Monday, February 17,
2020 / 03:08 PM / By GTI Research / Header Image Credit: GTI
Market Review for the week ended February 14th, 2020
The Nigerian equity market last week, sustained losing streak, as bearish sentiment prevailed in three of the five trading sessions following persistence sell-off on market bellwether stocks.
In summary, the All Share Index (ASI) shed 311.22 absolute points, representing a 1.11% decline to close at 27,755.87 points. Also, the Market Capitalization lost N162.10 billion, representing a 1.11% decrease to close at N14.46 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; NESTLE (-10.00%), JAPAULOIL (-9.09%), INTBREW (-8.82%), STERLNBANK (-7.69%), NEM (-5.56%), OANDO (-4.17%), DANGSUGAR (-4.10%), HONYFLOUR (-2.73%), ETERNA (-2.33%), ACCESS (-1.02%), MTNN (-0.85%), FBNH (-0.83%), ZENITHBANK (-0.76%), and UBA (-
Outlook for the week ending February 21, 2020
Amid the uninspiring earnings results posted so far by many of the medium and large capitalized companies, we expect investors' sentiment to remain flat in the trading week. However, we believe the expected
earnings result of the five biggest lenders - First Bank, UBA, Zenith, GTB, and Access (FUZGA) may spark modest buy sentiment if released this week and print strong.
GTI Top-5 Weekly Stock Picks For The Period 17/02/2020 - 21/02/2020