Stockmarket
In their projections, analysts at United Capital Plc said that they do not expect equities to continue to weaken except the fundamentals move in the unfavourable direction.“On one hand, we do not expect equities to continue to weaken unless fundamentals move in an unfavorable direction. On the other hand, though the market is clearly mispriced on both a fundamental and technical perspective, a near-term recovery in equities would only be spurred by a catalyst,”they said.
Also, analysts at Afrinvest Securities, said: “Despite the overall negative performance, we observed increased buying activity on bellwether stocks, and we expect this trend to be sustained in the coming week as investors seek to take position in attractively priced stocks. However, in the absence of major triggers that could drive positive sentiments, we maintain a bearish near-term outlook.”
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