Monday, March 02, 2020 / 03:49
PM / Afrinvest Research / Header Image Credit: Afrinvest
Market Last Week (Our Observations)
- Last week, the local bourse sustained
bearish performance as the All-Share Index (ASI) depreciated
4.3% w/w to settle at 26,216.46 points. As a result, YTD return
turned negative to -2.3% while market capitalisation declined N610.6bn to N13.7tn.
- Sector performance was uninspiring as
4 of 5 indices under our coverage lost. The Industrial
Goods index was the lone gainer, up +1.1%. Conversely, the
Banking and Insurance indices fell 11.8% and 8.2% respectively.
Likewise, the Consumer Goods and Oil & Gas indices lost
3.8% and 2.1% respectively.
- The best performing stocks for the week
were LAWUNION (+11.1%), EKOCORP (+5.8%)
and BUACEMENT (+3.1%) while REDSTAR
(-27.0%), SKYAVN (-26.8%) and
NPFMCRFB (-23.4%) led laggards.
Market This Week (Our Expectations)
- The Afrinvest Weekly Sentiment Indicator
stood at 0.8x.
- Following the
outbreak of "Coronavirus" in Nigeria, we anticipate a
sustained downtrend this week, although there are bargain hunting
- NB: Rate on N100M and above are negotiable and all rates
are valid ONLY for fund received on/before 2nd March 2020.
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
Stock Recommendations For The Week 060120
Stock Recommendations For The Week 301219
Stock Recommendations For The Week 231219
Stock Recommendation For The Week 161219
Stock Recommendation For The Week 091219
Stock Recommendation For The Week 251119