Afrinvest Stock Recommendation for the Week 111021

Proshare

Monday, October 11, 2021 / 1:00 PM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • Last week, the benchmark index rose 1.6% w/w to 40,868.36 points due to buying interest in FBNH (+21.7%) and AIRTELAF (+6.3%). Accordingly, YTD returns improved to 1.5% while market capitalisation rose N340.3bn w/w to N21.3tn.  
  • Performance was bullish across the sector under our coverage last week as 4 indices advanced while 2 declined. The Banking and AFR-ICT indices led the gainers' chart, up 4.5% and 2.7% w/w respectively. Trailing, the Oil & Gas and Industrial Goods indices gained 0.2% and 0.1% w/w respectively. On the flip side, the Insurance and Consumer Goods indices fell 1.5% and 0.5% w/w respectively.
  • The top-performing stocks for the previous week were UPL (+28.5%), FBNH (+21.7%), and COURTVILLE (+17.1%) while CORNERST (-12.1%), MORISON and BOCGAS (-9.9%) led the laggards.


Market This Week (Our Expectations)

  • The Afrinvest weekly sentiment indicator strengthened to 2.8x from 2.5x.
  • This week, we expect this positive performance to be sustained on the back of the improved market sentiment.



Note: For more inquiry and to open a stockbroking account, see contact details below:

Adedoyin Allen     aallen@afrinvest.com           08097783100

Bolaji Fajenyo      bfajenyo@afrinvest.com       08121759032

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 15th October 2021.


Proshare Nigeria Pvt. Ltd.



Related News

1.       Afrinvest Stock Recommendation for the Week 041021

2.      Afrinvest Stock Recommendation for the Week 270921

3.      Afrinvest Stock Recommendation for the Week 020821

4.      Afrinvest Stock Recommendation for the Week 260721

5.      Afrinvest Stock Recommendation for the Week 190721

6.      Afrinvest Stock Recommendation for the Week 120721

7.      Afrinvest Stock Recommendation for the Week 050721

8.     Afrinvest Stock Recommendation for the Week 280621

9.      Afrinvest Stock Recommendation for the Week 070621

10.  Afrinvest Stock Recommendation for the Week 310521

11.   Afrinvest Stock Recommendation for the Week 170521

12.  Afrinvest Stock Recommendation for the Week 100521


Proshare Nigeria Pvt. Ltd.

 

READ MORE:
Related News
SCROLL TO TOP