Stock Recommendation for the Week April 6th, 2020 (Source: InfoWARE, Date: 06-Apr-2020)

Click here to download the Fundamental Stock Recommendation for the week.
Click here to download the Corporate Actions for the week.



 Dear Afrinvestor,

Market Last Week (Our Observations)

  • Last week, the equities market maintained its downtrend as the All-Share Index (ASI) depreciated 3.5% w/w to settle at 21,094.62 points. As a result, YTD return worsened to -21.4% while market capitalisation declined Ã¢â€šÂ¦399.8bn w/w to close at ₦11.0tn.
  • Sector performance was bearish as 5 of 6 indices under our coverage trended southward w/w. The Banking (-5.3%) and AFR-ICT (-4.2%) indices led laggards. Similarly, the Consumer Goods (-3.9%), Insurance (-1.2%) and Industrial Goods (-0.3%) indices lost w/w. Lastly, the Oil & Gas appreciated 2.3% w/w.
  • The top-performing stocks for the week were GLAXOSMITH (+24.7%), LIVESTOCK (+18.6%) and CADBURY (+12.9%) while NIGERIAN BREWERIES (-13.7%), ETI (-12.4%) and CUSTODIAN (-11.0%) were the laggards.

Market This Week (Our Expectations)

  • The Afrinvest Weekly Sentiment Indicator waned to 1.5x from the 4.7x recorded last week.
  • Following four weeks of consecutive losses, we expect to see some bargain hunting in early trades this week. However, we maintain a bearish outlook in the near term as investors continue to react to the global pandemic, although the proposed OPEC+ meeting scheduled for Thursday may tilt sentiment to the upside in the week ahead.



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

Adedoyin Allen           08097783100

Bolaji Fajenyo       08121759032

  • NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 6th April 2020.

For more details, kindly contact:
Christopher Omoh Mobile: +234 808 591 9106, Email:
Eredappa – 08097134729 or send e-mail to

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