Stock Recommendation for The Week 051118

Proshare

Monday, November 05, 2018 / 12:53 PM / Afrinvest Research

 
Market Last Week (Our Observation)

Last week, the local bourse posted a negative performance as the All Share Index (ASI)

 dipped 2.4% W-o-W to settle at 32,124.94 points while YTD loss moderated to -16.0%.


Across sectors, performance was also bearish as all 5 indices under our coverage receded

W-o-W. The Industrial Goods index led decliners, down 4.1% W-o-W while the Consumer

 Goods and Oil & Gas indices, declined 3.2% and 2.6% W-o-W respectively. Similarly,

the Insurance and Banking indices lost 2.4% and 0.4% W-o-W respectively.

Best performing stocks were PRESCO (+12.9%), NEIMETH (+11.1%) and AIRSERVI

(+10.0%) while UNITYBNK (-21.1%), DANGFLOUR (-21.1%) and CCNN (-18.8%) were

the worst performing stock.

Markets This Week (Our Expectations)

The Afrinvest weekly sentiment indicator stood 1.4 points as market
breadth remained soft.

This week we expect investors bargain hunting activities to drive price

appreciation in fundamentally robust stocks while maintaining a bearish

outlook over the near-term.

Performance of stocks on our equity watch-list from track period till date are as

follows; CUSTODIAN (+4.2%), OKOMU (+3.6%), GUARANTY

(+2.1%), GUINNESS (-1.3%) and UBA (-4.8%).


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

  • NB: Rate on 100M and above are negotiable and all rates are valid ONLY for fund received on/before 9th November 2018

 Proshare Nigeria Pvt. Ltd.

 

Related News

  1. Afrinvest Stock Recommendation for the Week - 151018
  2. Afrinvest Stock Recommendation for the Week - 081018
  3. Afrinvest Stock Recommendation for the Week - 240918
  4. Afrinvest Stock Recommendation for the Week - 170918
  5. Afrinvest Stock Recommendation for the Week - 100918
  6. Afrinvest Stock Recommendation for the Week -030918
  7. Afrinvest Stock Recommendation for the Week - 270818
  8. Cordros Weekly Stock Recommendation – 130818
  9. Afrinvest Stock Recommendation for the Week – 130818
  10. Cordros Weekly Stock Recommendation – 060818
  11. Afrinvest Stock Recommendation for the Week – 060818
  12. Afrinvest Stock Recommendation for the Week – 300718
  13. Cordros Weekly Stock Recommendation – 300718

READ MORE:
Related News
SCROLL TO TOP