Wednesday, December29, 2021 / 11:42 AM / by AfrinvestResearch / Header Image Credit: Titan FX

Market Last Week (Our Observations)

• The domestic market closed the week on a bearish note as the NGX All-Share Index declined 0.2% w/w to settle at 42,262.85 points. Accordingly, YTD return fell to 4.9% from 5.2% the prior week.
• Nonetheless, performance was bullish across sectors within our coverage as 4 of 6 indicators gained, led by the Insurance and Consumer Goods indices up 1.8% and 0.8% w/w respectively. Trailing, the Industrial Goods and Banking indices closed the week higher by 0.4% and 0.1% respectively. On the flip side, the AFR-ICT and Oil & Gas indices declined 1.2% and 0.5% w/w sequentially.
• The top performing stocks last week were MBENEFIT (+23.1%), UBN (+20.7%), and ROYALEX (+11.6%) while JBERGER (-9.9%), MRSOIL (-9.9%), and CORNERST (-9.8%) were the top underperforming stocks.

Market This Week (Our Expectations) 

• The Afrinvest weekly sentiment indicator strengthened to 2.0x from 1.7x.
• In the last trading week of the year, we expect the market to extend previous week's negative performance as investors rebalance their portfolio.

NB: Rate on N100M and above are negotiable and all rates are valid ONLY forfunds received on/before 7th January 2022.

RelatedNews

1.       Afrinvest StockRecommendation for the Week 131221

2.      Afrinvest StockRecommendation for the Week 061221

3.      AfrinvestStock Recommendation for the Week 291121

4.      AfrinvestStock Recommendation for the Week 221121

5.      Afrinvest StockRecommendation for the Week 151121

6.      AfrinvestStock Recommendation for the Week 081121

7.      AfrinvestStock Recommendation for the Week 011121

8.     AfrinvestStock Recommendation for the Week 181021

9.      AfrinvestStock Recommendation for the Week 111021

10.  AfrinvestStock Recommendation for the Week 041021

11.   Afrinvest StockRecommendation for the Week 270921

12.  Afrinvest Stock Recommendation for the Week 020821