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
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
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%).
- NB: Rate
on ₦100M and above are negotiable and all rates are valid
ONLY for fund received on/before 9th November 2018