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Stock Recommendation for the Week November 30th, 2020
(Source: Afrinvest Research , Date: 30-Nov-2020)

 Dear Afrinvestor,

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           08097783100

Bolaji Fajenyo       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:
Eredappa "" 08097134729 or send e-mail to


To get the latest update on the Nigerian Capital Market and the Economy, kindly follow us on: Twitter @Afr_Research

Best Regards,

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