twitterTweet this! Post to your twitter status
Stock Recommendation for the Week October 5th, 2020
(Source: Afrinvest Research , Date: 05-Oct-2020)

 Dear Afrinvestor,

Market Last Week (Our Observations)

  • The equities market closed in the positive region last week as the All-Share Index expanded 2.5% w/w to 26,985.77 points. Furthermore, market capitalisation rose ₦350.1bn w/w to ₦14.1tn while YTD return settled at 0.5%.
  • Sector performance was bullish as 5 of 6 indices under our coverage recorded gains w/w. The Banking and Industrial Goods indices led gainers, up 4.2% and 3.2% w/w while the AFR-ICT, Oil & Gas and Insurance indices appreciated 2.5%, 1.6% and 0.6% w/w respectively. Conversely, the Consumer Goods index depreciated 0.7%  w/w.
  • TOTAL (+21.0%), OANDO (+12.8%) and STERLING (+10.3%) were the top gainers while CORNERSTONE (-15.5%), UPL (-12.7%) and ETRANZACT (-10.0%) led the decliners.

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator surged to 3.9x from the 2.5x that was recorded in the previous week.
  • We anticipate a sustained bullish run this week as investors continue to position in fundamentally sound stocks ahead of earnings releases for the third quarter.



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 5th October 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