Afrinvest Stock Recommendation For The Week 110219

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Monday, February 11, 2019 11:08 AM / Afrinvest Research

 

Market Last Week (Our Observation)

  • The equity market closed positive as investors capitalize on cheap and fundamentally sound stocks especially in the banking sector. Hence, the All Share Index (ASI) ramped up 2.9% W-o-W to 31,529.9 points while YTD performance improved to 0.3%.
  • Sector performance was largely bullish as all sectors gained W-o-W save for the Industrial sector which was down by 0.7%. The banking index led gainers, up 8.1%, trailed by the Consumer Goods (+4.1%), Insurance (+4.0%) and Oil & Gas (+2.5%) indices.  
  • The top performing stocks for the week were REGALINS (+19.0%), DANGFLOUR (+18.1%) and GUARANTY (+14.7%) while ROYALEX (-13.3%) GUINEAINS (-13.0%) and CHAMPION (-10.0%) led laggards.

Markets This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator strengthened to 3.5 points from 2.7 points recorded in the prior week buoyed by improved economic sentiment. 
  • Following the bullish performance last week, we expect market participants to book profits on portfolios during the week based on associated uncertainty leading up to the presidential elections this Saturday.
  • The performance of stocks on our equity watch-list from track period till date are as follows; GUARANTY (+12.0%), ZENITH (+5.9%), DANGCEM (-0.3%), OKOMU (+11.5%), and NIGERIAN BREWERIES (-0.4%). 


Proshare Nigeria Pvt. Ltd.

NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 11th February, 2019


Proshare Nigeria Pvt. Ltd.


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