Afrinvest Stock Recommendations for the Week 240220

Proshare

Monday, February 24, 2020 / 10:06 AM / Afrinvest Research / Header Image Credit: Afrinvest

 

Market Last Week (Our Observations)

  • Last week, the local bourse closed on an unimpressive note as the All-Share Index (ASI) depreciated 1.3% w/w to settle at 27,388.62 points. As a result, YTD return moderated to 2.0% while market capitalisation fell N187.7tn to N14.3tn.
  • Sector performance was bearish as 4 of 6 indices under our coverage lost. The Consumer Good index led laggards, down 6.8% while the Banking and Insurance indices trailed, declining 2.6% and 2.1% respectively. Similarly, the Oil & Gas index lost 1.3%. On the flip side, the Industrial Goods index gained 1.0% w/w while the AFR-ICT index closed flat.
  • The best performing stocks for the week were CILEASING (+26.9%), AIICO (+26.3%) and UCAP (+17.3%) while LAWUNION (-36.5%), MANSARD (-10.0%) and FORTE (-10.0%) led laggards.


Market This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator stood at 0.9x.
  • Following four weeks of consecutive losses, we expect to see some bargain hunting in early trades next week. However, we maintain a bearish outlook in the near term as overall investor sentiment remains weak.

 

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 24th February 2020.


Proshare Nigeria Pvt. Ltd.


Related News

  1. GTI Top-5 Weekly Stock Picks for 17th February, 2020
  2. GTI Top-5 Weekly Stock Picks for 27th January, 2020
  3. Afrinvest Stock Recommendations For The Week 130120
  4. Afrinvest Stock Recommendations For The Week 060120
  5. Afrinvest Stock Recommendations For The Week 301219
  6. Afrinvest Stock Recommendations For The Week 231219
  7. Afrinvest Stock Recommendation For The Week 161219
  8. Afrinvest Stock Recommendation For The Week 091219
  9. Afrinvest Stock Recommendation For The Week 251119
  10. Afrinvest Stock Recommendation For The Week 041119
  11. Afrinvest Stock Recommendation For The Week 211019
  12. Afrinvest Stock Recommendation For The Week 141019
  13. Afrinvest Stock Recommendation For The Week 071019
  14. Afrinvest Stock Recommendation For The Week 300919

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP