Afrinvest Stock Recommendation for the Week 220221

Proshare

Monday, February 22, 2021  / 12:13PM / by Afrinvest Research / Header Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the domestic equities market sustained its bearish performance on 4 of the 5 trading days as a result of sell-offs in bellwether stocks. Consequently, the benchmark index lost 0.6% w/w to 40,186.70 points. Also, market capitalisation fell N130.0bn to N221.0tn while YTD loss fell to 0.2%. 
  • Performance across sectors was bearish w/w as 4 of 6 indices under our coverage closed in the red. The Insurance index led the losers, down 1.7%. Trailing, the Consumer and Industrial Goods indices fell 1.0% and 0.7% respectively. Likewise, the AFR-ICT index was down by 0.6%. Conversely, the Oil & Gas and Banking indices closed in the green, up 4.6% and 0.5% respectively.
  • PORT (+14.4%), JBERGER (+12.8%) and UCAP (+12.4%) led the top gainers while ROYALEX (-16.7%), VITAFOAM (-16.1%) and STANBIC (-14.0%) led the decliners.


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator remained unchanged at 1.4x.
  • This week, we believe appetite for value stocks would increase in the near term as dividend season approaches. Nonetheless, we expect to see profit-taking activities at the start of the week.


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


NB: Rate on N1100M and above are negotiable and all rates are valid ONLY for fund received on/before 22nd February 2021


Proshare Nigeria Pvt. Ltd.


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Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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