May 18, 2020 / 4:59 PM / By Afrinvest Research /
Header Image Credit: Afrinvest Research
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.
- NB: Rate
on N100M and above are negotiable and all
rates are valid ONLY for fund received on/before 18th May 2020.
Stock Recommendation for the Week 160320
Stock Recommendations for the Week 090320
Stock Recommendations for the Week 020320
Stock Recommendations for the Week 240220
- GTI Top-5
Weekly Stock Picks for 17th February, 2020
- GTI Top-5
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Stock Recommendations For The Week 301219
Stock Recommendations For The Week 231219