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Stock Recommendation for the Week October 26th, 2020
(Source: Afrinvest Research , Date: 26-Oct-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 sustained gains as the All-Share index advanced 0.1% w/w to 28,697.06 points. Consequently, market capitalisation rose by ₦19.7bn to ₦15.0tn while YTD return settled at 6.9%.
  • Sector performance was bearish as 4 of 6 indices under our coverage lost w/w. The Consumer Goods and AFR-ICT indices advanced 2.9% and 2bps w/w respectively. Conversely, the Banking and Oil & Gas indices declined 1.5% and 0.7% w/w respectively. Lastly, the Insurance and Industrial Goods indices lost 0.6% and 0.1% w/w respectively. 
  • INTBREW (+18.2%), CUTIX (+17.3%) and NASCON (+10.0%) led gainers while NNFM (-9.9%), LINKASSURE (-9.1%) and ETERNA (-9.0%) led the decliners. 

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator remained unchanged at the 2.6x recorded in the previous week.
  • We believe the trend in corporate earnings releases would influence market performance this week.




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 26th October 2020.

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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