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Afrinvest Stock Recommendation for the Week 201221

Dec 20, 2021   •   by   •   Source: Proshare   •   eye-icon 771 views

Monday, December20, 2021 / 01:05 PM / by AfrinvestResearch / Header Image Credit: Titan FX

 

MarketLast Week (Our Observations)

  • Despite weak investor sentiment last week, the NGX All-Share Index advanced 1.1% w/w to settle at 42,353.31 points. Accordingly, YTD return improved to 5.2% from 4.0% the prior week.
  • Across sectors within our purview, performance was bullish as 4 out of 6 sectors gained, led by the AFR-ICT index with a 3.5% w/w appreciation. Trailing, the Consumer Goods, Industrial Goods, and Insurance indices rose 0.6%, 0.4%, and 4bps w/w respectively. On the flip side, the Banking and Oil & Gas indices shed 1.8% and 0.6% w/w sequentially.
  • The top outperformers for the week were MEYER (+27.3%), ROYALEX (+15.0%), and FTNCOCOA (+13.5%) while CHAMPION (-13.7%), ETRANZACT (-9.6%), and CUTIX (-9.4%) were the top underperforming stocks.

MarketThis Week (Our Expectations) 

  • The Afrinvest weekly sentiment indicator weakened to 1.7x from 2.4x.
  • This week, we expect the market to extend positive performance, driven by bargain purchase as investors continue to review their portfolio ahead of the new year.


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


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