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.
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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