Afrinvest Stock Recommendation for the Week 160320

Proshare

Monday, March 16,  2020 /10:20 AM / By Afrinvest Research / Header Image Credit: Afrinvest

 

Market Last Week (Our Observations)

  • Last week, the local bourse resumed its bearish performance as the All-Share Index (ASI) depreciated 13.5% w/w to settle at 22,733.35 points. As a result, YTD return worsened to -15.3% while market capitalization declined N1.8tn to N11.8tn.
  • Sector performance was largely bearish as all indices under our coverage lost. The Banking index led the laggards, down 26.2%. Likewise, the AFRI-ICT and Consumer Goods indices fell 14.8% and 10.7% respectively. The Oil & Gas, Insurance and Industrial Goods indices trailed, down 8.5%, 5.7% and 5.4% respectively. 
  • The best performing stock for the week was CORNERSTONE (+6.0%) while CADBURY (-38.9%), ZENITH (-36.7%) and ACCESS (-36.5%) led laggards.


Market This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator strengthened to 1.7x from the 2.2x recorded in the previous week.
  • In the coming week, we expect the bearish performance to continue as the economic outlook of the country remains uncertain.

  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 16th March 2020.

Proshare Nigeria Pvt. Ltd.


Related News

  1. Afrinvest Stock Recommendations for the Week 090320
  2. Afrinvest Stock Recommendations for the Week 020320
  3. Afrinvest Stock Recommendations for the Week 240220
  4. GTI Top-5 Weekly Stock Picks for 17th February, 2020
  5. GTI Top-5 Weekly Stock Picks for 27th January, 2020
  6. Afrinvest Stock Recommendations For The Week 130120
  7. Afrinvest Stock Recommendations For The Week 060120
  8. Afrinvest Stock Recommendations For The Week 301219
  9. Afrinvest Stock Recommendations For The Week 231219
  10. Afrinvest Stock Recommendation For The Week 161219
  11. Afrinvest Stock Recommendation For The Week 091219
  12. Afrinvest Stock Recommendation For The Week 251119
  13. Afrinvest Stock Recommendation For The Week 041119
  14. Afrinvest Stock Recommendation For The Week 211019

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP