Afrinvest Stock Recommendation for the Week 020821

Proshare

Monday, August 02, 2021 / 04:26 PM / by Afrinvest Research / Header Image Credit: Titan FX

 

Market Last Week (Our Observations)

  • Last week, the performance of the domestic equities market was mixed as the benchmark index closed in the green on 2 of the 5 trading sessions. Consequently, the All Share Index (ASI) declined by 31bps w/w to settle at 38547.08 points while YTD loss worsened to -4.3%. Market capitalisation fell by N62.9bn in value to close at N20.1tn. Activity level was mixed as average volume fell by 6.9% to 274.8m units while average value traded rose by 36.3% to N2.4bn. 
  • Performance across sectors under our coverage was mixed as 3 indices advanced while 3 indices lost. Leading the gainers is the Oil & Gas index, up 3.8% w/w. Similarly, the AFR-ICT and Consumer Goods indices gained 0.9% and 0.1% w/w respectively. On the flip side, the Industrial Goods index declined the most, down 1.3% w/w. Followed by the Insurance and Banking indices, down by 1.1% and 0.9% w/w respectively.
  • The top performing stocks for the week were OANDO (+23.2%), BOCGAS (+19.5%) and FTNCOCOA (+17.1%) while LINKASSURE (-14.3%), REGALINS (-12.5%) and LEARNAFR (-10.0%) led the top underperforming stocks for the week.


Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiments indicator waned to 1.2x (from 3.1x).
  • For this week, we expect bargain hunting activities to dominate on the back of relative price attractiveness of stocks and release of favorable H1:2021 earnings results.


Proshare Nigeria Pvt. Ltd.

Note: For more inquiry and to open a stockbroking account, see contact details below:


Proshare Nigeria Pvt. Ltd.

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 6th August 2021.


Proshare Nigeria Pvt. Ltd.


 

Related News

1.       Afrinvest Stock Recommendation for the Week 260721

2.      Afrinvest Stock Recommendation for the Week 190721

3.      Afrinvest Stock Recommendation for the Week 120721

4.      Afrinvest Stock Recommendation for the Week 050721

5.      Afrinvest Stock Recommendation for the Week 280621

6.      Afrinvest Stock Recommendation for the Week 070621

7.      Afrinvest Stock Recommendation for the Week 310521

8.     Afrinvest Stock Recommendation for the Week 170521

9.      Afrinvest Stock Recommendation for the Week 100521

10.  Afrinvest Stock Recommendation for the Week 260421

11.   Afrinvest Stock Recommendation for the Week 190421

12.  Afrinvest Stock Recommendation for the Week 120421

13.  Afrinvest Stock Recommendation for the Week 290321

14.  Afrinvest Stock Recommendation for the Week 220321

15.  Afrinvest Stock Recommendation for the Week 150321


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP