The bears prevailed in the Nigerian Bourse last week, as the NSEASI lost 0.99%, extending the YtD losses to -12.42%. Market’s performance was dragged by the profit taking activites recorded on counters across different sectors. Bargain hunting by investors on two trading days were not strong enough to drive bullish sentiment in the market. On a balance of factors, we expect the bearish sentiment in the market to persist, although moderted slightly by some bargain hunting activities.
Stock Recommendation- 2nd September, 2019.
The bears prevailed in the Nigerian Bourse last week, as the NSEASI lost 0.99%, extending the YtD losses to -12.42%. Market’s performance was dragged by the profit taking activites recorded on counters across different sectors. Bargain hunting by investors on two trading days were not strong enough to drive bullish sentiment in the market. On a balance of factors, we expect the bearish sentiment in the market to persist, although moderted slightly by some bargain hunting activities. find the attached for the full report.