The Nigerian equities market was dominated by the Bulls for the third consecutive week as bullish sentiment persisted on four (4) out of the five (5) trading days in the week. Hence, NSEASI advanced by 0.52% to 26,991.42pts, pegging the YtD at -14.12%.The bullish sentiment in the market last week was spurred by the bargain hunting on stocks across the consumer goods and oil & gas sector. We expect investors to continue their slow return to the equities market, given the dearth of alternatives in the economy. Thus, we expect to see pockets of bargain hunting activities on stocks with impressive fundamentals, driving the market to a positive close this week. Kindly find attached the full report.
Stock Recommendation- 25 November 2019.
The Nigerian equities market was dominated by the Bulls for the third consecutive week as bullish sentiment persisted on four (4) out of the five (5) trading days in the week. Hence, NSEASI advanced by 0.52% to 26,991.42pts, pegging the YtD at -14.12%.The bullish sentiment in the market last week was spurred by the bargain hunting on stocks across the consumer goods and oil & gas sector. We expect investors to continue their slow return to the equities market, given the dearth of alternatives in the economy. Thus, we expect to see pockets of bargain hunting activities on stocks with impressive fundamentals, driving the market to a positive close this week. Kindly find attached the full report.