Stock Recommendation- 16th September, 2019.

After two weeks of consecutive losses, the Nigerian equities market upturned its bearish run last week as the NSEASI gained 2.33%, moderating the YtD losses to 11.62%. Also, market breadth stood at 2.05x, with thirty-nine (39) gainers and nineteen (19) losers. The market’s performance, last week, was spurred by gains on the heavyweight stocks across the banking and oil and gas sector. On a balance of factors, we expect the market to close down this week, albeit slightly, owing to profit taking activities across the market. find attached for the full report.

After two weeks of consecutive losses, the Nigerian equities market upturned its bearish run last week as the NSEASI gained 2.33%, moderating the YtD losses to 11.62%. Also, market breadth stood at 2.05x, with thirty-nine (39) gainers and nineteen (19) losers. The market’s performance, last week, was spurred by gains on the heavyweight stocks across the banking and oil and gas sector. On a balance of factors, we expect the market to close down this week, albeit slightly, owing to profit taking activities across the market.