Afrinvest Stock Recommendation for the Week 100122

Proshare

Monday, January 10, 2022   / 11:30 AM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • Last week, the local bourse closed positive on all trading sessions. Accordingly, the NGX All-Share index rose 2.7% w/w to 43,854.42 points, market capitalization gained N1.3tn to N23.6tn, while YTD return printed at 2.7%. 
  • Similarly, sector performance was bullish across our coverage as 4 indices closed positive while 2 indices lost. The AFR-ICT index led the gainers, up 4.7% w/w. Trailing, the Oil & GasBankingIndustrial Goods indices rose 2.7%, 0.8% and 0.3% w/w respectively. On the flip side, the Consumer Goods and Insurance indices recorded losses, down 0.9% w/w apiece.
  • The top outperformers for the week were ACADEMY (+20.0%), MEYER (+19.6%), and CORNERST (+19.6%) while SOVRENIN (-13.3%), VITAFOAM (-10.0%), and NNFM (-9.4%) led the laggards.


Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiment indicator strengthened to 3.4x from 2.0x.
  • In this week's trading session, we expect positive performance to be sustained as more investors take position ahead of the dividend season.

 

Proshare Nigeria Pvt. Ltd.


NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 14th January 2022.


Proshare Nigeria Pvt. Ltd.


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 Proshare Nigeria Pvt. Ltd.

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