The Nigerian Equities market edged further into bearish territory last week, as the NSEASI shed by 1.03%, settling the All-Share Index at 27,630.46pts. Hence, the Ytd return came in at -12.09%. While the market initially reacted to positive earnings releases and declaration of dividends on counters such as MTNN and SEPLAT, we eventually saw profit taking activities on these stocks, causing the market to trend downwards for the better part of the week. On a balance of factors, we expect that the market will remain in the downtrend this week, hence a further loss by the end of the week.
Stock Recommendation- 5th August, 2019.
The Nigerian Equities market edged further into bearish territory last week, as the NSEASI shed by 1.03%, settling the All-Share Index at 27,630.46pts. Hence, the Ytd return came in at -12.09%. While the market initially reacted to positive earnings releases and declaration of dividends on counters such as MTNN and SEPLAT, we eventually saw profit taking activities on these stocks, causing the market to trend downwards for the better part of the week. On a balance of factors, we expect that the market will remain in the downtrend this week, hence a further loss by the end of the week. find attached for the full report.