Investdata Daily Sentiment Report as at 29 May. 2019

NSEASI buy � volume index 1.18 MFI 53.79
Access buy 100% volume index 1.59 MFI 30.48
Afrprud buy 0% volume index 1.59 MFI 27.48
Caverton buy 0% MFI 55.82
Dangcem buy � volume index 4.47 MFI 71.27
Fbnh buy � volume index 3.28 MFI 42.00
Fcmb buy 75% sell 25% volume index 0.75 MFI 25.22
Fidelity buy 67% sell 33% volume index 1.40 MFI 40.01
Fmn buy 0% volume index 1.11 MFI 3.82
FO buy 60% sell 40% volume index 3.76 MFI 71.85
Jaiz buy � volume index 1.34 MFI 19.71
Nascon buy � volume index 1.78 MFI 37.59
Nestle buy � volume index 2.51 MFI 65.00
Oando buy � volume index 0.87 MFI 63.14
Transcorp buy 67% sell 33% MFI 78.93
Uacn buy � MFI 71.84
Uba buy � volume index 0.95 MFI 26.97
Ubn buy � MFI 65.63
Ucap buy � volume index 2.84 MFI 40.29
Wema buy � MFI 15.38
Zenith buy � volume index 2.56 MFI 41.99

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_29.html

Market Update for the week ended May 24 and Outlook for May 27-31

Trading activities on the Nigerian Stock Exchange, on Friday, May 24, closed lower for the first time since Thursday, May 16, 2019. That day’s loss was evidently not enough to result in a weekly loss for the bourse, as the composite NSE All-Share index closed positive for the second consecutive week on mixed sentiments and high traded volume.

The week’s gain was once again driven by Dangote Cement and MTN Nigeria, the NSE two biggest stocks by market capitalization, as they appreciated in value, especially newly listed MTN Nigeria, which rallied for six straight trading sessions, before slowing down on profit booking. This was also due to investors revaluing the stock at the current market price.
Across the market and sectors, premium index and industrial goods sector led with 14.09% and 6.12% gains respectively, following cross deals and high demand for MTNN, and the positioning by investors for the final dividend proposed by Dangote Cement.

Last week also, the Central Bank of Nigeria (CBN), on Monday and Tuesday, held the last its Monetary Policy Committee (MPC) meeting in the first tenure of Godwin Emefiele as governor, and it was very obvious that members were unhappy with the behavioural pattern and growth of the economy. They agreed that stable and realistic economic growth can only be achieved by stimulating productivity driven by the private sector with an enabling business environment. This is why the committee is looking at the possibility of compelling banks to increase private sector lending to drive expansion or risk a ban from participating in the juicy government securities market.
During the week also, the National Bureau of Statistics (NBS) published the much awaited 2019Q1 GDP report, showing that Nigeria’s economy grew by a slower 2.01% than the 2.38% reported year-on-year in 2018Q4.
Also, the global stock markets had a mixed performance, reflecting the worsening trade dispute between the U.S and China, the world’s biggest economies, in the midst of Brexit negotiations that last week consumed Prime Minister Theresa May. Mrs. May has announced her intention to resign her office, further heightening apprehension by investors.

Movement Of NSEASI
Back home, the week’s trading opened on a positive note as the NSEASI gained 1.7% on Monday on strong buying interest for MTN Nigeria, which was sustained into Tuesday when the index closed further up by 2.90% due to bargain hunting and competition between MTN and Dangote Cement for investor interests. The Bull Run was extended to midweek and Thursday as the market gained 3.07% and 1.07% respectively on increased demand for Dangote Cement, Nestle and Guaranty Trust Bank stocks, before pulling back on Friday, when it shed 1.88%. This was due to profit taking and the return of sanity to the market, bringing the week’s total gain to 6.86%, compared to the previous week’s positive position of 0.08%. Last week’s gain reduced year-to-date loss to 1.75%, just as the negative market breadth within the period offers buying opportunities for traders and investors. Trading enters the last week of the month and is expected to usher in the March year-end earnings reporting period and the swearing-in of President Muhammadu Buhari for his second term in office.
High and low cap stocks dominated the advancers table as selling pressure continued on blue-chip stocks and others, while there were price adjustments for dividend proposed by Cadbury and UACN.

The momentum behind the week’s performance was weak, notwithstanding of the seeming bull-run in the period under review, as shown by the 11.78 basis points money flow index, compared to 16.58bps in the previous week. This indicates that funds are still leaving the market, even as bargain hunting for MTN Nigeria, Dangote Cement and Nestle have sparked positive sentiment. Buying sentiment remained mixed, with buy position at 66% and sell volume, 34% on a transaction volume index of 1.08.

NSEASI Weekly Time Frame
The strong buying sentiment for trillion cap stocks, despite the weak money flow index, continued its rebound last week after 17 months of decline with various attempts to rebound, after touching a strong support level of 28,019.98bps after trading on the lower Bollinger band. The index is currently trading above its 20Day Moving Average, after touching the 200-Day Moving Average.
The current chart pattern on the index supports reversal as it is trading on top of its 20-DMA within Bollinger band, while RSI is reading oversold at 48.16. Money flow at 11.78 points is weak, not minding the upbeat recorded within the week, driven by economic data, the outcome of MPC meeting and bargain hunting for MTN Nigeria, Dangote Cement, Nestle, and GTBank.

Mixed Sectoral Indices
The sector performance indices were largely bearish, except for NSE Industrial goods and Insurance that closed higher by 6.12% and 1.185% respectively, while the NSE Consumer Goods led the decliners by 2.98%; followed by NSE Banking with 1.82%, just as the Oil/Gas index that closed lower by 0.65%. This reflected the mixed sentiment in the market, at a time market breadth remained negative with decliners outnumbering advancers in the ratio of 40:30, to continue the bullish transition.
Transaction activities in terms of volume and value were up 44.95% and 223.67% respectively, to 1.7bn shares worth N57.9bn, as against the previous week’s 1.17bn units valued at N17.89bn.
The best-performing stocks for the period were Thomas Wyatt and MTN Nigeria, topping the advancers’ chart with 29.39% and 28.56% gains respectively, to close at N0.40 and N140.00 per share on market forces and sentiment respectively. On the other hand, Consolidated Hallmark Insurance and Sterling Bank lost 20.69% and 17.20% respectively, closing at N0.23 and N2.07, on profit-taking.

Market Outlook
We expect mixed performance as MTN Nigeria’s influence slows down, even as it the company’s management admitted Saturday that the process of listing its shares is under scrutiny the country’s Economic & Financial Crimes Commission (EFCC), a situation that may dampen investor confidence. There is also the likely end of month trading account balancing in the midst of portfolio repositioning in expectation March year-end earnings reports.
Profit taking may persist in highly capitalized stocks due to portfolio restructuring. Hence, overall market performance to remained mixed amidst positive sentiments and negative breadth.

Market players should maintain a cautious outlook due to low confidence and liquidity, waiting for major economic triggers. Hence, we advise investors to trade cautiously in the short-term, with their gaze fixed on blue-chip stocks that are selling more than 40% below their 52 weeks high. As we look out for a positive catalyst to drive market recovery.
That notwithstanding, we would not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With the prices of major blue chips continuing to drop in recent weeks, we expect speculative trading to shape the market’s direction this week, despite the seeming negative outlook.

The sustained volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on the political space and post-inauguration market dynamics. Investors should review their positions in line with their investment goals, the 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 and allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

https://investdata.com.ng/2019/05/profit-taking-may-persist-in-high-cap-stocks-amidst-portfolio-restructuring-march-end-accounts/

Shareholders Task Nestle Nigeria On Bonus, N5.8bn Unclaimed Dividend

Shareholders of food, beverages and confectioneries giant- Nestle Nigeria, on Tuesday, reminded the board of the need to expedite action on a bonus issue that would enhance trading of its shares on the Nigerian Stock Exchange (NSE), leading to further price discovery.
Speaking at the 50th annual general meeting of the company in Lagos, the shareholders recalled that they have been clamoring for the share split for the past eight years, adding that there is no better time for such than now when the company celebrates 40 years since it was first listed on the NSE.

Nona Awoh, a shareholder, for example, argued that given the size of Nestle Nigeria’s paid-up capital, reserve, and revenue, among others, a bonus issue will not be out of place.
Of the 792,656,352 million shares paid-up capital of Nestle Nigeria, according to its latest audited financials, 524,559,457 units, or 66.18% are held by the parent company- Nestle S.A. Switzerland, while 268,096,793 units, representing 33.82%, are held by the minority shareholders, including the 8.37% by Stanbic IBTC Nominees.

That, according to Awoh, means the minority shareholders are the ones who “trade the shares and make the price,” hence the need to make more units available to enhance its liquidity.
Supporting the argument, Boniface Okezie, another shareholder regretted that it has taken so long for the majority owners to consider the clamor of the minority shareholders for a bonus issue.
While appreciating management for the N58.50 total dividend payout per share, he called for a one-for-one bonus issue, just as he spoke of the need to further domesticate the company by empowering the farmers to produce more to increase the local raw materials, thereby conserving foreign exchange.

Also, Sir Sunny Nwosu, national coordinator emeritus of the Independent Shareholders Association of Nigeria (ISAN), expressed satisfaction with the dividend payout but wanted assurance that after paying out every of its net profit for the year under review, the management of Nestle has funds for its operations and research.
Awoh appreciated the fact that the 2018 full-year N43.008bn net profit is its biggest so far, from the previous year’s N33.723bn, helped by the significant drop in finance cost, among others. He challenged the management to raise its export earnings, thereby balancing import and exports.

The fact that the company imported goods and raw materials worth N77.8bn in the year under review and exported goods worth just N3.5bn is not good enough urging the board to formulate a policy in this regard.
Besides urging the parent company to consider one board seat for a representative of Nigerian minority shareholder, Awoh was also unhappy with the huge N5.8bn unclaimed dividend in the books of Nestle Nigeria, calling for a collaboration with the Securities & Exchange Commission (SEC) to significantly crash the number.

“We can’t continue like this… We can’t continue to allow this happen… How much did we (the company) earn from the money?”
Continuing, he challenged the board to “help promote and Nigerians the office of the chief executive (of Nestle Nigeria). The last Nigerian that occupied the office was Chief Olusegun Osunkeye between June 1988 and June 1999, when he became chairman of the board.
For him, “you can’t have all of the plum jobs on the management… Nigerians must be a proper player in the coalition.”
On his part, Chief Timothy Adesiyan, former chairman of the Nigeria Shareholders Solidarity Association, appreciated the 28% growth in net profit but challenged the proposition by the SEC that companies would stop sharing corporate gifts at their AGMs, a move many shareholders who spoke at the meeting described as insensitive.
The sign of dissatisfaction was shown very early in the course of the meeting, while the SEC representatives were being introduced, with shareholders booing them.

Explaining, Nwosu explained that the SEC representatives were booed for the decision of the commission to interfere in matters that are not altogether the biggest problem of the nation’s capital market today.
He believes that dialogue with stakeholders should have come before the move.
On her part, Mrs. Bisi Bakare, another shareholder was unhappy about the significant increase in executive and board compensation by the company.

Speaking later, the chairman, David Ifezulike, said the issue of bonus issue will continue to be a review, even as he noted the need to balance the interest of both the majority and minority shareholders.
Nestle Nigeria, he said, has continued to do well, despite the country’s difficult operating environment arising from the huge infrastructure deficit, assuring has invested heavily in backward integration, following which there are some of its products with 100% local raw materials

https://investdata.com.ng/2019/05/shareholders-task-nestle-nigeria-on-bonus-n5-8bn-unclaimed-dividend/

Union Bank Seeks Shareholders Approval To Reorganise Share Capital


Shareholders of Union Bank of Nigeria Plc will meet on Tuesday, June 11, 2019, at an extraordinary general meeting where the board seeks approval for capital reduction and share capital reorganization.
The plan is part of efforts by the directors to free the company of all encumbrances that has prevented it from paying its shareholders dividends from its future profits.

Specifically, the board seeks to clean up its balance sheet by writing off Union Bank’s established accumulated loss of N54.458bn in its profit and loss account arising from legacy transactions, in addition to the N247.868bn approved by shareholders in 2017.
The N54.458bn losses will, subject to shareholders’ consideration and approval at the EGM, be written off the bank’s N187.091bn share premium account, reducing it at N132.633bnwhile leaving the aggregate shareholders’ funds unchanged.

According to an explanatory note on the capital reduction, “it would have no impact on the bank’s creditors but rather, pave the way for the bank’s investors to receive dividends out of the bank’s future profit.”
The retained deficit will, therefore, be cleaned out post-transaction, leaving N6.722bn earnings.
Also at the meeting, the directors will be asking for approval “to seek confirmation from the Federal High Court,” according to Somuyiwa Adedeji Sonubi, the company secretary.

https://investdata.com.ng/2019/06/union-bank-seeks-shareholders-approval-to-reorganise-share-capital/

Mixed Market, Amidst Possible Reversal As Investors Await New Cabinet, Budget Implementation

Market Update for the Week Ended June 7 and Outlook for June
It was three consecutive trading sessions of losses last week given the two-day public holiday declared to celebrate the Eid Mubarak, the end of the Islamic month of Ramadan when Muslims fast, pray and give arms.
This halted three consecutive weeks of bull transition that was driven by positive sentiments for heavyweight stocks like MTN Nigeria which was recently listed, while Dangote Cement appreciated, as investors positioned for its dividend payout. That of Nestle Nigeria rallied on the back of market forces.

The week also witnessed a return of liquidity hiccups after the market saw funds inflow with the MTN Nigeria listing. The dwindling investor confidence may not be unconnected with the face-off between the Securities Exchange Commission (SEC) and energy giant- Oando Plc, as investors wait to see how things play out. We will not also rule out the effects of the two court rulings that Mounir Gwarzo, suspended Director-General of the SEC, which are being appealed by the Independent Corrupt Practices Commission (ICPC).
Meanwhile, we see a seeming artificial price movement in the shares of Oando Plc, as if to show that all is well. Investors are unhappy that the company has shortchanged them for many years when it failed to pay a dividend while jerking executive pay. This is however not forgetting the effects of price adjustments in Dangote Cement, Forte Oil, Dangote Sugar, Julius Berger, BOC Gas, NEM Insurance, Law Union Insurance, and The Initiates, owing to the dividends declared by their directors during the period under review.

The ongoing market selloff is also a reaction to the continued unclear government economic policies, in addition, there is a gloomy global economic outlook as the trade dispute between the U.S and China takes another dimension, which the International Monetary Fund (IMF) warns could cut a sizeable chunk off the global economy (READ MORE). There are also uncertainties in the Eurozone ranging from Brexit in the UK to the election in France. All of these have resulted in the World Bank and the IMF downgrading the global economic growth potentials.

Movement Of NSEASI
NSE Index opened for the week on a negative note, a situation that was extended into the last two trading sessions of the period after two days holidays, bringing the week’s total loss to 2.1% at 30,432.13 basis points after opening at 31,069.37bps, just as market worth followed suit as investors lost N281bn, closing at N13.4tr. This impacted the year-to-date loss position, driving it up to 3.18% despite the low traded volume for the period.

The benchmark index has been on the downtrend since 2018 but seemingly rebounded recently, indicating that smart money is returning to the market especially after the listing of MTN Nigeria by introduction, before pulling back in the last five trading sessions. The market situation may be mixed, but the possibility of reversal is high this week, given that the benchmark NSE All-Share index touched an intraweek low of 30,136.14bps from a high of 31,100bps before retracing up to close the three sessions at 30,432.13bps. Note that the NSEASI is currently trading below its 50 and 100-Day Moving Average, with a possibility of touching the next strong support level of 28.020.13bps, is high as it moves to form a double bottom pattern that will support strong rebound.
The current chart pattern on the index remains neutral, trading on top of the mid-line of the Bollinger band, with RSI reading oversold at 45.54 and Money flow at 17.81 points is weak.

Bearish Sectoral Indices
All sectoral indices closed red, led by the NSE Oil/Gas, which lost 5.15%, followed by Insurance with 4.02%; while Industrial goods, banking and consumer goods that closed at 2.89%, 1.28% and 1.21% lower respectively. This is a reflection of profit taking among market players, even as market breadth remained negative, with decliners outnumbering advancers in the ratio of 44:15, to halt the three-week up-market.
Market transaction in terms of volume and value were down to 768.98m shares worth N12.54bn, compared to the previous week’s 1.08bn units valued at N18.11bn.

The best-performing stocks for the week were Champion Brewery and Academy Press that topped the advancers’ chart with 18.81% and 8% gains respectively, closing at N1.20 and N0.27 per share on market forces respectively. On the other hand, NEM Insurance and Capital Oil lost 13.14% and 13.04% respectively, closing at N2.05 and N0.20, on dividend markdown and market forces.

The Federal Government is delaying the announcement of a new cabinet and assignment of portfolios. This a clear cause for worry, given the challenge this may pose to policy formulation and execution necessary to enable the country to respond to global shocks from the above. We know that economic recovery of this nation is tied to the government’s policy and implementation as the market looks to policies and programs that will drive productivity in the real sector, in order to intensity economic diversification and reduce dependence on crude oil earnings.
Also, we expect mixed economic data, as the 2019 budget, which has been approved by the National Assembly and signed into law is awaiting the cabinet for implementation in the remaining part of the year.

Also, the Consumer Price Index for May is likely to hit 11.40% based on current realities, just as Q2 GDP is expected to slow down further, while labor market numbers may increase with the unemployment rate remaining on the high side.
The market may experience low primary market activities even when many companies want to realign their balance sheets, while others are considering fresh capital by way of right issues due to the prevailing low confidence and liquidity as players trading with caution.
Reasons for this are not far-fetched, given what happened to the market and economy in 2015 and 2016 after the government delayed the cabinet appointments and putting in place an economic management team, leading to a recession. This was because there were no deliberate efforts at economic coordination and direction to steer the economy away from what eventually occurred. Once again, tell-tale signs are here already: the oscillating oil price, slow expansion of Purchasing Managers’ Index for the month of May at 57.8 points from April position of 57.7 points, just as April inflation rose to 11.37% in the midst of stagnated economic growth. There is also another noticeable delay by the fiscal authorities to jumpstart this economy again.

With the expected March year-end earnings reports coming this June to usher in Q2 corporate numbers in the first month of the second half of the year, when companies with interim dividend policy will expectedly release their results and reward their shareholders for the period.
Ahead of the corporate earnings and the announcement of a new cabinet byPresident Muhammadu Bahari, discerning investors should capitalize on the prevailing low valuations to reposition their portfolios by buying in stages. At the same time, the should consider averaging down their costs if already in good fundamentally sound stocks with positive technical potentials to rally as the market rebounds and their full year or second-quarter earnings reports hit the market and beat expectations.

This expected company news and external positive stimulus should trigger ‘buy’ interests, while providing a guide for investors to know where to seek returns, depending on their investment horizon. This is especially true of Flour Mills, Honeywell Flour, RedStar Express, University Press, Academy Press, Northern Nigerian Flour Mills, NPF Microfinance, Conoil and Learn Africa are likely to release their full-year scorecards with the possibility of dividend payment.

Traders and investors who understand the importance of combining fundamentals and technical analysis in making investment decisions while trading or investing in the stock market should take this opportunity to position in some sectors for medium and long term returns. Investors should look especially to banking stocks with interim dividend policies, Industrial goods stocks that are selling at a discount, and service companies, which foreign investors prefer to play in, after a careful study of the recent numbers they made available to the market.

Expectations for June and July
• In this month, the strength of the corporate and economic numbers will determine the direction of equity prices, which are already low and awaiting a trigger.
• Expect few full-year earnings as named above to hit the market this June and more quarterly reports in July. These earnings from blue-chip companies may strengthen market fundamentals if liquidity strengthens.
• The ongoing oscillating trend of equity prices as a result of the repositioning of portfolios along the line of positive numbers and profit taking will continue. Also due to lack of direction, the second half of this year will come with mixed sentiments.
• Market outlook for June and July remains mixed as the market awaits economic policy and stimulus and faithful implementation of the 2019 budget despite the anticipated deficit position, even as the Central Bank of Nigeria (CBN)stands ready to sustain its intervention in the foreign exchange market, and to extend various credit facilities to more real sector operators, thereby boosting liquidity and creating more jobs. Also if the rate is further reduced marginally, it will enhance business activities in the second half of this year.
• The sustained low valuation in the market may trigger a high demand for stocks as the government rolls out its reform policies very soon. However, there is a need to invest wisely, using value, area of support and resistance, volume spike, when taking decisions as a trader.
• Managing risk and protecting capital at this point is very important, to enable you to determine when to buy or sell, by watching the stocks and the market, using technical tools. Look for investdata daily sentiment report.
• Let numbers released by the companies guide your decision and time to stay in that position


https://investdata.com.ng/2019/06/mixed-market-amidst-possible-reversal-as-investors-await-new-cabinet-budget-implementation/

THE LAWS OF FINANCE

There are 2 types of Laws of finance:
1} LAW OF POVERTY.
2} LAW OF WEALTH.


1} LAW OF POVERTY: This law states that work alone or work under someone and remain poor for the rest of your life. 95% of people in the world are living under this law. The people under this law make use of their credentials, they have an ego, they seek for a job, they have someone called boss, they receive a salary which is a fixed amount.

S.A.L.A.R.Y
S= Small
A= Amount
L= Limiting
A= And
R= Restricting
Y= You

These people are called the working class. They always look for a job.

J.O.B
J= Just
O= Over
B= Broke


2} LAW OF WEALTH: This law states that work with a team or group of people and remain wealthy forever, it is just 5% of people in the world that are living under this law. The people under this law make use of their potentials, and they are called the thinking class, they think of what to offer to the society and in turn, make money. These people earn their money which is income and it is not a fixed amount. These people are called the thinking class.


The difference between these laws is that the people under the LAW OF POVERTY don't make use of opportunity.. why those under the LAW OF WEALTH make use of any opportunity that comes their way. The wealthy ones make use of ID Number and also Partnership, they have what is called big dreams but the poor don't have.

REMEMBER this TODAY
��������

Money does not respond to qualifications
Otherwise, the wealthiest people should have been Ph.D. holders.

Money does not respond to age Otherwise the world's oldest twins would have been the richest.

‍ It is not about your degree
It is all about what you do after the degree.

‍Have you noticed that the 1st class degree holders are not the Richest
Neither is the 3rd class degree holders the poorest.
There is more to being wealthy than education.

The most important thing is Mindset � and the next thing is a Commitment to self DISCIPLINE.

The only person holding your key to success is YOU.

The secrets to success is for you to be willing to pay the price but the challenge is that very few are ready and willing to pay the price to succeed.

While some are partying and gisting, others are learning, planning and earning.

Don't sit down and complain about where you are, it won't change anything.

If you must see changes, the person that must change is You.

Be assured... YOU HAVE ALL IT TAKES TO Succeed, learn to invest the little you have and get a mentor to teach you how to grow your money.

Be Wise.......... _*��


https://investdataltd..com/2019/06/the-laws-of-finance.html

Is This a Misunderstanding?

Ambrose Here...

Take the crumbs from the soldier they will not die, take the bread from the children, they will live. Take dreams away from people and they will... Jim Rohn

When I first heard this statement, it really struck me especially in the aspect of investment.

Like investing, it is divided into 2 namely:

Long Term financial goals
Short-term financial goals

Long-term financial Goals is your financial goals for 3 years, 5 years, 10 years, 20 years or let me say your whole lifetime financial Goals.

Short term Financial goals: I called confidence in building goals. They are the goals you need to set and achieve immediately.

OK, Ambrose, I understand that long term financial goals is a lifetime journey, how can I get started with the short term financial goals?

What I am about to say is not new but it has been used by investors who know what they want in life. It has also been used for both short term and long term financial goals.

This is simply been a member of the BUYING and SELLING SELLING SIGNALS.

In this membership, you will be getting

1. Stock to buy on Short term
2. Stock to buy on long term
3. Sell alert for short term Stock.
4. Daily Market update to aid your buying and selling decisions
5. Earning tracking analytics
6. Weekly buying and selling alert
7. Once per week phone conversation for further advice.
8. So much more...

Don't leave your financial success to hope your future will never get better through passive or happy hope but through a conscious effort to plan. Don't follow the crowd. Subscribe now by calling 08028164085,08032055467.


Dedicated to your Financial Success
Ambrose Omordion

https://investdataltd..com/2019/06/is-this-misunderstanding.html

Investdata Weekly Sentiment Report as at June 10, 2019

NSEASI buy 31% sell 69% MFI 17.81
Access buy 57% sell 43% MFI 63.25
Afrprud buy 0% volume index 1.03 MFI 19.97
Aiico buy � MFI 57.54
Berger buy � volume index 3.30 MFI 18.47
Caverton buy 0% MFI 87.59
Chams buy � MFI 87.51
CIleasing buy 0% MFI 8.22
Conoil buy � volume index 2.27 MFI 52.73
Custodian buy � MFI 26.65
Dangcem buy 45% sell 55% MFI 58.77
Dangflour buy 0% MFI 56.81
Dangsugar buy 0% MFI 16.62
Eti buy 0% MFI 21.26
Fbnh buy 33% sell 67% MFI 46.16
Fcmb buy 63% sell 38% volume index 1.34 MFI 24.02
Fidelity buy 63% sell 37% MFI 28.48
Fmn buy 50% sell 50% volume index 2.09 MFI 12.75
FO buy 60% sell 40% MFI 61.52
Glaxo buy 0% volume index 1.42 MFI 21.95
GT buy 4% sell 96% volume index 1.56 MFI 36.88
Honyflour buy 0% MFI 35.29
Jaiz buy 50% sell 50% volume index 0.92 MFI 34.70
Japaul buy 0% MFI 65.60
JBerger buy � volume index 0.82 MFI 52.68
Lasaco buy � MFI 79.33
Lvstk buy � MFI 31.84
Mansard buy 0% MFI 73.63
M&B buy 0% MFI 59.58
Mben buy 0% MFI 26.98
Mobil buy 0% volume index 9.56 MFI 47.32
Nascon buy 3% sell 97% volume index 0.85 MFI 40.96
Nem buy 0% MFI 49.94
Nestle buy 0% MFI 55.41
Npf buy � MFI 35.28
Oando buy 67% sell 33% volume index 2.46 MFI 13.26
Pz buy 0% volume index 1.15 MFI 12.02
Regalins buy 0% MFI 36.47
Seplat buy � volume index 0.97 MFI 53.63
Stanbic buy � MFI 33.51
Sterling buy � MFI 84.63
Total buy 0% MFI 17.69
Transcorp buy 75% sell 25% MFI 61.75
Uacn buy 14% sell 86% volume index 2.48 MFI 54.90
Uba buy 44% sell 56% volume index 1.03 MFI 34.44
Ubn buy � MFI 90.46
Ucap buy 44% sell 56% volume index 0.98 MFI 13.93
Unilever buy 98% sell 2% MFI 36.64
Vitafoam buy 0% MFI 51.13
Wapco buy 0% MFI 35.62
Wapic buy 0% volume index 1.21 MFI 37.22
Wema buy 33% sell 67% MFI 55.55
Zenith buy 57% sell 43% MFI 32.80

https://investdataltd..com/2019/06/investdata-weekly-sentiment-report-as.html

Mixed Trading On NGSE, As Low Valuation May Lure Investors Ahead Of March Results

Market Update for June 10
Stocks opened the week lower Monday as the Nigerian Stock Exchange (NSE) composite All-Share index had a mixed session, extending the losing streak to six consecutive days of down market on a ‘sell’ pressure.
The gloomy state of the market reflects the weak economy and dwindling confidence in the whole system following from the fact that the government has consistently failed to champion a new course expected to stimulate the economy with policies and leadership style. This has over the last four years manifested in low productivity, which reflected in the latest decline in GDP to 2.01% in the first quarter of 2019, from 2.34% in Q4 2018. No wonder, Mustafa Chike-Obi, former Managing Director of the Asset Management Corporation of Nigeria (AMCON) and Goldman Sachs executive told newsmen in Lagos on Monday that the Nigerian economy has the capacity to grow at double digits with the right policies and government attitude (READ MORE).

At a time one will expect that government will hit the ground running in this its second four-year term, the Muhammadu Buhari administration continues to delay formation of a cabinet. One would have expected a formidable team of technocrats, not political jobbers, so as to effectively map out strategies and draw a roadmap that will drive productivity for economic growth in conjunction with the monetary policy to pull the economy out of its sluggish momentum to the path of sustainable growth. The desire of the Central Bank of Nigeria (CBN) to stimulate growth through interventions needs a serious commitment from the government to turnaround the economy in no distance time.

The NSE All-Share Index opened on the downside and followed through till the afternoon session, before retracing back marginally after touching intraday low of 30,306.76 basis points, from its high of 30,459.43bps.
Monday’s market technicals were negative in the midst of strong selling pressure, as revealed by Investdata’s Daily Sentiment Report showing ‘sell’ position of 90% and ‘buy’ volume of just 10% of the total daily transaction volume index of 0.84.

The momentum behind the day’s performance was nonetheless strong and flat, despite the down market, with Money Flow Index at 66.14points, from previous day’s 65.44bps, indicating that funds are still entering some stocks, irrespective of selloffs in some positions.

Index and Market Cap
At the end of the day trading the NSEASI shed 109.94bps, closing at 30,322.19bps, after opening at 30,432.13bps, representing 0.36% drop, just as market capitalization shed N48.42bn to close at N13.36tr, from its opening value of N13.4tr which also represented 0.36% value loss.


Attention: If you haven’t signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new favorite stocks of the most revered traders and investors in corporate Nigeria to our watchlist, these stocks are with double potentials. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The day’s downturn was driven by selloffs and profit booking in stocks like MTN Nigeria, Zenith Bank, Unilever, CCNN, ETI, Dangote Flour, Oando, Wema Bank and Transcorp, among others. This impacted negatively on the Year-to-Date negative position, which rose to 3.53%, just as market capitalization gain stood at N1.45 trillion, or 14.49%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
The sectoral indexes were down, except for the NSE Insurance which closed marginally up by 0.02%, while the NSE Industrial led the losers after shedding 2.35%, followed by Consumer Goods with 0.62%, while Oil/Gas and Banking followed with 0.21% and 0.10% respectively. Market breadth was negative as decliners outnumbered advancers in the ratio of 20:15.

Market activities were down in volume and value traded by 19.04% and 10.75% respectively to 247.39m shares worth N3.48bn, as against previous day’s 305.56m units valued at N3.9bn. The day’s volume was driven by financial services stocks like Zenith Bank, Guaranty Trust Bank, Ecobank Transnational Incorporated, Custodian Investment, and FBNH.
UACN Property and Consolidated Hallmark Insurance were the best-performing stocks as they topped the advancers’ table with 10% gains each to close at N1.65 and N0.22 per share respectively on market forces. On the flip side, CCNN and Unity Bank also lost 10% each, closing at N13.50 and N0.63, on profit-taking, weak numbers, and negative retained earnings.

Market Outlook
We expect mixed performance and downtrend may continue until bargain hunters hit the market again, as discerning investors take advantage of low valuation to rebalance their portfolio ahead of March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are set to start running and the plans of Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities while boosting private sector lending to drive economic activities and investment.

Investors look to government’s policy direction as the market faced low liquidity problems in pre and post-inauguration season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the 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 to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals..

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/2019/06/mixed-trading-on-ngse-as-low-valuation-may-lure-investors-ahead-of-march-results/

Breaking! SEC Suspends Oando Plc AGM

Further to its appointment of an Interim Management Committee to oversee Oando Plc and to organise an Extraordinary General Meeting at which a new management will be appointed for the company, the Securities & Exchange Commission (SEC), on Monday ordered a suspension of the annual general meeting fixed for Tuesday, June 11, 2019.

The commission said the suspension “till further notice” is “to allow the parties maintain status quo.”
The statement said it is also “further to the Ex-parte Order of the Federal High Court, Ikoyi Lagos in Suit No: FHC/L/CS/910/19 between Jubril Adewale Tinubu & Anor V Securities & Exchange Commission & Anor.
Management of the commission promised to “update the public on the outcome of the ongoing litigation.”

https://investdata.com.ng/2019/06/breaking-sec-suspends-oando-plc-agm/

How Nigeria Can Achieve Double-digit GDP Growth, By Chike-obi, Ex-AMCON Boss

For Nigeria’s economy to achieve the much desired double-digit growth, the Federal Government must eliminate subsidies in fuel, foreign exchange, and electricity, while paying greater attention to security and infrastructure, according to Mustafa Chike-Obi, immediate past chief executive of the Asset Management Corporation of Nigeria (AMCON).
Speaking in Lagos on Monday, at an agenda-setting forum as the second four-year term of President Muhammadu Buhari begins in earnest, Chike-Obi lamented that these forms of subsidies were hindering other sectors that need urgent attention, besides slowing down hampering GDP.

Addressing members of the Finance Correspondents Association of Nigeria (FICAN) on theme,
“Repositioning the Nigerian Economy for sustainable growth,” Chike-Obi, Executive Vice Chairman, Alpha African Advisory, lamented that rich Nigerians benefit more from fuel subsidy, just as removing electricity subsidy will attract significant investments to the power sector and unlock other opportunities.
He wondered why the Federal Government should continue subsidizing Premium Motor Spirit (petrol), spending all of N1.2tr per year, apart from some other hidden loses no one is allowed to see.
According to him, “who gets the fuel subsidy? …the rich people with six cars are those benefitting from fuel subsidy.

“The average rich person in Ikoyi is getting approximately 100 times a year fuel subsidy than the person in Shomolu in Lagos,” he stressed, adding that, “everybody deserves to have electricity but you charge electricity based on those who needed it the most in the market price. Most people that use generator pay N160/Kwh and pays comfortably.

“If you tell these power companies that they can sell power at N160/kwh, they will make sure that more power will be generated (and distributed).”
He also expressed concern about Nigeria’s rising debt service ratio, which according to him could be about 70% of annual revenue, warning: “It is almost a guarantee that Nigeria is going to be talking about debt rescheduling soon and we need to start putting our house in order ahead of that.”
Chike-Obi stressed the need for coherent and forward-looking policies to address the myriad of problems confronting Nigeria.

“We are badly in need of good leadership… we need a leader that would map out the strategy and roadmap for economic growth in this country.
“There is a need for coherent monetary and fiscal policies. For me, the position of a CBN Governor should be a cabinet position and the CBN Governor should always be meeting with the Minister of Finance and the Minister of Budget and Planning every two weeks,” he added.
According to the former AMCON CEO, revenue mobilization is Nigeria’s biggest problem.
In addition, he proposed the creation of a Ministry of Infrastructure.

https://investdata.com.ng/2019/06/how-nigeria-can-achieve-double-digit-gdp-growth-by-chike-obi-ex-amcon-boss/

Investdata Daily Sentiment Report as at June 12, 2019

NSEASI buy 17% sell 83% volume index 0.80 MFI 60.40
Access buy � volume index 1.05 MFI 49.71
Chams buy � MFI 57.22
Cutix buy 0% MFI 26.74
Fbnh buy � MFI 42.91
Fidelity buy 33% sell 67% MFI 49.32
Fmn buy 50% sell 50% volume index 1.47 MFI 12.15
GT buy � MFI 31.09
Jaiz buy � MFI 28.18
Mobil buy 0% MFI 32.29
Nahco buy 0% volume index 1.25 MFI 2.51
Oando buy 50% sell 50% MFI 15.10
Sterling buy � volume index 2.29 MFI 42.12
Transcorp buy 0% MFI 42.25
Uba buy 0% MFI 23.39
Ucap buy 0% volume index 1.00 MFI 45.03
Uniondac buy 0% MFI 87.20
Wapic buy � volume index 12.41 MFI 76.95
Wema buy 0% MFI 27.12
Zenith buy 33% sell 67% volume index 1.21 MFI 41.11

https://investdataltd..com/2019/06/investdata-daily-sentiment-report-as-at_12.html?m=1

CBN Denies Making Any Change In Nigeria’s Forex Structure

The management of the Central Bank of Nigeria (CBN), on Wednesday morning, took to its official Twitter handle (@cenbank) to deny reports that it had systematically devalued the Naira.
Without being explicit, the apex bank tweeted: “There has been NO change in Nigeria’s exchange rate structure.”

In a report titled: “Nigeria’s Central Bank Signals Weaker Official Naira,” Bloomberg noted the bank’s plan to allow the naira “weaken past its official rate as it gradually unwinds its regime of multiple exchange rates, data on its website shows.”

The report noted, for example, that the CBN stopped publishing the fixed naira exchange rate on its website, which was N305/$, to allow the rate become “market-determined,” used to ensure that some traders including, fuel importers, got cheap dollars.
The central bank, the report continued, is in talks with other agencies to move to a single rate for the nation’s currency, quoting Yewande Sadiku, the head of the Nigerian Investment Promotion Commission, as saying last month.

“Putting that on the website means the central bank is gradually moving towards a single exchange-rate window. It is making the exchange rate more liquid to attract more inflows,” Kunle Ezun, a currency analyst at Ecobank Transnational Inc in Lagos, told the reporter by telephone.

The report also noted the Nigerian Customs Service as telling importers on Monday to pay for duties at a weaker rate of N326/$ from N306/$, citing a directive from CBN, according to Jonathan Nicol, President of Shippers Association of Lagos State.

https://investdata.com.ng/2019/06/cbn-denies-making-any-change-in-nigerias-forex-structure/

NGSE Downtrend Continues, But Investors Project Bargain Hunting On Low Valuation

Market Update for June 11
It was another bearish session on Tuesday as the composite All-Share index of the Nigerian Stock Exchange (NSE) continued its downtrend for the seventh consecutive session on negative sentiments. Selloffs and profit taking were seen in high cap stocks like Dangote Cement, Nigerian Breweries, MTN Nigeria, Zenith Bank, and 11 Plc, thereby further dragging down the market as the government settles down gradually for the task of rebuilding the economy.

On Tuesday, Nigerians watched as the National Assembly was inaugurated, followed by the election of principal officers, ahead of the expected presentation of the list of cabinet members for screening and approval by the legislators in the coming days and weeks. The quality of cabinet members will show the government’s direction and whether we would see effective economic reform policies that will propel national productivity and create jobs.

The flow of funds into the equity market has been slow due to the dwindling confidence level as investors look the way of other investment windows, especially the risk-free assets in the money and fixed income markets. The weak economic fundamentals have continued to militate against productivity and businesses, a situation that has made neighbouring Ghana take over as Africa’s foremost destination for Foreign Direct Investment.

The benchmark NSEASI started the day trading on the downside and sustained it into the early afternoon before slightly retracing up, closing the day at 30,099.83 basis points, after the index had touched intraday low of 30,055.56bps, from its high of 30,322.19bps which was the opening figure.

Market technicals for the day were negative as volume traded was lower than the previous day in the midst of negative market breadth and high selling pressure, as revealed by Investdata’s Daily Sentiment Report showing ‘sell’ volume of 83% and ‘buy’ position of just 17% of the total daily transaction volume index of 0.80.
The impetus behind the day’s performance was relatively strong but down, reflecting the continued down market, with Money Flow Index at 60.40points, from previous day’s 66.14bps, indicating selloffs in some positions.

Index and Market Cap
At the end of Tuesday’s trading, the NSE All-Share Index lost 222.26bps, closing at 30,099.83bps, after opening at 30,322.19bps representing 0.73% decline, similarly. Market capitalization dropped by N97.93bn to close at N13.26tr, from its opening value of N13.36tr which also represented 0.73% depreciation in value.

Attention: If you haven’t signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new favorite stocks of the most revered traders and investors in corporate Nigeria to our watchlist, these stocks are with double potentials. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The day’s downturn impacted negatively on the Year-to-Date negative position, which increased to 3.53%, just as market capitalization gain dropped to N1.45tr, or 14.49%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
Again, all the sectoral indexes were in red, except for the NSE Insurance which closed in green by 0.47%, while the NSE industrial led the decliners after shedding 1.10%, followed by oil/gas with 0.85%, while banking and Consumer goods followed with 0.20% and 0.02% respectively.

Market breadth was negative as decliners outnumbered advancers in the ratio of 15:10, just as market activities were mixed with volume traded down by 5.64% to 233.45m shares from 247.39m units, while value went up by 1.04% to N3.5bn from N3.48bn. The day’s volume was driven by financial services and ICT stocks like Wapic Insurance Zenith Bank, Courtville, Access Bank and Sterling Bank.

Unilever and ABC Transport were the best-performing stocks as they topped the advancers’ table with 8.22% and 7.14% respectively to close at N30.95 and N0.30 per share respectively on low price attraction and market forces. On the flip side, Sovereign Trust Insurance and Japual Oil also lost 8.12% and 7.41% respectively, closing at N0.23 and N0.25, on profit-taking.

Market Outlook
We expect mixed performance and downtrend may continue until bargain hunters hit the market again, as discerning investors take advantage of low valuation to rebalance their portfolio ahead of March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are set to start running and the plans of Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities while boosting private sector lending to drive economic activities and investment.

Investors look to government’s policy direction as the market faced low liquidity problems in pre and post-inauguration season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the 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 to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals..

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/2019/06/ngse-downtrend-continues-but-investors-project-bargain-hunting-on-low-valuation/

CBN Injects $210m Into Forex Market

The Central Bank of Nigeria (CBN) says revenue flows into the federation account stood at N2.309tr in the first quarter of 2019, a 30.5% drop when compared to the projection in the national budget for the period.
The amount was also 4.2% lower than N3.321tr recorded in the corresponding period of 2018, a situation blamed on “the shortfall in receipts from both oil and non-oil revenue components in the review quarter.”

According to the CBN’s Economic Report for the period, gross oil receipt stood at N1.413tr, representing 61.2% of total revenue, which was below both the proportionate quarterly budget estimate and the receipts in the preceding quarter by 26.4% and 3.5%, respectively.

“The decline in oil revenue relative to the proportionate budget estimate was due to shortfalls in crude oil production and exports, arising from maintenance operations at the various NNPC terminals.”
Non-oil revenue, in the period under review, fell below that of the prior quarter at N896.04bn or 38.8% of the total from N1.4tr or 36% of the total, just as it fell below the level in the preceding quarter by 5.4%.

“The lower nonoil revenue relative to the proportionate quarterly budget estimate was due to shortfalls in receipt from Federal Government Independent Revenue and Corporate Tax,” the report added.

After the statutory deductions and transfers of N435.51bn and N395.81bn, respectively, a net sum of N1.478tr was retained in the Federation Account, with the Federal Government receiving N709.03bn, while the State and Local governments getting N359.63bn and N277.26bn,

Federal Government retained an estimated N798.82bn, below the proportionate quarterly budget estimate and the receipts in the preceding quarter by 57.7% and 28.8%, respectively.

Estimated Federal Government expenditure for the review period at N1.197tr was below the proportionate quarterly budget estimate of N2.376tr by 49.6% and the level in the preceding quarter by 34.8%. Recurrent expenditure, capital expenditure, and transfers constituted 71.4%, 23% and 5.6% of the total expenditure, respectively.

A breakdown of the recurrent expenditure showed that non-debt obligation was 61%, while debt service payments accounted for 39% of the total, following which the fiscal operations of the Federal Government resulted in an estimated deficit of N398.22bn, compared with the proportionate quarterly budget deficit of N488.62bn.

https://investdata.com.ng/2019/06/cbn-injects-210m-into-forex-market/#more

Do You Know The Best Time for Reinvesting?

Ambrose Here Again...

When a stock you own pays dividends, you have two options: pocket the cash and use it as you would any other income, or reinvest it by purchasing additional shares of stock. Though having a little extra cash on hand may be appealing, reinvesting your dividends can really pay off in the long run especially when the market is down.

So back to the Basics, Companies pay dividends to their shareholders to reward them for their investments and continued support. Dividends are taken from a company's retained earnings, which is the amount of cumulative profits that remains after accounting for all expenses and any reinvestment in the company's expansion. Though dividends can be issued in shares of stock, they are commonly issued as a cash payment.

However, reinvesting your dividends simply means purchasing additional shares of stock with the money you receive. On most trading platforms, you can choose to have this done automatically on your behalf. Proponents of this tactic highlight the fact that, by purchasing new shares of a stock that you know pays dividends, you can grow your investment at a much quicker rate than if you pocket your dividends and rely solely on capital gains to generate wealth.

But it is strictly for those who want to do long-term investments which is still okay. However, if you are thinking of a short-term or immediate return on investment, then it is recommended that you get

*1. Go for a consistent Stock Market training.*
*2. Carry out an intensive Research*
*3. Register for membership where stockbrokers share stocks to buy and stocks to sell decisions*

However, the (1) and (2) consumes a lot of time, money and unnecessary resources which is not redeemable. The (3) does not because I have has done everything for you which is what my *Buying and Selling Signal Premium Membership stands for.

Register NOW by Calling 08028164085,08032055467 or send an email to ambroseconsultants@yahoo.com Now to Get Started*

Dedicated to your Financial Success,
Ambrose Omordion

Investdata Weekly Sentiment Report as at June 10, 2019

NSEASI buy 31% sell 69% MFI 17.81
Access buy 57% sell 43% MFI 63.25
Afrprud buy 0% volume index 1.03 MFI 19.97
Aiico buy � MFI 57.54
Berger buy � volume index 3.30 MFI 18.47
Caverton buy 0% MFI 87.59
Chams buy � MFI 87.51
CIleasing buy 0% MFI 8.22
Conoil buy � volume index 2.27 MFI 52.73
Custodian buy � MFI 26.65
Dangcem buy 45% sell 55% MFI 58.77
Dangflour buy 0% MFI 56.81
Dangsugar buy 0% MFI 16.62
Eti buy 0% MFI 21.26
Fbnh buy 33% sell 67% MFI 46.16
Fcmb buy 63% sell 38% volume index 1.34 MFI 24.02
Fidelity buy 63% sell 37% MFI 28.48
Fmn buy 50% sell 50% volume index 2.09 MFI 12.75
FO buy 60% sell 40% MFI 61.52
Glaxo buy 0% volume index 1.42 MFI 21.95
GT buy 4% sell 96% volume index 1.56 MFI 36.88
Honyflour buy 0% MFI 35.29
Jaiz buy 50% sell 50% volume index 0.92 MFI 34.70
Japaul buy 0% MFI 65.60
JBerger buy � volume index 0.82 MFI 52.68
Lasaco buy � MFI 79.33
Lvstk buy � MFI 31.84
Mansard buy 0% MFI 73.63
M&B buy 0% MFI 59.58
Mben buy 0% MFI 26.98
Mobil buy 0% volume index 9.56 MFI 47.32
Nascon buy 3% sell 97% volume index 0.85 MFI 40.96
Nem buy 0% MFI 49.94
Nestle buy 0% MFI 55.41
Npf buy � MFI 35.28
Oando buy 67% sell 33% volume index 2.46 MFI 13.26
Pz buy 0% volume index 1.15 MFI 12.02
Regalins buy 0% MFI 36.47
Seplat buy � volume index 0.97 MFI 53.63
Stanbic buy � MFI 33.51
Sterling buy � MFI 84.63
Total buy 0% MFI 17.69
Transcorp buy 75% sell 25% MFI 61.75
Uacn buy 14% sell 86% volume index 2.48 MFI 54.90
Uba buy 44% sell 56% volume index 1.03 MFI 34.44
Ubn buy � MFI 90.46
Ucap buy 44% sell 56% volume index 0.98 MFI 13.93
Unilever buy 98% sell 2% MFI 36.64
Vitafoam buy 0% MFI 51.13
Wapco buy 0% MFI 35.62
Wapic buy 0% volume index 1.21 MFI 37.22
Wema buy 33% sell 67% MFI 55.55
Zenith buy 57% sell 43% MFI 32.80

Oando Plc: Lagos FHC Adjourns Hearing In Wale Tinubu, Boyo, SEC Suit


Justice Mojisola Olatoregun of the Federal High Court in Lagos, on Thursday, adjourned until June 24, 2019, the suit instituted by Jubril Adewale Tinubu, Group Chief Executive of Oando Plc, and his Deputy Group Chief Executive, Omamofe Boyo, against the Securities and Exchange Commission (SEC).

In a statement to the Nigerian Stock Exchange (NSE) by Ayotola Jagun, its Company Secretary, Oando reported the court as directing that the preliminary objection of the respondent, the SEC, and the substantive application for enforcement of fundamental rights be taken together at the next adjourned date.

Meanwhile, the court further ruled that all parties involved should maintain the status quo, pending the determination of the motion.
“Pursuant to the court order, Oando’s management team and Board of Directors as at the date of this release (save for the two (2) non-executive directors departure announced on the 7th of June 2019) remain unchanged pending the outcome of the hearing of the various applications filed by the parties,” the statement added.

https://investdata.com.ng/2019/06/oando-plc-lagos-fhc-adjourns-hearing-in-wale-tinubu-boyo-sec-suit/

Investdata Daily Sentiment Report as at June 14th, 2019

NSEASI buy 5% sell 95% volume index 0.84 MFI 54.89
Access buy 50% sell 50% MFI 52.09
Afrprud buy � volume index 2.04 MFI 31.21
Aiico buy 0% MFI 29.31
Chams buy 50% sell 50% volume index 0.75 MFI 60.38
Dangcem buy 0% volume index 1.39 MFI 68.52
Dangsugar buy 0% volume index 1.25 MFI 22.81
Fbnh buy � MFI 46.81
Fcmb buy � MFI 75.98
Fidelity buy � volume index 0.98 MFI 46.62
FO buy � volume index 1.52 MFI 58.36
M&B buy � volume index 0.81 MFI 82.24
Nahco buy 0% volume index 0.95 MFI 3.67
Npf buy 0% volume index 2.02 MFI 15.56
Oando buy � volume index 0.74 MFI 15.32
Sterling buy � MFI 44.26
Transcorp buy 0% MFI 42.24
Uacn buy 0% MFI 31.79
Uba buy 33% sell 67% volume index 1.05 MFI 22.77
Ucap buy 0% MFI 45.58
Unilever buy 5% sell 95% MFI 69.32
Wapic buy 0% volume index 0.79 MFI 77.97
Wema buy � MFI 23.68
Zenith buy � volume index 1.43 MFI 39.06

https://investdataltd..com/2019/06/investdata-daily-sentiment-report-as-at_14.html

Investdata Weekly Sentiment Report

NSEASI buy 11% sell 89% MFI 18.23
Access buy � MFI 67.58
Afrprud buy 0% volume index 1.21 MFI 21.57
Aiico buy 29% sell 71% MFI 64.68
Berger buy � volume index 7.53 MFI 10.31
Ccnn buy 0% MFI 4.79
Chams buy � MFI 87.51
CIleasing buy 0% MFI 3.17
Custodian buy � volume index 1.75 MFI 50.00
Cutix buy 0% volume index 0.76 MFI 15.01
Dangcem buy 17% sell 83% MFI 60.47
Dangflour buy 0% MFI 60.52
Dangsugar buy 0% volume index 1.18 MFI 16.29
Eterna buy 0% MFI 9.61
Eterna buy � volume index 3.36 MFI 17.08
Fbnh buy 50% sell 50% MFI 39.38
Fcmb buy � MFI 28.68
Fidelity buy 0% MFI 35.59
Fmn buy 50% sell 50% volume index 1.22 MFI 12.99
FO buy � MFI 64.24
Glaxo buy � volume index 0.74 MFI 27.94
GT buy � volume index 1.68 MFI 38.71
Jaiz buy 0% MFI 31.29
Japaul buy 25% sell 75% MFI 68.09
Lasaco buy � MFI 78.76
Linkass buy � MFI 21.77
Lvstk buy 0% MFI 35.24
M&B buy me � volume index 1.12 MFI 61.67
Mben buy � MFI 31.90
Mobil buy 0% MFI 47.27
Nahco buy 0% volume index 2.37 MFI 67.84
Nem buy � MFI 51.50
Nestle buy 0% MFI 54.19
Npf buy 0% MFI 23.47
Oando buy 71% sell 29% volume index 0.86 MFI 13.29
Presco buy 0% MFI 0.00
Royalex buy � MFI 24.83
Sovereins buy 0% MFI 41.05
Sterling buy 58% sell 42% MFI 82.68
Transcorp buy 33% sell 67% MFI 64.96
Uacp buy 52% sell 48% volume index 0.80 MFI 34.61
Uacn buy 0% MFI 54.31
Uba buy 29% sell 71% MFI 36.37
Ucap buy � volume index 1.12 MFI 20.80
Unilever buy 71% sell 29% MFI 38.14
Uniondac buy 0% MFI 22.14
Vitafoam buy � volume index 0.82 MFI 46.95
Wapco buy 0% MFI 26.65
Wapic buy 25% sell 75% volume index 5.76 MFI 69.05
Wema buy � MFI 55.17
Zenith buy 20% sell 80% volume index 0.98 MFI 20.69

https://investdataltd..com/2019/06/investdata-weekly-sentiment-report.html

Hello Investors,

The Dividend Possibility from expected earnings reports have been posted on the membership site for you. Please click on the below link to access and download it now.

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

To Your Success
Investdata Consulting.

P.S. You need to act fast. You know time wait for no one.

*HAPPY FATHER'S DAY!!!*
To all the super and dedicated Fathers...
May your labours not be in Vain.
God's protection and blessings be upon you now and always.
It is well with you in the name of Jesus Christ... Amen!!!

Have a fun day!

Sentiments Remain Negative On NGSE, But Reversal Imminent On Likely Positioning

Market Update for the week ended June 14 and Outlook for June 17-21

Trading activities on the Nigerian Stock Exchange stayed bearish in the past week, consolidating previous week’s down market despite the positive outing on Friday that followed eight consecutive sessions of decline as a volley of selloffs and profit-taking hit highly capitalized stocks.

The week was indeed a period of high political events like the inauguration of the 9th National Assembly and election of principal officers, followed by a celebration of democracy day for the first time on June to commemorate that day in 1993 when Nigeria successfully conducted the most de-tribalized election across the country that produced Chief Moshood Abiola as President. The election was however annulled by the then military junta led by Gen. Ibrahim Babangida.

With the events of last week therefore, it is expected that the legislature and executive arms of government will hit the ground running for another four years. However, even when many had expected President Muhammadu Buhari to announce his first set of appointment and produce his ministerial list that will give a hint as to policy making and implementation direction, it was not the case. The nation may have to now wait as the Federal legislators proceeded on recess until July, at a time the economy is stagnated and looking for stimulus to trigger product activities that will drive growth.

Meanwhile, the general expectation is that since the anointed candidates of President Muhammadu Buhari and his party, the All Progressives Congress (APC) have emerged leaders in both chambers of the National Assembly, there should be cordial relationship between the executive and legislature to advance the course of building this economy again. Nigerians will not expect another season of the blame game, but the right economic policies and persons to implement them.

The quality of cabinet members will show if the government is serious about reducing poverty, insecurity and creating jobs for Nigerians.
The fiscal and monetary authorities must also show strong coordination for regulators in the economy to follow suit and guide against the downside risks already highlighted by the World Bank in its latest publication.

The June 2019 edition of the World Bank Global Economic Prospect (GEP) report released on Wednesday, 4th June 2019, highlighted the sharp deterioration in Global and EMDEs growth momentum in H1’19. It blamed this on the escalating trade tension between the U.S. and China and subdued investment inflows into EMDEs (of which Nigeria is one). With likely policy-destabilizing developments such as further escalation of trade tensions between the world’s two largest economies, and renewed financial turmoil in emerging economies among others; the World Bank wants policymakers in emerging economies to a) Reinforce policy buffers and build resilience to possible negative shocks b) Implement reforms that will promote private investment and improve public sector efficiency c) Prioritize and implement through cost-effective and private-sector-led solution, efforts to strengthen access to market and technology while boosting the quality of infrastructure and governance d) Effect structural reforms aimed at improving the business climate and also boost growth prospects; and e) Develop well-designed social safety nets and active labour market policies to manage risks and protect the vulnerable groups.

Movement Of NSEASI
Back home, it was a negative outing for the period under review. Trading opened on a negative note, with the NSEASI losing 0.35% on Monday, extending previous week’s selling position which was sustained into Tuesday when the index closed further down by 0.73% due to strong selloffs. The bear run was extended to Thursday after midweek’s public holiday, as the market shed 0.23% before the seeming and marginal rebound on Friday when it gained a marginal 0.08% as high cap stocks resisted further decline. This brought week’s total loss to 1.27%, compared to the previous 2.1% slide.

Last week’s down market impacted year-to-date loss to 4.4%, just as the negative market breadth within the period offers another long term buying opportunities for traders and investors. Trading enters the third week of the month and is expected to usher in the March year-end earnings reporting period and second half of the year for interim dividend-paying stocks.
Low cap stocks dominated the advancers table as ‘sell’ pressure continued on blue-chip stocks and others, despite the low trading activities as a result of low liquidity and confidence. There is also the possible wait-and-see posture by the investing public for the Federal Government’s much-needed economic reforms policies.

The momentum behind the week’s performance was weak, as shown by the money flow index at 18.23 basis points, compared to 17,81bps in the previous week. This indicates that funds are still moving within the stocks, even as sentiments remained negative, with buy position at 11% and sell volume, 89% on a transaction volume index of 0.54.

NSEASI Weekly Time Frame

The selling sentiment for highly capitalized stocks, despite the flat money flow index, revealed profit taking from the recently attempted rebound that was short-lived as investors suspected that the rally was stage-managed immediately MTNN was listed. However, a reversal of the downtrend is imminent as Fibonacci retracement is at 38.2%. The low activities in the market reflected on the Bollinger band as it contracted.
The current chart pattern on the NSE All-Share index supports reversal as it is trading on top of its 20-DMA within Bollinger band, while RSI is reading oversold at 43.36. But then, Money flow at 18.23 points is weak.

Mixed Sectoral Indices
The sectoral performance indices were largely bullish, except for the NSE Industrial and consumer goods that closed lower by 4.15% and 1.66% respectively. The NSE Insurance led the advancers with a weak 0.86% rise; followed by the NSE Oil/Gas with 0.28%, just as the banking index closed slightly up by 0.01%. This reflected the negative sentiment in the market, at a time market breadth remained negative with decliners outnumbering advancers in the ratio of 31:19, to continue the bearish transition.

Transaction activities in terms of volume and value were up 12.97% and 25.82% respectively, to 868.74m shares worth N15.79bn, as against the previous week’s 768.98m units valued at N12.55bn.
The best-performing stocks for the period were Forte Oil and GSK, topping the advancers’ chart with 14.17% and 11.11% gains respectively, to close at N29.40 and N8.50 per share on market forces and sentiment respectively. On the other hand, Nahco and Cutix lost 11.80% and 11.25% respectively, closing at N2.99 and N1.42, on profit-taking and market forces.

Market Outlook
Expect mixed performance and a slowdown in the southward trend as bargain hunters are likely to hit the market any moment from now, while discerning investors are taking advantage of low valuation to rebalance their portfolio ahead of March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are set to start running and the plans of Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities while boosting private sector lending to drive economic activities and investment.

There is also the likely end of month trading account balancing in the midst of portfolio repositioning in expectation March year-end earnings reports.
Profit taking may persist in highly capitalized stocks due to portfolio restructuring. Hence, overall market performance to remain mixed amidst positive sentiments and negative breadth.

Market players should maintain a cautious outlook due to low confidence and liquidity, waiting for major economic triggers. Hence, we advise investors to trade cautiously in the short-term, with their gaze fixed on blue-chip stocks that are selling more than 40% below their 52 weeks high. As we look out for a positive catalyst to drive market recovery.

That notwithstanding, we would not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With the prices of major blue chips continuing to drop in recent weeks, we expect speculative trading to shape the market’s direction this week, despite the seeming negative outlook.

The sustained volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on the political space and post-inauguration market dynamics. Investors should review their positions in line with their investment goals, the 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 and allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

https://investdata.com.ng/2019/06/sentiments-remain-negative-on-ngse-but-reversal-imminent-on-likely-positioning/

Frankly...Please Tell me if This is Right

Ambrose Here,

Don’t blame the government, don’t blame your environment, don’t blame your employer, don’t blame your negative friends and family, don’t blame the economy and don’t blame the current taxes for your current Status but your personal philosophy…Jim Rohn

In this country of abundant opportunity, it is a common culture that we blame the government, the economy, the political parties, people around us whereas it will not change rather worsen and I don’t know when it will. Unfortunately, those above mentioned variables are the only things you have in other to survive in this country.

However, you might be wondering that if you don’t curse those variables, what else can you do? After all, their policies have affected your salary or business opportunity in one way or another.

Sincerely, I must confess that you don’t have control over them. That is, the economy, political parties, environment, government policies and employers will not change to suite only you thus the only option available is to change your personal philosophy about life.

Yes, your personal philosophy is the only thing within your control. That is, you need to change your approach in dealing with life situation. After all, what has not made you achieve your goals are little repeated errors and judgment over a period of time. Not the government here, not the economy.

Frankly, the inspiration that your success is in your personal philosophy is not enough for you to transform your life. That is, inspiration is not enough. So the first step is to seek knowledge first.

Simply put, how much do you know about investing during bear and Bull market? Have you explored it to the fullest? That is, there are 1000 ways of doing it better or you are part of those WHO WILL SAY I HAVE NOT USED THE ONES I HAVE YET (Altitude) Without knowledge your inspiration will die and fizzle away.

Hence, invest in yourself so that you can get the best out of the current economy because you cannot invest in the below and not join the top 5%. Life is predictable, Order for

*1. The ABC Technical Analysis for Novice and Advance Traders Workshop Training Video
*2. Join the Buying and selling signal Premium Membership

... and STOP COMPLAINING ABOUT WHAT IS NOT WITHIN YOUR CONTROL.

Dedicated to your Financial Success
Ambrose Omordion
https://investdataltd..com/2019/06/franklyplease-tell-me-if-this-is-right.html

NSE Partners REDmoney To Boost Islamic Finance in Nigeria

The Nigerian Stock Exchange (NSE), on Friday, announced a partnership with REDmoney Group for the inaugural edition of a forum aimed at promoting the growth and development of the Nigerian Islamic Finance industry.

The event with the theme “Harnessing the Islamic Finance Sector for Infrastructure Development and Economic Growth,” slated for Tuesday, June 18, 2019, in Lagos, according to a statement, is the first stop in the inaugural three-part IFN African Roadshow 2019.
The event is expected to facilitate the growth of a new asset class in the Nigerian capital market.

The Forum which will be headlined by Ms. Mary Uduk, Acting Director-General, Securities and Exchange Commission (SEC), in addition to a stellar line-up of speakers, comprising senior industry players, decision makers, regulators, and investors, to exchange their views and experiences on opportunities in the Nigerian Islamic finance market.
It will feature a mix of panel sessions, onstage interviews and interactive sessions on a number of themes in Islamic finance including, Corporate Financing and Capital Raising in Nigeria.

Other speakers confirmed for the event include Ms Patience Oniha, Director-General, Debt Management Office of Nigeria; Hajia Aisha Dahir-Umar, Acting Director-General, National Pension Commission; Jude Chiemeka, Divisional Head, Trading Business, NSE; Hajara Adeola, Managing Director/CEO, Lotus Capital; Adeola Sunmola, Partner, Udo Udoma & Belo Osagie and Oluseun Olatidoye, Head, Debt Capital Markets, FBNQuest Merchant Bank.
Commenting on the forum, Chiemeka noted: “Islamic assets are gaining momentum as an alternative investment avenue in Nigeria and globally.

“The IFN Nigeria Forum affirms our commitment to stimulating non-interest capital market products innovation. It will offer us the opportunity to deepen our engagement with our stakeholder. It will also provide us with important insights that will enable us to take a leap forward in the development of innovative and practical solutions to propel the Islamic capital market which will aid Nigeria in achieving its Sustainable Development Agenda,” he stressed.
The roadshow is billed to continue thereafter in Kenya and South Africa, two of the most likely markets to see Shariah-compliant financing flourish in the coming years.

https://investdata.com.ng/2019/06/nse-partners-redmoney-to-boost-islamic-finance-in-nigeria/

Unity, Union Banks, Two Others Report N384.784bn Negative Retained Earnings

There are indications that all may not be well with four Nigerian banks, after all, judging by their negative retained earnings and raising concerns among analysts and investors that the situation may impact some of their healthy peers.

According to data by analysts at Investdata Ltd, the quartet: Unity, Sterling, Union, and Jaiz banks reported negative retained earnings of N384.784bn in the 2019Q1, slightly better than the N401.282bn in the full year ended December 31, 2018.

Directors of companies with negative retained earnings cannot propose the payment of dividend to shareholders for as long as the situation subsists.
In the period, Unity Bank recorded the biggest negative retained earnings of N339.556bn at the end of 2019Q1, which dropped by 2.71% from N349.021bn at the end of 2018, just as shareholders funds was negative N243.686bn. up from the prior year’s N242.193bn.
It was followed by Union Bank with N40.102bn negative retained earnings in the first quarter of 2019, after dropping from N44.38bn in 2018Q4, representing a decline of 9.63%.

Jaiz Bank’s negative earnings stayed flat at N4.574bn, just like in the 2018 full year; while Sterling Bank at N552m in the first quarter, recorded the most significant decline of 83.3% in the period under review, from the N3.307bn full year level.
The good thing, Unity Bank’s directors say, is that it is currently carrying a zero non-performing loan book, thereby extremely minimizing the bank’s credit exposure.

Its external auditors- Ahmed Zakari & Co, may not have shared that sentiment, given its recommendation in the report to shareholders urging them to consider a capital raising exercise, which says remains a key audit matter. The success of the exercise, it noted, would “reverse the bank’s negative shareholders’ funds and capital adequacy ratios and to provide assurance on the bank’s ability to carry on operations as a going concern.” The fresh capital is also expected to provide trading funds to strategically reposition the bank in the industry and improve its capacity to operate sustainably.

The auditors also noted that “a number of potential investors have indicated interests in participating significantly in the bank’s equity. Some have concluded their due diligence on the bank and are at various stages of negotiation.

Shareholders of Union Bank of Nigeria Plc held an extraordinary general meeting on Tuesday, June 11, 2019, and approved the board’s recommendation of a capital reduction and share capital reorganization.
The directors sought to free the company of all encumbrances that has prevented it from paying dividends.

Specifically, the board wants to clean up its balance sheet by writing off Union Bank’s established accumulated loss of N54.458bn in its profit and loss account arising from legacy transactions, in addition to the N247.868bn approved by shareholders in 2017.
The N54.458bn losses will, subject to shareholders’ consideration and approval at the EGM, be written off the bank’s N187.091bn share premium account, reducing it at N132.633bnwhile leaving the aggregate shareholders’ funds unchanged.

According to an explanatory note on the capital reduction, “it would have no impact on the bank’s creditors but rather, pave the way for the bank’s investors to receive dividends out of the bank’s future profit.”

The retained deficit will, therefore, be cleaned out post-transaction, leaving N6.722bn earnings.
This will make it the second time Union Bank is cleaning its books in seven years, after doing same in its 2012 financials when it concluded its “recapitalization and clean up of our loan portfolio.”

https://investdata.com.ng/2019/06/unity-union-banks-two-others-report-n384-784bn-negative-retained-earnings/

Investdata Daily Sentiment Report as at June 18, 2019

NSEASI buy 3% sell 97% volume index 7.75 MFI 25.19
Access buy � MFI 66.30
Aiico buy 0% volume index 2.12 MFI 45.83
Cutix buy 0% volume index 1.62 MFI 37.82
Dangflour buy 50% sell 50% MFI 24.11
Fbnh buy 0% MFI 49.30
Fcmb buy 0% MFI 83.47
Fidelity buy 7% sell 93% volume index 3.07 MFI 64.01
Fmn buy � volume index 2.84 MFI 23.97
FO buy � volume index 6.18 MFI 70.25
GT buy 0% MFI 49.56
Jaiz buy 0% MFI 26.14
Japaul buy 0% MFI 49.45
Lasaco buy 0% MFI 3.13
Nahco buy 0% volume index 3.05 MFI 3.10
Oando buy 0% volume index 0.88 MFI 18.04
Royalex buy 0% volume index 0.77 MFI 46.14
Transcorp buy � MFI 25.55
Uacn buy 0% MFI 33.25
Uba buy 0% MFI 24.32
Ucap buy 8% sell 92% volume index 0.87 MFI 50.98
Wapic buy � volume index 0.82 MFI 76.49
Wema buy � volume index 29.28 MFI 99.44
Zenith buy � MFI 46.93

https://investdataltd..com/2019/06/investdata-daily-sentiment-report-as-at_18.html

NGSE Downtrend May Slowdown On Imminent Return Of Bargain Hunters

Market Update for June 17
Trading on the Nigerian Stock Exchange (NSE), suffered another setback Monday, starting off the week on a negative note, despite the listing of 1.88bn shares to those of Ellah Lakes Plc (READ MORE). Monday’s loss reversed previous session’s seeming upmarket as sell-offs in high cap stocks persisted in the midst of low liquidity, dwindling confidence and unclear economic direction with the delay in announcement of a new cabinet, three months after the re-election of President Muhammadu Buhari for a second and final four-year term in office.

Recall that the lack of economic direction and late appointment of ministers in the administration’s previous dispensation was part of the factors that resulted in a full-blown recession. Already, there are tell-tale signs of a repeat situation as shown by economic indices.
Also on Monday, Nigeria’s National Bureau of Statistics .released the consumer price index, which rose for the second consecutive month, with May inflation rate at 11.40%, from 11.37% in April (READ MORE). Note that growth in the nation’s Purchasing Managers’ Index (PMI), according to to the latest report has slowed down, expanding by 57.8 points from 57.7 points in the previous month.
The quality of cabinet members and policy articulation will, expectedly, show the government’s focus and whether Nigerians would see tangible economic reform policies that can propel national productivity and create jobs.

The NSE index opened Monday, trading on a slight upside up to the mid-morning session before pulling back between the midday and afternoon, after touching intraday low of 29,933.25 basis points from its high of 30,087.86bps. It then closed the day lower at 29,937.83bps, after breaking down the 30,000 psychological line amidst negative market breadth.
Monday’s market technicals were negative and mixed with a higher volume traded than the previous day’s amidst high selling pressure that favoured the bears. This was confirmed by Investdata’s Daily Sentiment Report showing ‘sell’ position of 97% and ‘buy’ volume of just 3% of the total daily transaction volume index of 7.75.
The momentum behind the day’s performance was weak and down, reflecting the continued down market, as Money Flow Index read 25.19points, a sharp drop from previous day’s 49.07bps, indicating funds are leaving the market.

Index and Market Cap
The benchmark NSE All-Share index lost 110.37bps, closing at 29,937.83bps, after opening at 30,046.73bps representing 0.37% decline. Market capitalization lost N40.63bn, closing at N13.19tr, from its opening value of N13.27tr, or 0.31% value loss. The difference resulted from the news shares listed for Elah Lakes.
Attention: If you haven’t signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new favorite stocks of the most revered traders and investors in corporate Nigeria to our watchlist, these stocks are with double potentials. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The session downturn was due to the continued selloffs in high cap stocks like Dangote Cement, MTN Nigeria, Guaranty Trust Bank, Guinness Nigeria, UACN, UBA, and Oando, among others. This raised the Year-to-Date negative position of the NSE to 4.75%, just as market capitalization gain dropped to N1.38tr, or 13.87%, from the year’s opening level of N11.72tr.

Bullish Sector Indices
All sectoral indexes closed green, except for the NSE Industrial Goods which closed 0.45% red, while the NSE insurance led the advancers after gaining 0.49%. It was followed by consumer goods with 0.38%, while Oil/Gas and Banking notched 0.30% and 0.16% respectively.
Market breadth remained negative as decliners outnumbered advancers in the ratio of 20:16, just as market activities were up in volume and value traded by 1,867.26% and 36.05% to 2.86bn shares worth N3.92bn from the previous day’s 145.28m units valued at N2.83bn. The day’s volume was driven by financial services and industrial stocks like Wema Bank, Fidelity Bank, Thomas Watt, Zenith Bank, and Access Bank.
The best-performing stocks for the day were Prestige Assurance and Forte Oil as they topped the advancers’ table with 10% and 9.86% respectively to close at N0.55 and N32.30 per share respectively on market forces. On the flip side, Royal Exchange and Nahco lost 8.33% and 6.35% respectively, closing at N0.22 and N2.80, on market forces and profit-taking.

Market Outlook
We expect mixed performance and the downtrend to slowdown as bargain hunters are likely to hit the market any moment from now, attracted by the low stock prices to position for March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are expected on board as Central Bank of Nigeria (CBN) had started rolling out plans and guidelines on how to lend to the private sector to boost economic activities and investment in different industries.

Investors look to government’s policy direction as the market faced low liquidity problems in pre and post-inauguration season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

Take Action
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set.

The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text Stock to 08028164085, 08032055467, 08111811223 now.

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/2019/06/ngse-downtrend-may-slowdown-on-imminent-return-of-bargain-hunters/