The Nigerian equities market lost 2.48% last week as considerable losses on some large cap stocks and general bearish sentiment dragged the market to a negative close. The YtD return therefore worsened to -14.14%. Last week’s market downturn was spurred by significant selloffs on stocks across the consumer goods, banking and oil & gas sectors. On a balance of factors, we expect a negative close for the week. Kindly find attached the full report.
Stock Recommendation- 7th October 2019.
The Nigerian equities market lost 2.48% last week as considerable losses on some large cap stocks and general bearish sentiment dragged the market to a negative close. The YtD return therefore worsened to -14.14%. Last week’s market downturn was spurred by significant selloffs on stocks across the consumer goods, banking and oil & gas sectors. On a balance of factors, we expect a negative close for the week. Kindly find attached the full report.