twitterTweet this! Post to your twitter status
Stock Recommendation for the Week September 28th, 2020
(Source: Afrinvest Research , Date: 28-Sep-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)

  • The equities market reversed previous week's negative return as the All-Share index advanced 2.9% w/w to 26,319.34 points. Consequently, market capitalisation rose by ₦390.4bn to ₦13.8tn while YTD return improved to -1.9%.
  • Sector performance was impressive as all indices under our coverage gained w/w. The Consumer Goods and Banking indices advanced 6.0% and 3.6% w/w respectively. Likewise, the Industrial Goods, AFR-ICT and Oil & Gas indices gained 2.4%, 1.7% and 1.2% w/w respectively. Lastly, the Insurance index appreciated 1.1% w/w.
  • NIGERIAN BREWERIES (+25.1%), CORNERSTONE (+16.4%) and WAPCO (+15.8%) led the top gainers while REDSTAREX (-16.9%), OANDO (-11.7%) and CHAMPION (-10.0%) led the decliners.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator rose to 2.5x from the 1.6x recorded in the previous week.
  • We anticipate a sustained positive performance as investors renew interest due to low yield in the fixed income space.

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 28th September 2020.

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

Top News

View More News