Afrinvest Stock Recommendation for the Week 081121

Proshare

Monday, November 08, 2021   /1:07 PM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • After 7 weeks of sustained rally, bearish sentiment resurfaced on the domestic bourse last week as the NGX All-Share Index retreated by 0.1% w/w to close at 42,014.50 points while the market capitalisation lost N12.6bn w/w to settle at N21.9tn. Consequently, YTD return slid to 4.3% from 4.4% the prior week.
  • Sector performance was largely bearish across our coverage sectors. The Banking index topped the losers' chart, down 1.7% w/w. Trailing, the Oil & Gas and Consumer Goods indices fell 1.6% and 0.7% w/w respectively. Conversely, the Insurance and Industrial Goods indices rose 1.0% and 0.9% w/w respectively.
  • The top outperformers for the previous week were REGALINS (+18.9%), MULTIVER (+10.0%), and SCOA (+9.5%) while ETERNA (-15.5%), UNILEVER (-14.4%), and COURTVIL (-11.4%)  led the laggards. 

Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiment indicator weakened to 1.3x from 2.5x.
  • This week, we expect sell pressure to dominate the market barring any positive catalyst. 


Proshare Nigeria Pvt. Ltd.


  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 12th November 2021.


Proshare Nigeria Pvt. Ltd.


Related News

1.       Afrinvest Stock Recommendation for the Week 011121

2.      Afrinvest Stock Recommendation for the Week 181021

3.      Afrinvest Stock Recommendation for the Week 111021

4.      Afrinvest Stock Recommendation for the Week 041021

5.      Afrinvest Stock Recommendation for the Week 270921

6.      Afrinvest Stock Recommendation for the Week 020821

7.      Afrinvest Stock Recommendation for the Week 260721

8.     Afrinvest Stock Recommendation for the Week 190721

9.      Afrinvest Stock Recommendation for the Week 120721

10.  Afrinvest Stock Recommendation for the Week 050721

11.   Afrinvest Stock Recommendation for the Week 280621

12.  Afrinvest Stock Recommendation for the Week 070621

 

 Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP