Afrinvest Stock Recommendation for the Week 150221

Proshare

Monday, February 15, 2021   /11:53 AM / by Afrinvest Research / Header Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, performance in the equities market ended southwards following losses on all trading sessions save Thursday. Consequently, the benchmark index lost 3.0% w/w to 40,439.85 points. Also, market capitalisation fell N662.7bn to N21.2tn while YTD return lowered to 0.4%. 
  • Performance across sectors was lacklustre w/w as all indices under our coverage lost save the AFR-ICT index which gained 0.6%. The Banking index led the losers, down 8.8%. Trailing, the Insurance and Industrial Goods indices fell 6.5% and 5.7% respectively. Similarly, the Oil & Gas and Consumer Goods indices was down by 1.0% and 0.9% respectively. 
  • MBENEFIT (+10.5%), MORISON (+10.0%) and UPDC (+9.1%) led the top gainers while NNFM (-18.8%), NEM (-18.0%) and ROYALEX (-16.7%) led the decliners.


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator waned to 1.4x from the 1.5x recorded the previous week.
  • This week, we expect earnings result to direct performance and investors to seek bargain hunting opportunities.


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 15th February 2021.


Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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