Afrinvest Stock Recommendation for the Week 260721

Proshare

Monday, July 26, 2021  / 02:08 PM / by Afrinvest Research / Header Image Credit: Titan FX


Proshare Nigeria Pvt. Ltd.



Market Last Week (Our Observations)

  • Last week, the performance of the domestic equities market was bullish as the benchmark index closed in the green on all 3 trading sessions. Consequently, the All Share Index (ASI) rose by 1.9% w/w to settle at 38,667.9 points while YTD loss improved to -4.0%. Market capitalisation increased by N375.5bn in value to close at N20.1tn. 
  • Performance across sectors under our coverage was bullish as 4 indices advanced, 1 index lost while the AFR-ICT index closed flat for the week. Leading the gainers are the Oil & Gas and Industrial Goods indices, up 7.5% and 4.1% w/w respectively. Similarly, the Consumer Goods and Banking indices gained 0.6% and 0.4% w/w respectively. Conversely, the Insurance index declined by 0.7% w/w.
  • The top-performing stocks for the week were CUTIX (+32.5%), TOTAL (+21.0%), and OANDO (+20.7%) while SOVRENIN (-12.1%), AIICO (-7.8%), and REDSTAREX (-4.8%) led the top underperforming stocks for the week.

 

Market This Week (Our Expectations) 

  • The Afrinvest weekly sentiments indicator improved to 3.1x (from 1.3x).
  • For this week, we expect the positive momentum to be sustained, as more impressive H1:2021 earnings results are churned out. 
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 30th July 2021.


Proshare Nigeria Pvt. Ltd.


Related News

1.       Afrinvest Stock Recommendation for the Week 190721

2.      Afrinvest Stock Recommendation for the Week 120721

3.      Afrinvest Stock Recommendation for the Week 050721

4.      Afrinvest Stock Recommendation for the Week 280621

5.      Afrinvest Stock Recommendation for the Week 070621

6.      Afrinvest Stock Recommendation for the Week 310521

7.      Afrinvest Stock Recommendation for the Week 170521

8.     Afrinvest Stock Recommendation for the Week 100521

9.      Afrinvest Stock Recommendation for the Week 260421

10.  Afrinvest Stock Recommendation for the Week 190421

11.   Afrinvest Stock Recommendation for the Week 120421

12.  Afrinvest Stock Recommendation for the Week 290321

13.  Afrinvest Stock Recommendation for the Week 220321

14.  Afrinvest Stock Recommendation for the Week 150321

15.  Afrinvest Stock Recommendation for the Week 080321

16.  Afrinvest Stock Recommendation for the Week 010321


Proshare Nigeria Pvt. Ltd.

 

READ MORE:
Related News
SCROLL TO TOP