Monday, February
01, 2021 / 03:25 PM / by Afrinvest
Research / Header Image Credit: Titan FX
Market Last Week (Our Observations)
- The
domestic equities market reversed previous week's bearish sentiment,
posting a positive performance following gains on all trading sessions.
Accordingly, the NSE All Share Index rose 3.4% w/w to settle at 42,412.66
points. Similarly, YTD return improved to 5.3% while market capitalisation
advanced N737.9bn w/w to close at N22.2tn.
- Performance
across sectors was largely bullish as 5 of 6 indices under our coverage
trended northward w/w. The AFR-ICT and Banking indices advanced 7.8% and
3.3% respectively. Trailing, the Insurance and Industrial Goods indices
rose 1.7% and 1.4% respectively. Similarly, the Consumer Goods
index increased 1.3% w/w. Conversely, the Oil & Gas index was the lone
laggard, down 7.2% w/w.
- CHAMPION (+59.5%), FIDSON
(+30.1%) and MAYBAKER
(+27.4%) were the top performers while SOVRENINS (-21.2%), ACADEMY (-17.5%) and NIGERINS (-14.8%) were the
laggards.
Market This Week (Our Expectations)
- The
Afrinvest Weekly Sentiment Indicator weakened to 1.3x from the 1.7x
recorded last week.
- In the coming week, we expect to see slight
profit-taking at the start of the week. However, we envisage market
performance will be dictated by the performance of the earnings results.


- NB:
Rate on N100M and above are negotiable and all
rates are valid ONLY for fund received on/before 1st February 2021.

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