Afrinvest Stock Recommendation for the Week - 120318

Proshare

Monday, March 12, 2018 /1:45 PM /Afrinvest 

Market Last Week (Our Observation)
The local bourse sustained a positive performance for the second consecutive week as the All Share Index (ASI) rose 0.7% W-o-W to 43,167.87 points while YTD return improved to 12.9% 

Across sectors, performance was largely mixed as 3 of 5 indices closed in the green. The Oil & Gas index appreciated the most, up 5.6% W-o-W. The Consumer and Industrial Goods indices followed suit, rising 1.7% apiece. On the flipside, the Banking and Insurance indices closed 1.1% and 0.7% lower W-o-W respectively.

JAPAUL OIL
(+54.0%), HMARKINS (+34.5%) and LASACO (+25.7%) were the best performing stocks for the week while REGALINS (-27.1%), AFRINSUR (-13.9%) and FTNCOCOA (-13.5%) led the losers chart.

Market This Week (Our expectations)
 
The Afrinvest Weekly sentiment indicator stayed flat at 0.9 following sustained buying interest in medium cap stocks in anticipation of the release of earnings scorecards as well as improvements in market breadth. 

Earnings of companies that have published results have been largely positive and this week, we expect market performance to remain upbeat as investors take position in fundamentally sound stocks in anticipation of more corporate scorecard releases. 

Our March 2018 equity watchlist comprises of
ACCESS, UBA, OKOMU OIL, MANSARD and FLOURMILLS.
 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News

1.      Cordros Weekly Stock Recommendation- 260218

2.     GTI Top-5 Stock Picks for 260218

3.     Afrinvest Stock Recommendation for the Week -260218

4.     Afrinvest Stock Recommendation for the Week -190218

5.     Stocks to Monitor this Week

6.     GTI Top-5 Stock Picks for 120218

7.     Cordros Weekly Stock Recommendation- 120218

8.     Afrinvest Stock Recommendation for the Week - 050218

9.     Cordros Weekly Stock Recommendation- 050218

10.  GTI Top-5 Stock Picks for 050218

11.   Nigerian Equity Market Flash Note - Update on Coverage Companies

12.  GTI Top-5 Stock Picks for 290118

13.  Afrinvest Stock Recommendation for the Week - 290118

14.  Afrinvest Stock Recommendation for the Week - 220118

15.  QFAc Pick of the Week – United Bank for Africa Plc

16.  GTI Top-5 Weekly Stock Picks - 080118

17.  GTI Top-5 Weekly Stock Picks - 020118

READ MORE:
Related News
SCROLL TO TOP