Afrinvest Stock Recommendation for the Week 180520

Proshare

Monday, May 18,  2020 / 4:59 PM  / By Afrinvest Research / Header Image Credit: Afrinvest Research

 

Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the equities market posted a loss as the All-Share Index (ASI) declined 0.7% w/w to settle at 23,871.33 points. As a result, YTD return worsened to -11.1% while market capitalisation fell N90.7bn w/w to close at N12.4tn.
  • Sector performance was bearish as 4 of 6 indices that we track closed in the red w/w. The Industrial Goods (-2.2%) and Insurance (-0.6%) indices lost the most. Trailing, the AFR-ICT (-0.3%) and Banking (-3bps) indices also closed the week negative. Conversely, the Consumer Goods and Oil & Gas indices were the lone gainers, up 2.3% and 1.6% w/w.
  • The top performing stocks for the week were NPFMCRFB (+50.8%), UNILEVER (+21.0%) and MAYBAKER (+20.9%) while UAC-PROP (-13.0%), CAP (-9.8%) and ARBICO (-9.7%) were the laggards.


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator weakened to 1.7x from the 3.4x recorded last week.
  • This week, we anticipate a mixed performance as investors react to more corporate earnings releases. Additionally, we expect to see some bargain hunting activities in early trading sessions.

   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 18th May 2020.


Proshare Nigeria Pvt. Ltd.


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