Afrinvest Stock Recommendation for the Week 120421

Proshare

Monday, April 12, 2021 / 05:04 PM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • Last week, in the domestic equities market, the bears dominated as the market saw sell-offs. Consequently, the NSE All-Share index fell 0.2% w/w to settle at 38,866.4 points, YTD loss worsened to -3.5% while market capitalisation declined to N20.3tn.
  • Performance across sector coverage was bearish as 4 of the 6 indices closed southward w/w. The Banking index led the laggards, down 2.5% w/w while the Insurance index trailed, down 1.5% w/w. Similarly, the Industrial Goods and Oil & Gas indices fell 0.7% and 0.4% w/w respectively. On the other hand, the Consumer Goods and AFR-ICT indices rose 1.1% w/w apiece.
  • The top performing stocks for the week were LINKASSURE (+11.1%), ROYALEX (+9.1%) and FLOURMIL (+6.9%) while GUINNESS (-17.3%), STERLNBA (-15.7%) and MBENEFIT (-15.2%) were the top underperforming stocks. 

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator weakened to 0.5x from 0.9x recorded previously.
  • This week, expectations of higher rates at the coming T-bills auction may trigger sell-offs in the bourse. Therefore, we envisage a bearish sentiment in the near term.


Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.

  • NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 12th April 2021.


Proshare Nigeria Pvt. Ltd.


Related News

1.       Afrinvest Stock Recommendation for the Week 290321

2.      Afrinvest Stock Recommendation for the Week 220321

3.      Afrinvest Stock Recommendation for the Week 150321

4.      Afrinvest Stock Recommendation for the Week 080321

5.      Afrinvest Stock Recommendation for the Week 010321

6.      Afrinvest Stock Recommendation for the Week 220221

7.      Afrinvest Stock Recommendation for the Week 150221

8.     Afrinvest Stock Recommendation for the Week 080221

9.      Afrinvest Stock Recommendation for the Week 010221

10.  Afrinvest Stock Recommendation for the Week 250121

11.   Afrinvest Stock Recommendation for the Week 180121


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP