Afrinvest Stock Recommendation for the Week 141220

Proshare

Monday, December 14, 2020  /10:32 AM / by Afrinvest Research / Header Image Credit: Afrinvest


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the domestic equities market recorded a bearish performance as the NSE All-Share Index declined 2.5% w/w to settle at 34,250.74 points. Similarly, YTD return moderated to 27.6% while market capitalisation fell N463.7bn w/w to N17.9tn.
  • Performance across sectors was lacklustre as all indices under our coverage trended southward w/w. The Industrial Goods and Banking indices lost the most, declining by 5.0% and 2.9% respectively. Trailing, the Insurance and AFR-ICT indices declined, shedding 1.8% apiece. Similarly, the Consumer Goods and Oil & Gas indices fell 1.6% and 0.3% respectively.
  • FTNCOCOA (+51.7%), UNIONDAC (+16.0%) and OKOMUOIL (+10.0%) led the top gainers while REGALINS (-16.7%), UPL (-14.3%) and NEIMETH (-12.4%) led the underperformers.


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator settled at 1.3x.
  • This week, we anticipate that investors will partake in profit-taking activities.  


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 14th December 2020.


Proshare Nigeria Pvt. Ltd.


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