Afrinvest Stock Recommendation for the Week - 190318

Proshare

Monday, March 19, 2018 /1:10 PM /Afrinvest 

Market Last Week (Our Observation)
Performance of the local bourse was largely bearish last week, as the All Share Index fell 2.9% W-o-W to halt a 2-week gaining streak. The index closed at 41,035.90 points on Friday and is up 9.7% YTD. 

Across sectors, performance was equally bearish as 4 of 5 indices closed in the red. The Banking index led laggards, down 8.4% W-o-W. The Oil & Gas and Consumer Goods indices trailed, shedding 1.6% apiece W-o-W. Similarly, the Industrial Goods index declined 0.2% W-o-W. On the other hand, the Insurance index was the lone gainer, up 0.3% W-o-W.
 

The best performing stocks for the week were ABCTRANS (+14.3%), JOHNHOLT (+12.5%) and NEM (+11.6%) while JAPAUL OIL (-30.9%), FIDELITY (-22.5%) and UNITY (-21.5%) were the worst performers.
 

Market This Week (Our expectations)
The Afrinvest Weekly Sentiment indicator declined to 0.5 from 0.9 following the decline in market breadth and turnover last week. 

Although we saw a lag in the expected reaction to the impressive results released last week due to investor skepticism on forward earnings, we expect bargain hunting to buoy performance this week whilst maintaining our positive near-term outlook for the market.
 

Our equity watchlist for March remains
FLOURMILLS, MANSARD, ACCESS, UBA and ZENITH.

Proshare Nigeria Pvt. Ltd.
Proshare Nigeria Pvt. Ltd.

Related News

1.      Afrinvest Stock Recommendation for the Week - 120318

2.     Cordros Weekly Stock Recommendation- 120318

3.     Cordros Weekly Stock Recommendation- 260218

4.     GTI Top-5 Stock Picks for 260218

5.     Afrinvest Stock Recommendation for the Week -260218

6.     Afrinvest Stock Recommendation for the Week -190218

7.     Stocks to Monitor this Week

8.     GTI Top-5 Stock Picks for 120218

9.     Cordros Weekly Stock Recommendation- 120218

10.  Afrinvest Stock Recommendation for the Week - 050218

11.   Cordros Weekly Stock Recommendation- 050218

12.  GTI Top-5 Stock Picks for 050218

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

14.  GTI Top-5 Stock Picks for 290118

READ MORE:
Related News
SCROLL TO TOP