Afrinvest Stock Recommendation for the Week 280621

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Monday, June 28, 2021   /11:20 AM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • Downtrend was sustained on the local bourse last week as the NSE All-Share Index trended southwards on 4 of 5 trading sessions. Consequently, the benchmark index shed 2.6% w/w to settle at 37,658.26 points while YTD loss worsened to -6.5%. Market capitalisation decreased by N516.3bn in value to close at N19.6tn. 
  • Performance was mixed across sectors under our coverage as 3 of 6 indices closed negatively and 3 appreciated. The AFR-ICT index was the biggest loser, down 5.2% w/w. The Industrial Goods and Insurance indices trailed, shedding 3.3% and 0.8% w/w respectively. Conversely, the Banking index led gainers, up 0.9% w/w. Similarly, the Consumer Goods and Oil & Gas indices rose 0.6% and 0.1% w/w respectively. 
  • The best performers were LINKASSURE (+18.2%), VITAFOAM (+17.8%) and HONYFLOUR (+10.7%) while the worst performers were ROYALEX (-12.5%), AIRTELAF (-10.0%), and NPFMCRFB (-8.9%).


Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiments indicator weakened to 1.4x (from 1.9x).
  • We anticipate a possible rebound in market performance this week, as investors position ahead of H1:2021 corporate releases and take advantage of cheap attractive stocks. 


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 2nd July 2021.


Proshare Nigeria Pvt. Ltd.


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