Afrinvest Stock Recommendation for the Week 080321

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Monday, March 08, 2021 / 11:52 AM / by Afrinvest Research / Header Image Credit: Titan FX


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Market Last Week (Our Observations)

  • The equities market sustained previous week's sell-offs with trades closing southwards on all trading sessions save Monday. Consequently, the benchmark index lost 1.2% w/w to 39,331.61 points. Also, YTD return worsened to -2.3% while market capitalisation fell N245.0bn to N20.6tn. 
  • Performance across sectors was lacklustre as all indices under our coverage lost save the Industrial Goods index which gained 1.4%. The Consumer Goods index led the losers, down 6.3%. Trailing, the Insurance and Oil & Gas indices fell 5.0% and 2.2% respectively. Similarly, the Banking and AFR-ICT indices were down 1.9% and 1.2% respectively. 
  • MORISON (+20.0%), UNITYBNK (+9.0%) and BETAGLAS (+8.0%) led the top gainers while CHAMPION (-33.3%), OANDO (-23.2%) and NASCON (-19.0%) led the decliners. 


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator waned to 0.9x from the 1.5x recorded last week.
  • This week, we expect a mixed performance with positive bias for bargain hunting.


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 March 2021.


Proshare Nigeria Pvt. Ltd.


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