Afrinvest Stock Recommendation for the Week -030918

Proshare

Monday, September 03, 2018 11:40AM /Afrinvest Research


Market This Week (Our Observation)

·   Bearish sentiment returned to the market last week as the All Share Index (ASI) shed 1.6% W-o-W to close at 34,848.45 points while YTD loss worsened to -8.6%.

·  Across sectors, performance was equally bearish as 3 of 5 indices trended south. The Industrial Goods, Banking and Insurance indices fell 4.7%, 1.5% and 0.1% respectively W-o-W. On the flipside, the Oil & Gas and Consumer Goods indices rose 1.0% and 0.3% respectively W-o-W.

·  PORT (+20.6%), AIICO (+17.1%), and PZ (+14.9%) were the best performing stocks last week while IKEJAHOTEL (-18.6%), FIRSTALUM (-15.0%) and GLAXOSMITH (-14.4%) declined the most.

Market This Week (Our Expectation)

·  The Afrinvest Weekly Sentiment Indicator improved to 2.6x from 1.3x recorded the prior week on the back of a stronger market breadth.

·   This week, we expect sell-offs to be sustained due to the absence of positive drivers coupled with weak interest in market bellwethers.

·   For the month of September our equity watchlist consists of ZENITH, NIGERIAN BREWERIES, CUSTODIAN, DANGCEM 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 7TH SEPTEMBER  2018

 

 

Proshare Nigeria Pvt. Ltd.

 

Related News

1.       Afrinvest Stock Recommendation for the Week - 270818

2.      Cordros Weekly Stock Recommendation – 130818

3.      Afrinvest Stock Recommendation for the Week – 130818

4.      Cordros Weekly Stock Recommendation – 060818

5.      Afrinvest Stock Recommendation for the Week – 060818

6.      Afrinvest Stock Recommendation for the Week – 300718

7.      Cordros Weekly Stock Recommendation – 300718

 

READ MORE:
Related News
SCROLL TO TOP