Afrinvest Stock Recommendation for the Week 010620

Monday, June 01, 2020 / 12:41 PM / By Afrinvest Research / Header Image Credit:  Afrinvest

Market Last Week (Our Observations)

• Last week, the equities market sustained a positive performance as the All-Share index gained 0.3% w/w to close at 25,267.82 points. As a result, market capitalisation advanced N32.9bn to settle at N13.2tn while YTD loss improved to -5.9%.
• Performance across sectors was bullish as 5 of 6 indices under our coverage gained w/w. The Industrial Goods (+3.7%) and Insurance (+3.7%) indices appreciated the most. Trailing, the Consumer Goods (+2.3%), AFR-ICT (+0.5%) and Banking (+0.4%) indices closed the week positive. Conversely, the Oil & Gas index was the lone loser, down 0.3% w/w.
• NEIMETH (+31.4%), MANSARD (+18.7%) and CUTIX (+14.7%) recorded the best performance while REGALINS (-13.0%), LEARNAFRICA (-9.6%) and ETI (-8.9%) were the top losers.

Market This Week (Our Expectations) 

• The Afrinvest Weekly Sentiment Indicator stood at 2.0x.
• This week, we anticipate a mixed performance as investors are expected to take profits following successive runs of gains in the local equities market.

• NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 1st June 2020.

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