Monday, January 18, 2021 / 11:50 AM / By Afrinvest Research / HeaderImage Credit: Titan FX

Market LastWeek (Our Observations)

• The equities market reversed previous week's losses with strong buying interest, recording gains on all 5 trading sessions. As a result, the All-Share index increased 2.6% w/w to 41,176.14 points. Investors gained N552.1bn as market capitalisation rose to N21.5tn while YTD return turned positive at 2.2%.
• Performance across sectors was impressive as all indices under our coverage appreciated w/w. The Insurance index gained the most, advancing 17.5% w/w. Similarly, the Oil & Gas and Consumer Goods indices appreciated 7.3% and 3.1% w/w respectively. The Industrial Goods and Banking indices also gained 2.8% and 2.5% w/w respectively. Lastly, the AFR-ICT index increased 1.5% w/w. 
• MBENEFIT (+50.0%), ROYALEX (+47.8%) and MANSARD (+34.5%) led the top gainers while CUTIX (-12.9%), DAARCOMM (-10.0%) and CHELLARAMS (-10.0%) led the decliners. 

Market ThisWeek (Our Expectations) 

• The Afrinvest Weekly Sentiment Indicator settled at 1.9x.
• This week, we believe the bullish momentum would be sustained due to positive sentiments. Although, we may see some profit-taking activities.

• NB: Rate on N100M and above are negotiable and all rates are valid ONLY for fund received on/before 18th January 2021.

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