Afrinvest Stock Recommendation for the Week 240521

Proshare

Monday, May 24, 2021   /05:00 PM / by Afrinvest Research / Header Image Credit: Titan FX


Market Last Week (Our Observations)

  • Last week, the local bourse reversed previous week's gains as sell pressure dominated the market on all trading days of the week. The All-Share index declined by 3.0% w/w to 38,324.07 points. Market capitalisation fell by N603.5bn to N20.0tn while YTD loss worsened to -4.8%. 
  • Performance across sectors was bearish as only the Oil & Gas index gained 7.4% w/w. Leading the bearish pack are the AFR-ICT and Industrial Good indices, down 5.6% and 3.3% w/w respectively. Similarly, the Banking and Insurance indices declined by 1.5% and 0.7% w/w respectively. The Consumer Goods index also fell by 3bps w/w.
  • ETERNA (+21.2%), PRESTIGE (+15.2%), and STERLING (+12.8%) led the top gainers while CILEASING (-18.8%), ROYALEX (-18.4%), and LINKASSURE (-13.0%) led the decliners.


Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment indicator was unchanged at 1.5x.
  • This week, we expect the bearish sentiment to continue in the absence of any positive catalyst. 


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 28th May 2021.


Proshare Nigeria Pvt. Ltd.


Related News

1.       Afrinvest Stock Recommendation for the Week 170521

2.      Afrinvest Stock Recommendation for the Week 100521

3.      Afrinvest Stock Recommendation for the Week 260421

4.      Afrinvest Stock Recommendation for the Week 190421

5.      Afrinvest Stock Recommendation for the Week 120421

6.      Afrinvest Stock Recommendation for the Week 290321

7.      Afrinvest Stock Recommendation for the Week 220321

8.     Afrinvest Stock Recommendation for the Week 150321

9.      Afrinvest Stock Recommendation for the Week 080321

10.  Afrinvest Stock Recommendation for the Week 010321

 

 

 Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP