Profit Taking May Resume, Amidst Month-End Portfolio Balancing, Volatility, Influx Of Q3 Numbers


Market Update for Week Ended January 26 and Outlook for Jan 29-Feb 2

Nigeria’s equity market during the past week closed lower for the first time this year after three straight weeks of up market when it ranked as the world’s best performing bourse, but witnessed a pullback as a result of massive profit taking activities which led to a back-to-back loss for four trading sessions. The week also witnessed a very high intraday volatility to create buying opportunities that supported reversal that halted the free fall of stock prices within the period under consideration on Friday.

The relatively lower prices resulting from the latest market corrections ahead of the earnings reporting season attracted repositioning by smart money, amid reshuffling of portfolios by investors in expectation of Q3 March accounts and full-year earnings reports for December year-end accounts that are around the corner. This led to the renewed “BUY” market on Friday as a result of price adjusting downward, with end of the month around the corner. There is also positive news of higher trade surpluses and higher crude oil prices on the back of a weak US$, in addition to news that Russia and OPEC (Organisation of Petroleum Exporting Countries) cartel plan to extend their production cut cooperation indefinitely on reports that inventories continue to drain.

The mixed sentiments at the close of the week’s trading indicates a gradual easing of selling pressure as stocks with strong fundamentals likely to continue experience reversal after attaining their new support levels, as strong earnings reports will support a new rally in the month of February.

Market correction within the period is already revealing buying opportunities as the fundamental strength of these companies support higher dividend payouts at full-year, knowing that 80% of the factors that influence stock prices (the market and economic fundamentals, which comes in form of liquidity and positive data), are still intact. The remaining 20% comes from company fundamental and earnings performance, both of which would become evident soon to trigger an uptrend, should the earnings be surprising and above expectations or appropriate sanctions if such numbers move in the opposite direction.

The All-Share Index for the period resisted to breakdown the psychological line of 43,000 which was becoming a new support level, such that any breakout may lead to 41,000 basis points. Market technicals were weak and mixed as trading volume was huge and breadth, negative to halt the three-week bull transition.

The NSE’s composite index shed all of 1,319.07 points to close at 43,773.76 points, from an opening figure of 45,092.83 points, representing a 2.93% decline on a huge volume, which was higher than previous week’s. These transactions were driven by activities in financial services and conglomerate sectors. Similarly, market capitalisation for the period closed lower at N15.69tr from the opening value of N16.15tr, representing a 2.87% drop, which was due to the listing of 67.801m shares of Nigerian Breweries on January 24, 2018. This resulted from a scrip dividend scheme offered to eligible shareholders of NB who elected to receive new ordinary shares in lieu of cash dividends with respect to the 258 kobo final dividend declared for the year ended December 31, 2017, bring the company’s total issued and fully paid-up shares now stands at 7,996,902,051 ordinary shares.

The top advancers table for the week was dominated by consumer goods stocks that had earlier suffered losses after breaking out their 52 week-highs on a high volatility, as profit taking slowed down, giving room to reversal on Friday, amidst huge volume likely to support a rally in this new week that brings the month of January to a close.

Mixed sentiments continued in the week under consideration, as market indices were correcting from the new highs as traders and investors booked profit from the recent rally in low, medium and high cap stocks, thereby reducing the NSE ASI’s year-to-date return to 14.46%. Market capitalisation growth for the period stood at N2.02tr, representing a 16.23% gain from the year’s opening value.
Market breadth for the week was negative with the decliners outpacing advancers in the ratio of 44:30 on a huge volume of trades to short-lived three weeks up market

International markets were lower during the past week, as the U.S Q4 GDP was revised sharply lower to 2.6%, as an annualized $652.6bn trade deficit offset strong 3.8% growth in consumer spending. The positive news is that the higher trade deficit was due to a stronger US$, and higher consumer spending could point to higher inflation going forward. President Mario Draghi of the European Central Bank (ECB) indicated that the zone’s economy still needs support to keep increasing inflation toward healthier levels following US Treasury Secretary comments on a weak dollar. In Asia, Japan’s rising consumer spending according to its central bank could translate to a pickup in inflation this year, just as China, expressed disappointment with new U.S trade tariffs.

Back home, the benchmark NSE Index opened the week on a negative note, losing 0.40%, a situation that continued till Thursday, shedding 1.16%, 0.96% and 0.99% respectively, before a reverse on Friday when it recovered 0.56%, bringing the week’s total loss to 2.93% on profit taking and market correction wave.
The NSE index and all sectoral indices closed lower for the period, except for the NSE Consumer Goods and NSE Oil/Gas that closed 2.15% and 0.08% higher respectively, while the NSE AseM remained flat for the week. The NSE Banking suffered the week’s biggest decline, shedding 6.40% in one week

Market activities for the week, in terms of volume and value were mixed as volume was up by 42.91% to 7.16bn shares from the previous week’s 5.01bn units, while value declined by 7.14% to N42.55bn from the previous week’s N45.82bn.
The best performing stocks at the end of week were Wapic Insurance and Dangote Sugar, which gained 10.91% and 9.80% respectively to close at N0.61 and N21.96 per share, due to full-year expectations with high possibilities of dividend payment, while Diamond Bank and Champion Breweries were the worst performing, losing all of 26.05% and 20.69% to close at N2.64 and N2.53 respectively, on the back of profit taking.

Market Outlook
As the new week is also month-end, we expect volatility and profit taking to continue in the midst of actual Q3 numbers hitting the market, even as the March accounts have just three more trading days before they start pay fines for breaching the NSE’s post-listing rules as it relates to timely release of their numbers within the statutory period. Early fillers of December accounts would start rolling in from February.
However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season when dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks pick for 2018 are available now to guide your positioning as trading for the year just started.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

Attention! Attention!! Attention!!!

Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.
Theme: ABC of Technical Analysis for the Novices and Advance Traders
Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.
Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.
At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:
• Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.
• Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop is scheduled as follows:
DATE: February 24. 2018
TIME: 10am – 3.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at the Technical Analysis Chart Conference
1. The 3 Simple trading secrets that can help anyone succeed at investing
2. The tenets of stock trading and investing Using TA
3. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.
4. How to trade on your own online.
5. The psychology of trading and investing and how it will make you successful.

Registration is ongoing
There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in this New Year.
For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/01/profit-taking-may-resume-amidst-month-end-portfolio-balancing-volatility-influx-q3-numbers/

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Do You Want To Risk your Hard earned Investment?


"By failing to plan then you are planning to fail".

Yesterday, I was checking my outstanding goals for this year and I realized that I still have a lot to accomplish.

Sincerely speaking, I didn't achieve much this last year and some of my colleagues that I asked also didn't achieve their goals too year.

How many times have you said to yourself, if only this had happened, or, if only I had done this or that, things would be different?

The fact remains the same ... If you keep doing what you've been doing—you will get what you've always gotten which is why using last year's investment knowledge to make decision and expecting a different result is a DAYLIGHT DREAM

Research has shown that most people spend their whole lives abandoning their dreams and pay attention to Social media, TV, Sport bet, Ponzi Schemes or stuck on a point without making progress toward their goals.

Did you know that only 3% of the world has set goals for themselves?

Here is the 80/20 rule of planning.

This rule says that the first 20% of time that you spend planning your work before you begin will save you as much as 80% of the time in getting the job done once you get started.

This implies that if you can apply the 80/20 rule to your new year's revolution and create time before 15th of February to plan 2018 ahead if you have not, you'll definitely be productive and have great year in 2018.

Happy Trading,
Ambrose Omordion

P.S. I understand that you are very busy, however, kindly find time to follow up on your 2018 investment goals and don't forget that acquiring knowledge in Stock market is also of top priority so that you can make good investment decision this year...

However, indecision is also a decision, and sitting on the fence without taking any action is a dangerous position to be. So without delay, get my comprehensive presentations of the one-day workshop on INVEST 2018 INVESTORS SUMMIT in Home study USB pack

By calling +2348028164085, 08032055467 or send an email to ambroseconsultants@yahoo.com
https://investdataltd..com.ng/2018/01/do-you-want-to-risk-your-hard-earned.html

PRICE RALLY, VOLATILITY MAY LINGER, AMIDST PORTFOLIO RESHUFFLING FOR QUARTERLY, FULL-YEAR REPORTS


Market Update for January 29

Trading for the week on Nigeria’s stock market started off very strong and positive note on Monday to consolidate last Friday uptrend after recording four trading sessions of down in the previous week as a result of profit booking to form a corrective wave that came to an end, ushering in a motive wave 5 extension that may last longer, due to stock price rally on stronger earnings reports. This is however on the condition that the expected numbers really beat expectations.

The composite NSE All-Share index opened the day trading with upside gaps, rallying to remain green from the mid-morning till midday to breakout the psychological line of 44,000 again after it had tested an intraday support level of 43,773.76 successfully. From there, it rallied back in 5-wave extension move, with the index actually tagging its high from late Friday at about 532.72 basis points.
The day’s technicals were strong but mixed, as buying pressure was 100%. Volume index recorded 0.72 of the day’s total transaction, to reflect positive sentiments, despite the decline in volume traded and stronger breadth that closed in favour of the bulls.

The renewed buying market as a result of positive sentiments was revealed by institutional money flow index that turned up after last Friday’s trading session as foreign investors continued to position in the nation’s equities to balance their portfolios based on the frontier MSCI index as emerging markets remain the attraction of foreign fund managers. This is also due to the current low stock valuations in an economy that has recovered from recession and already on the growth path as reflected in the continued positive economic data.

Added to this is the rising price of crude oil at the international markets, which has also further boosted the nation’s external reserve, which recently hit $40.38bn, just as it continues to support the apex bank’s policy sustaining liquidity in the foreign exchange market, as well as helping to stabilize the Naira against other global currencies, boost economic activities needed to propel Nigeria’s GDP growth in 2018. Foreign inflow into the nation’s stock market through official sources hit about $ibn last year, the first time the market is seeing such magnitude since 2013, according to a report by Bloomberg.

Meanwhile, the All-Share index for the day gained 532.72 points to close at 44,306.48 basis points after opening at 43,773.76, representing a growth of 1.22% on a relatively high traded volume that was however lower than Friday ’s. Similarly, market capitalisation improved by N190.96bn to close at N15.88tr, after opening at N15.69tr, which also represented 1.22% value gain in investors’ positions.

The upturn recorded by low, medium and highly capitalized stocks impacted positively on the NSE’s Year-To-Date returns, which rose to 15.85%, just as market capitalisation gain for the period reduced to N2.24tr, representing 17.64% YTD growth.
Just like the benchmark index, all sectorial indices closed green, except for the NSE Consumer Goods indexes which was lower by 0.67%, while the NSE AseM, which once more remained flat. Market breadth remained positive as advancer outnumbered decliners in the ratio of 41:13, continuing the two bull market.

Market activities in volume and value terms for the day were down by 39.32% and 17.50% respectively to 573.55m shares worth N5.88bn from the previous day’s 945.12m units valued at N7.12bn. Transaction volume for the day was considerably boosted by consumer goods stocks, as well as others in the financial services sector, like FCMB, Access Bank, UBA, Honeywell and Zenith Bank, which continue to witness increased trading volumes to top the activity chart as most traded.

Low cap stocks were the best performing for the day, as Diamond Bank and Transcorp led the advancers’ table with 9.85% and 9.76% respectively to close at N2.90 and N2.25 each, on full year expectations and possibility of dividend payout. Dangote Sugar and Redstar Express topped the decliners’ log, losing 4.56% and 4.55% to close at N21 and N5.25 respectively, on profit taking by traders and investors.
The first Q3 scorecard for March year-end account was released on Monday by Redstar Express showing top and bottom-line growth, to produce Earnings Per Share (EPS) of 49 kobo, up from 46 kobo in the previous year.

TODAY OUTLOOK

With the hope of more Q3 numbers on Tuesday, we expect the rally and volatility to continue, while portfolio reshuffling and repositioning for the expected quarterly and full year reports that are underway remain. It is important to note that the candlestick formation at the close of Tuesday’s trading supports an uptrend.
However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08028164085.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

Attention! Attention!! Attention!!!

Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.

Theme: ABC of Technical Analysis for the Novices and Advance Traders
Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.
Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.
At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.

We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:
• Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.
• Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop is scheduled as follows:
DATE: February 24. 2018
TIME: 10am – 3.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at the Technical Analysis Chart Conference
1. The 3 Simple trading secrets that can help anyone succeed at investing
2. The tenets of stock trading and investing Using TA
3. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.
4. How to trade on your own online.
5. The psychology of trading and investing and how it will make you successful.

Registration is ongoing
There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in this New Year.
For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/01/price-rally-volatility-may-linger-amidst-portfolio-reshuffling-quarterly-full-year-reports/

Africa Prudential Unveils PERSONAL REGISTRAR USSD *4018#


As part of efforts to redefine Nigeria’s registrar service delivery landscape, Africa Prudential Plc, on Wednesday in Lagos unveiled a new USSD code, *4018# tagged “Personal Registrar”.
The code enables shareholders perform a lot of tasks, including checking their outstanding dividend, shareholding balance, confirming bank mandate right from their mobile phones from the comfort of their homes, work places or leisure.
Also, by simply dialing *4018#, shareholders can check postal and email addresses from their mobile phones.
Speaking about the product, the company’s Managing Director/Chief Executive, Peter Ashade, assured that the service is available round the clock and works on all kinds of mobile phones and across networks, even without internet data, adding that shareholders only need to dial the code to access the service environment.

The “Personal Registrar,” he continued, was developed in the company’s determination to persistently drive exceptional service experience and is borne out of its culture of excellence and persistent drive to improving investors’ confidence in the market.
“We continuously embark on product development and process improvement to deliver exceptional customer experience to our clients across sectors of the economy, while exciting the Nigerian capital market as a whole,” he said.

Ashade recalled that at the announcement of the company’s change of name from Africa Prudential Registrars Plc to Africa Prudential Plc in 2017, it was emphasized that the name change does not imply its exit from registrar business, but rather to enable it extend service offerings to other sectors of the economy by leveraging technology, one of which is the just launched USSD code *4018#.
Fielding questions from newsmen at the event, also assured that Personal Registrar is about changing lifestyle of shareholders as they do not have to besiege the company’s office for any information which can now be accessed in the comfort of their homes and offices.
The product, he stressed, would further enhance efficiency and confidence in the Nigerian capital market, which is driven by information.
“Investors now have all their information on the go. What that means is that if I have investment, I need not know my registrar.”
Also commenting on the new service, Emmanuel Nnorom, a director, stressed that the development of the product was not just about Africa Prudential, but remains a plus for the entire registrar business in Nigeria and encouraged other players in the market to follow suit in breaking new grounds.

Mrs. Bridget Bayo-Ajayi, Head, Business Development of the company, who also spoke at the event, encouraged shareholders whose mobile numbers have not been duly registered on the company’s database to execute a shareholder data update form to enjoy the service.
“Personal Registrar,” she believes, can be of immense benefit in the ongoing electronic dividend efforts of the Securities & Exchange Commission (SEC).

Representing shareholders at the event, Mrs. Bisi Bakare of Pragmatic Shareholders Association, lauded Africa Prudential for putting shareholders convenience first by launching the first-of-its-kind product in registrars business.
“This innovation has made our job (of repeatedly visiting the registrars office) easier. We hope that other share registrars will subsequently key into this.”

http://investdata.com.ng/2018/01/africa-prudential-unveils-personal-registrar-ussd-4018/#more

Skye, Unity, Wema Banks Chalk Three-Digit Appreciation, Top January Gainers’ List


Penny stocks, especially those in the financial services sector recorded robust growth in their share price as most rode on the back of the prevailing market sentiments rather than being driven by fundamentals as showed through their most recent numbers.
Most of the stocks outperformed the composite NSE All-Share index, which closed 15.95% up amidst recurrent profit taking; better than the 15.63% recorded by the NSE30, or the 12.11% for the NSE Insurance; or the NSE Oil/Gas index’s 10.74%. Also in the month, the NSE Lotus Islamic index garnered 7.64%; NSE Consumer Goods, 5.81%.

The most robust growth for the month came from the NSE Industrial index, which notched 20.6%; followed bythe NSE Premium index, 20.53%; while the NSE50 index gained 16.26%; leaving the NSE ASeM on the decliners’ table for the month, following its 4.81% slide.
Banking stocks occupied the first six spots on the gainers’ table for the month of January, with Skye Bank leading the pack, having recorded the biggest gain, as its share price closed at 147 kobo, from 50 kobo at the end of December, representing a 194% price appreciation, despite the fact that it remains under a Central Bank of Nigeria (CBN) appointed board and management, which is yet to present audited account for the 2016 financial year to investors.

Unity Bank followed with a 186.79% notch for the month; ahead of Wema Bank’s 182.69% climb.
Diamond Bank gained 112%; while investors in FCMB Holding closed the month 106.76% richer; just as those of Sterling Bank recorded 94.44% capital appreciation; ahead of Cement Company of Northern Nigeria’s 86.84%; Caverton, 82.95%; and Jaiz Bank, 69.84% and Transnational Corporation of Nigeria, 59.59%.
FBN Holdings followed with 58.52%; C&I Leasing, 51.16%; Wapic Insurance, 50%; NPF MFB, 48.80%; Fidelity Bank, 48.78%; Livestock Feeds, 46.99%; Eterna, 46.55%; Champion Breweries, 45.19%; and Honeywell Flour, 44.76%.

The big caps were not left out totally, as they found space at the bottom of the table, with Nigerian Breweries grabbing 8.97%; outpaced by Dangote Cement, which chalked 17.39%; and the 20.61% by Guaranty Trust Bank; while Zenith Bank gained 20.9%.
The decliners’ table was led by the trio of Royal Exchange, ABC Transport, and Lasaco Assurance which lost 16% per share, arising from the new pricing methodology of the NSE that removed the previous 50 kobo per value, allowing stocks that were previously unattractive to test new waters. The three stocks closed at 42 kobo.
They were followed by AG Leventis, which shed 14.29%, just like ASL; while Glaxosmithkline lost 12.08%; Meyer, 11.43%; Prestige Assurance and UNIC, 8%; Nestle Nigeria, 5.53%; Cornerstone, 4% as it closed at 48 kobo, below the previous per value; and NAHCo Aviance, 1.76%; among others.

http://investdata.com.ng/2018/01/skye-unity-wema-banks-chalk-three-digit-appreciation-top-january-gainers-list/#more

Feb. Outlook: Expect Portfolio Reshuffling, As Investors Stay With Fundamentals





January market Review and Outlook

The 2017 bull-market on the Nigerian Stock Exchange (NSE) extended to the first month 2018, defying what had come to be known and accepted as the “January effects,” a coinage that resulted from the fact that the month had repeatedly closed in red a investors were believed to besiege the market for funds to settle pressing demands after the December spending spree.

At the close of trading for the month of January 2018, the composite NSE All-Share index record a 15.95% gain, the highest over the past two decade, according to data mined by Investdata Consulting Ltd.

The significant gain is attributable to the renewed local and international investor confidence in the Nigerian market, arising from the undervalued nature and the intrinsic value inherent in most stocks on the bourse. Recall that the NSE had suffered a three-year back-to-back string of losses, before the 2017 rebound, just as the economy also recovered from the 2016 recession after 25 years of economic progression.

This is also without undermining the overall effects of the stability in the economy, which has also been helped by the Central Bank of Nigeria (CBN) intervention in the foreign exchange market with the introduction of the Investors and Exporters’ window at the inter-bank market.


January Market Performance over 2 Decade

The January up-market, arising from the renewed investor confidence in Nigeria catapulted the NSE it to the top of the world’s markets with the help of the CBN’s new policy that ensured relative stability in the exchange rate of the Naira, while in the process boosting the nation’s manufacturing sector, leading also to positive economic data. It also attracted forex inflows from direct and portfolio foreign investors of about $1bn last year. This also resulted in the nation’s improved external reserve which gave foreign investor confidence, supported by the twin advantages of rising crude oil price to the $70 per barrel threshold, just as production output was mostly high, given the peace in Nigeria’s oil-rich Niger-Delta region where modular refineries, with host communities to own substantial stakes are billed to come on stream in the next 12 to 14 months, going by agreements already signed by the Bayelsa and Edo State governments.

Also, the impact of reforms policies such as the Ease of Doing Business, the gradually sliding inflation figure, improvement in Purchasing Managers’ Index (PMI), all of which are reflecting in as economic activities, thereby reflecting on the purchasing power of Nigerians and growth in GDP. Investdata believes, all of these are tips of the iceberg, only if the government is serious about plugging loop-holes inherent in its revenue generation machinery and spending priorities, while curbing waste in government, especially the cost of projects.

Activities in the 22 trading days of January on the NSE were mixed, comprising 14 sessions of up and eight days of down market to close on a positive note at 44,343.65 points after touching the month’s high of 45,321.82 and low of 37,646.88 from an opening figure of 38,243.19.

The buying volume of total transactions for the month was 68% and selling, 32% to continue December’s bullish market, just as market capitalisation for the month gained N2.29tr after closing at N15.9tr, from an opening value of N13.61tr, representing a 16.83% appreciation in value. The market had mixed sentiments in expectations of 2017 earnings reporting season due to most stocks trading above book value and new 52-week high.

Market breadth for the month was positive and strong as the number of advancers outnumbered decliners in the ratio of 79:15 to continue the bullish transition of four months to sustain the December Santa Claus and OPEC supply cut-induced rally.

The month’s biggest advancers were second tier banking stocks, which were grossly undervalued, comparing their Book Value to market price during the period. Low cap stocks dominated the top 10 gainers, with the best performing being- Skye Bank, a bank that has not released its audited or unaudited result for two years to the market, to enable investors ascertain its financial health, gained 194% of its opening price. It was followed by Unity Bank, which gained 186.78%; Wema Bank, 182.69%; and Diamond Bank, 112%. There were a few medium cap stocks like: FCMB, 106.76%; Sterling Bank, 94.44%; and CCNN, 86.84%; among others.

The worst performing for the month were led by Royal Exchange Assurance, which lost 16%; ABC Transport, 16%; LASACO, 16%; AG Leventis, 14.29%; Airservice 14.29% and GSK, 12.08%.

The month’s traded volume was up by 215.16% to 23.7bn shares, from previous month’s 7.52bn.

During the month also, the following companies released their 2017 full year results, Vitafoam and Niemth Phram, while quarterly reports came from Honeywell, Flour Mills, Guinness, Redstar Express and others. Also within the period, NB, International Brewery, Union Bank, Lafarge Africa and UACN listed additional shares as a result of right issue or bonus shares.

Also, some companies have ushered in the earnings season with strong numbers, particularly from those in the consumer goods sector, which has given insight into what the market should expect from December year end accounts. As traders and investors position for earnings season amidst up and down movement in the bull transition, decision on whether to HOLD, BUY or SELL would depend on whether earnings beat market expectations and shareholders are rewarded adequately in the expected full year scorecards.

Also, it is expected that a continued rise in crude oil price will support Nigeria’s budget implementation, given that the government continues to depend mainly on earnings from that product, while so much is yet still expected from the non-oil sector, especially with the administration’s initiative- the Voluntary Assets and Income Declaration Scheme (VAIDS), beside hope that the economic recovery momentum would be sustained.

Considering the effects of these factors, investors who understand the operations of the stock market should take the correction wave opportunity to enter good stocks, especially as over 100 quoted companies with December 31, 2017 financial year-end are due to release their audited report within the 90-day time frame that ends March 31.

It is obvious that investment is against expectation, therefore, when such expectation is not met there is need to cut losses quickly to protect your capital.

As investors, it is expected that you relate the current selling price of stocks on the floor of the exchange with their third quarter filings, looking at their previous full-year Earnings Per Share, as well as the last dividend paid. This comparison will help you project whether the company is likely to pay better dividend or not before buying into the stock. Earnings have always been a factor considered for equity price movements, in addition to corporate actions of these companies, which are expected to attract more market players, dividend investors and possibly foreign bargain hunters to the market.

Outlook for February and March

In the Nigerian stock market, the month of February is for the early filers, which suggests that traders and investors should be in the market before the results start coming in order to benefit from the earnings season momentum and volatility.

That said, expect a cocktail of:

• Oscillating trend of equity prices as a result of profit taking and disappointment in some results. Also the source of funds brought to the market may cause fluctuations from foreign and domestic institutional investor’s trading in the market. The up and down movement will continue to create entry and exit opportunities.

• More audited earnings would be released into the market this period. Earnings from blue chip companies may strengthen market fundamentals, especially from United Capital, Forte Oil, Nigerian Breweries and Nestle

• Investors to reshuffle their portfolios to invest in some fundamentally strong equities with high Dividend Yield and possibility of bonus, ahead of the audited financials’ release. We should expect stock prices to be in the upward direction if numbers beat expectations.

• A more vibrant market as market players position for the last month of the quarter (March) and profit taking, while repositioning for the earnings season. As we expect liquidity to improve with more foreign funds entering, while keeping their eye on the elections timetable released by the Independent National Electoral Commission (INEC).

• Market outlook for the month of February and March are still very dicey but investors should invest wisely, using dates, bids, offers and volume when taking decisions.

• Managing risk and protecting capital at this point is very important. As such you must be able to determine when to buy or sell by watching the stocks and the market, using technical analysis and investdata buy & sell signal.

• Let numbers emanating from companies and release/markdown dates guide you into profitable investment.



Chart Summit! Chart Summit!! Chart Summit!!!



Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.

Theme: ABC of Technical Analysis for the Novices and Advance Traders

Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.

Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.

At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.

We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Chart Summit on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:

• Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.

• Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

• Know what the smart money are doing

• Know what they are buying

• How you should buy what they are buying.



The workshop is scheduled as follows:

DATE: February 24. 2018

TIME: 10am – 3.00pm

VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.



What you will learn at the Technical Analysis Chart Conference

1. The 3 Simple trading secrets that can help anyone succeed at investing

2. The tenets of stock trading and investing Using TA

3. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.

4. How to trade on your own online.

5. The psychology of trading and investing and how it will make you successful.

Registration is ongoing

There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in this New Year.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.


http://investdata.com.ng/2018/02/feb-outlook-expect-portfolio-reshuffling-investors-stay-fundamentals/#more

Delayed: Expect Continued Volatility, Profit Taking, Portfolio Reshuffling Ahead Of Audited Financials


Market Update for February 1

Volatility continued at Thursday’s trading on the Nigeria Stock Exchange, kicking off the month of February on a positive note to reverse the previous day’s down market.
The day started out with gap down at its opening, which lingered through to midday but rallied back to the recent key resistance and formed a Doji candlestick pattern that supports continuation of uptrend on above average traded market volume.
Investdata research reveals that the February has been a bullish month over the past decades, recording 13 years of up-market and seven year of down market as shown in the table above.

We therefore expect a breakout of this resistance level and retesting the market’s highest level or even attaining a lower-low, as wave 5 extension movement is not solid yet, but there is the possibility of stocks riding on best January performance since the 1998s with full year earnings reporting season commencing any moment from now as early filers hit the market with their financials, especially from non-banking and insurance stocks like United capital, FO, NB, Nestle and others.
This will add momentum to the market if the numbers are beyond expectations and investors are rewarded handsomely, because dividend yields are likely to be low due to the relatively high prices of equities at this time.
Market technicals for the first day of the new month were mixed as reflected in the volume and breadth, despite closing higher.
Manufacturing activities in the Nigerian economy appear to have kicked off the year on a positive note as revealed through the Central Bank of Nigeria (CBN) Purchasing Managers’ Index (PMI) for January, which saw a marginal decline, but came higher than expected due to impact of the January effect. The January PMI decreased to 57.3 from 59.3 in December, however remaining above the 50 points threshold for 10th consecutive month to indicate expansion in the manufacturing sector. With the recent removal of 36 item from the 41 items barred from accessing the CBN’s official forex window. While we await reasons for the removal, Investdata believes the action seems too early and needs convincing that the removal is not induced.

Meanwhile, the composite NSE All-Share index gained 116.53 points to close at 44,460.18 basis points after opening at 44,343.65, representing a growth of 0.26% on a high traded volume that was lower than the previous day’s. Similarly, market capitalisation climbed by N58.94bn to close at N15.95tr, after opening at N15.9tr, which also represented 0.37% value gain.
The upturn in the market was due to price appreciation in medium and high cap stocks like Dangote Cement, Unilever, UBN,CCNN, Dangote Flour, UBA, Okomu Oil, Zenith Bank, Seplat and Flour Mills that impacted positively on the NSE’s Year-To-Date returns, which further moved up to 16.25%, just as market capitalisation increased to N2.35tr, representing 17.23% YTD growth.
The benchmark index and other sectorial indices were in the green, except for the NSE Pension, NSE Consumer Goods, NSE Banking and NSE Insurance that fell by 0.66%, 0.41%, 0.15% and 0.91% respectively, while the NSE AseM, remained unchanged. Market breadth was negative as decliners outpaced advancers in the ratio of 35:22, to halt the mid-week down market.

Market activities in volume and value terms for the day were down by 3.27% and 55.67% respectively to 630.58m shares worth N3.44bn from the previous day’s 651.9m units valued at N7.76bn. Transaction volume for the day was considerably boosted by conglomerates and financial services sector stocks like Transcorp, Skye Bank, Diamond Bank, Wapic Insurance and FCMB, which continue to witness increased trading volumes to top the activity chart as most traded.

The day’s best performing stocks were Aiico Insurance and Unilever, which topped the advancers’ table after chalking 8.82% and 5.06% to close at N0.74 and N46.75 respectively, on full-year earnings expectation. LASACO and African Alliance Insurance were the worst performing, shedding 9.52% and 8.33% to close at N0.38 and N0.44 each, on market forces.

http://investdata.com.ng/2018/02/delayed-expect-continued-volatility-profit-taking-portfolio-reshuffling-ahead-audited-financials/#more

Flour Mills Nets N13.27bn 9-Month Profit, Laments Impact Of Apapa Grid-lock


The board of Flour Mills of Nigeria Plc, on Wednesday presented its unaudited 9-month result, showing a double-digit growth in profit, despite the 9.63% rise in sales revenue for the period ended December 31, 2017.
The company explained that the performance, though strong, could have been better if not for “the current business challenges, especially due to Apapa (Lagos) traffic congestion.”

The company’s food business pooled N271.954bn, up from N241.472bn; followed by packaging valued at N17.349bn from N15.216bn; ahead of N13.339bn from agro allied business, down from N20.695bn in the previous nine-month’s.
Sales turnover climbed by N37.565bn to N427.508bn from N389.943bn in the corresponding period of 2016; cost of sales increased to N371.472bn, up by 10.4% from N336.449bn; resulting in gross profits of N56.036bn, up from the previous N53.495bn.

Selling and distribution expenses dropped slightly to N4.037bn from N4.241bn; administrative expenses rose to N13.311bn from N10.234bn; net operating gains stood at N5.507bn, as against the N11.756bn losses; leaving operating profit at N44.194bn from N27.264bn.

Investment income dropped to N465.22m from N726.293m; finance costs jumped to N25.157bn from N17.696bn, representing N7.641bn or 42.16%; while profit before tax stood at N19.502bn from N10.293bn. Profit after tax N13.247bn increased by N5.854bn or 79.19% from N7.4bn, despite the significant N3.362bn or 116.23% increase in tax expense. Earnings Per Share rose to 456 kobo, from 250 kobo each.

http://investdata.com.ng/2018/01/flour-mills-nets-n13-27bn-9-month-profit-laments-impact-apapa-grid-lock/#more

Reps Begin Probe Of Gwarzo’s Suspension As SEC DG




Officials of Nigeria’s Federal Ministry of Finance and Securities & Exchange Commission (SEC) are appearing before the House Committee on Capital Market and Institutions, headed by Tajudeen Yusuf, as it seeks to unravel the allegations and counter-allegations by the Minister of Finance, Kemi Adeosun, and suspended Director-General of the capital market apex regulator- Mounir Gwarzo.
Recall that Gwarzo and two other top officials of SEC were suspended some months ago from office.

While the Finance Ministry based its suspension order on various allegations of abuse of office, which may not be unconnected to his receipt of about N104.8m as severance benefit when he was appointed DG from his previous position of Executive Commissioner, as well as award of contracts to companies in which he and his cronies had interest, the embattled DG blames his problem on the planned forensic audit of integrated energy giant- Oando Plc over sundry infractions.
A source at the commission confirmed the arrival of its officials at the National Assembly complex to Investdata News.

http://investdata.com.ng/2018/01/reps-begin-probe-gwarzos-suspension-sec-dg/#more

New W’Bank Report Shows Rise in Global Wealth, As Inequality Persists




A new report by the World Bank: The Changing Wealth of Nations 2018, says global wealth grew significantly over the past two decades, even while per capita wealth fell or stagnated in more than two dozen countries in various income brackets.
Going beyond traditional measures such as GDP, the report uses wealth to monitor countries’ economic progress and sustainability.

The report tracks the wealth of 141 countries between 1995 and 2014 by aggregating natural capital (such as forests and minerals), human capital (earnings over a person’s lifetime); produced capital (buildings, infrastructure, etc.) and net foreign assets. Human capital was the largest component of wealth overall, while natural capital made up nearly half of wealth in low-income countries, the report found.
Commenting, World Bank Group President Jim Yong Kim, said: “By building and fostering human and natural capital, countries around the world can bolster wealth and grow stronger. The World Bank Group is accelerating its effort to help countries invest more – and more effectively – in their people.

“There cannot be sustained and reliable development if we don’t consider human capital as the largest component of the wealth of nations,” he explained further.

http://investdata.com.ng/2018/01/new-wbank-report-shows-rise-global-wealth-inequality-persists/#more

Rencap Revises Nigeria’s 2018 GDP Growth Forecast To 2.9%





Renaissance Capital (Rencap), a top-ranked investment banking firm founded in Russia and operating several countries across the globe, on Tuesday revised its 2018 GDP growth forecast for Nigeria to 2.9% from the previous 2%, up also from 0.8% in the 2017 estimates.

The report authored by Yvonne Mhango based this optimism on the hope for increased “government spending ahead of the 2019 elections and looser monetary policy to boost growth. We also think the restoration of a positive consumer confidence index, after six years, is indicative of a recovering consumer and implies more balanced growth in 2018, as opposed to the oil driven growth of 2017.
The report “Sub-Saharan Africa in 2018: Brisker growth, monetary easing,” dated January 30, 2018, expects “brisker growth, monetary easing and a start in the rebuilding of savings in Sub-Saharan Africa (SSA),” with the recovery driven by Nigeria.

The country’s recovery in 2017, it said, was largely driven by its oil sector, adding that outside of agriculture, the remaining two-thirds of the economy was sluggish, while the manufacturing’s return to negative growth in 3Q17 highlighted the fragile recovery.
“Over the medium term we expect growth to remain relatively flat. The downside risks to our 2018 growth outlook include a fall in oil production and/or prices, and an increase in political instability in the months preceding the February 2019 election.

“We forecast a bigger C/A surplus of 2.8% of GDP in 2018, vs 2.4% in 2017E, assuming oil production of 1.9mn b/d (of which 1.8mn b/d are exports) and oil prices of $55/bl. The oil price has started off the year on a strong note, averaging $69/bl in the first three weeks of 2018, which means upside risk to our export revenue projection for in 2018, and by implication our C/A (current account) surplus forecast. The downside risks to our forecast include a pick-up in import demand, on the back of stronger growth and electoral-related spending. In addition, the authorities’ removal of the de facto ban on 36 of the 41 affected items, in late January, could also translate into higher demand.
“If the oil price were to average $70/bl in 2018, the CA surplus would increase to 4.3% of GDP, by our estimates (see Figure 12). We assume oil exports of 1.8mn b/d and that, outside of exports, all other constituents of the C/A remain unchanged under various oil prices.

“On the import front, we expect the pick-up in demand to be tempered by a consumer that remains challenged. We think inflation is likely to remain high, which is negative for real wages. We also do not expect a meaningful wage increase from the government, despite the forthcoming February 2019 elections, because it is revenue-constrained. The last time the federal government imposed a significant wage increase was ahead of the 2011 elections, when the oil price was over $100/bl.”
The report recalled a statement by Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) of plans to build up FX reserves to $45bn, on top of the remarkable $12.9bn build-up of FX reserves in 2017 to $38.7bn at 2017.

“We think this means the central bank will not use reserves to defend the naira, if such a move would come at the expense of this strategy. We think there is a risk that the naira could turn out stronger than our YE18 forecast, particularly if the $70/bl oil price proves to be durable.

“We expect inflation to slow to c. 11% at YE18, vs 15.4% YoY at Year-end 2017, mainly on the back of a more stable naira, softer food inflation and base effects. The slowdown in YoY inflation in 2017, from 19% at YE16, was largely due to a fall in non-food inflation to 11% at YE17, vs 20% a year earlier. Strong food inflationary pressure was sustained in 2017 by floods, strikes and insurgencies in various parts of the country. We find it encouraging that YoY food inflation slowed in December to 19.4%, from 20.3% in the previous month, after climbing for most of 2017. We expect base effects to support a further softening in inflation in 2018. The upside risks to our lower inflation outlook include expansionary fiscal policy, fuel price pressures and disruptions to food production.”

http://investdata.com.ng/2018/01/rencap-revises-nigerias-gdp-growth-forecast-2-9/#more

Nigeria’s Stock Market Index May Soar Higher On Full-Year, Q3 Numbers


Market Update for Week Ended February 2 and Outlook for Feb 5-9

Nigeria’s equity market over the past week closed higher on impressive Q3 numbers from companies in the consumer goods sector, besides the 57.3 points January Purchasing Managers’ Index (PMI) report, making 10 months of positive data.
Last week’s gain halted the previous week’s down market, the first in 2018, resulting from a massive profit taking and panic selling.
The increased buying pressure and demand for stocks in the period under review, which ushered in the second month of the year is likely to continue in the uptrend direction, if history repeats itself as full year earnings season earnestly kicks off with early filers this month. The Q3 numbers for March accounts released last week has given insights into what should be expected from companies in that sector with December year end fiscal account.
International stock markets around the world were lower over the past week, especially the U.S markets that entered into correction wave that had been long expected as its Q4 GDP data was revised to negative. Also, impact of the tax reform is likely to fuel inflation in the midst of already high valuations in its equity market. Emerging and Fortier markets have become the toast of Hedge funds and other foreign funds as most of the equities in these markets remain relatively undervalue due to early impact of low oil price.

NSEASI Weekly Time Frame


A broad-based uptrend lifted equities at all, capitalisation classes in January, providing a healthy market rally that kicked off February on a positive note as smart money position for expected full year financials that fuel the increasing demand for stocks. There is the possibility of the index zooming past the 45,000 psychological line and continuing to build strength on expected stronger Q4 through the first quarter. Stocks are likely to benefit from this highly supportive environment, breaking out new 52 week high. Careful stock picking will be required at different sectors despite the seeming favorable market conditions during the earnings reporting season.

NSE Banking Index


NSE Banking index over the past week moved higher by 2.11% after pulling back from its five-year high to remain within the bullish channel. A breakout of the upper line of the rising channel will confirm a new trend. The possibility of correction is high before the earnings season but with the increasing buying of new position. The second tier banking stocks for the period had significant rally over the first tier banks due to low price attraction.

NSE Insurance Index


NSE Insurance Index gained 1.35% over the past week to retrace up from the recent pullback that was attributed to profit booking that had created opportunity for new entrance ahead of full year earnings season. This sector’s index had been trending down for over four year before the breakout in Apirl 2017.

NSE Consumer Goods Index


NSE Consumer Goods Index moved lower by 3.33 percent over the past week to create buy opportunity as recently released Q3 numbers from the sector revealed value and strength as the index is trading above 50 Day moving average.

NSE Industrial Goods Index


NSE Industrial goods Index moved up by 5.32 percent over the past week to outperform the market and breakout the resistance level of 2401 to usher in new uptrend rally as revealed by the above chart.

NSE Oil/Gas Index


NSE Oil/Gas index over the past week shed 0.7% to continued its sideways movement.

http://investdata.com.ng/2018/02/nigerias-stock-market-index-may-soar-higher-full-year-q3-numbers/

Volatility, Profit Taking, As Investors Reposition In Value Stocks Ahead Full-Year, Q3 Numbers


Market Update for February 5



Nigeria’s stock market on Monday had another volatile trading session to kick start the first full week of February negative.

The session started out with a little gap down at the opening, and pulled back to recent key support, forming a hanging man candlestick pattern that signaled reversal but on a low volume after the previous day’s up market, on a declining volume to indicate a weak rally.

As things are now, Investdata urges everyone- investors and traders to keenly observe Tuesday’s session to confirm direction before going short, especially against the backdrop of the correction mode of international stock markets that was long expected due to over valuation and weak earnings. This, we recall, had made many international fund managers increase their positions in emerging and frontier markets like Nigeria’s.



U.S. stocks took a deep plunge, the most in 6 1/2 years, with the Dow Jones Industrial Average shedding over 1,100 points, amidst fever pitch sell-offs over rising concern that inflation will force interest rates higher, just as the S&P 500 Index sank 4.1%, enough to wipe out its entire gains for January.

Investdata believes the ongoing correction or pullback in the Nigerian market may not last if the expected earnings reporting season beats expectation, regardless of relatively high prices of some equities now trading above their Book Values.



The mixed sentiments at the end of Monday’s trading may lead to a retest of the new 44,684.38 resistance level, or even to lower-lows, which is what the chart above reveals. If this short-lived Wave 5 extension and decline ensues, it will take the composite NSE All-Share index to the 41,000 or 42,000 mark, down from this session’s highs. Only the expected numbers and positive information from the fiscal (government), it economic managers and the monetary authorities (Central Bank of Nigeria) may bring about a quick rebound.

Market technicals for the first day of the week were negative and weak as reflected in the volume and breadth to close the day.



The effects of strong oil prices in the international markets and impressive numbers from manufacturing companies arising from the improvement in dispensable income in the country, among others have indeed helped the country’s oil and non-oil sectors, which received the highest share of bank credits in 2017Q4, according to data released by the National Bureau of Statistics (NBS)(READ). Although, one cannot under-estimate the effects of the CBN’s sustained intervention through the Investors and Exporters’ window of the foreign exchange inter-bank market since it opened in April 2017, helping to resolve bottle-necks around their ability to source the much needed raw-materials from abroad.



Meanwhile, the All-Share index shed 378.27 points to close at 44,261.72 basis points after opening at 44,639.99, representing a decline of 0.85% on a low traded volume that was lower than the previous day’s. Similarly, market capitalisation dropped by N135.75bn to close at N15.88tr, after opening at N16.02tr, which also represented 0.85% value depreciation.



The downturn in the market was due to value loss in medium and high cap stocks like Dangote Cement, Lafarge Africa, UBA, Forte Oil, Dangote Flour, FBNH, Access Bank and Julius Berger, which impacted negatively on the NSE’s Year-To-Date returns that fell to 15.74%, just as market capitalisation gain for the period reduced to N2.02tr, representing 16.95% YTD growth.

The general market performance index and other sectorial indexes closed south, except for the NSE Insurance that inched higher, while the NSE AseM remained flat.

Market breadth was negative as decliners outnumbered advancers in the ratio of 34:22, to halt the two-day up market.



Market activities in volume and value terms for the day were down by 20.25% and 23.27% respectively to 426.87m shares worth N2.77bn, from previous day’s 535.26m units valued at N3.61bn.

Transaction volume for the day was considerably boosted by conglomerates and financial services sector stocks like FCMB, Skye Bank, Diamond Bank, Transcorp and Aiico Insurance, which witness increased trading to top the activity chart as most traded.

The day’s best performing stocks were Aiico Insurance and Prestige Assurance, which topped the advancers’ table after gaining 10.00% and 8.33% to close at N0.88 and N0.52 respectively, on market forces. Unic Insurance and Consolidated Hallmark Insurance were the worst performing, shedding 8.70% and 8.33% to close at N0.42 and N0.44 each, on market forces.



TODAY OUTLOOK



Expect volatility, profit taking and portfolio reshuffling/repositioning to continue ahead of full year audited reports that will be in the market very soon, as revealed by the hanging man candlestick formation pattern as market close yesterday. But stay with value stocks as today trading confirm direction.


However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08028164085.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.

Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

http://investdata.com.ng/2018/02/volatility-profit-taking-investors-reposition-value-stocks-ahead-full-year-q3-numbers/

Public Finance: Adeosun Tasks Treasury Managers on Accountability, Transparency


The Minister of Finance, Mrs. Kemi Adeosun, has challenged Treasury managers to ensure transparency and accountability in the management and control of the country’s public finance.

Speaking at the second National Treasury Workshop in Tinapa, Cross River State, attended by Directors of Finance and Accounts in all Federal and State Governments’ Ministries, Departments and Agencies, Heads of Finance and Directors of Internal Audit and other stakeholders in national public finance management, the Minster called for a change in the mindset of Treasury managers to reform the basic polity.
Adeosun, who was represented by the Director of Special Projects in the Federal Ministry of Finance, Dr. Mohammed K. Dikwa, said “the basic and fundamental approach to financial and economic reforms is to reform the basic polity. Reforms must be impacting and sustainable and should fit into the cultural ethos of Nigeria, among others.

“There is the need to evolve a culture which is value-based. It is expected that this workshop would draw from universal public values such as public trust, accountability, equity, transparency, ethical standard and selflessness.”
She called for a review of the Finance Control and Management Act of 1958, which she confessed, was outdated and weak in instituting greater accountability and transparency in the conduct of government financial businesses

The Finance Control and Management Act provides detailed guidelines on control and management of the public finance of the country.
The Minister tasked the nation’s treasury managers to critically examine the Finance Control and Management Act and other related financial issues with a view to addressing some of the inherent deficiencies in the provisions.
The Economic Recovery and Growth Plan (ERGP), she explained, was conceived by the President Muhammadu Buhari Administration to lay a solid foundation for long-term economic growth.

She added that the emphasis of the ERGP was on local content business empowerment.
“The ERGP has been further designed to build competitive market, invest in infrastructure and human resources as well as harmonize monetary, trade and fiscal policies for the purposes of boosting non-oil revenue, reduction in cost of governance, privatization of selected public enterprises/assets, delivery on agriculture and transportation, among others,” the Minister stated.
Adeosun recalled that the Federal Government through the Federal Ministry of Finance had embarked upon a number of financial reforms with a review to strengthening governance, accountability, reduce corruption and deliver service more effectively.

She listed some of the initiatives introduced by the Government to include: full implementation of the Treasury Single Account (TSA), Presidential Initiative on Continuous Audit (PICA), Revenue Boosting Initiatives, Fiscal Sustainability Plan, Voluntary Assets and Income Declaration Scheme (VAIDS), Whistle blower Policy, Cash Management, Efficiency Unit, Healthpay Project, Family Homes Project, Asset Tracing Team, and Road Trust Fund, among others.

Speaking earlier at the workshop, Accountant-General of the Federation, Alhaji Ahmed Idris, urged public financial managers to fashion innovative ideas that would address some of the challenges facing the Treasury and economy.
Idris said, “I will advise our public financial managers to see the current challenges facing the treasury and the economy as an opportunity to spur them to form a united front that will generate great ideas resulting in the provision of lasting solutions to the problems.”

http://investdata.com.ng/2018/02/public-finance-adeosun-tasks-treasury-managers-accountability-transparency/#more

I’m Leaving Behind A Formidable, Profitable AFC, Says Andrew Alli





After almost 10 years of pioneering the Africa Finance Corporation (AFC) dream of enhancing economic development of nations on the continent, Andrew Alli, its President and Chief Executive Officer, is billed to bow out this year.

In his final new year message on Friday, he said that over the years, the corporation, established by the then Prof. Chukwuma Soludo Central Bank of Nigeria (CBN) in 2007, with current a balance sheet size of about US$3.5bn, “has evolved from a start-up to an institution that is a powerful force on the continent; it currently has a membership of 17 countries, an A3 Credit Rating by Moody’s (the second highest rated African lending institution), and has grown from about US$1bn in total assets to about US$4bn, while investing in various capacities in the landmark African projects.



These include: “the US$240m MainOne Cable Company which provides innovative telecommunications services, network solutions and wholesale internet services for people and businesses in West Africa. Main One provides direct connectivity to over 10m users, with several more millions benefitting indirectly; (as well as) the 1,786MW power joint venture with Harith General Partners called Anergi Holdings, which provides electricity to 30m people across five countries in Africa.”



In each of the 10 years, he said the corporation successfully in delivered a profit, “despite the backdrop of the global financial crisis, slow-growth, and the crash of commodity prices that affected many African economies.”

AFC’s activities over these years, he continued, “reflect a strategic and passionate desire to meet the desperate need for a private sector led infrastructure financing institution in the world’s second largest continent, for all its people.”



Looking back at the challenges faced by the corporation over the last decade, he particularly noted the high scale of African demand for financing infrastructure investment and maintenance, describing it as worrisome, given that “traditional sources of public financing and weakened economic conditions in many regions of the world have magnified the need for private capital.”

The AFC, he recalled, was established to meet this resource imbalance by investing in infrastructure assets on a pan-African basis, a task he believes has been achieved “through stable leadership and consistent delivery, as well as a continued commitment to the Corporation’s core mission: to address Africa’s infrastructure needs, whilst delivering a competitive return for shareholders.



“What I find most encouraging as I contemplate AFC’s future after my departure, is how the transformational impact that AFC has delivered so far in developing African infrastructure remains dwarfed by the scale of the tremendous opportunities across the continent,” he said, expressing confidence confidence that the corporation is ready to seize these opportunities.



“Simply put, the core of my time as President and CEO of the Corporation has been a relentless emphasis on sustainable development, people and innovation, both within AFC as well as in the communities in which we have invested. To this end, AFC has spent the last decade focusing on projects in areas that otherwise would be, and have been in the past, overlooked by traditional investors.



“Looking back at AFC’s achievements in the last decade, what I am most proud of are the successes of the Corporation that aren’t just informed by the returns made, or indeed the size of our investments, but the direct impact they have had on people.”

The institution, he noted, has become highly respected both within Africa and outside, with its many achievements made possible by its “strong, effective and motivated team, fully committed to the Corporation’s mission.”



At the heart of AFC’s mandate for development, he continued, “is knowing that the people of Africa will benefit. Be it access to electricity through the Anergi Holdings energy platform, or improved transport accessibility via the Henri Konan Bédié Bridge in Côte d’Ivoire.

“AFC also seeks to drive Corporate Social Responsibility (CSR) initiatives that deliver immediate and beneficial results to communities across Africa. We were therefore thrilled to announce in 2017, the Clean Water Campaign which aims to increase access to clean water and improve health and sanitation in communities across Africa, in particular schools and orphanages, and I am extremely proud of the AFC team for their efforts, from conception to delivery.”



He expressed confidence that adequate human capital has been developed to drive the corporation in the next phase, as “the business is in a formidable position for further growth and expansion. We were very pleased to have welcomed the three new country members over the course of the year, and as we continue to seek out and execute the most promising projects across the continent, and ambitious capital raises across the globe, the Corporation remains in exceptionally capable hands. The success of AFC is built upon the dedication and expertise of its staff and our team is in every dimension our strongest asset. I wish my successor well and leave proud in the secure knowledge that he has a world class team supporting him through his work at AFC.”



Investdata News notes that the corporation has already began the process of shopping for “African candidates” as Mr. Alli’s replacement. It has retained the services of global executive search advisor Egon Zehnder to assist in this search.



http://investdata.com.ng/2018/02/im-leaving-behind-formidable-profitable-afc-says-andrew-alli/#more

Oil/Gas, Manufacturing Sectors Got Lion’s Share Of N15.74tr Bank Credits In 2017Q4- NBS

• As ATM Tops N29.44tr Transactions

A new report by the National Bureau of Statistics (NBS) shows that Nigerian banks allocated the bulk of their N15.74tr total credit between the months of October and December 2017 to oil and gas, as well as manufacturing companies.

According to the report: “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength,” for Q4, 2017 released on Monday, oil and gas players received N3.58tr, or 22.72% of total allocation; while manufacturing got N2.17tr, or 13.79%.

Government was allocated N1.391tr or 8.84% of total; finance, insurance and capital markets, N1.125tr, or 7.15%; trade and general commerce, N1.023tr or 6.5%; real estate, N753.649bn or 4.79%; agriculture received N528.243bn or 3.36% of total credit for the period; coming behind the N657.081bn or 4.17% that went to construction (services). The N774.365bn or 4.92% that went into information and communication was much more than power and energy’s N301.101bn or 1.91%; education was among the lowest sectoral allocations at N72.532bn or 0.46% of total credit;

Nigerian banks, according to the NBS data also reported a total of 461,980,541 electronic transactions worth N29.44tr between October and December 2017.

A breakdown showed that Automated Tell Machine (ATM) transactions continued to dominate, accounting for 239,692,229 transactions worth N1.833tr or 6.22%, with November recording the highest in terms of volume and value, followed by December. A total of 87,928,334 ATM transactions occurred in November, worth N670.98bn; followed by 79,622,990 valued at N629.56bn in December; while October had 72,140,905 transactions in October amounting to N532.01bn.

This was followed by 47,535,262 Point of Sales (PoS) transactions for the period worth N435bn, with the 17,057,465 purchases in December accounting for N167.58bn; followed by 15,425,224 transactions valued at N145.18bn in the prior month; and 15,052,573 trades worth N132.39bn in the month of October.

The period also so 12,272,667 transactions worth N307bn on mobile payment platforms, boosted by the 4,508,860 units in December amounting to N122.66bn; followed by 3,825,970 transactions in November for N95.89bn; just as 3,937,837 trades were settled in October worth N88.27bn.

Nigerians, according to the report are gradually catching up with paying bills electronically, as 190,876 bills worth N130bn were settled through this means in preferring for cash in 2017Q4; led by the N53.84bn worth of 63,098 transactions settled in October; followed by 68,869 transactions in November worth N39.7bn; and 58,909 transactions valued at N36.48bn in December.

A further breakdown shows that a total of 461,980,541 transactions worth N29.439tr were settled across the various payment platforms, led by 11,478,033 transactions worth N3.647tr settled through Remita.

December was the busiest with 162,313,805 transactions worth N10.535tr; November had 159,486,988 valued at N9.762tr; while N9.141tr came from the 140,179,748 deals in October.

On the Remita Platform, 4,683,456 transactions in December were worth N1.584tr; followed by 3,602,892 worth N1.059tr in November; and 3,191,685 valued at N1.002tr in October.

The NAPS platform captured 4,314,370 transactions valued at N1.888tr in the period under review; led by 2,067,249 transactions worth N716.65bn in December; which was followed by November’s N632.86bn from 1,098,577 transactions; and N538.51bn from 1,148,544 deals at the beginning of the quarter.

Also, total number of banks’ staff rose by 9.19% to 90,453 from 82,840.

http://investdata.com.ng/2018/02/oil-gas-manufacturing-got-lions-share-n15-74tr-bank-credit-2017q4-nbs/#more

Do You Really Need To Know Technical Analysis?

Just of recent, I received phone calls from few persons regarding technical analysis. However, I understand that they don't know much about it because neither have they attended my seminar nor bought any of my previous materials but that is still fine because I will be having a Seminar on the *24th of February on Technical Analysis for Amateurs and Professionals.*

Now back to our conversation, after the phone call, I will never assume anything again which why I want to discuss the advantages of learning and practicing technical analysis.

Technical analysis is the study of price charts and basically any information that can be compiled from them, such as volume analysis, cycles, trends and statistics. Technical analysis is used to forecast price movements, as well as provide methods of entry and exits from trades. If you are new to trading, here are some of the advantages of technical analysis.

*1. Provides All Current Information.*

*2. It helps determine price moves in trends* That is, technical analysis is used to isolate trending and non-trending periods.

*3. Repetition:* Technical analysis is largely based on uncovering common patterns, finding those patterns again and using them to trade. This doesn’t mean that history repeats exactly though.

*4.Timing and Precision:* A major advantage of technical analysis is that it provides you with ways to “time” your trades.

There more advantages that will directly affect your portfolio which cannot be discussed here so you can reach me on by sending an email to ambroseconsultants@yahoo.com for more useful information and clarification.

Happy Trading,
Ambrose Omordion
www.investdataonline.com

Panic Wanes, Hope Rises, As Nigeria’s Equity Market Await Full-Year, Q3 Financials





Market Update for February 7



At the end of midweek’s trading session, Nigeria’s stock market had a volatile, but mixed session to close south in continuation of its three consecutive days of correction, a signal that reversal is imminent, after the benchmark index gapped in the upside at the early trading hours to intraday highs of 43,921.17 and lows of 43,534.71 points. The market’s mid-morning rally resulted from bargain hunters trying to take advantage of low prices to position. Price depreciation recorded by Dangote Cement and Nigerian Breweries, the NSE’s two biggest stocks by market capitalization by the afternoon session finally pushed the market downward on low volume and negative breadth.



With the ongoing market shakeout gradually coming to end ahead of the earnings reporting season, investors should focus on companies with juicy profit margins and strong balance sheets that will rebound powerfully after their dislocation from this correction wave. The sell down has so far been driven by panic arising from the correction wave sweeping across the international markets that was extended to Nigeria after foreign investors had earlier taken position in expectation of Q4 numbers.

As investors expect early filers to hit the market with their full year earnings reports in the comings days and weeks, first tier banks are likely to pay good dividend, but because of their current market prices yields it may not be too attractive.



That notwithstanding however, expect dividend growth with higher payout ratio, while most of their second tier peers would equally pay dividend but on low payout ratio, arising from their high non-performing loan, which has hit the double-digit range. This arises from the fact that their primary regulator- Central Bank of Nigeria (CBN) will not allow then because they have to make provision for such Non-Performing Loans (NPL) before any dividend is paid. As more companies continuing to announce closed periods, investors are eagerly awaiting dividend declaration to smile to the bank after January capital appreciation gains.



The Nigerian stock market broke down its 20-Day moving average on Wednesday heading to the 50 DMA on a strong selling pressure of 99% and buying position of 1% of the day total transaction, with volume index of 0.59 with money flow index of 69.88 point looking down.



Meanwhile, the composite NSEASI index shed 384.42 points to close at 43,538.16 basis points after opening at 43,877.30, representing a decline of 0.77% on average market traded volume that was lower than the previous day’s. Similarly, market capitalisation dropped by N121.7bn to close at N15.62tr after opening at N15.75tr which also represented 0.77% value loss in investors position.

Laggards included medium and high cap stocks like Stanbic IBTC, Double 11, Julius Berger, Flour Mills, Dangote Flour, FBNH, Access Bank, Julius Berger, International Brewery and Total Nigeria, all of which impacted negatively on the NSE’s Year-To-Date returns, reducing it to 13.85%, just as market capitalisation gain for the period reduced to N2.01tr, representing a 14.80% YTD growth.

The All Share index and all other sectorial indexes closed lower, except for NSE Banking, which closed higher, while NSE AseM that remained unchanged.

The number of decliners outnumbered advancers in the ratio of 40:18, to continue the three-day bear run.



Market activities in volume and value terms for the day were down by 29.12% and 6.91% respectively to 508.3m shares worth N4.57bn, from previous day’s 717.15m units valued at N4.91bn.

Transaction volume for the day was considerably boosted by consumer goods and financial services stocks like LASACO, FBNH, Skye Bank, Access Bank and Dangote Sugar which witness increased trading to top the activity chart as most traded.



The best performing stock for the day were Caverton and Linkage Assurance which notched 9.71% and 6.78% to close at N0.56and N2.78 respectively, on market forces. Unic Insurance and Skye Bank were the worst performing, losing 9.52% and 8.94% to close at N0.38 and N1.12 each, on market forces and profit taking.



TODAY OUTLOOK



As the market is preparing to rebound, expect volatility and portfolio reshuffling/repositioning to continue, while selling pressure reduces ahead of full year audited reports that will be in the market very soon, going by the hanging man candlestick formation pattern as market close yesterday. But stay with value stocks as today trading confirm direction.

However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.



It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08028164085.



Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.



Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.



Chart Summit! Chart Summit!! Chart Summit!!!



Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.

Theme: ABC of Technical Analysis for the Novices and Advance Traders



Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.



Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.



At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.



We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.



Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:

• Understanding the momentum behind current equity movement and when to exit using SIMPLE

Technical Indicators and Tools to avoid losing capital and profit.

• Our team of experts and time-tested resource persons will show you how you too can

successfully and confidently trade and invest in stocks profitably on your own from your phone,

laptop and/or desktop computer.

• Know what the smart money are doing

• Know what they are buying

• How you should buy what they are buying.



The workshop is scheduled as follows:

DATE: February 24. 2018

TIME: 10am – 3.00pm

VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.



This chart summit is designed specifically for those who:

• Jump out of profit position in fear of giving profits back?

• Indecision in pulling the trigger because you fear the prospects of a loss?

• Holding on to losing positions because you fear taking the loss?

• Trading often leads into unplanned trades because you fear leaving money on the table?

• Small trade size or investing small amount because you’ve just had a large loss?

• Increasing you position size to try and make up for past losses?



This practical workshop is for novice traders, investors, professionals and fund managers who want to overcome fear and improve their trading performance. The workshop is basically on technical analysis and practical charting teaching on evidence-based techniques that is working in today market. Also the power of focused trading and investing strategies that will help participants build mental skills to turn fear into profits and protect capital.



Registration is ongoing

There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in 2018. Also come with your laptop.



For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.



Ambrose Omordion

CRO|Investdata Consulting Ltd

info@investdataonline.com

info@investdata.com.ng

ambrose.o@investdataonline.com

ambroseconsultants@yahoo.com

Tel: 08028164085, 08032055467

http://investdata.com.ng/2018/02/panic-wanes-hope-rises-nigerias-equity-market-await-full-year-q3-financials/

ABC of Technical Analysis for Equity Market Novices and Advance Traders


Chart Summit! Chart Summit!! Chart Summit!!!

Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.

Theme: ABC of Technical Analysis for the Novices and Advance Traders

Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.
Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.
At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:
• Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.
• Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.
• Know what the smart money are doing
• Know what they are buying
• How you should buy what they are buying.

The workshop is scheduled as follows:
DATE: February 24. 2018
TIME: 10am – 3.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.
This chart summit is designed specifically for those who:
• Jump out of profit position in fear of giving profits back?
• Indecision in pulling the trigger because you fear the prospects of a loss?
• Holding on to losing positions because you fear taking the loss?
• Trading often leads into unplanned trades because you fear leaving money on the table?
• Small trade size or investing small amount because you’ve just had a large loss?
• Increasing you position size to try and make up for past losses?

This practical workshop is for novice traders, investors, professionals and fund managers who want to overcome fear and improve their trading performance. The workshop is basically on technical analysis and practical charting teaching on evidence-based techniques that is working in today market. Also the power of focused trading and investing strategies that will help participants build mental skills to turn fear into profits and protect capital.

Registration is ongoing
There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in 2018. Also come with your laptop.
For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/02/abc-technical-analysis-equity-market-novices-advance-traders/

Low Stock Prices Offer Opportunities, As Selling Pressure Subsides Ahead Earnings Season


Market Update for February 8

It was yet another bearish Thursday on the floor of the Nigerian Stock Exchange as the indicators plunged from the very beginning.
First, it extended the corrective wave for the fourth consecutive days of decline, and by midday the composite index rallied to intraday highs of 43,616.14 which was the day’s resistance from its low 43,261.66 point to reflect high volatility as the ongoing shakeout or correction momentum continues to subside, indicating that reversal is imminent, despite the mixed technicals at the end of the Thursday’s trading session as revealed by the huge volume traded and declining negative market breadth.

The economic recovery and transformation that had supported the inflow of funds into the economy and stock market are still intact as international investment banks continue to grow their presence in emerging markets, with Africa and Middle East remaining their focus. This is especially as bond sales, M&As and trading activities continue to attract attention in Nigeria, Egypt and the United Arab Emirates, spurring investment banking revenues among the banks.

Going by the World Bank’s projection for 2018, Middle East and North African regions are likely to witness a 3% growth rate, based on the expectation that improved oil prices, despite the recent oscillation and hope that improved economic reforms would make the region an attractive destination for fund managers, private banks, hedge funds and investment banks.
Notably, Nigeria is undergoing a turnaround from traditional IPOs, public offers to Right Issues, placements and bonds, which guarantees strong investment banking performance and offers opportunities for upcoming merchant banks in the country.

The positive economic data continues to confirm and reflect the impact of the sustained intervention by the Central Bank of Nigeria (CBN) in the foreign exchange segment of the inter-bank market, given the economy’s import dependence. There is a growing agitation among analysts that the CBN may cut rate before the end of first half of the year, a situation that may become even more compelling, if the nation’s inflation rate continue its downward movement in the January data expected to be released on Wednesday, February 14.

At the end trading on Thursday, the market formed a double bottom that signals reversal or breakdown of the 2014 resistance level, following which market forces would decide today’s direction, against the backdrop of its 20-Day moving average heading to the 50 DMA on a strong selling pressure of 82% and buying position of 18% of total transaction, with volume index of 2.42 with money flow index of 56.37 point looking down.

The All-Share Index shed 211.27 points to close at 43,326.89 basis points after opening at 43,538.16, representing a decline of 0.49% on a huge traded volume that was higher than the previous day’s. Similarly, market capitalisation went down by N75.82bn to close at N15.55tr after opening at N15.62tr which also represented a 0.49% depreciation in investors’ portfolios worth.

The downturn recorded was due to losses by Nestle Nigeria, Stanbic IBTC, Nigerian Breweries, Dangote Sugar, FBNH, Access Bank and UBN, all of which further dragged the NSE’s Year-To-Date returns to 13.29%, just as market capitalisation gain for the period reduced to N1.94tr, representing a 14.24% YTD growth.

The benchmark index and all other sectorial indexes closed in red, except for the NSE Industrial and NSE Oil/Gas, which were green, while NSE AseM that remained flat. Market breadth for the day remained negative number of decliners outweigh advancers in the ratio of 26:17, to continue its four days pullback.
Market activities in volume and value terms were up by 336.94% and 63.98% respectively at 2.22bn shares worth N7.59bn, from previous day’s 508.3m units valued at N4.57bn.

Transaction volume for the day was considerably boosted by financial services stocks like Sterling Bank, Skye Bank, UBA, JaizBank, and FCMB, which witness increased trading to top the activity chart as most traded.
Unity Bank and Forte Oil topped the advancers table with gain of 9.17% and 4.90% to close at N1.75and N48.20 respectively, on market forces and full year earnings expectations, while Skye Bank and Consolidated Hallmark Insurance led the decliners by side, losing 8.93% and 5.26% to close at N1.02 and N0.36 each, on profit booking and market forces.

TODAY OUTLOOK

Being the last trading day of the week, prices are low to attract positioning that support high possibility of rebound today but expect volatility and portfolio reshuffling/repositioning to continue, while selling pressure reduces ahead of full year audited reports that will be in the market very soon, going by the hanging man candlestick formation pattern as market close yesterday. But stay with value stocks as today trading confirm direction.
However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08028164085.
Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

Chart Summit! Chart Summit!! Chart Summit!!!

Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.

Theme: ABC of Technical Analysis for the Novices and Advance Traders
Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.
Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.
At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:
• Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.
• Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.
• Know what the smart money are doing
• Know what they are buying
• How you should buy what they are buying.

The workshop is scheduled as follows:
DATE: February 24. 2018
TIME: 10am – 3.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

This chart summit is designed specifically for those who:
• Jump out of profit position in fear of giving profits back?
• Indecision in pulling the trigger because you fear the prospects of a loss?
• Holding on to losing positions because you fear taking the loss?
• Trading often leads into unplanned trades because you fear leaving money on the table?
• Small trade size or investing small amount because you’ve just had a large loss?
• Increasing you position size to try and make up for past losses?

This practical workshop is for novice traders, investors, professionals and fund managers who want to overcome fear and improve their trading performance. The workshop is basically on technical analysis and practical charting teaching on evidence-based techniques that is working in today market. Also the power of focused trading and investing strategies that will help participants build mental skills to turn fear into profits and protect capital.

Registration is ongoing
There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in 2018. Also come with your laptop.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467

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http://investdata.com.ng/2018/02/low-stock-prices-offer-opportunities-selling-pressure-subsides-ahead-earnings-season/

FG Records N247.44bn Deficit In Q42017, Says CBN Report


The Central Bank of Nigeria (CBN), on Thursday released its Economic Report for the fourth quarter ended December 31, 2017, highlight of which included that the federally government continues to experience a shortfall between budget projection and actual receipt, even as its expenditure side never seem to drop.

