Monday, November 12, 2018 / 01:55 PM / Afrinvest
Market Last
Week (Our Observation)
- Last week, investors positioning in market
bellwethers - NESTLE, SEPLAT
and NIGERIAN BREWERIES
- buoyed market performance as the All Share
Index (ASI) closed higher, up by 0.2% W-o-W to 32,200.21 points
while N27.5bn was added to market capitalisation which settled at
N11.7tn. Also, YTD loss moderated to -15.8%.
- Performances across sectors under our coverage
was bearish, as 3 of 5 indices closed negative W-o-W as the
Industrial Goods, Insurance and Banking indices shed 3.8%, 1.9%and
0.5% respectively W-o-W while the Consumer Goods and Oil & Gas
indices rose by 1.6% and 1.3% respectively W-o-W.
- Best performing stocks last week were UACN
(+11.1%), NPFMCRFBK (+11.1%) and
PRESCO (+10.7%) while MBENEFIT (-23.3%),
FLOURMILL (-16.8%) and WAPCO (-14.3%) led
decliners.
Markets This Week (Our
Expectations)
- The Afrinvest weekly sentiment indicator weakened
to 1.9 points from 2.2 points recorded the previous week as a result
of a weakening in market breadth.
- Following a mild uptick in market performance in
the prior week, we believe this buying interest will be sustained
this week. Nevertheless, we expect profit taking to drag performance
towards the close of the week.
- Performance of stocks on our equity watch-list
from track period till date are as follows; CUSTODIAN
(-3.5%), OKOMU (+3.6%), GUARANTY
(+1.8%), GUINNESS (-5.2%) and UBA
(-5.4%).
- NB: Rate
on ₦100M and above are negotiable and all rates are valid
ONLY for fund received on/before 16th November 2018
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