The Nigerian equities market endured another bearish week for the fourth consecutive time, shedding 1.68% at the close of trades. Save for the banking index, all other sectoral indices closed downwards. Thus, the YtD return worsened to -15.58%. Last week’s losses were spurred by further sell-offs on heavyweight counters. DANGCEM, hit a new year low at NGN144.20, while SEPLAT and NESTLE also featured on the losers’ chart. Based on these considerations, we expect a negative close for the week. Kindly find attached the full report.
Stock Recommendation- 14th October 2019.
The Nigerian equities market endured another bearish week for the fourth consecutive time, shedding 1.68% at the close of trades. Save for the banking index, all other sectoral indices closed downwards. Thus, the YtD return worsened to -15.58%. Last week’s losses were spurred by further sell-offs on heavyweight counters. DANGCEM, hit a new year low at NGN144.20, while SEPLAT and NESTLE also featured on the losers’ chart. Based on these considerations, we expect a negative close for the week. Kindly find attached the full report