Monday, June 22, 2020 / 02:03 PM / By Afrinvest Research / Header
Image Credit: Afrinvest
Week (Our Observations)
- Last week, the equities market recorded a bearish
performance as the All-Share index lost 1.4% w/w to close at
24,826.75 points. As a result, market capitalisation declined N185.7bn
to settle at N12.95tn while YTD loss worsened to -7.5%.
- Performance across sectors was bearish as 4 of
the 6 indices under our coverage closed the week in the red. The
Industrial (+2.2%) and Consumer Goods (+1.8%) indices were the gainers. On
the flip side, the Oil & Gas index (-4.9%) led the laggards.
Similarly, the Banking (-3.1%) and Insurance (-3.1%) indices declined w/w
while the AFR-ICT (-0.9%) closed the week lower.
- HONEYFLOUR (+17.4%),
NESTLE (+10.0%) and CUTIX (+10.0%)
recorded the best performance while NEIMETH (-40.1%), NPRMCRFBK (-25.1%)
and PRESTIGE (-18.6%) were the top losers.
Week (Our Expectations)
- The Afrinvest Weekly Sentiment Indicator stood at
1.5x from 1.9x last week.
- Although we are not
optimistic of a rebound in market performance this week due to poor
investor sentiment, current stock prices are attractive for bargain
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- Afrinvest Stock Recommendation for the Week 150620
Stock Recommendation for the Week 010620
Stock Recommendation for the Week 180520
Stock Recommendation for the Week 160320
Stock Recommendations for the Week 090320
Stock Recommendations for the Week 020320
Stock Recommendations for the Week 240220
- GTI Top-5
Weekly Stock Picks for 17th February, 2020
- GTI Top-5
Weekly Stock Picks for 27th January, 2020
Stock Recommendations For The Week 130120