Afrinvest Stock Recommendation for the Week - 270818

Proshare

Monday, August 27, 2018 10:48AM /Afrinvest Research

Market This Week (Our Observation)

·         The domestic bourse closed in the green last week as bargain hunting in DANGCEM drove the All Share Index (ASI) 0.5% higher to 35,426.21 points while YTD loss stood at -7.4%. 

·         Across sectors, performance was mixed although skewed to the negative as 3 of 5 indices we track closed in the red. The Banking, Consumer Goods and Oil & Gas indices shed 3.0%, 2.2% and 0.2% respectively while the Industrial Goods and Insurance indices closed positive, up 2.0% and 0.8% respectively W-O-W.

·         The best performers for the week were AIRSERVICE (+19.1%), SKYE (+18.8%) and FCMB (+7.6%) while UNIONDAC (-10.3%), UPL (-10.0%) and LIVESTOCK (-9.8%) led laggards.

 

Market This Week (Our Expectation)

·         The Afrinvest weekly sentiment indicator weakened to 1.3 points from 2.0 points recorded the previous week.

·         This week, we expect the market to remain pressured following the release of unimpressive GDP growth in Q2:2018. 

·         Our equity watchlist for the month of August remains UBA, GUARANTY, CUSTODIAN, FLOURMILLS and OKOMU.

 

Proshare Nigeria Pvt. Ltd.

·         NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 31st August  2018

 

Proshare Nigeria Pvt. Ltd.


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