In the previous week, the Nigerian equities market plunged further as the All Share Index shed 0.38%, marking the fourth consecutive week of losses in October. The NSEASI settled at 26,348.73pts, bringing the YtD return to -16.17%. The losses recorded were owing to a mix of unimpressive earnings and general sell-offs across all market indices. This week, we envisage the market dipping further as a combination of tepid earnings and the wave of policy uncertainty, especially in the banking sector is expected to keep the market in a downbeat mood. On a balance of factors, we expect bearish sentiment to dominate the market this week. Kindly find attached the full report.
Stock Recommendation- 28th October 2019.
In the previous week, the Nigerian equities market plunged further as the All Share Index shed 0.38%, marking the fourth consecutive week of losses in October. The NSEASI settled at 26,348.73pts, bringing the YtD return to -16.17%. The losses recorded were owing to a mix of unimpressive earnings and general sell-offs across all market indices. This week, we envisage the market dipping further as a combination of tepid earnings and the wave of policy uncertainty, especially in the banking sector is expected to keep the market in a downbeat mood. On a balance of factors, we expect bearish sentiment to dominate the market this week. Kindly find attached the full report.