Monday, January 27,
2020 / 1o:30 AM / By GTI Research
Market review for the week ended January 24th, 2020
The Nigeria equity market last week advanced positively in three of the five trading sessions with most buy interest noticed on the Industrial goods sectors amid profit-taking on Consumer goods and Banking sectors.
In summary, the All Share Index (ASI) gained 10.32 absolute points, representing a 0.03% growth to close at 29,628.84 points.
Similarly, the Market Capitalization gained N5.32 billion, representing a 0.03% increase to close at N15.26 trillion.
The uptrend was impacted by gains recorded in medium and large capitalized stocks, amongst which are; LAWUNION (+38.00%), HONYFLOUR (+14.56%), NEM (+12.23%), WAPCO (+10.76%), TOTAL (+9.35%), BUACEMENT (+5.00%), TRANSCORP (+3.88%), SEPLAT (+2.89%), DNAGCEM (+2.80%) and VITAFOAM (+0.81%).
Outlook for the week ending January 31, 2020
As investor's choice stocks continued to appreciate in price, we expect to see a mixed reaction by active investors in this trading week.
However, we do not rule out the possibility of seeing further staking by investors in expectation of the Full-Year 2019 earning's results as well as declining yields in the alternate market.
GTI Top-5 Weekly Stock Picks For The Period 27/01/2020 - 31/01/2020