Afrinvest Stock Recommendation for the Week - 100918

Proshare

Monday, 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%), CONTINSURE (+16.8%) and CILEASING (+16.0%) while LAWUNION (-26.0%), STDRINSUR (-23.7%) and UNIVINSURE (-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 week.
  • 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%).

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

Related News

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 Research Websites

 

READ MORE:
Related News
SCROLL TO TOP