Afrinvest Stock Recommendation For The Week 010419

Proshare

Monday, April 01, 2019   11:20AM / Afrinvest Research

 

Market Last Week (Our Observation)

      • Despite bargain-hunting activities on some fundamentally sound and cheap stocks (NESTLE, SEPLAT and DANGCEM) at the close of trading session, the local bourse failed to fully recoup losses. Consequently, the NSE All-Share Index closed in the red on 3 of the 5 trading sessions in the week, falling 0.3% W-o-W to settle at 31,041.42 points while YTD return worsened to -1.2%.
      • Performance across sectors was mixed as 3 of 5 indices under our coverage trended southward W-o-W. The Banking index declined the most, down 2.8% due to sell pressures as investor sentiment weakened. The Industrial Goods and Insurance indices followed suit, shedding 2.4% and 2.0% respectively W-o-W. On the flip side, the Oil & Gas index recorded the largest gain, advancing 3.6% while buying interest in NESTLE (+5.3%) and DANGSUGAR (+1.4%) drove the Consumer Goods index upwards by 1.1% W-o-W.
      • The top performers for the week were ETERNA (+10.4%), REDSTAREX (+10.0%) and IKEJAHOTEL (+9.9%) while FIDELITY (-13.1%), DANGFLOUR (-12.1%) and SOVRENINS (-9.1%) led underperformers.

        Market This Week (Our Expectations)

        • The Afrinvest market sentiment indicator strengthened to 3.1 points from 2.9 points recorded the previous week.
        • Performance of stocks on our equity watch-list from track period till date are as follows; GUARANTY (+4.6%), ZENITH (+5.1%), OKOMU (+5.0%), NESTLE (+6.4%) and DANGCEM (+0.7%). 
        • This week we expect to see profit taking activities in earlier trading sessions in response to Friday’s market performance partly driven by release of impressive earnings reports. Hence, we maintain a bearish outlook for the overall weekly performance.



             
         Note: For more enquiry and to open a stockbroking account, see contact details below:

        Proshare Nigeria Pvt. Ltd.

        • NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 1st April, 2019


        Proshare Nigeria Pvt. Ltd.


        Related News

        1.       Afrinvest Stock Recommendation For The Week 250319

        2.      Afrinvest Stock Recommendation For The Week 180319

        3.      Afrinvest Stock Recommendation For The Week 110319

        4.      Afrinvest Stock Recommendation For The Week 040319

        5.      Afrinvest Stock Recommendation For The Week 110219

        6.      Afrinvest Stock Recommendation For The Week 040219

        7.      Afrinvest Stock Recommendation For The Week 280119

        8.     Afrinvest Stock Recommendation For The Week 210119

        9.      Afrinvest Stock Recommendation For The Week 140119

        10.  Afrinvest Stock Recommendation For The Week 070119

        11.   Afrinvest Stock Recommendation For The Week 171218

        12. Afrinvest Stock Recommendation For The Week 101218

        Proshare Nigeria Pvt. Ltd.
        READ MORE:
        Related News
        SCROLL TO TOP