Afrinvest Stock Recommendation for the Week 120721

Proshare

Monday, July 12, 2021 / 11:28 PM / by Afrinvest Research / Header Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, performance of the Nigerian equities market was mixed as the All Share Index (ASI) closed in the green on 3 of 5 trading sessions. Despite this, the benchmark index declined 0.6% w/w to settle at 37,994.19 points while YTD loss worsened to -5.7%. Market capitalisation decreased by N123.7bn in value to close at N19.8tn. 
  • In terms of sector performance, 4 of 6 indices under our coverage advanced. Leading gainers this week were the Oil & Gas and Banking indices, up 6.5% and 3.3% w/w respectively. In the same vein, the Industrial Goods and Insurance indices rose 0.2% w/w apiece. On the flip side, the AFR-ICT and Consumer Goods indices fell 4.3% and 0.3% w/w respectively.
  • The top performing stocks for the week were UAC-PROP (+33.7%), CUTIX (+21.0%) and JOHNHOLT (+19.7%) while REDSTARE (-15.3%), ETERNA (-14.8%) and LINKASSURE (-12.9%) were the laggards.

Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiments indicator strengthened to 1.9x (from 1.7x).
  • For this week, we expect the domestic equities market to post positive performance as investors anticipate good result from the H1:2021 earnings results. 

Proshare Nigeria Pvt. Ltd.

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


Proshare Nigeria Pvt. Ltd.

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 16th July 2021.


Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

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