Monday, October 26, 2020 / 12:04 PM /
by Afrinvest / Header Image Credit: Afrinvest
Market Last Week (Our Observations)
Last week, the equities market sustained gains as the All-Share index advanced 0.1% w/w to 28,697.06 points. Consequently, marketcapitalisationrose by N19.7bn to N15.0tn while YTD return settled at 6.9%.
Sector performance was bearish as 4 of 6 indices under our coverage lost w/w. The Consumer Goods and AFR-ICT indices advanced 2.9% and 2bps w/w respectively. Conversely, the Banking and Oil & Gas indices declined 1.5% and 0.7% w/w respectively. Lastly, the Insurance and Industrial Goods indices lost 0.6% and 0.1% w/w respectively.
INTBREW(+18.2%),CUTIX(+17.3%) andNASCON(+10.0%) led gainers whileNNFM(-9.9%),LINKASSURE(-9.1%) andETERNA(-9.0%)led the decliners.
Market This Week (Our Expectations)
TheAfrinvestWeekly Sentiment Indicator remained unchanged at the 2.6x recorded in the previous week.
We believe the trend in corporate earnings releases would influence market performance this week.
NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 26th October 2020.