Afrinvest Stock Recommendation For The Week 250319

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Monday, March 25, 2019 12:38 PM / Afrinvest Research


Market Last Week (Our Observation)

  • The first four trading days of the week witnessed sustained sell-offs  as market sentiment remained largely bearish. However, last minute gains on some small and mid-cap stocks by Friday resulted in marginal loss to close the week flattish. Consequently, the All-Share Index (ASI) declined by 1bps W-o-W to 31,139.35 points, while YTD return moderated to -0.9%.
  • Performance across sectors was mixed as 2 of 5 indices under our coverage advanced W-o-W. This was largely due to the persisting sell pressures despite the improvement in investor sentiment. The Banking and Industrial Goods indices gained 3.8%and 2.4% W-o-W respectively while the Oil & Gas, Consumer Goods and Insurance indices shed 4.0%, 2.3%and 1.1% W-o-W respectively. 
  • The outperforming stocks by the close of the week were ACCESS (+18.1%),DANGFLOUR (+13.7%) and FIDELITY (+10.7%) while CUTIX (-17.8%),CADBURY (-17.5%) and IKEJAHOTEL (-17.4%) led the laggards.

 

Market This Week (Our Expectations)

  • The Afrinvest market sentiment indicator strengthened to 2.9 points from 2.6 points recorded the previous week.
  • Following four days of losses last week, we expect bargain hunting activities  seen on the last day of trading, largely supported by improving investor sentiment to extend to early trades in subsequent sessions. This could potentially drive positive returns for the week in the domestic bourse. 
  • Performance of stocks on our equity watch-list from track period till date are as follows; GUARANTY (+8.9%), ZENITH (-4.3%), OKOMU (+3.7%) andDANGCEM (+0.0%).

Proshare Nigeria Pvt. Ltd.


NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 25th March, 2019


Proshare Nigeria Pvt. Ltd.

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