After two weeks of consecutive losses, the Nigerian equities market upturned its bearish run last week as the NSEASI gained 2.33%, moderating the YtD losses to 11.62%. Also, market breadth stood at 2.05x, with thirty-nine (39) gainers and nineteen (19) losers. The market’s performance, last week, was spurred by gains on the heavyweight stocks across the banking and oil and gas sector. On a balance of factors, we expect the market to close down this week, albeit slightly, owing to profit taking activities across the market.
Stock Recommendation- 16th September, 2019.
After two weeks of consecutive losses, the Nigerian equities market upturned its bearish run last week as the NSEASI gained 2.33%, moderating the YtD losses to 11.62%. Also, market breadth stood at 2.05x, with thirty-nine (39) gainers and nineteen (19) losers. The market’s performance, last week, was spurred by gains on the heavyweight stocks across the banking and oil and gas sector. On a balance of factors, we expect the market to close down this week, albeit slightly, owing to profit taking activities across the market. find attached for the full report.