September 10, 2018 / 10:42 AM / Afrinvest Research
Market This Week (Our Observation)
- Last week, the performance of
the local bourse was bearish as the benchmark index declined 2.3% W-o-W to
34,037.91 points while YTD loss worsened to -11.0%.
- Across sectors, performance was
equally negative as all indices under our coverage closed in the red. The
Oil & Gas, Consumer Goods and Banking indices shed 3.7%, 2.7% and 2.4%
respectively W-o-W. Similarly, the Industrial Goods and Insurance indices
fell, down 1.0% and 0.1% respectively W-o-W.
- The best performers last week
were HMARKINS (+26.7%),
and CILEASING (+16.0%)
while LAWUNION (-26.0%),
(-17.5%) led the laggards.
Market This Week (Our Expectation)
- The Afrinvest weekly sentiment
indicator softened to 1.9 points from 2.6 points recorded the previous
- This week, we believe bargain
hunting will drive performance in the first two trading sessions. However,
for the week, we maintain a bearish outlook for the market due to the
absence of positive drivers.
- Performance of stocks on our
watch-list from track period till date are as follows: ZENITH (-2.1%), NIGERIAN BREWERIES (-2.2%), CUSTODIAN (+4.4%), DANGCEM (-3.0%) and OKOMUOIL (+3.1%).
1. Afrinvest Stock Recommendation for the Week -030918
2. Afrinvest Stock Recommendation for the Week - 270818
3. Cordros Weekly Stock Recommendation – 130818
4. Afrinvest Stock Recommendation for the Week – 130818
5. Cordros Weekly Stock Recommendation – 060818
6. Afrinvest Stock Recommendation for the Week – 060818
7. Afrinvest Stock Recommendation for the Week – 300718
8. Cordros Weekly Stock Recommendation – 300718
9. Investors Alert On Stock Picks Published In Investment