Last week, the Nigerian Equities maket sustained its 6-week bearish streak, as the NSEASI dipped by 1.17%, settling the All-Share Index at 27,630.46pts. Hence, the YtD return came in at -13.12%. Despite the positive investor reaction towards Olam International Limited’s acquisition of Dangote Flour Mills Plc (DANGFLOUR), the negative sentiment across the broader market ensured that the Nigerian equities market remained downbeat. Considering these factors, alongside the shorter number of trading days this week, we do not envisage a market rebound.
Stock Recommendation- 14th August, 2019.
Last week, the Nigerian Equities maket sustained its 6-week bearish streak, as the NSEASI dipped by 1.17%, settling the All-Share Index at 27,630.46pts. Hence, the YtD return came in at -13.12%. Despite the positive investor reaction towards Olam International Limited’s acquisition of Dangote Flour Mills Plc (DANGFLOUR), the negative sentiment across the broader market ensured that the Nigerian equities market remained downbeat. Considering these factors, alongside the shorter number of trading days this week, we do not envisage a market rebound. find attached for the full report.