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WEEKLY STOCK RECOMMENDATION
(Source: Securities Africa Nigeria Research, Date: 20-Nov-2023)

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Dear Esteemed Investor,

 

Market activities for the week ended Friday, November 17, 2023 closed bullish. The bulls triumphed in four (4) out of the five (5) trading days as MTNN (+2.35%), SEPLAT (+6.06%) and ACCESSCORP (+0.29%) boosted the broader index. The NGX ASI thus closed higher increasing by 0.37% w/w to close at 71,112.99 for the week. The positive sentiment for the week was driven by the upturn in oil & gas Index (+2.61%), Insurance Index (+0.91%) and consumer goods Index (+0.24%). The Industrial Index (-1.18%), banking Index (-0.04%) were the only bearish index.

 

Kindly click https://www.securitiesafricang.com/wp-content/uploads/2023/11/Stock-Recommendation-SECURITIES-AFRICA-November-20-2023.pdf for the stock recommendation report.

 

Rating Definitions

BUY/ACCUMULATE "" Expected return of 8% and higher

HOLD "" Expected return of between 0% and 7%

SELL "" Expected return of 1% and below

 

For more information and guidance, please contact the under listed:

 

Olanike-  08037164599 - otunde-ayinuola@securitiesafrica.com

Olalekan- 08065010929 - oolagunju@securitiesafrica.com

Toyin-    08030515882 - tolaogun@securitiesafrica.com

 

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Securities Africa Financial Limited

Securities Africa Financial Limited | 5th Floor Skye Bank Building | 30 Marina | Lagos | Nigeria

Main: +234 (909) 440 4638

Email: researchng@securitiesafrica.com | Web: www.securitiesafricang.com

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