Stock Recommendations for the Week (28/09/2020 – 02/10/2020)

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Last week, the Nigerian equity market recorded its biggest gain in over four months, as it closed positive in all the five trading sessions. The impressive run which began on Monday with a 0.01% (₦93bn) gain in Market Capitalization value was further reinforced by Tuesday’s decision of the CBN monetary policy committee to cut the MPR by 100bps to 11.5% and Asymmetric corridor to +100/-700bps of MPR, from +200/-500.

Consequently, the All-Share Index and the Market Capitalization value both appreciated week-on-week by 2.92% to 25,319.34 points and ₦13.75 trillion respectively, from 25,527.57 points and 13.36 trillion last week.

The uptrend was impacted by gains recorded in medium and large capitalized stocks, amongst which are; NB (+25.12%), CORNERST (+16.39%), INTBREW (+9.09%), FLOURMILLS (+8.59%), PRESCO (+8.16%), FIDELITY (+6.74%), GUARANTY (+6.51%), FBNH (+4.04%), SEPLAT (+3.90%), ACCESS (+3.88%), ZENITH (+3.59%), STANBIC (+3.58%), and MTNN (+3.33%).

Outlook for the week ending October 2nd 2020

We expect the CBN accommodative policy-induced-rally witnessed last week to subside this week, as a result of profit-taking by some active traders. Nevertheless, we see the overall market performance index closing the week positive, as market valuation remains attractive for medium and long term investors.

Read Also:  GTI Stock Recommendations For The Week (13/01/2020 - 17/01/2020)

GTI WEEKLY STOCK PICKS FOR THE PERIOD 28/09/2020 – 02/10/2020

Stock Recommendations Brandspurng for the Week (28 09 2020 - 02 10 2020)
GTI Research

- Advertisement -

GTI Research

- Advertisement -
Stock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand SpurStock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read Also:  Nigerian Equity Market: Stock Recommendations for the Week (19/10/2020 – 23/10/2020)

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand SpurStock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand Spur

Latest News

May & Baker Nigeria appoints new Executive and Managing Director as Nnamdi Nathan Okafor takes a bow

Sequel to the Board Meeting of May & Baker Nigeria Plc held on Thursday, 26th November 2020 at the...

Household Consumption Expenditure Contracts By -0.08% in Q2 2020 – NBS

In the first quarter of 2020, Nigeria's real GDP at basic prices grew by 1.87% but declined in the second quarter by -6.10% on a...

NSE Migrates 4 Companies from ASeM to Growth Board

The Nigerian Stock Exchange (NSE) is pleased to announce the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc...

Fidelity Bank’s MD/CEO Designate purchases 5 million shares

Fidelity Bank Nigeria Plc has announced that its Managing Director/CEO Designate, Mrs. Nneka Onyeali-Ikpe has increased her stake in the business via the purchase...

Chinese FMCG companies win 82 million new customers

Despite challenges due to the pandemic, 19 out of the top 22 FMCG companies in China grew their shopper base this year. The top 22...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Stock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand SpurStock Recommendations for the Week (28/09/2020 - 02/10/2020) - Brand Spur