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Stock Recommendation for the Week March 8th, 2021
(Source: Afrinvest Research , Date: 08-Mar-2021)

 

 

 Dear Afrinvestor,

Market Last Week (Our Observations)

  • The equities market sustained previous week's sell-offs with trades closing southwards on all trading sessions save Monday. Consequently, the benchmark index lost 1.2% w/w to 39,331.61 points. Also, YTD return worsened to -2.3% while market capitalisation fell ₦245.0bn to ₦20.6tn. 
  • Performance across sectors was lacklustre as all indices under our coverage lost save the Industrial Goods index which gained 1.4%. The Consumer Goods index led the losers, down 6.3%. Trailing, the Insurance and Oil & Gas indices fell 5.0% and 2.2% respectively. Similarly, the Banking and AFR-ICT indices were down 1.9% and 1.2% respectively. 
  • MORISON (+20.0%), UNITYBNK (+9.0%) and BETAGLAS (+8.0%) led the top gainers while CHAMPION (-33.3%), OANDO (-23.2%) and NASCON (-19.0%) led the decliners. 

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator waned to 0.9x from the 1.5x recorded last week.
  • This week, we expect a mixed performance with positive bias for bargain hunting.



Note: For more inquiry and to open a stockbroking account, see contact details below:

Adedoyin Allen     aallen@afrinvest.com           08097783100

Bolaji Fajenyo      bfajenyo@afrinvest.com       08121759032

  • NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 8th March 2021.

For more details, kindly contact:
Christopher Omoh Mobile: +234 808 591 9106, Email: comoh@afrinvest.com
Eredappa "" 08097134729 or send e-mail to aaml@afrinvest.com

 

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Best Regards,

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