Bearish sentiment dominated the Nigerian equities market last week, due to profit taking. Consequently, the NSEASI shed 0.29%, worsening the YtD loss to 11.87%. The market return was impacted by the significant sell-off on AIRTELAFRI, the third largest stock by market capitalization. The overbearing trend in the market remains bearish. Hence, we expect the market to close down this week, due to profit taking activities across counters.
Stock Recommendation- 23rd September, 2019.
Bearish sentiment dominated the Nigerian equities market last week, due to profit taking. Consequently, the NSEASI shed 0.29%, worsening the YtD loss to 11.87%. The market return was impacted by the significant sell-off on AIRTELAFRI, the third largest stock by market capitalization. The overbearing trend in the market remains bearish. Hence, we expect the market to close down this week, due to profit taking activities across counters. find attached for the full report.