Afrinvest Stock Recommendation for the Week 080221

Proshare

Monday February 08, 2021 / 12:01PM / Afrinvest Research / Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.



Market Last Week (Our Observations)

  • The equities market reversed the previous week's bullish momentum with sell-offs dominating trades all week. As a result, the All-Share index fell 1.7% w/w to 41,709.09 points. Market capitalisation fell by N368.0bn to N21.8tn while YTD return declined to 3.6%.

  • Performance across sectors was lacklustre as all indices under our coverage declined. The Insurance index lost the most, down 6.0% w/w. Trailing, the Consumer Goods and Banking indices recorded losses of 3.2% and 2.3% w/w respectively. Similarly, the Industrial Goods and AFR-ICT indices also declined 2.1% and 0.3% w/w respectively. Lastly, the Oil & Gas index closed the week lower by 0.2%.

  • ETERNA  (+10.6%), NCR (+9.9%) and MULTIVERSE (+9.1%) were the top performers while LINKASSURE (-33.3%), AIICO (-13.6%) and JBERGER (-13.0%) were the laggards. 


Market This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator strengthened to 1.5x from the 1.3x recorded last week.

  • In the coming week, we expect trading sessions to be a mix of bargain hunting and sustained profit-taking activities. The direction of yields in the fixed income market would also influence trades especially given the increase in marginal rates at the OMO auction this week. 
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 8th February 2021. 


Proshare Nigeria Pvt. Ltd.



Related News 

1.       Afrinvest Stock Recommendation for the Week 010221 

2.       Afrinvest Stock Recommendation for the Week 250121 

3.       Afrinvest Stock Recommendation for the Week 180121 

4.       Afrinvest Stock Recommendation for the Week 110121 

5.       Afrinvest Stock Recommendation for the Week 211220 

6.       Afrinvest Stock Recommendation for the Week 141220 

7.       Afrinvest Stock Recommendation for the Week 301120 

8.      Afrinvest Stock Recommendation for the Week 161120 

9.       Afrinvest Stock Recommendation for the Week 091120 

10.   Afrinvest Stock Recommendation for the Week 021120 

11.    Afrinvest Stock Recommendation for the Week 261020 

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP