The Nigerian bourse sustained its bearish run last week, as the NSEASI declined by 2.27%, dragging the All-Share Index to 27,919.50pts and the Ytd return to -11.17%. The selling pressure seen in the market persisted, especially on bellwether stocks which have now been pushed to or close to their lowest levels. This, along with the tepid macroeconomic outlook continue to repress positive sentiment in the market. On a balance of factors, we expect the market to sustain its bearish trend and close down this week.
Stock Recommendation- 22nd July, 2019.
The Nigerian bourse sustained its bearish run last week, as the NSEASI declined by 2.27%, dragging the All-Share Index to 27,919.50pts and the Ytd return to -11.17%. The selling pressure seem in the market persisted, especially on bellwether stocks which have now been pushed to or close to their lowest levels. This, along with the tepid macroeconomic outlook continue to repress positive sentiment in the market. On a balance of factors, we expect the market to sustain its bearish trend and close down this week. find attached for the full report.