Afrinvest Stock Recommendation for the Week 210920

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Monday, September 21, 2020 / 01:52 PM / By Afrinvest Research / Header Image Credit: Afrinvest 

 

Market Last Week (Our Observations)

  • The equities market recorded a negative performance last week as the All-Share Index fell 8bps w/w to 25,572.57 points. Furthermore, market capitalisation rose N13.6bn w/w to N13.4tn while YTD loss worsened to -4.7%.
  • Sector performance was bullish as 4 of 6 indices under our coverage recorded gains w/w. The Industrial and Consumer Goods indices led gainers, up 0.5% and 0.2% w/w while the AFR-ICT and Insurance indices appreciated 0.2% and 1bp w/w respectively. Conversely, the Oil & Gas and Banking indices depreciated 1.0% and 0.7% w/w in that order.
  • The top performing stocks for the week were WAPIC (+12.1%), LEARNAFRCA (+9.6%) and UNITYBNK (+9.6%) while ABCTRANS (-16.7%), NEM (-9.8%) and TRIPPLEG (-9.1%) were the laggards.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator stood at 2.5x as at last week.
  • This week, we anticipate that investors will continue to take profit.

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 21st September 2020.


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