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Nigerian Stock Market Outlook

Stock Market Outlook -April 19, 2021

Our view of the relative strength of the major indices, last week, painted a picture of complete underperformance. Every major index, last week, was underwater. Not much changed except with the Industrial Index. It (the most consistent performer over the last few months) was, once again, outperforming the all-share index by approximately 2%.

With a market that’s not looking really good at the moment, are there any stocks that still hold any kind of value for long-term investors? Our algorithms think the following stocks (and a few more) could, still, be worth a look.

Last week registered the first time since March 2020 that the trend and breadth were both negative. The market signals have not shown any serious indications of strength that investors can hold on to.

While looking to find something, anything, that could positively affect the performance of the stock market, we were informed that yields on Treasury Bills are now 9%!  I guess I can leave you to make your own interpretation of these combined factors.

Please click on this link to download the dashboard for this week’s outlook, and, till next week, sit out responsibly.

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