Afrinvest Stock Recommendation for the Week 260421

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Monday, April 26, 2021 / 02:41 PM / by Afrinvest Research / Header Image Credit: Titan FX


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Market Last Week (Our Observations)

  • Last week, the local bourse recorded gains on all trading sessions as investors cherry-picked bellwether stocks on the back of impressive Q1:2021 earnings release. Consequently, the NSE All-Share Index was up 1.3% w/w with the YTD loss improving to -2.4% as market capitalisation increased to N20.6tn. 
  • Performance across sector was bullish as all indicators under our coverage closed in the green. The Banking index was up 4.8% w/w. The Consumer Goods and AFR-ICT indices trailed, rising 1.0% and 0.6% w/w respectively. The Industrial Goods and Insurance indices rose 0.5% and 0.4% w/w respectively. Finally, the Oil & Gas index rose 0.3% w/w.
  • The top performing stocks for the week were PZ (+21.1%), UPL (+19.6%), and HONYFLOUR (+17.6%) while FTNCOCOA (-22.0%), PORTPAINT (-18.1%) and EKOCORP (-10.0%) led the laggards.
     

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator strengthened to 1.0x from 0.6x recorded previously.
  • This week, we maintain a positive outlook following the expectation of impressive Q1:2021 results.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

  • NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 26th April 2021.


Proshare Nigeria Pvt. Ltd.


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