Afrinvest Stock Recommendation for the Week 130720

Proshare

Monday, July 13, 2020 / 12:13 PM / By Afrinvest Research / Header Image Credit: Afrinvest Research


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the equities market recorded losses on 2 trading sessions and as a result, the benchmark index declined 12bps w/w to settle at 24,306.36 points. Consequently, market capitalisation lost N15.5bn w/w to close at N12.7tn while YTD return worsened to -9.4%.
  • Performance across sectors under our coverage was bearish as 4 of 6 indices closed south. The Banking  (+5.8%) and AFR-ICT indices (+3bps) were the gainers. Conversely, the Consumer (-4.0%) and Industrial Goods (-2.1%) indices led the laggards. Similarly, the Oil & Gas (-0.7%) and Insurance (-0.7%) indices declined w/w. 
  •  The top gainers were REDSTAREX (+19.5%), PZ (+15.4%) and STERLING (+19.0%) while CUSTODIAN (-10.9%), CONOIL (-10.0%) and BETAGLASS (-9.9%) led decliners.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator improved to 2.1x from the 1.5x recorded in the previous week.
  • This week, We anticipate a halt in the bearish sentiment as investor confidence improves.

     


  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 13th July 2020.

Proshare Nigeria Pvt. Ltd.


Related News

  1. Afrinvest Stock Recommendation for the Week 060720
  2. Equity Market to Sustain Pullback in July; FSDH Top Stock Picks
  3. Afrinvest Stock Recommendation for the Week 290620
  4. Afrinvest Stock Recommendation for the Week 220620
  5. Afrinvest Stock Recommendation for the Week 150620
  6. Afrinvest Stock Recommendation for the Week 010620
  7. Afrinvest Stock Recommendation for the Week 180520
  8. Afrinvest Stock Recommendation for the Week 160320
  9. Afrinvest Stock Recommendations for the Week 090320
  10. Afrinvest Stock Recommendations for the Week 020320
  11. Afrinvest Stock Recommendations for the Week 240220
  12. GTI Top-5 Weekly Stock Picks for 17th February, 2020
  13. GTI Top-5 Weekly Stock Picks for 27th January, 2020
  14. Afrinvest Stock Recommendations For The Week 130120 


 Proshare Nigeria Pvt. Ltd.

 Proshare Nigeria Pvt. Ltd.

 

READ MORE:
Related News
SCROLL TO TOP