Nigerian Equity Market: Stock Recommendations for the Week (07/12/2020 – 11/12/2020)

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Last week, the local bourse extends positive moment with a week-on-week gain of 0.72% in the All-Share Index, despite sell-pressure prevailing in two of the five trading sessions.

However, the Market Capitalization value appreciated by 0.75% due to the migration of Challarams Plc, Living Trust Mortgage Plc, McNichols Plc, and the Initiates Plc from ASeM to Growth Board.

Nigerian Equity Market Brandspurng Stock Recommendations for the Week
Source: NSE, GTI Research

Consequently, the All-Share Index settled at 35,137.99 absolute points, while the Market Capitalization value printed at ₦18.365 trillion compared to last week closing position of 34,886 points and ₦18.228 trillion. This is nominal term translates to a week-on-week gain of ₦137.20 billion in Market Capitalization value.

Nigerian Equity Market Brandspurng Stock Recommendations for the Week1

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The uptrend was impacted by gains recorded in medium and large capitalized stocks, amongst which are; TRIPPLEG (+20.00%), AIRTELAFRI (+19.63%), FTNCOCOA (+16.00%), CUTIX (+11.76%), AIICO (+10.00%), MOBIL (+9.20%), MCNICHOLS (+8.51%), UPL (+6.52%), MAYBAKER (+5.67%), ARDOVA (+5.09%), COURTVILLE (+5.00%), and HONYFLOUR (+4.67%).

Outlook for the week ending December 11th, 2020

We anticipate seeing renewed profit-taking this week as more investor move to realign their portfolios ahead of the new year.

However, we do not rule out pockets of bargain-hunting on some large-cap stock that have seen price depreciation in recent weeks. Overall, we expect the market to close southward.

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Nigerian Equity Market Brandspurng Stock Recommendations for the Week3
BUY: Means the upside potential of the stock over the next 12-months is significantly high when the current price is compared to our fair value. Hence, investors may take positions on these stocks
HOLD: Means the upside potential of the stock over the next 12-months is between 5.1% and 9.9% when the current price is compared to our fair value. Hence, investors may either hold on to the current unit or sell part
SELL: Means the upward potential of the stock, when the current price is compared to our fair value is less than 5%. Hence, investors may choose to exit position on the stock.

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