Afrinvest Stock Recommendation for the Week 150620

Proshare

Monday, June 15, 2020 / 12:22 PM / By Afrinvest Research / Header Image Credit: Afrinvest


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the equities market posted a bullish performance as the All-Share index gained 0.6% w/w to close at 25,182.67 points. As a result, market capitalisation appreciated N82.8bn to settle at N13.1tn while YTD loss improved to -6.2%.
  • Performance across sectors was positive as 4 of the 6 indices under our coverage closed the week positive. The Insurance (+3.7%) and Industrial Goods (+2.2%) indices led gainers. Trailing, the Banking (+0.5%) and AFR-ICT (+0.5%) indices expanded w/w. Conversely, the Oil & Gas (-3.3%) and Consumer Goods (-0.2%) indices closed the week in the red.
  • NEIMETH (+45.2%), ROYALEX (+20.0%) and PRESTIGE (+18.6%) recorded the best performance while JAPAULOIL (-16.7%), REDSTAREX (-13.4%) and MOBIL (-9.9%) were the top losers


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator stood at 1.9x.
  • In the week ahead, we expect the bullish streak to be sustained as investors position in attractive stocks and sentiment improves due to a rebound in global oil prices.

   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 June 2020.

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
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