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Stock Market Recommendations For Week 41 (05/10/2020 – 09/10/2020)

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Stock Market Recommendations For Week 41 (05/10/2020 – 09/10/2020)

Last week, the Nigerian Stock Market continued its recent stellar performance, as it closed positive in all the four trading sessions, Brandnewsday gathers.

This came as the local bourse gained a total of ₦350.15 billion, culminating in a week-on-week gain of 2.53% in the All-Share Index (which settled at 26,985.77 absolute points), while the Market Capitalization value gained 2.55% w/w to close at ₦14.11 trillion due to the listing of an additional 146,878,241 ordinary shares of Dangote Sugar Plc at 50k each.

Stock Market Recommendations For Week 41 (05/10/2020 – 09/10/2020)

Nigerian Stock Market

The uptrend was impacted by gains recorded in medium and large capitalized stocks, amongst which are; TOTAL (+21.00%), OANDO (+12.81%), STERLNBANK (+12.34%), CHAMPION (+9.88%), IKEJAHOTEL (+9.78%), AIICO (+9.72%), ETERNA (+9.60%), INTERBREW (+8.33%), GUARANTY (+7.41%), UACN (+6.56%), DANGSUGAR (+4.88%), MTNN (+4.84%), and ZENITH (+4.34%).

Outlook for the week ending October 9th 2020

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After two weeks of a bullish trend, we expect to see a seesaw movement in the market performance this week, owing largely to anticipated profit taking by active traders.

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Also, a possible drawback of foreign investors as a result of the renewed pressure on crude oil prices in the international market. Hence, we see the NSE-ASI retreating mildly this week.

GTI WEEKLY STOCK PICKS FOR THE PERIOD 05/10/2020 – 09/10/2020

Stock Market Recommendations For Week 41 (05/10/2020 – 09/10/2020)

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