Monday,
July 27, 2020 / 3:11 PM / By Afrinvest Research / Header Image Credit: Afrinvest
Market Last
Week (Our Observations)
Last week, the local bourse closed in the
positive region as the NSE All-Share Index appreciated 0.6% w/w to settle
at 24,427.30 points despite losing on 4 of 5 trading sessions.
Consequently, market capitalisation rose N73.1bn
w/w to close at N12.7tn while
YTD loss eased to -9.0%.
Performance across sectors under our coverage was
bearish as 4 of 6 indices closed negative w/w. The Industrial
Goods and AFR-ICT indices were the gainers, up 0.9% and 0.6%
respectively. On the flip side, the Oil & Gas index led laggards,
depreciating 4.7%. Likewise, the Insurance, Banking and Consumer
Goods indices declined 0.8%, 0.6% and 0.4% in that order.
The top-performing stocks for the week were FIDSON (+18.1%),
UNITYBNK (+15.6%) and ROYALEX (+14.8%)
while PRESTIGE (-14.8%), INTBREW (-10.5%)
and SEPLAT (-10.0%) were the laggards.
Market This
Week (Our Expectations)
The Afrinvest Weekly Sentiment Indicator improved
to 2.0x from the 1.8x recorded in the previous week.
This week, we expect
more corporate earnings releases to dictate the performance of the market.
NB: Rate
on N100M and above are negotiable and all
rates are valid ONLY for fund received on/before 27th July 2020.