NGX | Afrinvest Weekly Stock Recommendation - August 2, 2021

    Last week, the performance of the domestic equities market was mixed as the benchmark index closed in the green on 2 of the 5 trading sessions. Consequently, the All Share Index (ASI) declined by 31bps w/w to settle at 38547.08 points while YTD loss worsened to -4.3%. Market capitalisation fell by ₦62.9bn in value to close at ₦20.1tn. Activity level was mixed as average volume fell by 6.9% to 274.8m units while average value traded rose by 36.3% to ₦2.4bn.


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    Afrinvest (West Africa) Limited is a leading independent investment banking firm with a focus on West Africa and active in four principal areas: investment banking, securities trading, asset management, and investment research. Afrinvest owns two operating subsidiaries namely: • Afrinvest Securities Limited (ASL) which is a broker-dealer and a dealing member of the Nigerian Stock Exchange (“NSE”): and • Afrinvest Asset Management Limited (AAML) which is licensed as a portfolio manager and is the Fund Manager of two mutual funds listed on the NSE, the Nigerian International Debt Fund (NIDF) and the Afrinvest Equity Fund (AEF).
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