Afrinvest Stock Recommendation for the Week 251021

Proshare

Monday, October 25, 2021   /1:20 PM / by Afrinvest Research / Header Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.


Market Last Week (Our Observations)

  • Last week, the local bourse sustained its bullish performance with the benchmark index rising 0.8% w/w to 41,763.26 points. Similarly, YTD return further improved to 3.7% and market capitalisation rose N169.7bn w/w to N21.8tn.
  • Performance across the sectors within our coverage was bullish as 4 of 6 indicators closed in the green. The Industrial Goods and Oil & Gas indices gained 2.6% and 1.4% w/w respectively. Likewise, the Banking and AFR-ICT indices rose 0.7% and 0.3% w/w respectively. On the flip side, the Insurance and Consumer Goods indices declined 1.3% and 1.1% w/w respectively.
  • The top outperformers for the previous week were CUTIX (+21.0%), UNILEVER (+9.8%), and CUSTODIAN (+9.6%) while ROYALEX (-17.2%), UNIVINSURE (-9.1%), and ACADEMY (-8.3%) led the laggards. 


Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiment indicator weakened to 1.8x from 4.1x.
  • This week, we expect market performance to remain upbeat as investors take position ahead of upcoming Q3:2021 earnings releases. 


Proshare Nigeria Pvt. Ltd.


NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 29th October 2021


Proshare Nigeria Pvt. Ltd.


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