Monday, November 30, 2020   /12:36 PM / by Afrinvest Research/ Header Image Credit:  Afrinvest

Market Last Week (Our Observations)

• Lastweek, the domestic equities market recorded a positive performance as the NSEAll-Share Index appreciated 219bps w/w to settle at 34,885.51 points.Similarly, YTD return improved to 30.0% while market capitalisation rose N390.3bn w/w to N18.2tn.

• Performance across sectors was bullish as 4 of the6 indices under our coverage trended northward w/w. The Industrial Goods indexled gainers, up 4.4%. Trailing, the AFR-ICT and Oil & Gas indices rose4.1% and 0.6% respectively. Likewise, the Insurance index inchedhigher 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%) ledthe top gainers while JAPAULOIL (-11.1%), HONYFLOUR (-10.8%)and CUSTODIAN (-10.0%) led the underperformers.
  

Market This Week (Our Expectations)

• The Afrinvest WeeklySentiment Indicator settled at 1.4x.

• While weanticipate profit-taking this week, we expect the equities market to extend thebullish streak with mild gains.

NB: Rate on N100M and above are negotiable and allrates are valid ONLY for fund received on/before 30th November 2020.

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