The Nigerian bourse continued its bearish run last week, as the NSEASI declined by 2.41%, to settle at 28,566.79pts. Consequently, the YtD return worsened to -9.11%. Unlike MTNN, the listing of Airtel Africa Plc. (AIRTELAFRI) did not upturn the bearish sentiment in the market as the counter lost 18.98% in its first week of trading. This, as well as losses on some other heavyweight stocks, caused the market to close down last week. On a balance of factors, we expect a rebound in the market in the coming week.
Stock Recommendation- 15th July, 2019.
The Nigerian bourse continued its bearish run last week, as the NSEASI declined by 2.41%, to settle at 28,566.79pts. Consequently, the YtD return worsened to -9.11%. Unlike MTNN, the listing of Airtel Africa Plc. (AIRTELAFRI) did not upturn the bearish sentiment in the market as the counter lost 18.98% in its first week of trading. This, as well as losses on some other heavyweight stocks, caused the market to close down last week. On a balance of factors, we expect a rebound in the market in the coming week. find attached for the full report.