The Afrinvest weekly sentiment improved to 1.6x (previously 1.4x). This week, we expect the market to trade positively on the back of improved investors’ sentiment.
Last week, sell pressure weighed on the benchmark index as it declined 0.1% w/w to print at 104,562.06 points. Resultantly, market capitalisation shed 8bps w/w to ₦59.1tn while YTD return dipped to 39.8% (previously: 40.0%).
Across our coverage sectors, performance was mixed as three indices gained two lost while the Oil & Gas index closed flat. Leading the charge, the Insurance index posted an uptick of 3.2% w/ w. Trailing, the Banking and Industrial Goods indices rose 1.9% and 0.2% w/w, sequentially. Elsewhere, the Consumer Goods and AFR-ICT indices fell 1.0% and 0.4% w/w, respectively.
Top gainers for the week were CWG (+26.1%), MORISON (+24.8%), and JULI (+20.4%), while INTBREW (-14.3%), DANGSUGAR (-11.9%), and GUINEAINS (-10.3%) topped the losers’ chart.
