Afrinvest Stock Recommendation for the Week 060720

Proshare

Monday, July 06, 2020 / 11:58 AM / By Afrinvest Research / Header Image Credit: Afrinvest

 

Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the equities market recorded losses on 3 trading sessions and as a result, the benchmark index declined 2.0 % w/w to settle at 24,336.12 points. Consequently, market capitalisation lost N257.1bn w/w to close at N12.7tn while YTD return worsened to -9.3%.
  • Performance across sectors was lacklustre as all indices under our coverage declined w/w. The Banking index (-7.5%) led the pack. Trailing, the Industrial Goods (-6.4%) and Insurance (-2.2%) indices also lost. Similarly, the Oil & Gas (-1.2%) and AFR-ICT (-0.7%) indices declined w/w. Lastly, the Consumer Goods (-0.5%) index also closed the week lower.
  • The top performing stocks for the week were OKOMUOIL (+20.9%), ROYALEX (+13.0%) and PRESTIGE (+10.6%) while NAHCO (-24.2%), LEARNAFR (-21.5%) and UNILEVER (-18.8%) were the laggards.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator remained unchanged from last week's close of 1.5x.
  • This week, We anticipate a sustained bearish momentum in the coming week as investor sentiment remains weak.

     Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 6th July 2020.


Proshare Nigeria Pvt. Ltd.


Related News

  1. Equity Market to Sustain Pullback in July; FSDH Top Stock Picks
  2. Afrinvest Stock Recommendation for the Week 290620
  3. Afrinvest Stock Recommendation for the Week 220620
  4. Afrinvest Stock Recommendation for the Week 150620
  5. Afrinvest Stock Recommendation for the Week 010620
  6. Afrinvest Stock Recommendation for the Week 180520
  7. Afrinvest Stock Recommendation for the Week 160320
  8. Afrinvest Stock Recommendations for the Week 090320
  9. Afrinvest Stock Recommendations for the Week 020320
  10. Afrinvest Stock Recommendations for the Week 240220
  11. GTI Top-5 Weekly Stock Picks for 17th February, 2020
  12. GTI Top-5 Weekly Stock Picks for 27th January, 2020
  13. Afrinvest Stock Recommendations For The Week 130120

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP