Investdata Price & Earnings Tracking For Week Ended Sept 21, 2018

https://investdata.com.ng/2018/09/investdata-price-earnings-tracking-for-week-ended-sept-21-2018/

CBN Injects $317.52m, CNY 58.40m Into Retail SMIS

The Central Bank of Nigeria (CBN), on Friday announced another intervention in the retail Secondary Market Intervention Sales (SMIS) by injecting a total of $317.52m in that segment of the market in addition to CNY58.4m in the spot and short-tenored forwards segment.

The figures obtained from the apex Bank, revealed that the US dollar-denominated interventions were only for actors in the agricultural and raw materials sectors while the Yuan was for Renminbi denominated Letters of Credit.

Confirming the figures, the CBN’s Director, Corporate Communications Department, Isaac Okorafor said the Bilateral Currency Swap Agreement (BCSA) with the Peoples’ Bank of China had continued to receive encouraging responses from customers.
While noting that Friday’s sale was the fifth in the series of interventions, he said the BCSA was achieving its major objectives of reducing the use and influence of a third currency transactions; reducing the pressure on the naira exchange rate; easing trade transactions between Nigeria and China and maintaining financial market stability in Nigeria.

Okorafor further assured that the CBN would remain committed to ensuring that all the sectors of the foreign exchange market continue to enjoy access to the needed foreign exchange by Nigerians.

It will be recalled that the Bank on Tuesday, September 18, 2018 intervened in the inter-bank Foreign Exchange Market to the tune of $210 million.
Meanwhile, $1 exchanged for N361 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY 1 exchanged for N53.

https://investdata.com.ng/2018/09/cbn-injects-317-52m-cny-58-40m-into-retail-smis/#more

Corporate Actions As At Week Ended Sept 21, 2018

https://investdata.com.ng/2018/09/corporate-actions-as-at-week-ended-sept-21-2018/#more

Investdata Daily Sentiment Report

NSEASI buy 16% sell 84% volume index 0.82 MFI 43.89
Access buy 0% MFI 70.85
Afrprud buy � volume index 1.39 MFI 68.70
Aiico buy � MFI 23.85
Dangote flour buy 0% volume index 1.14 MFI 19.55
Diamond buy 44% sell 56% volume index 0.77 MFI 69.03
Fbnh buy 50% sell 50% MFI 52.03 Fcmb buy 47% sell 53% MFI 61.69
Fidelity buy 0% volume index 1.52 MFI 42.31
FO buy 0% volume index 1.00 MFI 65.05
GT buy � volume index 3.82 MFI 58.89
Hony flour buy � volume index 0.73 MFI 39.84
Japaul buy � volume index 2.06 MFI 26.63
Lasaco buy 50% sell 50% volume index 0.92 MFI 87.96
Law buy 0% volume index 1.19 MFI 33.70
Lvstk buy 0% volume index 1.35 MFI 34.89
Neimeth buy 0% volume index 1.75 MFI 64.99
Nem buy 0% MFI 80.64
Oando buy 0% volume index 1.39 MFI 66.70
Prestige buy � volume index 4.59 MFI 52.71
Sovereins buy � volume index 0.96 MFI 46.80
Sterling buy � volume index 0.89 MFI 51.25
Transcorp buy 75% sell 25% volume index 1.61 MFI 57.54
Uacn buy 42% sell 58% volume index 5.07 MFI 49.03
Uba buy 33% sell 67% MFI 55.51
Ubn buy 0% volume index 1.64 MFI 48.59
Ucap buy 0% volume index 0.86 MFI 46.20
Wapco buy 0% volume index 5.05 MFI 23.07
Wapic buy 0% MFI 55.62
Wema buy 50% sell 50% volume index 2.62 MFI 32.62
Zenith buy 0% MFI 69.76

https://investdataltd..com/2018/09/investdata-daily-sentiment-report_25.html?m=1

Anxiety Persists On NGSE, As Bargain Hunters Take Advantage Of Low-Price Regime

Market Update for September 24, 2018

The week started with Monday closing as another tough and volatile session on the Nigerian Stock Exchange (NSE), as the seeming bull transition was halted and the benchmark All-Share index closing lower on a low volume traded.

This followed profit taking by traders in blue chips stocks that had rallied recently, amidst the anxious wait for the outcome of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting before the end of Tuesday. The possibility of another unanimous vote to hold rates for the umpteenth time is high, given the latest (August) inflation data released by the National Bureau of Statistics (NBS); added to the steady decline in the nation external reserve (READ MORE). As at September 21, 2018, according to the latest filing on the CBN website as at Monday, September 24, 2018, Nigeria’s reserves was down further to $44.825bn, despite continued jump in oil price (Brent Crude) to a four-year high at $80.94 per barrel, before the marginal slip to $80.75pb on Monday, the highest since November 2014. The exit of foreign investors in droves and declining non-oil export has not helped matters.

Also the political environment becoming more unpredictable, going by the outcome of last weekend’s Osun State governorship election, declared inconclusive by Independent National Electoral Commission (INEC). Local and international observers have since expressed worry over the outcome of the Osun poll and that of Ekiti before it, which they say are casting doubts over the possibility of free and fair polls in next year’s general elections across the country.

Such anxiety is likely holding the market down with little oscillation, until after the February 2019 Presidential poll that would act as a compass for the country over the coming four years.
The NSE composite index opened the day slightly in the upside at the morning session, before sliding down between mid-morning and midday, after which it retraced up marginally in the afternoon, after touching intraday lows of 32, 427.54 basis points from a high of 32,577.92bps. It then finished the session lower at 32,451.27bps, following which MACD at the end of trade showed a convergence to support the expected short-term rally. Market sentiment turn positive on the expected outcome of the MPC meeting.

Despite the current situation in the market, the expected Q3 earnings numbers will reveal the true state of many companies and indeed, the economy. Identifying when to buy or sell matters a lot. This is what technical analysis will do for you. The market is preparing to produce another set of billionaires for 2019 and beyond. That is why you should go for HOME STUDY PACK of the Stock Trading Workshop held by Investdata Consulting on July 28, 2018. These are audio-visual materials you can play to view the live class on your phone and laptop to help you know when to jump into the market and specific stocks, or stay out. For your Pack, call or send ‘YES’ to the phone numbers below.

Market technicals for the day were negative and mixed, with high selling pressure on low volume and negative market breadth as showed by Investdata’s Daily Sentiment Report, showing a ‘sell’ position of 84% and ‘buy’ volume at 16%. Volume index was 0.82 of the day’s total transactions.
The forces behind the day’s market performance was weakened, as revealed by the money flow index at 43.89bps, down sharply from previous day’s 51.65bps, indicating that funds left some stocks as profit taking resumed again.

Index and Market Cap
At the end of trading, the NSE All Share Index shed 88.90bps, or 0.27%, closing at 32,451.27bps, after opening at 32,540.17bps; marketcapitalisation fell by N32.45bn to close at N11.85tr from N11.88tr, also representing 0.27% slide.

However, this is not the time to be loner. Join the Investdata Buy & Sell Signal setup, where you can look over our shoulder and follow to know when to hold cash and take advantage from our watchlist of stocks, for your different investment purposes. You can then take position for maximum gains in the coming weeks and months, given that the lingering market decline has and continues to create new entry opportunities. To become a member, send: YES or STOCKS to the phone numbers below. The number of stocks on our watch list has increased due to the prolonged correction. Take advantage of this service to BUY and SELL right.

Monday’s downturn was impacted by losses suffered by medium and high cap stocks, like: NB, Lafarge Africa, Forte Oil, Oando, Access Bank, FBNH, Dangote Flour and Fidelity Bank, among others. This impacted negatively on the NSE’s Year-to-Date return, as the day’s loss brought it to 15.14%, while market capitalization for same period had fallen to N1.76tr, or 12.94% from the year’s opening value.

BearishSectoral Performance
The sectorial indexes were largely bearish on Monday except for the NSE Banking and Insurance that closed green, as the undervalued state of financial stocks remains an attraction that supported Monday’s rally in that sector.
Market breadth was negative as decliners outweighed advancers in the ratio of 23:13, even as transactions in volume and value was down 63.39% and 68.75% respectively, to 190.57m shares worth N3.31bn, from previous day’s 523.44m units valued at N10.58bn. This was largely driven by financial services and conglomerates stocks like: Guaranty Trust Bank, Transcorp, UBA, Fidelity Bank and Diamond Bank.

Niger Insurance and Lasaco Assurance were the best performing stocks, topping the advancers’ table after chalking 9.68%and 6.45% to close at N0.34 and N0.33 each respectively, just due to low-price sentiments as the sector swings into the recapitalization mode. On the flip side, Livestock Feeds and Union Bank were the worst performing, shedding 9.52% and 9.48% of their opening value respectively to close at N0.57 and N5.25 on market forces and profit taking.

Market Outlook
We expect the market to maintain the same mood till it will pick up again ahead of quarter-end window dressing by fund managers that want to balance their trading account for their fees, which will usher in the Q3 earning season in October. We are in a season of rising oil price, expecting new policy statement and reform that would stimulate the economy again.
The ongoing volatility is likely to persist as bargain hunters take advantage of the low-price regime, in the midst of continued selloffs and political risk, especially as shadow elections by political parties kick off any moment from now.

Already, investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space.
Meanwhile, analysing the actual numbers released has given basic insights into company earnings that are likely to drive prices and determinemarket valuation.
Investors should review their positions in line with investment goals, vis-à-vis strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value,
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company,economic and market fundamental.

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

https://investdata.com.ng/2018/09/anxiety-persists-on-ngse-as-bargain-hunters-take-advantage-of-low-price-regime/

KILLER BEE

A killer bee is an individual or firm that helps a company fend off a takeover attempt. A killer bee is usually an investment banker who devises strategies to make the company less attractive or more difficult to acquire, by forcing acquirers to pay more, or by diluting the acquirer's holdings.

Investdata Academy
http://investdataltd..com/2018/09/killer-bee.html

Investdata Daily Sentiment Report

NSEASI buy 80% sell 20% volume index 0.96 MFI 51.51
Access buy 12% sell 88% MFI 72.57
Dangote Cement buy � MFI 22.76
Dangote sugar buy � volume index 2.91 MFI 38.09
Diamond buy 60% sell 40% volume index 1.06 MFI 61.14
Fbnh buy � MFI 52.06
Fcmb buy � MFI 34.97
Fidelity buy 40% sell 60% volume index 2.39 MFI 45.45
Fmn buy 0% volume index 0.81 MFI 52.13
GT buy 75% sell 25% MFI 61.48
Japaul buy 0% volume index 0.75 MFI 24.93
Lasaco buy � volume index 2.00 MFI 72.34
M&B buy 0% MFI 45.04
Mben buy � volume index 3.73 MFI 65.72
Nascon buy � volume index 0.79 MFI 7.62
Oando buy � MFI 64.58
Sovereins buy 50% sell 50% volume index 0.90 MFI 46.41
Sterling buy � volume index 1.49 MFI 51.50
Transcorp buy 80% sell 20% volume index 0.73 MFI 56.49
Uacn buy 0% volume index 1.80 MFI 53.70
Uba buy 80% sell 20% volume index 1.17 MFI 68.53
Ubn buy 0% volume index 2.04 MFI 41.45
Ucap buy 0% volume index 1.18 MFI 39.06
Unity buy � MFI 65.48
Vitafoam buy � volume index 3.08 MFI 29.01
Wapco buy 0% MFI 22.25
Wapic buy � MFI 63.13
Wema buy 0% volume index 1.53 MFI 36.46
Zenith buy 10% sell 90% volume index 2.20 MFI 61.38

https://investdataltd..com/2018/09/investdata-daily-sentiment-report_26.html?m=1

RMB Seeks Greater Partnership, Awareness To Achieve Financial Inclusion Target

The Chief Operating Officer of Rand Merchant Bank Nigeria (RMB), Funso Odukoya, wants increased awareness and greater partnership among stakeholders, if the nation is to achieve its target of greater financial inclusion in the country ahead of the 2020 target date.

Odukoya spoke during a panel session at the 2018 Annual National Conference of the Finance Correspondents Association of Nigeria (FICAN), with the theme: “Banks, Fintechs and Nigeria’s Financial Inclusion Journey,” held in Lagos, recently.
“To achieve financial inclusion, we need to educate everyone. Let’s get the information out there and let’s bring people into the financial system.

“We can achieve this by understanding our culture and by leveraging information to make sure everybody understands what financial inclusion is about,” he said.
Responding to a question on reports that banks do not lend to FinTechs, because of competition, Odukoya said: “Banks carry out due diligence before they lend to any sector. You really must do the due diligence before you can lend to anybody.
“Banking is just (about) understanding the risk,” he noted, stressing that in most countries where Fintechs developed, “you will discover that they are not really dependent on banks’ funding.”

“There are venture capitalists and private equity companies that look into the value the start-up is bringing and they provide funds to those companies.
“So, FinTechs that are struggling for funds, I would say is because they have no value to offer. If a FinTech start-up has value, funding will seek such a firm out.
“We have instances of young start-ups that are flooded with funding because they are bringing value to the table.”
He however expressed the need for collaboration in the relationship between the banks and the FinTechs, rather than a “we against them” thing.
“It has to be all of us working together to achieve the ultimate goal of reaching out to everyone.
“So, the goal is not for fintechs to overtake banks, or banks to overtake fintechs. The goal is to reach out to everyone and make financial services affordable and available to everyone,” he stressed.

Photo Caption: Members of FinTech Nigeria during a recent visit to the Securities & Exchange Commission (SEC) in Abuja.

https://investdata.com.ng/2018/09/rmb-seeks-greater-partnership-awareness-to-achieve-financial-inclusion-target/#more

Q2 GDP Slowdown: Nigeria’s Exit From Recession Under Threat, Says MPC

past, members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Tuesday rose from a two-day meeting, expressing concerns that the nation’s 2017 exit from recession is under threat. This, they noted, is clear from the latest data released by the National Bureau of Statistics (NBS), showing a growth slowdown in Gross Domestic Product (GDP) from 1.95% in 2018Q1 to 1.5% by Q2.
In a communiqué at the end of its 120th meeting, which ended on Tuesday, the MPC blamed the oil sector for the slowdown, even as there are strong linkages to employment and growth in other key sectors of the economy.

“In this regard, the Committee urged government to take advantage of the current rising oil prices to rebuild fiscal buffers, strengthen government finances in the medium term and reverse the current trend of decline in output growth.”
Crude oil prices (Brent crude) the international benchmark peaked at $82.20 per barrel on Tuesday’s session, beyond the last peak witnessed in November 2014, according to reports, as the sanctions imposed by the U.S on Iranian crude exports becomes effective on November 4. Saudi Arabia and Russia have insisted they would not immediately raise production, after the United States urged them to increase supplies.

The committee expects that this stand-off will play out in Nigeria’s favour, as it could help “strengthen in the last quarter of 2018, with crude oil price remaining above the budget benchmark price of US$51 per barrel and oil production increasing to 2.3m barrels per day.”
The MPC also called on the Federal Government to intensify implementation of its “Economic Recovery and Growth Plan (ERGP) to stimulate economic activity, bridge the output gap and create employment.”
In addition, members noted that the upsurge in inflation growth for the month of August, judging by latest data by the National Bureau of Statistics (NBS), is a sign that gains so far achieved in the economy is under threat of reversal.

Emerging data, the committee said in the communiqué at the end of its 120th meeting that ended on Tuesday, September 25, 2018, “provides evidence of weakening fundamentals.”
The committee drew attention to the rising inflation and pressure on external reserves caused by capital flow reversal as potent challenges to economic growth, lamenting that “inflationary pressures have started rebuilding and capital flow reversals have intensified as shown by the bearish trend in the equities market even though the exchange rate remains very stable.

“The Committee noted that disruptions to the food supply chain in major food producing states due to the combined effects of poor infrastructure, flooding and the on-going security challenges resulted in a rise in food prices, contributing to the uptick in headline inflation. The Committee was, however, optimistic that as harvests progress in the coming months, pressure on food prices would gradually recede, while growth enhancing measures would over the medium term have some moderating impact on food prices.”
In what may have also resulted in the decision to retain the rates for the repeated time, the MPC members “expressed concern over the potential impact of liquidity injections from election related spending and increase in FAAC (Federation Accounts Allocation Committee) distributions, which are rising in tandem with increase in oil receipts.

The Committee was concerned with the rising level of non-performing loans in the banking system, traced mainly to the oil sector and urged the Bank to closely monitor and address the situation. It also expressed concern over the weak intermediation by Deposit Money Banks and its adverse impact on credit expansion and investment growth by the private sector.
“In view of the above developments, the MPC noted that the economy was still confronted with growth headwinds and inflationary pressures. It reiterated the need for synergy between monetary and fiscal policies as a viable option for macroeconomic stability.”

From the foregoing, members reasoned that while “tightening would tame inflationary pressures, stem the reversal in portfolio capital, improve the external reserves position and maintain stability in the foreign exchange market,” on the other hand, it would further weaken growth as credit would become more expensive, NPLs (Non-Performing Loans among banks), would increase further, leading to a deceleration in output.

“In the Committee’s opinion, the upward adjustment would not only signal the Bank’s commitment to price stability but also its desire to maintain positive real interest rates.”
The decision to hold rates constant, members agreed, “would sustain gradual improvements in output growth, maintain the current monetary policy stance and await a clearer understanding of the quantum and timing of liquidity injections into the economy before deciding on possible adjustments. The MPC, however, called on the government to fast track the implementation of the 2018 budget to help jumpstart the process of sustainable economic recovery, and to facilitate passage of the Petroleum Industry Bill in order to increase the contribution of the sector to overall GDP,” the communiqué stressed.

https://investdata.com.ng/2018/09/q2-gdp-slowdown-nigerias-exit-from-recession-under-threat-says-mpc/#more

Why CBN Won’t Hold Banks Liable For $8.13bn Repatriated For MTN- Emefiele

Governor of the Central Bank of Nigeria (CBN), on Tuesday corroborated a statement by Stanbic IBTC Holdings Plc, assuring investors that its banking subsidiary would not be held liable for the $2.6bn it helped telecommunications giant- MTN Nigeria to repatriation from the country using “forged” Certificates of Capital Importation (CCIs).

In a statement by Chidi Okezie, Company Secretary, titled “Re: Regulatory Fine By the Central Bank of Nigeria, dated September 24, 2018, Stanbic IBTC Holdings said it had been informed by its banking subsidiary – Stanbic IBTC Bank Plc, that the CBN commitment “that it would examine new submissions and documentations made by the bank, and where justified, it would review its earlier decision on the penalty it imposed on the bank.”

Fielding questions at the end of the two-day 120th Monetary Policy Committee (MPC) meeting in abuja on Tuesday, Emefiele said any liability arising from the funds transfer was that of MTN and not the four banks.
While the banks have had their reserves with the CBN reduced by N5.87bbn, MTN was asked to refund the entire $8.134bn. A breakdown of the fine showed that Standard Chartered Bank was fined and has since been debited to the tune of N2.47bn, Stanbic IBTC, N1.88bn (READ); Citibank Nigeria, N1.26bn; while Diamond Bank was slammed and debited N250m.
Emefiele also assured expressed optimsim over amicable resolution of the disagreement over the $8.1bn dispute arising from the unapproved repatriation of the funds.

“I am very optimistic we will resolve the matter and I believe that everybody will be happy. MTN will be happy, the banks will be happy. CBN and government would be happy,” Emefiele told journalists in Abuja.
He said an investigation into the matter started two years ago and that inadequate responses from the telecoms group compelled it to publish its finding.

https://investdata.com.ng/2018/09/why-cbn-wont-hold-banks-liable-for-8-13bn-mtn-funds-repatriation-by-emefiele/#more

Investdata Daily Sentiment Report

NSEASI buy 4% sell 96% volume index 0.74 MFI 57.62
Access buy 0% MFI 72.53
Aiico buy 0% MFI 36.48
CCNN buy 29% sell 71% volume index 1.95 MFI 12.21
Custodian buy 0% volume index 1.33 MFI 84.70
Diamond buy 33% sell 67% MFI 66.42
Fbnh buy 0% volume index 0.87 MFI 53.43
Fcmb buy 0% MFI 39.73
Fidelity buy 50% sell 50% volume index 4.42 MFI 56.15
GT buy 87% sell 13% volume index 1.51 MFI 69.36
Hony flour buy � volume index 0.88 MFI 45.49
Jaiz buy 0% MFI 64.58
Japaul buy 0% MFI 26.83
Neimeth buy � volume index 2.24 MFI 56.02
Nem buy � MFI 83.03
Oando buy � MFI 62.61
Prestige buy 0% volume index 16.81 MFI 24.34
Regalins buy � volume index 0.76 MFI 47.32
Royalex buy 0% volume index 9.50 MFI 15.29
Sovereins buy � MFI 54.29
Stanbic buy 0% MFI 60.22
Transcorp buy 50% sell 50% volume index 1.35 MFI 64.83
Uba buy 60% sell 40% MFI 75.99
Ucap buy 0% volume index 1.36 MFI 45.59
Wapco buy 0% volume index 1.02 MFI 18.19
Wema buy 0% volume index 1.81 MFI 36.46
Zenith buy 80% sell 20% MFI 64.59

https://investdataltd..com/2018/09/nseasi-buy-4-sell-96-volume-index-0.html?m=1

NGSE Remains Volatile, Amidst Month, Quarter-End Rebalancing By Traders, Investors

Tuesday’s gain by the composite Nigerian Stock Exchange (NSE) All-Share index suffered a reversal at the end of midweek’s trading session on profit booking, amidst the ongoing interpretation of the implications of Tuesday’s Monetary Policy Committee (MPC) and the comments made by the members (READ).

This is particularly true of the fears expressed by the committee about the possibility of Nigeria slipping back into recession, judging by the gradual slide in GDP, unless something is done to check the economic drift. Based on this fears, among others like the resurgence in inflation, the committee by majority vote, opted to leave all the Monetary Policy rates unchanged to watch as events unfolds in the last quarter of the year, leading to next year’s general elections beginning in February.
Another rate hike in the U.S will further put pressure on emerging market economies like Nigeria, as it will enhance the yield return on US 10-year Treasury Bills.
The NSE benchmark index started out the day on a marginal upside movement, before pulling back between mid-morning and afternoon on selloffs in high cap stocks that had rallied in the last few trading sessions. This was after hitting intraday lows of 32,952.70 basis points from its high of 33,202.30bps, before retracing slightly up at the close of the day trading at 32,963.27bps on a low volume and high selling pressure. MACD crossed over the signal line on a daily chart is strong to support an uptrend in the short-term, but on the back of market forces and sentiments.

Prior to the recent seeming rebound after the market had made a 15-month low at 31,938.6bps on September 13, 2018, before recovering to 33,114.44bps from which bargain hunters are expected to take profit with month-end around the corner.
With the market looking forward to the last quarter of 2018, the expected Q3 earnings numbers will reveal the true state of many companies and indeed, the economy, but identifying when to buy or sell matters a lot. This is what technical analysis will do for you. The market is preparing to produce another set of billionaires for 2019 and beyond. That is why you should go for HOME STUDY PACK of the Stock Trading Workshop held by Investdata Consulting on July 28, 2018. These are audio-visual materials you can play to view the live class on your phone and laptop to help you know when to jump into the market and specific stocks, or stay out. For your Pack, call or send ‘YES’ to the phone numbers below.

Market technicals on Wednesday were negative in the midst of low volume traded, high selling pressure and negative market breadth as revealed by Investdata’s Daily Sentiment Report, showing a ‘sell’ position of 96% and ‘buy’ position at 4%. Volume index was 0.74 of the day’s total transactions.
The driving force behind the day’s market performance was strengthened, despite the profit taking moves in blue chips stocks as shown by the money flow index at 57.52bps, which was the highest reading in the last three months, indicating that funds are entering stocks in the midst of low liquidity.

Index and Market Cap
The benchmark Index at the end of midweek’s trading shed 151.17bps to close at 32,963.27bps, after opening at33,114.44bps, representing a 0.46% decline, just as market capitalization lost N55.19bn to close at N12.03tr, from an opening value of N12.09tr, also representing 0.46% value loss.

However, this is not the time to be a loner. Join the Investdata Buy & Sell Signal setup, where you can look over our shoulder and follow to know when to hold cash and take advantage from our watchlist of stocks, for your different investment purposes. You canthen take position for maximum gains in the coming weeks and months, given that the lingering market decline has and continues to create new entry opportunities. To become a member, send: YES or STOCKS to the phone numbers below. The number of stocks on our watch list has increased due to the prolonged correction. Take advantage of this service to BUY and SELL right.
Wednesday’s downturn was impacted by losses recorded in medium and high cap stocks like: Dangote Cement, Nigerian Breweries,Flourmills, FBNH, Stanbic IBTC, Berger Paints, National Salt, Oandoand Custodian Investment Plc, among others. This impacted negativelyon the NSE’s Year-to-Date return, increasing the loss to 13.81%, while market capitalization for same period had fallen to N1.57tr, or 11.54% from the year’s opening value.

Bearish Sectoral Performance
All the sectorial performance indexes were largely down, except for the NSE Banking that closed green, amidst the demand for banking stocks ahead of their Q3 numbers which may likely beat expectation on the strength of fee and commission income.

Market breadth was negative as decliners outpaced advancers in the ratio of 23:17, to reverse the previous day’s up market. Market transactions in volume and value were down by 22.77% and 37.50% respectively to 172.2m shares worth N2.05bn from the previous day’s 222.96m units valued at N3.28bn. This was largely driven by financial services and conglomerates stocks like: Fidelity Bank, GTBank, UBA, Transcorp and Zenith Bank.
Uacn Property and Niger Insurance were the best performing stocks that topped the advancers’ table with 10% and 8.78% to close at N1.87 and N0.37 each respectively, due to their low-price attraction and market forces. On the flip side, Berger Paints and Prestige Assurance were the worst performing, losing 10% and 9.76% respectively to close at N6.30 and N0.46 on market forces.

Market Outlook
We expect the market to maintain volatile as end of the month/quarter are here for window dressing by fund managers and brokers that want to balance their trading accounts for their fees, which will usher in the Q3 earning season in October. We are in a season of rising oil price, expecting new policy statement and reform that would stimulate the economy again.
The ongoing volatility is likely to persist as bargain hunters take advantage of the low-price regime, in the midst of continued selloffs and political risk, especially as shadow elections by political parties kick off any moment from now.

Already, investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space.
Meanwhile, analysing the actual numbers released has given basic insights into company earnings that are likely to drive prices and determine market valuation.
Investors should review their positions in line with investment goals, vis-à-vis strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value,
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company,economic and market fundamental.

Attention! Attention!! Attention!!!
INVEST 2019 TRADERS & INVESTORS SUMMIT, Registration opens next week, for participation kindly send YES 08028164085, 08032055467, 08111811223Now for details.

https://investdata.com.ng/2018/09/ngse-remains-volatile-amidst-month-quarter-end-rebalancing-by-traders-investors/

Investdata Daily Sentiment Report

NSEASI buy 26% sell 74% MFI 57.66
Access buy 0% volume index 0.94 MFI 68.08
Afrprud buy � volume index 0.82 MFI 65.41
CCNN buy 0% volume index 5.92 MFI 35.79
Continsure buy 0% volume index 4.36 MFI 32.52
Custodian buy � MFI 85.10
Diamond buy 0% MFI 60.91
Fbnh buy � MFI 47.67
Fcmb buy � MFI 39.18
Fidelity buy 80% sell 20% volume index 2.86 MFI 67.07
GT buy 0% volume index 0.91 MFI 71.41
Linkass buy � volume index 3.92 MFI 43.57
Nem buy � MFI 83.08
Nestle buy 100 volume index 6.19 MFI 41.09
Oando buy � MFI 63.65
Red buy 0% MFI 95.16
Royalex buy � volume index 4.98 MFI 34.22
Sovereins buy � MFI 32.41
Sterling buy � volume index 2.04 MFI 45.32
Transcorp buy � MFI 63.84
Uba buy 0% MFI 78.18
Ubn buy 0% volume index 1.33 MFI 44.05
Ucap buy 0% volume index 2.93 MFI 37.85
Uniondac buy � volume index 3.32 MFI 59.23
Wapic buy � MFI 63.76
Wema buy 0% volume index 0.80 MFI 37.50
Zenith buy 50% sell 50% MFI 69.64

https://investdataltd..com/2018/09/investdata-daily-sentiment-report_28.html?m=1

Volatility May Linger On NGSE Ahead Of Week, Month, Q3 Portfolio Rebalancing

Market Update for September 27, 2018

There was an extension of downtrend for the second consecutive trading session on Thursday, closing lower, on a reduced trading volume ahead of Friday, the last trading session for the month/quarter, which is likely to further decline, despite the increased tempo of notification of close period for Q3 earnings reports by many companies.

The bargain hunting induced rebound due to low stock valuations after many listed companies hit their 52-week low, revealing huge intrinsic value of the stocks.
The political risk had earlier shaped the market and the economy in the prevailing bearish ascendance and deteriorating economic position, especially giving the unfolding events that played out at the two recently concluded governorship elections held in Ekiti and Osun States had cast a shadow into what will happen in 2019 general poll and thereby eroding the confidence of free and fair elections.

The NSE’s composite All-Share index opened Thursday on a downside movement in the morning session, which was sustained on a sell-off till midday to afternoon, touching intraday low of 32,684.66 basis points from a high of 32,983.99bps, before bouncing back to finish at 32,763.35bps. The market did not close well despite MACD crossed over the signal line to bullish zone which supports an upturn in short-term, because more stocks shed value at the end of the day trading session.

NSE DAILY TIME FRAME MACD CHART

As the market looks forward to the last quarter of the year, the expected Q3 earnings numbers will reveal the true state of many companies and indeed, the economy, but identifying when to buy or sell matters a lot. This is what technical analysis will do for you. The market is preparing to produce another set of billionaires for 2019 and beyond. That is why you should go for HOME STUDY PACK of the Stock Trading Workshop held by Investdata Consulting on July 28, 2018. These are audio-visual materials you can play to view the live class on your phone and laptop to help you know when to jump into the market and specific stocks, or stay out. For your Pack, call or send ‘YES’ to the phone numbers below.

The session’s market technicals were negative as selling pressure remained high on low traded volume and negative market breadth as revealed by Investdata’s Daily Sentiment Report, showing a ‘sell’ volume of 74% and ‘buy’ position at 26%. Volume index was 0.66 of the day’s total transactions.
Market momentum behind the day’s performance was flat, regardless of the continued profit taking, as shown by the money flow index at 57.66bps, up slightly from previous day’s 57.52bps, indicating that funds are the market during the session despite prevailing low liquidity.

Index and Market Cap
The All Share Index slipped further at the end of trading, shedding 199.92bps or 0.61% to close at 32,763.35bps, after opening at 32,963.27bps, just as market capitalization dropped by N72.99bn, or 0.61% to close at N11.96tr, from an opening value of N12.03tr.

However, this is not the time to be a loner. Join the Investdata Buy & Sell Signal setup, where you can look over our shoulder and follow to know when to hold cash and take advantage from our watchlist of stocks, for your different investment purposes. You canthen take position for maximum gains in the coming weeks and months, given that the lingering market decline has and continues to create new entry opportunities. To become a member, send: YES or STOCKS to the phone numbers below. The number of stocks on our watch list has increased due to the prolonged correction. Take advantage of this service to BUY and SELL right.

The day’s downturn was impacted by profit taking in low, medium and high cap stocks like: Nestle, Guaranty Trust Bank, CCNN, PZ, UBA, Access Bank, Honeywell and Dangote Sugar, among others. This impacted negativelyon the NSE’s Year-to-Date return, swelling the loss position to 14.33%, while market capitalization for same period had fallen to N2.29 or 12.19% from the year’s opening value.

Bearish Sectoral Performance
The sectorial indexesfor the day were largely bearish, except for the NSE Insurance and Oil/Gas that closed higher, amidst traders booking profit on banking stocks and positioning in low priced stocks that made insurance to dominate the top gainers for the day.

Market breadth was negative as decliners outnumbered advancers in the ratio of 21:13, to continue the bearish transition. Market activity in volume and value were mixed as volume was down by 10.46% to 154.29m shares from previous day’s 172.2m units while value went up by 32.99% from N2.05bn to N2.73bn. This transaction was largely driven by financial services stocks like: Fidelity Bank, Guaranty Trust Bank, UBA, Access Bank and Zenith Bank.

First Aluminum and Royal Assurance were the best performing stocks that topped the advancers’ table with 10% each to close at N0.44 and N0.22 each respectively, due to market forces. On the flip side, ABC Transport and PZ Cussons were the worst performing, losing 9.9% and 4.81% respectively to close at N0.30 and N12.85 on market forces and profit booking.

Market Outlook
We expect the market volatility to continue being the last of the week/month/quarter that will usher in the Q3 earning reporting season in October. We are in a season of rising political uncertainties and oil price, were economy has no clear direction and reform policy to stimulate activities that will drive growth.
The recent pullback is creating opportunities for traders and investors to take advantage of the low-price regime to position for expected third quarter earnings reports, in the midst of continued selloffs and political risk, especially as shadow elections by political parties kick off any moment from now.
Already, investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space.

Meanwhile, analysing the actual numbers released has given basic insights into company earnings that are likely to drive prices and determine market valuation.
Investors should review their positions in line with investment goals, vis-à-vis strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value,
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company,economic and market fundamental.

Attention! Attention!! Attention!!!
INVEST 2019 TRADERS & INVESTORS SUMMIT, Registration opens next week, for participation kindly send YES 08028164085, 08032055467, 08111811223 Now for details.

https://investdata.com.ng/2018/09/volatility-may-linger-on-ngse-ahead-of-week-month-q3-portfolio-rebalancing/

SHARK WATCHER

A shark watcher is an individual or firm hired to watch for takeovers by monitoring trading, accumulation of shares and any noteworthy activity.

A shark watcher could be a firm specializing in the early detection of hostile takeovers. Hostile takeover is accumulating a majority share of a publicly traded company's outstanding share.

A shark watcher monitors trading patterns in a client's stock and tries to determine who is accumulating shares. A shark watcher can also be hired by a third party who is interested in possible risk arbitrage opportunities that might arise as a result of an attempted takeover. A shark watcher's primary business is solicitation of proxies for client corporations.

Investdata Academy
http://investdataltd..com/2018/09/shark-watcher.html

HAIRCUT

A haircut is an extremely thin spread between the bid and ask prices of a given stock. It is also a situation in which a stock price gets reduced by a certain percentage for margin trades.

Better still, a haircut is the difference between prices at which a market maker can buy and sell a security or could be a percentage by which an asset's market value is reduced for the purpose of calculating capital requirement, margin and collateral levels.

Investdata Academy
http://investdataltd..com/2018/09/haircut.html

NGSE Suspends Trading In DN Tyre, IEI, UNIC, 3 Others


Management of the Nigerian Stock Exchange (NSE), on Monday announced suspension of trading in the shares of six companies with immediate effect.
They include: DN Tyre & Rubber Plc; FTN Cocoa Processors Plc; International Energy Insurance Plc; and Thomas Wyatt Nigeria Plc. Others are: Union Dicon Salt Plc; and Unic Diversified Holdings Plc.
The suspension, according to a notice by the exchange follows the failure of the company boards to comply with the post-listing Rule 3.1- Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”).
It provides that “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
(b) Suspend trading in the Issuer’s securities; and

(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”.
Consequently, the exchange said the suspension “will only be lifted upon the submission of the relevant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.”

Findings from the website of the NSE by Investdata News shows that Union Dicon Salt last presented its financials (audited for year ended December 31, 2017), showing that there was no operations within the period, resulting in a loss before and after tax of N83.774m.
Thomas Wyatt in a filing by Stephen Mayaki, its board chairman, on June 7, 2018, notified stakeholders that its audited financial for year ended March 31, 2018 would be delayed beyond June 30, 2018, due to “unanticipated delay” in the audit exercise. He had promised that the delay would not go beyond September 30, 2018 (eight days ago).
The most recent filing by International Energy Insurance at the NSE was the audited result for year-ended December 31, 2016, showing that net loss stood at N3.665bn, an increase of about 377.55% over the N767.578m reported in the corresponding period of 2015.

https://investdata.com.ng/2018/10/ngse-suspends-trading-in-dn-tyre-iei-unic-3-others/#more

N5.4tr Debt: Adopt ADR To Resolve 3,000 Law Suits, CJN, Appeal Court Boss Urge AMCON


Chief Justice of Nigeria, Walter Onnoghen, and President Court of Appeal, Justice Zainab Bulkachuwa, want the Asset Management Corporation of Nigeria (AMCON) to consider the Alternative Dispute Resolution (ADR) window available in the country’s courts to resolve its N5.4tr debt recovery cases.

The two justices spoke in Abuja on Monday, October 8, 2018, at an interactive session with the theme: ‘Strengthening AMCON Recovery Drive,’ involving justices of the Supreme and Appeal Courts, the board and management of AMCON, as well as the National Judicial Institute (NJI).
Welcoming participants, MD/Chief Executive of the AMCON, Ahmed Kuru, had lamented the over 3,000 pending cases before the Federal High Court, because obligors deliberately raise issues that would delay justice. This, he explained, is borne out of their belief that by the time AMCON starts addressing the substantive matter, things would have changed. According to Kuru, “given the litigious tendency of our obligors, we anticipate that more than 50% of the cases will proceed to the court of Appeal and eventually the Supreme Court.

“We hope that the special Practice Directions issued by the President of the Court of Appeal will be very instrumental to speedy determination of the eventual appeals. The Practice Direction prescribed three months for concluding all AMCON matters. If the national assignment of recovering over N5tr of bad debts will be achieved, the Practice Direction needs to be strengthened and encouraged,” he added.
Kuru who said that AMCON has enjoyed the support and counsel of both the immediate past and incumbent CJN through the Practice Directions for expeditious hearing and determination of AMCON matters, appealed for its sustenance as it would be of great help, especially with its sunset in mind. Kuru said the quest to recover more was the reason why AMCON shifted its gears from restructuring towards enforcement, meaning that even more AMCON cases would arrive the courts in the years ahead. AMCON was set up in 2010 as a vehicle to free the nation’s banks of toxic debts that hampered growth in the industry, preventing them from effectively performing their role of financial inter-mediation. The corporation currently has an outstanding N5.4tr debt.

Speaking at the session on how AMCON can effectively recover its outstanding debt in view of its eventual sunset, Justice Onnoghen, in his opening address called the attention of the judiciary to the daunting task before the corporation.
He urged AMCON to think outside of the box and fashion innovative ways of accomplishing its mission within the ambit of the law, just as he agreed on the need for the judicial support.
That is the only way, he stressed, AMCON will recover as much debts as possible within its defined lifespan, which he said informed his advice for the adoption of ADR, being “part of the mechanism put in place to resolve asset management related disputes in our courts.”
The CJN insisted that it is in the interest of Nigeria that AMCON succeeds in its assignment, adding that: “Certainly, judicial time and capacity are scarce public resources; as such repeated delays constitute waste of these precious resources.

“A better understanding of the current trends in this area of the law will go a long way in curbing delays and waste of judicial time and resources, thereby helping AMCON in fulfilling its mandate. The judiciary will continue to do its best to ensure judges remain conversant with the AMCON regime towards engendering efficiency, uniformity and improvement in the quality of judicial services in our courts,” he assured.
Stretching the CJN’s argument further, Justice Bulkachuwa expressed appreciation for the interaction, which she said is key to fast-tracking the debt recovery activities of AMCON and the eventual industrialisation of the Nigerian economy.

She congratulated the participants, just as she agreed on the need to consider leverage the ADR infrastructure which the CJN has consistently encouraged in view of “the delays in adjudication caused by the density of cases in the dockets of the trial and appellate courts.”
She further explained that, the “Appellate courts trust that this form of interactions holds the key to fast tracking debt recovery by AMCON and the eventual industrialization of the Nigerian economy. The judiciary has been playing its constitutional role through dynamic and proactive but fair and objective interpretation and enforcement of the AMCON Act by expeditious determination of AMCON cases and the enactment of AMCON Practice Directions both at the Federal High Court and the court of Appeal as well as the Supreme Court.”
The CJN, she continued, is considering an exclusive Practice Direction for AMCON at the Supreme Court and has indeed “advised AMCON lawyers to adopt the fast track window for all AMCON appeals at the Supreme Court.

“In the court of Appeal, I have since issued a circular directing the expeditious disposition of all AMCON appeals and I am aware that the circular is being effectively implemented,” Bulkachuwa affirmed.
Justice Bulkachuwa described AMCON’s assignment as difficult and challenging and called for a continuous review and interaction with all relevant stakeholders, especially the judiciary until AMCON recovers its humongous outstanding debt.

Photo Caption: Chief Justice of Nigeria, Walter Onnoghen (sitting 5th left); President Court of Appeal, Justice Zainab Bulkachuwa (sitting 4th left); Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON) Ahmed Lawan Kuru (sitting 4th right), others justices of the Supreme Court and Court of Appeal at the conference for Judicial Officers, held at National Judicial Institute (NJI), Abuja.

https://investdata.com.ng/2018/10/n5-4tr-debt-adopt-adr-to-resolve-3000-law-suits-cjn-appeal-court-boss-urge-amcon/#more

With Party Primaries Over, Investors Await Economic Blueprints From Contenders

Market Update for the week ended October 5 and Outlook for October 8-12

The nation’s equity market, again succumbed to recent short-term profit booking last week, amidst continued selloffs as political party primaries hot up across the country. This followed the October 7 deadline given by the Independent National Electoral Commission (INEC) for selection of flag-bearers in the 2019 general elections, halting the two-week gains that were driven by low price attraction and bargain hunters’ activities.
Stocks suffered losses Tuesday when trading opened after the public holiday on Monday to mark the nation’s 58Th independence anniversary. The negative close in the NSE All-Share Index declined throughout the week, as investors continued to show concerns over the slow economic recovery.

The CBN’s Economic Report for August shows robust revenue growth, even while it pales into insignificance, when compared to budget projections for the year, which poses a strong challenge for budget funding. Meanwhile, crude oil at the international market has continues to sell at almost $35 per barrel above the 2018 budget benchmark price of $51.
The continued pressure and negative sentiment on emerging and frontier markets are likely to persist with global yields moving higher as the U.S hikes interest rate, thereby boosting its 10-year treasury yield, leaving it at seven-year high of 3.20% on the back of stronger dollar and economy that could lead to higher inflation.

Back home, the negative performance in the first week of the 2018 last quarter further reveals the undervalued nature of the market, with its current Price/Earnings ratio at 9.3x, which is low relative to it peers in Africa and other emerging markets. It also reveals the strong earnings power of many companies listed on the Nigerian bourse.
Sentiment report for the week, showed ‘sell’ volume of 89%, leaving ‘Buy’ position at 11%, while volume index of total transaction stood at 0.44. The high selling pressure was due to profit taking and resume selloff for safety.
The momentum behind the week’s performance remained weak, amidst the low volume traded, despite the slight improvement in liquidity entering the market as reflected in the money flow index at 19.68 points from previous week’s 18.24points.
During the week also, the first Q3 earnings report was released by Infinity Trust Mortgage Bank, alongside PZ that made its Q1 numbers available to the market.

Equity Indicators Last Week
The composite index kicked off the new month and quarter on a negative note to reverse the previous two weeks gains as it lost 383.22 basis points to closed at 32,383.15bps from an opening figure of 32,76.37bps, which represented a 1.17% decline on a low traded volume, compared to prior week. Market capitalisation fell by 1.17%, closing at N11.82tr, from the previous N11.96tr, due to losses suffered by bellwether stocks that witnessed profit taking and selloff during the period under review.

During the period, low and medium cap stocks dominated the advancers table as bargain hunters took advantage of the prevailing low price regime to position ahead of their quarterly earnings that had kicked off with Infinity Trust Mortgage numbers that were released within the week under review.
Meanwhile, the NSEASI’s year-to-date negative returns worsened further to 15.32%, just as market capitalisation yielded negative returns of N1.86 trillion, or 13.23% below the year’s opening value.

Bearish Market Breadth
Market breadth remained negative as decliners outweighed advancers in the ratio of 32:27, amidst profit booking and positioning among all classes of stocks.
The market recorded four trading sessions of down markets during the week. The index started the week on a negative note, losing 0.47%, which was sustained till Friday and resulted to1.17% loss for the week, to reverse the previous week gain.
All sectoral indexes for the period closed lower, except for NSEOil/Gas that moved 1.13% higher; while the NSE AseM index ended flat.
Market activities for the period were down in volume and value by 30.85% and 44.75% respectively to 639.32m shares worth N7.84bn.
The best performing stocks for the week were Cutix and Forte Oilt that topped the gainers chart after chalking 15.57% and 10.22% respectively, to close at N4.73 and N22.10 each, due to bonus of one for one and 20 kobo dividend. The worst performing were Niger Insurance and Law Union & Rock Insurance, which shed 18.92% and 15.38% respectively to close at N0.30 and N0.55 each on profit taking and market trend.

Market Outlook
We expect a mixed performance for the market in the new week, as the coast becomes clearer, following last week’s emergence of candidates for various offices after the party primaries have produced candidates for various elective offices. This is also the Q3 earnings reporting season, as well as discussions around the economic blueprints of the various contenders that would give direction into how the general election in 2019 will play out. However, we believe investors can take advantage of the current low prices of stocks with strong fundamentals in order to reap medium-to-long term benefits. Stage by stage buying is advised as the expect inflation figure for September in the new week.
There could be repositioning on the strength of earnings in the midst of unfolding events in the political environment. Investors should review their positions in line with their investment goals and take action as events unfolds in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value, ahead of end of quarter which will ushered in another earnings season, ahead of Q3 interim dividend paying equities in October/ November due to the auditing process of their financials for Q3.
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

Attention! Attention!! Attention!!!
Investdata Consulting Ltd presents the 8th edition of its TRADERS & INVESTORS SUCCESS SUMMIT tagged: INVEST 2019, designed to be the biggest yearly workshop for stock market traders &investors in Nigeria.
Theme: Adopting The Billionaire’s Mentality In Stock Selection.
Venue: Ostra Hotel & Hall, Alausa, Opposite NNPC Gas-Plant Ikeja Lagos.
Date: Saturday, December 8, 2018.
Time: 10a.m.

The huge decline in stocks from its January 2018 peak has not necessarily been due to the fundamentals of quoted companies, but investors flight for safety over uncertainties arising from next year’s general elections, participants will learn from experts/facilitators at the workshop, how and where to position for juiciest returns, depending on investment horizon.
Previous editions have attracted participants from diverse class of investors and traders, as well as several world-class professionals and experts as speakers and facilitators, including representatives of quoted companies and stock broking firms. The event has helped market players to effectively time opportunities for higher returns in the New Year.
In today’s equity market, there is wisdom in being able to identify ‘buy’ opportunities very early and sell for maximum returns, while minimizing loss in any market situation. Understanding the dynamics of the stock market during any cycle is the very key to successful trading and investing. For this to happen, we must arm ourselves with knowing the essential driving forces behind the market as they move up and down.
At the INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT (TISS) you will discover some seldom considered aspects of investing and trading that can help you bag more big winners, while ratcheting down the number of losers in 2019 and beyond.
This summit will provide answers to these six crucial questions AND others

• What exactly is it we are trying to do as traders & investors?
• What occurs every post-election year that we wish to take advantage of?
• What are the prevailing market moves and who are the dominant players?
• What is ‘smart money’ doing?
• Where should we look to enter the market or exit?
• Is it the same every day, season and year?

When you answer these important (and frequently overlooked) questions correctly, your trading/investing skills will launch into new levels.
For Registration kindly send YES or REG to 08028164085, 08032055467, and 08111811223 now for details.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2018/10/with-party-primaries-over-investors-await-economic-blueprints-from-contenders/#more

Nigeria’s CBN Gov Laments ‘Global Dimension’ Assumed By $8.1bn MTN Issue


Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Sunday lamented the globalization of its issue with subsidiary of telecommunication giant- MTN Nigeria over an alleged illegal repatriation of funds valued at $8.13bn.
Addressing newsmen in London, he said the clash with MTN had taken a “global dimension” that was unnecessary, expressing a desire to demonstrate to international investors how open the Nigerian market is.
He described the MTN matter as “isolated,” following which there was no reason “for anyone to lose any sleep.’’
“This is not a matter that should have blown so openly,’’ he said. “Nigeria is a country that happens to be very, very open.’’
He also hinted of a possible reduction in the sum MTN Group is accused of illegally sending abroad in breach of foreign-exchange regulations with the aid of four banks which have been fined N5.67bn.

Reuters and Bloomberg also quoted Emefiele as saying: “I don’t think it will be staying at $8.1 billion,” adding his staff is studying the documents and he hoped to make a decision on the matter in a “couple of weeks…
“I want to believe that the figures will reduce. Whether they will be dropped completely, I honestly cannot say at this time.”
This optimism is based on the receipt by the CBN of documents some two weeks ago from MTN and the banks involved in the case: Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank – and was in communications with all parties involved.
The new information, he believes, would help cut the size of the claim
“They will see they have been given a fair hearing,’’ Emefiele said. “More information has been provided and I’m very optimistic that matters are going to be resolved amicably.’’

“The central bank will be examining these, then it will be escalated up to my level,” he said, adding he expected to get the results in a couple of weeks.
While MTN sought an injunction last month in a bid to buy time and fight the claim, which wiped as much as 36% off its market value within two weeks, the CBN had asked the Federal High Court in Lagos to deny the request. It also said the telco should pay an interest of 15% per annum on the dividends until the matter is ruled upon, and then 10% until the whole sum is paid.
Emefiele said the MTN case was a one-off, and the CBN was not looking at transactions involving any other companies operating in Nigeria.
“We respect the sanctity of these companies,” he said, adding that the CBN would continue to intervene in the foreign exchange markets, adding that he believed in a stable exchange rate regime.
Emefiele said Nigeria’s current stance of monetary tightening would continue.

https://investdata.com.ng/2018/10/nigeria-cbn-gov-laments-global-dimension-of-mtn-issue/#more

Investdata Weekly Sentiment Report

NSEASI buy 11% sell 89% MFI 19.68
Access buy 20% sell 80% MFI 19.80
Afrprud buy 0% MFI 69.19
Aglev buy � volume index 0.75 MFI 7.00
Aiico buy 67% sell 33% MFI 64.82
Air service buy � volume index 1.15
MFI 62.70
Cadbury buy � MFI 16.99
Caverton buy 40% sell 60% MFI 45.71
CCNN buy � MFI 69.57
CIleasing buy 0% MFI 87.45
Conoil buy � MFI 8.50
Continsure buy 0% volume index 1.93 MFI 38.09
Cornest buy 0% volume index 2.63 MFI 25.64
Custodian buy � volume index 1.60 MFI 59.55
Cutix buy � volume index 1.54 MFI 61.31
Dangote Cement buy 0% MFI 22.68
Dangote flour buy � MFI 23.43
Dangote sugar buy � MFI 33.66
Diamond buy 67% sell 33% MFI 50.28
Eterna buy � MFI 82.67
ETI buy 0% MFI 21.87
Fbnh buy 0% MFI 47.83
Fcmb buy 8% sell 92% volume index 1.70 MFI 5.09
Fidelity buy 50% sell 50% volume index 0.96 MFI 51.03
Allum buy � MFI 87.40
Fmn buy � MFI 16.05
FO buy � volume index 0.80 MFI 35.22
Glaxo buy 10% volume index 2.94 MFI 59.61
GT buy 5% sell 95% MFI 45.15
Hony flour buy 20% sell 80% MFI 11.34
Jaiz buy 20% sell 80% MFI 44.23
Japaul buy � MFI 24.51
Lasaco buy 50% sell 50% MFI 19.11
Lawunion buy 0% volume index 1.64 MFI 59.02
Mben buy 0% MFI 44.64
Nascon buy 14% sell 86% volume index 5.22 MFI 26.31
Neimeth buy 0% volume index 1.02 MFI 51.78
Nem buy 91% sell 9% MFI 89.07
Nestle buy � volume index 0.84 MFI 46.18
Nigerins buy 33% sell 67% MFI 75.25
Oando buy � MFI 40.91
Okomu buy 0% MFI 36.04
Prestige buy � MFI 32.39
Red buy � MFI 1.92
Royalex buy 0% volume index 3.68 MFI 10.33
Sovereins buy 67% sell 33% MFI 39.68
Stanbic buy � MFI 10.30
Sterling buy � MFI 44.68
Transcorp buy 0% MFI 29.42
Uacn buy � MFI 55.24
Uba buy 0% MFI 25.97
Ubn buy 0% MFI 22.54
Ucap buy � MFI 22.86
Unilever buy 0% volume index 2.61 MFI 45.85
Uniondac buy � MFI 72.79
Unity buy � MFI 44.62
Wapic buy � MFI 32.21
Wema buy 0% MFI 22.91
Zenith buy 10% sell 90% MFI 43.75

https://investdataltd..com/2018/10/investdata-weekly-sentiment-report.html?m=1

No Shortcut: How to Prepare for a Bull Market

In a bull market, investors are more willing to take part in the (stock) market in order to gain profits. Investors who want to benefit from a bull market should buy early in order to take advantage of rising prices and sell them when they've reached their peak.

So, as an investor, I know that you might devised different strategies for get the best out of the bull. Some might be long-term or short-term.

But the question I want to ask you is where is your source of research, is it based on what I have been teaching at my different seminars or you just think there is a strategy you will adopt.

Sincerely, even the massive information I teach in my Seminar, some still become obsolete with time. It is like that because of different inevitable changes in government policies and fluctuations in consumer behavior which is beyond your control.

Hence, it is advisable that you keep on studying, attending seminars and follow every update in your stock community innercircle because it is through knowledge (information) that will help you prepare, enter the bull market and get the best out of it.

Happy Trading,
Ambrose Omordion
https://investdataltd..com/2018/10/no-shortcut-how-to-prepare-for-bull.html?m=1

Investdata Daily Sentiment Report

SEASI buy 66% sell 34% MFI 56.73
CIleasing buy 0% volume index 2.23 MFI 62.10
Diamond buy � MFI 33.96
Eterna buy � volume index 0.95 MFI 77.03
Fbnh buy 83% sell 17% MFI 62.14
Fcmb buy 0% volume index 2.44 MFI 25.01
Fidelity buy � volume index 0.79 MFI 70.27
GT buy 67% sell 33% volume index 1.12 MFI 76.65
Jaiz buy 0% volume index 0.974 MFI 77.87
Japaul buy � volume index 0.71 MFI 42.00
Lawunion buy � volume index 2.05 MFI 17.05
Neimeth buy � volume index 2.93 MFI 58.17
Nem buy � volume index 1.01 MFI 94.55
Oando buy 33% sell 67% MFI 70.63
Sterling buy � MFI 40.84
Transcorp buy 50% sell 50% MFI 65.95
Uba buy 0% MFI 83.47
Ucap buy 0% MFI 37.28
Wapco buy 0% volume index 0.86 MFI 27.11
Wema buy � MFI 39.28
Zenith buy 43% sell 57% MFI 73.10

https://investdataltd..com/2018/10/investdata-daily-sentiment-report_9.html

Are You Financially Independent?

Monday was a massive celebration day being Nigeria independent day. It is not only about celebration but an opportunity to spend quality time with your family.

However, if you are to look at it from a financial point of view, ask yourself are my financially independent? Or when will you be financially free.

In a simple term, when will your income be equal to your expenses? When will you have the freedom to live your true dream.

However, Financial independence is not just a mere wish or luck but a conscious and deliberate effort to take the necessary steps.

Hence, as a result, I have done a thorough research on the stock market and I really know what it takes to get the best return on investment and protect it when due.

Although, the current market is a bear market and it is not a new phenomenon because that is how it has always been in pre-election...

Happy Trading,
Ambrose Omordion
https://investdataltd..com/2018/10/are-you-financially-independent.html?m=1

BUY AND SELL SIGNAL

Hello Investors,

The, buy & sell signal for this week have been posted on the membership site for you. Pls click on the long link for this week download.

Furthermore, you need to login on the membership site before you can have access to it.

Kindly click on the below link now to login with your username and password

http://investdataonline.com/buy-sell-signal/

To Your Success
Investdata Consulting.

P.S. You need to act fast. You know time wait for now.

Indicators Close Green, On Improved Money-Flow Index On NGSE

Stock Exchange on Monday, as the All-Share index closed marginally positive on improved buying sentiments that halted the four consecutive sessions of loss, kick-starting the week as investors awaits Q3 numbers. The relatively peaceful process in party primaries that produced different presidential candidates have set the tone for next year’s general elections.

The composite index gapped higher in the morning and was sustained till midday and into the afternoon, hitting intraday resistance level at 32,476.28 basis points, from lows of 32,383.15bps. It could not, however, get through before pulling back marginally to close the session at 32,444.96bps on a low traded volume that revealed the wait-and-see posture of investors as they continue to digest market dynamics.

Meanwhile, trading activities continued in the week and month with mixed bias on downtrend and recovery, following which market players should focus on economic indices and fundamentals, as corporate earnings reveal the true state of the listed companies to guide their next move. This has become necessary, because governance, it does seem, has been abandoned on the altar of politics.

Worse still, the capital projects in the Appropriation Bills of 2015, 2016, 2017 and 2018 are yet to significantly reflect and impact the economy positively, as signals and mixed economic indices emanating from the Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) are pointing to another round of recession, unless urgent steps are taken to stimulate the economy by strengthening productivity.

Monday’s market technicals were positive and mixed, with buying pressure looking up on a positive market breadth, but low traded volume as revealed by Investdata’s Daily Sentiment Report, revealing a ‘buy’ volume of 66% and 34% ‘sell’ position. The volume index for the day’s total transactions was 0.58.
The momentum behind the day’s market performance remained up, as reflected in the money flow index at 56.73bps, from the previous day’s 51.54bps, indicating that funds are entering some stocks as bargain basement pricing attracts new positioning ahead of the earnings season and last quarter seasonality’s in the midst of low market liquidity.

Index and Market Cap
The benchmark index at the end of the session gained 61.81bps, at 32,444.96bps, after opening at 32,383.15bps, representing a 0.19% rise, just as market capitalization was up by N22.56bn to close at N11.84tr, from an opening value of N11.82tr, representing a 0.19% appreciation in value.

Attention: Investdata buy and sell signal setup is our premium advisory service. And we do like to invite you to join today, as we are beginning what I think will be a tremendous run for value stocks into the end of the year. It’s a great deal for the money. Just subscribe, and get immediate access to a WATCHLIST of stocks.

When you join, you’ll get immediate access to every recommendation–past, present and future–in the Signal Setup. And we will deliver the bigger picture and update every week, directly to you via email. We look forward to welcoming you onboard, and navigating together as we continue to invest alongside the smart money, institutional players and discerning investors.To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right.

Monday’s upturn was impacted by value gain in medium and high cap stocks like: Nigerian Breweries, Zenith Bank, Guaranty Trust Bank, FBNH, Stanbic IBTC, Conoil, UBN, Caverton and Honeywell, which impacted positively on Year-to-Date negative returns to contract 15.16%, while market capitalization lost N1.79 trillion, representing 12.97% slide from the opening value.
Bullish Sector Performance

The sectorial performance for the session was bullish, led by NSE Insurance and NSE Banking index with 0.77% and 0.42% respectively. Market breadth was positive as advancers outnumbered decliners in the ratio of 16:11, to short-lived bearish transition.
Market activities in volume and value were however down by 27.8% and 9.89% respectively to 120.82m shares worth N1.34bn, from previous day’s 166.65m units valued at N1.49bn.

Transactions were boosted by trading in financial services stocks like: Guaranty Trust Bank, FCMB, NEM, Fidelity Bank and Zenith Bank.
The best performing stocks for the day were Unity Bank and Neimeth that topped the advancers’ table, gaining 9.09%and 8.47% respectively to close at N0.96 and N0.64 per share, as a result of market forces. On the flip side, John Holt and Guinea Insurance lost 9.43% and 9.38% respectively, closing at N0.48 and N0.29 each on market forces.



Market Outlook
As the journey into 2019 elections enters top gear, expect increased activities of bargain hunters in the midst of volatility and profit taking ahead for the Q3 earnings reporting season that kicks off soon. Also, the September inflation data is being expected. Investdata projects that it could be in the region of 11.49%, despite the political risk, with the electioneering spending beginning.

Investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space, while analysing the actual numbers that will give insights into expectations for Q3 GDP and full year companies earnings power that are likely to drive prices and determine themarket before or after February election.
Investors should review their positions in line with investment goals, strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value,
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company, economic and market fundamental.

https://investdata.com.ng/2018/10/indicators-close-green-on-improved-money-flow-index-on-ngse/

Investdata Daily Sentiment Report

NSEASI buy 58% sell 42% volume index 1.63 MFI 45.47
Access buy 0% MFI 72.03
Dangote Cement buy � MFI 12.15
Diamond buy 0% MFI 32.24
ETI buy � MFI 20.92
Fbnh buy 75% sell 25% volume index 0.84 MFI 61.79
Fcmb buy 0% volume index 2.75 MFI 23.78
Fidelity buy 0% volume index 1.11 MFI 65.02
Allum buy 0% volume index 1.35 MFI 92.20
Fmn buy 0% volume index 1.65 MFI 52.01
GT buy 59% sell 50% MFI 80.08
Japaul buy � volume index 0.71 MFI 51.79
Nem buy � MFI 93.04
Oando buy 50% sell 50% MFI 71.02
Regalins buy � volume index 0.84 MFI 41.92
Sovereins buy � MFI 57.45
Sterling buy � MFI 40.84
Transcorp buy � MFI 61.66
Uba buy � MFI 83.17
Wapic buy 0% volume index 0.71 MFI 78.17
Wema buy � MFI 25.93
Zenith buy 60% sell 40% MFI 72.16

https://investdataltd..com/2018/10/investdata-daily-sentiment-report_10.html

Investors Begin Portfolio Rebalancing On NGSE, Ahead Of Q3 Score-Cards

Market Update for October 9, 2018

The Nigerian stock market on Tuesday continued its volatility as profit booking and bargain hunting inter-played, forcing the benchmark indicators to close marginally lower on mixed sentiments and high traded volume, when compared to the previous day’s transaction.

As the investing public looks to the influx of quarterly earnings reports any moment from now, more companies during the session notified the market of their board meetings and closed periods as they are set to release their scorecards for the nine-month ended September 30, 2018.
Due to the importance of this account and the prevailing market dynamics in the midst of the lingering political risks, as well as continued downgrade of the nation’s economic outlook by the International Monetary Fund (IMF). This is due to the dwindling economic activities and mixed indices released so far by economic managers and the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN).

Traders that understand the importance of the Q3 numbers and market reaction to earnings surprises are already positioning ahead, while medium and long-term players are waiting to see the true state of these listed companies before jumping in. This is because market reactions to earnings so far this year have been weak, due to low liquidity and confidence.
The NSE index opened for the day on the upside in the morning into mid-morning before pulling back by the afternoon, after hitting intraday highs of 32,477.47 basis points (which now seem the new resistance level), from lows of 32,336.24bps, before retracing up in the last few minutes, when the day closed at 32,417.7bps.

Market technicals for the day were weak and mixed, just as sentiments, with market breadth favoring the bears, on ahigh traded volume as revealed by Investdata’s Daily Sentiment Report, showing a ‘buy’ position of 58% and 42% ‘sell’ volume. The volume index for the day’s total transactions was 1.61.
Energy behind the day’s market performance was weaken as profit taking in blue chip stocks reflected in the money flow index at 45.47bps, from the previous day’s 56.73bps, indicating that funds left some stocks to make entry points more attractive new positioning ahead of the earnings season and last quarter seasonality in the midst of low market liquidity.

Index and Market Cap
The All Share index closed the session trading at 32,417.706bps, after shedding 27.26bps from 32,444.79bps, representing a 0.08% decline, just as market capitalization dropped by N9.95bn to N11.83tr, from an opening value of N11.84tr, representing a 0.08% value loss.

Attention: Investdata buy and sell signal setup is our premium advisory service. And we do like to invite you to join today, as we are beginning what I think will be a tremendous run for value stocks into the end of the year. It’s a great deal for the money. Just subscribe, and get immediate access to a WATCHLIST of stocks. When you join, you’ll get immediate access to every recommendation–past, present and future–in the Signal Setup. And we will deliver the bigger picture and update every week, directly to you via email. We look forward to welcoming you on board, and navigating together as we continue to invest alongside the smart money, institutional players and discerning investors.To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right.

The day downturn was due losses suffered by: Nigerian Breweries, Unilever, Flourmills, Oando, Access Bank, Transcorp and Diamond Bank, which impacted on the Year-to-Date negative returns, as it contract to 15.23%, while market capitalization lost N1.8tr, representing 13.06% slide from the opening value.

Mixed Sector Performance
The sectorial performance for the day was largely bearish, except for NSE Banking and Industrial goods that closed 0.64% and 0.12% green respectively. Market breadth was almost flat as decliners outnumbered advancers in the ratio of21:20, to reverse Monday’s gain.
Market activities in volume and value were however up by 189.62% and 9.36% respectively, at 349.53m shares worth N1.46bn, from previous day’s 120.82m units valued at N1.34bn.

Transactions were boosted by trading in financial services stocks like: Royal Exchange Assurance, FCMB, Guaranty Trust Bank, Fidelity Bank and Zenith Bank.
Cornerstone Insurance and Cadbury were the best performing stocks for the session that topped the advancers’ table, with 10%and 6.74% gains respectively, closing at N0.20 and N10.30 per share, as a result of market forces. On the flip side, UnionDiagnostic andFirst Aluminum lost 9.68% and 9.52% respectively, closing at N0.28 and N0.38 each on market profittaking.

Market Outlook
As more closed period notification hit the market ahead of actual results, expect increased activities of bargain hunters in the midst of volatility and profit taking ahead for the Q3 earnings reporting season that kicks off soon. Also, the September inflation data is being expected. Investdata projects that it could be in the region of 11.49%, despite the political risk, with electioneering activities beginning.

Investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space, while analysing the actual numbers that will give insights into expectations for Q3 GDP and full year companies earnings power that are likely to drive prices and determine themarket before or after February election.

Investors should review their positions in line with investment goals, strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value,
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company, economic and market fundamental.

https://investdata.com.ng/2018/10/investors-begin-portfolio-rebalancing-on-ngse-ahead-of-q3-score-cards/

Investdata Daily Sentiment Report

NSEASI buy 0% MFI 44.37
Cap buy � volume index 8.45 MFI 93.35
Caverton buy � volume index 0.78 MFI 18.96
Dangote cement buy 0% volume index 1.28 MFI 47.49
Dangote flour buy 20% sell 80% volume index 2.80 MFI 68.79
Diamond buy � MFI 34.97
Fbnh buy 33% sell 67% volume index 1.98 MFI 55.23
Fcmb buy 0% volume index 1.81 MFI 20.17
Fidelity buy 67% sell 33% volume index 1.62 MFI 70.04
Fmn buy � volume index 7.55 MFI 70.36
GT buy 67% sell 33% MFI 76.27
Jaiz buy � MFI 81.77
Japaul buy 0% MFI 44.64
Mben buy � MFI 79.41
Mobil buy � volume index 2.23 MFI 0.00
Oando buy 0% MFI 37.39
Transcorp buy 0% volume index 0.78 MFI 59.98
Uacn buy � volume index 0.72 MFI 83.72
Uba buy � MFI 85.68
Uniondac buy � volume index 2.18 MFI 35.00
Wema buy � volume index 1.20 MFI 33.87
Zenith buy 0% MFI 70.31

https://investdataltd..com/2018/10/investdata-daily-sentiment-report_11.html

Bargain Hunting Intensifies, Amidst Volatility, Profit Taking For Q3 Earnings Season

Market Update for October 10, 2018

Trading on the Nigeria Stock Exchange on Wednesday continued in its bearish and volatile mode, resulting in two sessions of back-to-back losses on a highly negative sentiment and low traded volume. The index closed lower, arising from selloffs in highly capitalized stocks amidst persistent profit taking ahead of the Q3 earnings season which is likely to change the prevailing direction. That will however depend on if such numbers beat market expectations.

The continued decline in the market after various attempts at recovery towards the end of September is evidence that the Nigerian bourse is in search of a trigger in the form of positive earning to influence share prices.
Mid-week’s NSE index opened with a gap up, running up to resistance, pulled back, formed a wedge in the midday and early afternoon, after touching intraday low of 32,382.58 basis points, from a high of 32,466.23bps. It then reached the session’s lows with barely minutes to the end of session.

The ongoing portfolio rebalancing in the face of profit taking and selloffs make value stocks even more attractive as we go into the Q3 earnings reporting season, which has, so far, recorded mixed performance so far in the year. The Price to Earnings ratio for stocks remains low, in a high/accommodative interest rate environment, as the economy remains weak, with high and rising inflation.
Midweek’s market technicals were negative and mixed, on a high selling pressure, positive market breadth amidst a low traded volume as revealed by Investdata’s Daily Sentiment Report, showing a ‘sell’ volume of100%. The volume index for the day’s total transactions was 0.65.

The momentum behind the day’s market performance was strengthened despite the continued profit taking in the consumer goods and Oil/Gas sectors, as reflected in the money flow index at 49.26bps, from the previous day’s 45.47bps, indicating that fundsare enteringsome stocks to in the midst of low market liquidity.

Index and Market Cap

The NSE’s composite index at the end midweek, shed 35.12bps to close at 32,382.60bps, after opening at 32,417.76bps, representing a 0.11% decline, just as market capitalization fell N12.82bn to N11.82tr, from an opening value of N11.83tr, representing a 0.11% value depreciation also.

Attention: Investdata buy and sell signal setup is our premium advisory service. And we do like to invite you to join today, as we are beginning what I think will be a tremendous run for value stocks into the end of the year. It’s a great deal for the money. Just subscribe, and get immediate access to a WATCHLIST of stocks. When you join, you’ll get immediate access to every recommendation–past, present and future–in the Signal Setup. And we will deliver the bigger picture and update every week, directly to you via email. We look forward to welcoming you onboard, and navigating together as we continue to invest alongside the smart money, institutional players and discerning investors.To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right.

The day’s downturn was attributed to price depreciation in: Nigerian Breweries, Guaranty Trust Bank, UACN, FBNH, 11 Plc, Transcorp Hotel, Honeywell and Japual Oil, which impacted on the Year-to-Date negative returns, as it contract to 15.36%, while market capitalization lost N1.82tr, representing 13.18% drop, from the opening value.

Mixed Sector Performance
The sectorial performance for the session was largely bullish, except for NSE Consumer goods and Oil/Gas that were down. Market breadth was positive asadvancers outpaced decliners in the ratio of21:18, to continued two-daybearish transition.

Market activities were mixed as volume dropped by 61.62% from 349.53m units, to 134.57m shares, while value was up by 32.36% to N1.94bn, from previous day’s N1.46bn.
Transactions were boosted by trading in financial services and tech stocks like: FCMB, Fidelity Bank, FBNH, Chams and Guaranty Trust Bank.

CAP and Mutual Benefits Assurance were the best performing stocks, as they topped the advancers’ table with 10%and 7.64% gains respectively, closing at N33.00 and N0.28 per share, due to market forces. On the flip side, McNichol’s and Transcorp Hotel lost 9.72% and 9.63% respectively, closing at N0.65 and N6.10 each on market profit taking.

Market Outlook
Again, as more companies announce their closed period ahead of actual results, expect increased bargain hunting in the midst of volatility and profit taking ahead for the Q3 earnings reporting season that kicks off soon. Also, the September inflation data is being expected. Investdata projects that it could be in the region of 11.49%, despite the political risk, with electioneering activities beginning.

Investors are looking forward to Q3 earnings reports so as to rebalance their portfolios and watch the political space, while analysing the actual numbers that will give insights into expectations for Q3 GDP and full year companies earnings power that are likely to drive prices and determine the market before or after February election.
Investors should review their positions in line with investment goals, strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst mixed company, economic and market fundamental.


Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2018/10/bargain-hunting-intensifies-amidst-volatility-profit-taking-for-q3-earnings-season/