Afrinvest Stock Recommendation for the Week 170820

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Monday, August 17, 2020 / 12:38 PM / By Afrinvest Research / Header Image Credit: Afrinvest

  

Market Last Week (Our Observations)

  • Last week, the domestic equities market sustained its bullish performance as the NSE All-Share Index appreciated 0.6% w/w to settle at 25,199.84 points. Consequently, market capitalisation rose N82.5bn w/w to close at N13.1tn while YTD loss moderated to -6.1%.
  • Performance across sectors was bullish as 4 of 6 indices under our coverage trended northward w/w. The Oil & Gas and AFR-ICT indices gained 5.9% and 4.7% w/w respectively. Likewise, the Consumer Goods and Insurance indices expanded 2.2% and 1.1% w/w respectively. Conversely, the Industrial Goods and Insurance indices lost 2.7% and 3bps w/w respectively.
  • The top performing stocks for the week were CADBURY (+12.9%), NIGERIAN BREWERIES (+12.5%) and UNILEVER (+11.6%) while CHAMPION (-25.3%), IKEJAHOTEL (-25.0%) and NNFM (-10.0%) were the laggards.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator declined to 1.3x from the 2.0x recorded in the previous week.
  • This week, we anticipate a mixed performance as investors take profit while seeking bargain hunting opportunities.

Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.

NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 17th August 2020.


Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.

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