Economy
Stock Watch: Recommendations for The Week (August 28)
Last week, the Nigerian bourse closed down for the second consecutive week, as the NSE All Share index pared by 0.74 percent, to settle the YtD return at 36.36 percent.
The volume traded advanced by 10.28 percent while the market turnover of transactions declined by 3.28 percent.
Meristem Research says the bearish mood that dominated the equities space in the past week may linger as investors continue to take profit on stocks still trading at relatively high prices.
However, given the level of price declines that dominated the market, there may be trickles of bargain hunting on some fundamentally justified tickers that are believed to have found new support levels.
In sum, we expect the sell pressures to outweigh the positive sentiments in the week and as such result in a marginal WoW loss.
