Afrinvest Stock Recommendation for the Week 200720

Proshare

Monday, July 20, 2020 / 02:42 PM / By Afrinvest Research / Header Image Credit:Afrinvest Research


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the bearish sentiment in the local bourse persisted as the All-Share Index declined 8bps w/w following losses on 3 of 5 trading days. Consequently, market capitalisation fell to N12.7tn as investors lost N9.8bn while YTD loss worsened to -9.5%.
  • Performance across sectors under our coverage was bearish as 4 of 6 indices closed negative w/w. The AFR-ICT and Industrial Goods indices were the gainers, up 3.9% and 0.5% respectively. On the flip side, the Banking index led laggards, depreciating 3.9%. Likewise, the Insurance, Consumer and Oil & Gas indices declined 1.9% apiece.  
  • The top gainers were CUTIX (+10.3%), NPFMCRBNK (+10.0%) and IKEJAHOTEL (+9.8%) while LINKASSURE (-14.9%), NIGERIAN BREWERIES (-11.9%) and WAPIC (-11.4%) led decliners.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator worsened to 1.8x from the 2.1x recorded in the previous week.
  • This week, we expect market performance to improve on bargain hunting activities.

     

 


  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 20th July 2020.

Proshare Nigeria Pvt. Ltd.

Related News

  1. Afrinvest Stock Recommendation for the Week 130720
  2. Afrinvest Stock Recommendation for the Week 060720
  3. Equity Market to Sustain Pullback in July; FSDH Top Stock Picks
  4. Afrinvest Stock Recommendation for the Week 290620
  5. Afrinvest Stock Recommendation for the Week 220620
  6. Afrinvest Stock Recommendation for the Week 150620
  7. Afrinvest Stock Recommendation for the Week 010620
  8. Afrinvest Stock Recommendation for the Week 180520
  9. Afrinvest Stock Recommendation for the Week 160320
  10. Afrinvest Stock Recommendations for the Week 090320
  11. Afrinvest Stock Recommendations for the Week 020320
  12. Afrinvest Stock Recommendations for the Week 240220
  13. GTI Top-5 Weekly Stock Picks for 17th February, 2020
  14. GTI Top-5 Weekly Stock Picks for 27th January, 2020
  15. Afrinvest Stock Recommendations For The Week 130120

 Proshare Nigeria Pvt. Ltd.

 

READ MORE:
Related News
SCROLL TO TOP