Tuesday, January04, 2022  / 01:34 PM / by AfrinvestResearch / Header Image Credit: Titan FX

Market Last Week (Our Observations)

• The local bourse concluded trading for 2021 on a positive note. Accordingly, the NGX All-Share Index swung 1.1% higher w/w to settle at 42,716.44 points with the market returning 6.1%. Similarly, market capitalisation rose N471.4bn w/w to N22.3tn.
• Performance was bullish across sectors within our coverage as 4 indices gained while 2 lost. The Consumer Goods and AFR-ICT indices led the advancers, up 6.2% and 4.0% w/w respectively. Also, the Banking and Insurance indices rose 2.6% and 1.9% w/w respectively. Conversely, the Industrial Goods and Oil & Gas indices declined 3.9% and 1.1% w/w.
• The top performing stocks for the week were REGALINS (+18.6%), SOVRENINS (+15.4%), and WAPIC (+14.3%) while MAYBAKER (-10.9%), BUACEMENT (-10.0%), and JAIZBANK (-9.7%) were the top underperforming stocks.

Market This Week (Our Expectations) 

• The Afrinvest weekly sentiment indicator improved to 2.1x from 2.0x.
• We expect the market to resume trading in the New Year on a negative note as we anticipate profit-taking.

• NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 7th January 2022.

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