Monday, January 07, 2019 11:23AM /
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%).
- NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY
for fund received on/before 7th January 2019
1. Afrinvest Stock Recommendation For The Week 171218
2. Afrinvest Stock Recommendation For The Week 101218
3. Afrinvest Stock Recommendation For The Week 031218
4. Afrinvest Stock Recommendation For The Week 261118
5. Afrinvest Stock Recommendation for The Week 191118
6. Afrinvest Stock Recommendation For The Week 121118
7. Stock Recommendation for The Week 051118
8. Afrinvest Stock Recommendation for the Week - 151018
9. Afrinvest Stock Recommendation for the Week - 081018