Market Last Week (Our Observations)
- Last week, the domestic equities market recorded a positive performance as the NSE All-Share Index appreciated 219bps w/w to settle at 34,885.51 points. Similarly, YTD return improved to 30.0% while market capitalisation rose ₦390.3bn w/w to ₦18.2tn.
- Performance across sectors was bullish as 4 of the 6 indices under our coverage trended northward w/w. The Industrial Goods index led gainers, up 4.4%. Trailing, the AFR-ICT and Oil & Gas indices rose 4.1% and 0.6% respectively. Likewise, the Insurance index inched higher by 0.3%. Conversely, the Banking and Consumer Goods indices lost, down 1.3% and 0.5% respectively.
- NEM (+81.6%), UPDC (+32.5%) and NEIMETH (+12.0%) led the top gainers while JAPAULOIL (-11.1%), HONYFLOUR (-10.8%) and CUSTODIAN (-10.0%) led the underperformers.
Market This Week (Our Expectations)
- The Afrinvest Weekly Sentiment Indicator settled at 1.4x.
- While we anticipate profit-taking this week, we expect the equities market to extend the bullish streak with mild gains.
Note: For more inquiry and to open a stockbroking account, see contact details below:
Adedoyin Allen firstname.lastname@example.org 08097783100
Bolaji Fajenyo email@example.com 08121759032
- NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 30th November 2020.
For more details, kindly contact:
Christopher Omoh Mobile: +234 808 591 9106, Email: firstname.lastname@example.org
Eredappa "" 08097134729 or send e-mail to email@example.com