Afrinvest Stock Recommendations For The Week 130120

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Monday, January 13,  2020  /11:54 AM / By Afrinvest Research / Header Image Credit: Afrinvest

 

Market Last Week (Our Observations)

  • Last week, the local bourse closed on an impressive note as the All-Share Index (ASI) appreciated 9.1% w/w to settle at 29,415.39 points. As a result, YTD return improved to 9.6% while market capitalisation climbed N2.2tn to N15.2tn (partly due to the listing of BUA cement).

 

  •  Sector performance was bullish as 5 of 6 indices under our coverage gained. The Industrial Good index led gainers, up 22.3% while the Banking and AFR-ICT indices trailed, rising 8.4% and 3.5% respectively. Similarly, the Insurance and Consumer Goods indices gained 2.1% and 0.8% respectively. On the flip side, the Oil & Gas index lost 2bps w/w.

 

  • The best performing stocks for the week were DANGCEM (+21.1%), PRESCO (+19.8%) and LIVESTOC (+18.0%) while UPDC (-18.6%), NCR (-10.0%) and UNIONDICON (-9.9%) led laggards.


Market This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator strengthened to 1.7 points from the 1.6 points recorded in the previous week.

  • This week, we expect a mixed performance as investors are likely to take profits due to relatively high stock prices.


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 23rd December 2019.


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Proshare Nigeria Pvt. Ltd.


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