Monday, March 09, 2020 / 10:59
AM / Afrinvest Research / Header Image Credit: Afrinvest
Week (Our Observations)
- Last week, the local bourse recorded a positive
performance as the All-Share Index (ASI) appreciated 0.2% w/w to
settle at 26,279.61 points. As a result, YTD return moderated to -2.1%
while market capitalisation advanced N37.4bn to
- Sector performance was bullish as 4 of 6
indices under our coverage gained. The Industrial and Consumer Goods
indices were the losers, down 4.3% and 5.9% respectively. Conversely, the
Banking and Insurance indices rose 3.8% and 1.4% respectively.
Likewise, the AFRI-ICT and Oil & Gas indices gained 1.8% and 0.8%
in that order.
- The best performing stocks for the week were UAC-PROP (+22.9%),
UAC (+18.9%) and LAWUNION (+16.7%)
while UNILEVER (-13.3%), WAPCO (-11.9%) and NESTLE (-10.0%)
Market This Week (Our Expectations)
- The Afrinvest Weekly Sentiment Indicator
strengthened to 2.2x from the 0.8x recorded in the previous week.
- We anticipate a
mixed performance in the coming week as we expect both profit taking
activities and bargain hunting to dominate trade.
- NB: Rate on N100M and above are
negotiable and all rates are valid ONLY for fund received on/before 9th