For the second consecutive week, the domestic bourse closed higher, with gains on three (3) of the four (4) trading days. The strong charge was led by banking stocks, which added 6.77%, with support from tickers in the industrial and consumer goods sectors to settle the NSEASI higher by 2.04% at 26,851.68pts. The positive sentiment was driven by significant bargain hunting activities by excess funds from the money market. This week, we expect sentiment to be mixed in the equities market. Last week’s significant rally has opened up opportunities for profit-taking on stocks that posted extended rallies. However, we posit that the market remains fundamentally undervalued, and investors still have a number of options to place their funds. We expect this to drive the market even higher this week. Kindly find attached the full report.
Weekly stock recommendation- 18 November 2019.
For the second consecutive week, the domestic bourse closed higher, with gains on three (3) of the four (4) trading days. The strong charge was led by banking stocks, which added 6.77%, with support from tickers in the industrial and consumer goods sectors to settle the NSEASI higher by 2.04% at 26,851.68pts. The positive sentiment was driven by significant bargain hunting activities by excess funds from the money market. This week, we expect sentiment to be mixed in the equities market. Last week’s significant rally has opened up opportunities for profit-taking on stocks that posted extended rallies. However, we posit that the market remains fundamentally undervalued, and investors still have a number of options to place their funds. We expect this to drive the market even higher this week. Kindly find attached the full report.