Stock Recommendation- 28th October 2019.

In the previous week, the Nigerian equities market plunged further as the All Share Index shed 0.38%, marking the fourth consecutive week of losses in October. The NSEASI settled at 26,348.73pts, bringing the YtD return to -16.17%. The losses recorded were owing to a mix of unimpressive earnings and general sell-offs across all market indices. This week, we envisage the market dipping further as a combination of tepid earnings and the wave of policy uncertainty, especially in the banking sector is expected to keep the market in a downbeat mood. On a balance of factors, we expect bearish sentiment to dominate the market this week. Kindly find attached the full report.

In the previous week, the Nigerian equities market plunged further as the All Share Index shed 0.38%, marking the fourth consecutive week of losses in October. The NSEASI settled at 26,348.73pts, bringing the YtD return to -16.17%. The losses recorded were owing to a mix of unimpressive earnings and general sell-offs across all market indices. This week, we envisage the market dipping further as a combination of tepid earnings and the wave of policy uncertainty, especially in the banking sector is expected to keep the market in a downbeat mood. On a balance of factors, we expect bearish sentiment to dominate the market this week. Kindly find attached the full report.