Afrinvest Stock Recommendation For The Week 070119

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Monday, January 07, 2019    11:23AM / Afrinvest Research

 

Market Last Week (Our Observation)

  • The downward trend in the domestic stock market continued last week as the All Share Index closed negative, down by 1.3% W-o-W to settle at 30,638.90 points while YTD return stood at -2.5%.
  • Across sectors, performance was negative as 4 of 5 indices closed in the red W-o-W. The Industrial Goods and Banking indices were down 3.9% and 2.7% W-o-W respectively while the Insurance and Consumer Goods indices lost 1.0% apiece. The Oil & Gas index was the lone gainer last week, up 2.9% W-o-W. 
  • Best performing stocks during the week were CUSTODIAN (+16.2%),JBERGER (+15.7%) and VITAFOAM (+16.2%) while FCMB (-16.5%),GLAXOSMITH (-14.5%) and ACCESS (-6.8%) led laggards.


Markets This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator increased to 2.6x based on improvements in the economic gauge.
  • This week, we expect a bearish performance on the local bourse as we anticipate sustained sell pressures based on pre-election jitters.
  • Performance of our updated equity watch list for Q1:2019 based on track period till date is as follows; GUARANTY (-2.9%), ZENITH (-5.9%), DANGCEM(0.0%), OKOMU (+5.0%), and NIGERIAN BREWERIES (-1.5%).

 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

  • NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 7th January 2019

 

Proshare Nigeria Pvt. Ltd.


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 Proshare Nigeria Pvt. Ltd.

 

 Proshare Nigeria Pvt. Ltd.

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