According to the report, the Federal Government recorded an estimated deficit of N247.44bn in the period under review, which was however lower, when compared with the N589.19bn in the preceding quarter.
This followed a N2.04tr total revenue collected, representing, 24% down from N2.684tr budget estimate for the quarter; and 11.9% drop when compared with receipt for the preceding quarter.

Within the period, estimated retained revenue of the Federal Government was N731.61bn, while total expenditure was N979.05bn, resulting in an estimated deficit of N247.44bn.
The report blamed the development on the shortfall in both oil and non-oil revenue during the period, owing “to the drop in crude oil production, arising from leakages and shut-ins/shut-downs at some NNPC (Nigerian National Petroleum Corporation) terminals.
Total oil receipt stood at N1.226tr or 60.1% of total revenue, it was lower than both the proportionate quarterly budget estimate and the receipts in the preceeding quarter by 9.1% and 3.5%, respectively.

Total non-oil revenue was N814.55bn or 39.9% of the total, down from the proportionate quarterly budget estimate of N1.335tr by 39%, just as was below the third quarter level by 22.1%.
“The lower non-oil revenue relative to the proportionate quarterly budget estimate was due to the shortfall in most of its components except Customs Special Levies (Federation Account component) during the review period.”

The CBN also reported $14.71bn foreign exchange inflow, compared to an outflow of $8.38bn, respectively, resulting in a net inflow of US$6.33bn; while forex sales to the authorised dealers amounted to US$5.08bn, compared with US$6.49bn in the preceding quarter.

“The average exchange rate of the naira vis-à-vis the US dollar at the investor and exporter window appreciated by 0.5% to N360.47/US$, while the rate at the inter-bank segment depreciated marginally by 0.1% to N305.96/US$ at end-December 2017.”

Total deposits at the CBN amounted to N13.172tr, representing 7.5% increase over the level at the end of the third quarter of 2017, arising from deposits of banks, Federal Government and “Others” in the review quarter.

http://investdata.com.ng/2018/02/fg-records-n247-44bn-deficit-q42017-says-cbn-report/#more

NSE Shakeout Leads To Low Valuation Ahead Of Earnings Season


The nation’s equity market in the last three weeks has recorded a mixed performance after rallying for four consecutive months to a five-year high at 45,092.83 basis in January 19, 2018 due to impressive Q3 numbers released in October. The numbers were considered good enough to reverse the two previous months of pullback, helped also be the influx of positive economic data, increasing foreign inflows and supporting activities in the last quarter of 2017 all of which boosted market and economic recovery that overflowed into 2018. So strong was the positive momentum that it wiped away what has come to be known as the January effect (when the market always closed red) for the first time in 15 years. The NSE recorded all of 15% growth in January.

It is therefore not unexpected, just as in any stock market of across the globe that profit taking would happen, leading naturally to panic selling that became the order of the day. This pulled down the market in the last trading week of January, before rebounding in the following week and experiencing five straight days of correction last week. The correction mode was triggered by the long awaited pullback in the developed markets which happened in the U.S last week, from where it spread into Europe, Asia and other emerging markets.

The benefit of this correction, especially for the Nigerian market is valuation, at a time many companies had recorded their 52-week highs a few weeks ago. With the pullbacks in last three weeks however, the NSE’s 12-month trailing P/E (Price/Earnings) ratio that had stretched above 18 at the end of January is now seating below 17 at 16.20. For as long as earnings remain strong, any price decline in the market will cause further declines in the P/E, boosting dividend yield as 2017 declaration earnings reporting season is around the corner.

In our latest update, we use the chart below, showing the NSEASI’s 10-day advance/decline (A/D) line over the last year. If you are unfamiliar with the term 10-day A/D line. It is simply a rolling 10-day total of the net number of stocks in the composite index rising and falling on daily basis. When the line is looking up, this means more stocks are gaining and at the same time rising, while when the line is looking down, it is a sign that more stocks are falling or losing.

Over the course of three weeks of mixed performance, since the All Share Index closed high on January 19, 2018, the 10-Day A/D line has seen an outright free fall, pulling back to levels where it started this year’s rally to offer investors and traders opportunities to reposition ahead of the coming earnings season, when strong earnings of individual stocks will influence their prices positively depending payout ratios and market reactions to such.

The NSE Composite index is currently down about 4.36% from its 52 week high, but the average stock in the market is now down 10.34% from its respective 52-week high. That may look like a wide divergence, but it is actually pretty common for individual stocks reading to be much lower than the index owing to the fact that not all stocks hit 52-week highs at the same time with the index. In fact, you hardly even see a third of stocks hit an all high on the same day. While the average stock was down 10.34%, the vast majority of stocks are down less than the average -56 to be exact.

Of those 56, 23 are still down less than 6% from their respective highs. So who is currently the biggest decliner in the market? The price performance chart shows that they are low cap stocks which had suffered losses due to the new pricing rule on the exchange.
Consolidated Hallmark Insurance at the current price of N0.35, is down by 30% from its 52 week high, followed by sub-sector peers: Unic Insurance and Lasaco Assurance, as well as ABC Transport that were down by 28%, 28% and 22% respectively to close Friday’s trading session at N0.36, N0.36 and N0.39.

On the upside, shares of Unity Bank have been holding up better than any other stock on the exchange, as it hit new 52-week high, after gaining 232.73% year-to-date.

The end of the correction is already in sight as buying pressure is gradually looking up. The current downturn for Nigeria’s stock market is limited to these levels based on technicals as the economic and market fundamentals remain strong and positive with improving economic activity as revealed by the recent Purchasing Managers’ Index that remains above 50 points at 57.3 point in January, according to data by the Central Bank of Nigeria (CBN) report.

http://investdata.com.ng/2018/02/nse-shakeout-leads-low-valuation-ahead-earnings-season/

Indicators Look To Early Fillers For Market Direction In Nigeria, Amidst Continued Volatility


Market Update for Week Ended February 9 and Outlook for Feb 12-16
Photo Caption: From left, Pai Gamde, Chief Human Resources Officer, The Nigerian Stock Exchange (NSE); Oscar N. Onyema, OON, Chief Executive Officer, NSE; Asisat Oshoala, MON, African Female Footballer of the Year; Tinuade Awe, Executive Director, Regulation Division, NSE; Mojisola Adeola, Head, Council Secretariat, NSE during Closing Gong ceremony held in her honour at The Exchange on Friday, February 9, 2018.

Trading on the Nigerian Stock Exchange moved south sharply to end last week lower, marking the second consecutive week of a down-market in 2018 after the year’s early rally that pushed many stocks to their 52-week highs. The five-day back-to-back losses were attributed to profit taking and sell-offs occasioned by panic in developed markets that were extended to other markets of the world.

During the ensuing panic sell-offs, institutional and foreign investors that positioned earlier watched keenly. It is important to note that these foreign investors who exited their positions in developed markets and economies to jump into emerging and frontier markets like Nigeria’s had long expected the ongoing corrections, particularly in the U.S, since last November.

The scenario today, is different from what actually happened in 2008 to 2009, when there was global meltdown, a financial crisis that was fundamental, unlike what is happening now, which is technical, judging by the fact that many stock markets had rallied for two to four years, with stocks hitting new all-time highs before this massive pullback as a result of sell-offs. Nigerian is one of the emerging economies and a frontier market with low valuations, after many of its stocks had become grossly undervalued arising from the five quarters of recession it exited in the second quarter of 2017. Nigeria’s travail began with the collapse of oil price to $28 per barrel, made worse by the political miscalculation, low economic activities and the unclear policy direction of government that pushed the nation down the cliff.

Today, the nation’s economic recovery has reflected on the improving market fundamentals, going by the positive data that continues to confirm the impact of the sustained intervention by the Central Bank of Nigeria (CBN) in the foreign exchange segment of the inter-bank market, to support the Naira. There is, also growing expectation that the CBN may cut rate before the end of first half of the year, a situation that may become even more compelling, if inflation rate continues its downward trend as expected in the January data which would be released by the National Bureau of Statistics (NBS), coming Wednesday.

The early fillers of full-year earnings reports are likely to start releasing their numbers this week also, knowing that stronger individual earnings will drive prices up especially with higher payout ratio.
Last week on the Nigerian Stock Exchange (NSE), the All-Share Index resisted to breakdown the psychological line of 43,000 which was becoming a new strong support level, such that any breakout could have led to 41,000 basis points.

Market technicals were weak and mixed as trading volume was huge and breadth, negative to halt the previous week’s up market.
The NSE’s composite index shed all of 1,512.07 points to close at 43,127.92 points, from an opening figure of 44,639.99 points, representing a 3.39% decline on a huge volume, which was higher than previous week’s. Transactions were driven by activities in financial services and conglomerate sectors. Similarly, market capitalisation for the period closed lower at N15.48tr from the opening value of N15.88tr, representing a 3.39% value loss for the period by investors.

The best performing stocks’ table for the week was dominated by a mix of low cap stocks from different sectors and market sentiments that had pushed some of these stocks to their 52-week-highs on a high volatility. This is despite the sell-off that subsided on Friday, to possibly give room for a rebound in this new week as earnings reporting season kicks off.

Bearish sentiments continued in the week under consideration, as market indices moved southwards due to panic sell-off and profit booking on the side of traders and investors that had recorded gains from the early rallies in low and medium cap stocks. This has reduced the NSE ASI’s year-to-date return to 12.77%. Market capitalisation growth for the period stood at N1.87tr, representing a 13.72% gain from the year’s opening value.

Market breadth for the week was negative with the decliners outpacing advancers in the ratio of 64:23 on a huge volume of trades to short-live the one week up market.
International markets were lower during the week, as the U.S was sharply down to reach levels it has not seen since before its 2016 presidential election, irrespective of strong earnings and economic data. In Europe, stocks experienced the worst sell-offs since the Brexit vote amid concerns that the European Central Bank would cut back on stimulus and raise interest rates. In Asia, Japanese stocks were among the worst performers in the world but most investors remained positive on the economy. Meanwhile China’s economy bucked the trend in the developed world with a cooling rate of inflation,

Back home, the benchmark NSE Index opened the week on a negative note and suffered losses till Friday, bringing total loss to 3.39% on panic selling and market correction wave.
The NSE index and all sectoral indices closed in red for the period, except for the NSE AseM that remained flat for the week. The NSE Premium suffered the week’s biggest decline, shedding 4.68% in one week.
Market activities for the week, in terms of volume and value were mixed as volume was up by 35.47% to 4.43bn shares from the previous week’s 3.27bn units, while value declined by 13.80% to N24.24bn from the previous week’s N28.12bn.

Linkage Assurance and Caverton topped the advancers’ table with a 25% gain and 20.97% respectively to close at N0.85 and N3.00 per share, due to market forces and possibilities of dividend payment, while Consolidated Hallmark Insurance and Skye Bank led the decliners table, losing all of 27.08% and 25.17% that they accumulated during the recent market rally to close at N0.35 and N1.07 respectively, on the back of profit taking and impact of new pricing rules. It is important to note that the fate of Skye Bank particular rallied significantly, becoming the biggest gainer for January. With the correction wave, the stock is also losing much more than it gained already, at a time it’s price rally was not backed by fundamentals, given that even its 2016 audited result for the year ended December 31, 2016, or any other since the CBN intervention.

Market Outlook
As we enter the middle of February, expect volatility and repositioning to continue while profit taking subsides as early fillers of December accounts start rolling in, just as the January inflation data.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is approaching.

We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks pick for 2018 are available now to guide your positioning as trading for the year just started.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv.

Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467http://investdata.com.ng/2018/02/indicators-look-early-fillers-market-direction-nigeria-amidst-continued-volatility/

FG Assures Of Ongoing Projects Completion, Forecasts 3.5% GDP Growth


Photo Caption: Commandant of the National Defence College (NDC), Rear Admiral Adeniyi Oshinowo; Deputy Commandant, Major Gen. Peter Danke and the Representative of Vice President and Minister of Finance, Mrs. Kemi Adeosun, during a lecture delivered by the Vice President to the NDC Course 26 Participants in Abuja on Friday, February 9, 2018.

The Federal Government says it would strictly deploy the 2018 capital budget to fund infrastructural projects across the country, particularly the completion of ongoing projects
Moreso, Minister of Finance, Mrs. Kemi Adeosun, believes Nigeria’s economy could grow by 3.5%, 1.4% more than the International Monetary Fund’s projection of 2.1% for the country.

Delivering a lecture to Course 26 participants of the National Defence College (NDC) on Friday in Abuja, Mrs Adeosun, who represented Vice President Yemi Osinbajo, assured that the government would retain the capital budget despite the nation’s forthcoming general elections.
Responding to an enquiry by a member of the NDC Course 26 on the use of the capital budget for the general elections, Adeosun maintained that the Muhammadu Buhari administration would not engage in diversion of funds for capital projects during the polls.
The Administration, she stressed, “remains committed to infrastructure spending at the high levels of the past two years and the completion of major ongoing projects.”

Transformation, jobs and wealth creation across the country, she continued, remain very dear to the administration, she said, recalling that in the budget of N8.612tr presented by President Buhari to the National Assembly on November 7, 2017, focus is on massive infrastructure development.

These, according to a statement by Oluyinka Akintunde, spokesman to the Finance Minister, include areas like: key strategic roads, rail and power projects, among others.
Thee Minister, who spoke on “Economic Dimensions of National Security: The Nigerian Experience,” said improvements in economic security was vital to Nigeria’s economic growth, human security improvement, and realisation of national defence and security requirements.
The Vice President also assured that the Federal Government would continue to play a key role in ensuring national cohesion by promoting social inclusion as a key state objective.
“Economic development is a springboard for improved national security because it comes with growth which enables more resources for a growing population.

“National economic development means that a country can meet its national security needs without depending on outsiders for the provision of its defence and security needs. Depending on food and energy imports makes a nation vulnerable to external pressure,” said the Vice President, who chairs the Economic Management Team (EMT) of the Government.
He disclosed that the administration adopted the Economic Recovery and Growth Plan (ERGP) as a response to the nation’s slip into recession and in its bid to restore growth and reduce vulnerability to external shocks.

The ERGP, he added, was initiated to address macroeconomic balance, increase contribution of agriculture, manufacturing, mining and high value services to the economy, besides building a competitive economy through the provision of infrastructure, and investment in the Nigerian people.

On the Social Investment Programme, Vice President Osinbajo revealed that about 200,000 N-Power Jobs had been created under the programme, while 250m meals had been served under the Home Grown School Feeding Programme.
He added that 300,000 micro loans had been issued under the Government Enterprise and Empowerment Programme.
“The inflation projection of 15.74% by end of 2017 was achieved and there is good reason to believe that the EGRP target of 12.42% by the end of 2018 can be achieved.

“With regard to foreign exchange reserves, the level of $40.3 billion achieved by end January is already quite close to the amount of $43.53 billion projected in the ERGP for the end of this year. Given the current state of the oil market, this is a target that can readily be achieved,” the Vice President stated.

http://investdata.com.ng/2018/02/fg-assures-ongoing-projects-completion/

CBN Intervenes In Retail SMIS With $325.64m Forex

The Central Bank of Nigeria (CBN) again at the weekend intervened in the Retail Secondary Market Intervention Sales (SMIS) with $325.64m, to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

According to Acting Director in charge of Corporate Communications at the CBN, Isaac Okorafor, the continued intervention were in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade.

According to Okorafor, the feedback from the wholesale and retail segments of the Nigerian Forex markets showed that customers were satisfied with their level of access to foreign exchange. He said the degree of optimism displayed by all players underscored the fact that everyone was happy with the level of transparency in the market.

Speaking further, Okorafor assured that, with the recession now over and foreign reserves now standing at $42 billion, the CBN had enough in its arsenal to maintain the international value of the Naira as well as guarantee access to forex by those requiring it to meet genuine needs.
He also reiterated that the desire of the Bank to ensure that all, particularly low end users, had access to foreign exchange to meet genuine needs prompted the Bankers’ Committee, in its first meeting of 2018, to agree to sell United States dollars to those requiring it for invisibles at the rate of N360/$1, without any commission whatsoever.

It will be recalled that the CBN in its last SMIS, in January 2018, injected the sum of $304.4m in the inter-bank Foreign Exchange Market.
Meanwhile, the naira exchanged at N361/$1 in the BDC segment of the market on Friday, February 9, 2018.

http://investdata.com.ng/2018/02/cbn-intervenes-retail-smis-325-64m-forex/

Investdata Price & Earnings Tracking For Week Ended February 9, 2018

http://investdata.com.ng/2018/02/investdata-price-earnings-tracking-week-ended-february-9-2018/

CHART SUMMIT! CHART SUMMIT!! CHART SUMMIT!!!

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders.

Practical Technical Analysis for Novices and Advance Traders/Investor

Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors knowledge on Technical Analysis…

Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.

Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.


Registration is ongoing

There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in this New Year.

Come with your laptop to enjoy 50% discount on chart software that will aid your trading in 2018 and beyond. This discount is for attendees only.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223…….

Ambrose Omordion,
Chief Research Officer of InvestData Consulting Ltd
http://investdataonline.com/financial-success-summit/

Photo News: Nigeria Participates In South Africa’s Mining Indaba


From right, Nigerian Ambassador to South Africa, Ahmed Ibeto; Niger State Commissioner of Mineral Resources, Rahmatu M. Yar’adua, and Minister of Mines and Steel Development, Dr. Kayode Fayemi; inspecting the Nigerian exhibition at the just concluded Mining Indaba in South Africa.

http://investdata.com.ng/2018/02/photo-news-nigeria-participates-south-africas-mining-indaba/#more

Low Price Attraction Boosts Positioning Ahead Earnings Declaration On Nigerian Bourse

Nigeria's equity market started the week on a scary note on Monday with the composite All-Share index plunged from the opening of the day's trading session in continuation of last week's correction wave to record the highest loss position in the last six trading days of down market.

It had a 6-wave decline, and by midday rallied off on the strength of Dangote Cement's gain to reduce losses, after touching intraday highs of 43,198.00 from lows of 42,080.55, which it rolled over, closing the day at 42,737.89. Trading for the day reflected market players’ fear and panic selling which was as a result of extended negative sentiments of corrections.

With this in mind, as we said on Friday, the psychology always changes when stocks go down. At this point many search for stories to fit the price, trying to raise up a negative scenario unfolding for the market. Having been involved in the market for more than 15 years, I have seen, within short and long term cycles, thousands of turning points, trend changes, phases of a cycles, trends and corrections of trends. Stock markets can, and do have technical corrections. And this long pullback can come with reasons or none at all, other than price.

For clarity, let us look at the developed markets and economies, especially the U.S where interest rate and inflation are on the rise ahead of the tax cut which will naturally put pressure on the stock market despite the strong earnings. But here, we have a recovering economy with strong projection of growth this year, money market rate are on the southward movement now, consumer confidence and corporate earnings are looking up. The prospects of earnings coming in better than expected is high so there is no need for all these panic here and there. Stay with the right stocks, oil price and global markets are recovery. If you are hunting for the right stocks to buy, join Investdata Buy and Buy Signal Setup to play the stock market profitably especially with this earnings season.

At the end of trading on Monday, the market broke down the psychological line of 43,000 that had formed recent support, now heading to the 50 DMA on improving buying pressure of 59% and selling position of 41% of total transaction, with volume index of 0.56 with money flow index of 35.18 point looking down.

Meanwhile, the All Share Index shed 390.03 points to close at 42,737.89 basis points after opening at 43,129.926, representing a decline of 0.90% on a high traded volume that was lower than the previous day's. Similarly, market capitalisation went down to close at N15.34tr after opening at N15.48tr which also represented a 0.90% value loss in investors’ portfolios worth.

The downturn recorded was due to value depreciation by Nigerian Breweries, Dangote Sugar, Lafarge Africa, Guaranty Trust Bank , Zenith Bank and UBN, all of which further dragged the NSE’s Year-To-Date returns to 11.75%, just as market capitalisation gain for the period reduced to N1.89tr, representing a 12.56% YTD growth.

The benchmark index and all other sectorial indexes closed red, except for the NSE Industrial, which was green, while NSE AseM continues to remain flat. Market breadth for the day remained negative as decliners outnumbered advancers in the ratio of 36:13, to continue its six trading sessions of bear transition.

Market activities in volume and value terms were mixed. While volume dropped by 6.33% to 517.44m shares from previous day’s 552.39m units, value rose by 15.37% to N5.19bn from N4.49bn.

Transaction volume for the day was considerably boosted by financial services stocks like Skye Bank, FBNH, Jaiz Bank, UBA and FCMB, which witness increased trading to top the activity chart as most traded.

Best performing stocks for the day were PZ and Beta Glass with 5.83% and 4.97% gain to close at N25.40 and N68.70 respectively, on market forces and full year earnings expectations, while Eterna and Equity Assurance led the decliners side, losing 9.67% and 8.33% to close at N5.42 and N0.44 each, on profit booking and market forces.


TODAY OUTLOOK


The relatively low price attraction has boosted positioning ahead earnings declaration, while supporting high possibility of rebound today in the midst of volatility and portfolio reshuffling as buying pressure is looking up again. But stay with value stocks as today trading confirm direction.

However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.
We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.


It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08028164085.


Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.


Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and Tv. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.


Chart Summit! Chart Summit!! Chart Summit!!!


Investdata Consulting Ltd is organizing another workshop where experts would simplify market jargons with the aim of increasing understanding and increasing the pool of retail investors.


Theme: ABC of Technical Analysis for the Novices and Advance Traders

Have you traded the stock market before and failed? It is a known fact that about 90% of those who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time. You don’t have to be one of them.

Therefore, when you attend this Practical ABC Technical Analysis conference, you would learn how to trade such that you become one of the lucky 10%, who manage to consistently play the market profitable by themselves through our SIMPLE trading strategies and buy & sell signal setup.

Consistency is the key to equity trading and investing successfully.

At investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market situation, especially when it comes to equipping you well enough to know how to protect their portfolios and profit from market corrections in a recovering economy.

We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Practical Conference on Technical Analysis for the Novices and Advance Traders. We would be taking participants through:

· Understanding the momentum behind current equity movement and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.

· Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

· Know what the smart money are doing

· Know what they are buying

· How you should buy what they are buying.

The workshop is scheduled as follows:

DATE: February 24. 2018
TIME: 10am – 3.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.


This chart summit is designed specifically for those who:

Jump out of profit position in fear of giving profits back?
Indecision in pulling the trigger because you fear the prospects of a loss?
Holding on to losing positions because you fear taking the loss?
Trading often leads into unplanned trades because you fear leaving money on the table?
Small trade size or investing small amount because you’ve just had a large loss?
Increasing you position size to try and make up for past losses?
This practical workshop is for novice traders, investors, professionals and fund managers who want to overcome fear and improve their trading performance. The workshop is basically on technical analysis and practical charting teaching on evidence-based techniques that is working in today market. Also the power of focused trading and investing strategies that will help participants build mental skills to turn fear into profits and protect capital.


Registration is ongoing

There will be sales of stock trading and investing materials at the end of the conference, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set. All at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom in 2018. Also come with your laptop.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdataltd..com/2018/02/market-update-for-february-12.html