Stock Watch: Recommendation for this Week (January 15)

By Modupe Gbadeyanka

It is a new week and a start to a new trading session on the floor of the Nigerian Stock Exchange (NSE), which closed last week bullish.

According to analysts at Vetiva Research, despite a sharp reversal in the positive trend last Friday with a drop in the NSE All-Share Index (ASI) by 0.33 percent as a result of profit taking, strong closes earlier on in the week led to a 10.21 percent gain week-on-week.

“Whilst we foresee modest demand at today as investors continue to lock in rates, we expect inflation figure due on Tuesday to dictate market sentiment for the rest of the week.

“We are cautious on the release of the Q1’18 bond calendar but expect lower bond supply in the near term in line with the FG borrowing strategy. Thus, we expect bond yields to continue southwards,” Vetiva Research said in its Breakfast Report released on Monday.

Vetiva Research also released its top recommendations for this week.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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