Afrinvest Stock Recommendation for the Week 041021

Proshare

Monday, October 04, 2021 / 12:29 PM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • In tandem with our expectation, the local bourse extended its positive performance last week on buying interest in DANGCEM (+14.3%), ZENITH (+2.6%), and FBNH (+7.3%). Accordingly, the All-Share Index rose 3.2% w/w to 40,221.17 points. Meanwhile, YTD loss improved to -0.1% and market capitalisation rose N655.9bn w/w to N20.9tn.  
  • Performance was positive across the sector under our coverage last week as 4 indices gained, 1 negative while the AFR-ICT index remained flat. Leading the gainers, the Industrial and Consumer Goods indices rose 6.7% and 3.4% w/w respectively. Trailing, the Oil & Gas and Banking indices gained 0.9% and 0.6% w/w respectively. On the other hand, the Insurance index slid 7.6% w/w.   
  • The top performing stocks for the previous week were UPL (+20.6%), PHARMDEK (+20.5%), and DANGCEM (+14.3%) while MANSARD (-29.8%), JBERGER (-10.0%), and VANLEER (-9.9%) led the laggards.


Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiments indicator strengthened to 1.4x from 1.2x.
  • This week, we expect the positive momentum to gain further traction on improved investor sentiment.


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

 

Related News

1.       Afrinvest Stock Recommendation for the Week 270921

2.      Afrinvest Stock Recommendation for the Week 020821

3.      Afrinvest Stock Recommendation for the Week 260721

4.      Afrinvest Stock Recommendation for the Week 190721

5.      Afrinvest Stock Recommendation for the Week 120721

6.      Afrinvest Stock Recommendation for the Week 050721

7.      Afrinvest Stock Recommendation for the Week 280621

8.     Afrinvest Stock Recommendation for the Week 070621

9.      Afrinvest Stock Recommendation for the Week 310521

10.  Afrinvest Stock Recommendation for the Week 170521

11.   Afrinvest Stock Recommendation for the Week 100521

 

 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP