Investdata Weekly Sentiment Report

NSEASI buy 56% sell 44% volume index 1.60 MFI 42.63
Access buy � volume index 2.91 MFI 80.16
Afrprud buy � volume index 1.26 MFI 54.89
Aiico buy 67% sell 33% volume index 2.18 MFI 66.67
Cadbury buy 0% volume index 0.90 MFI 28.61
Cap buy 0% volume index 24.20 MFI 1.89
Caverton buy 0% MFI 29.78
Ccnn buy � volume index 0.86 MFI 62.17
Chams buy � MFI 37.42
Chiplc buy 67% sell 33% volume index 1.06 MFI 44.37
Continsure buy � MFI 85.86
Corner buy � MFI 90.54
Custodian buy � MFI 5.13
Cutix buy 0% volume index 0.81 MFI 55.18
Dangcem buy 0% MFI 27.81
Dangsugar buy 0% MFI 43.95
Eti buy � MFI 59.79
Fbnh buy 91% sell 9% MFI 59.12
Fcmb buy � MFI 48.54
Fidelity buy 47% sell 53% volume index 1.68 MFI 55.60
Fidson buy 71% sell 29% volume index 6.84 MFI 22.68
Fmn buy � MFI 78.75
GT buy � MFI 36.92
Honyflour buy 57% sell 43% volume index 2.79 MFI 55.55
Jaiz buy � volume index 21.95 MFI 97.87
Lasaco buy 50% sell 50% MFI 52.69
Lawunion buy � volume index 21.25 MFI 97.44
Lvstk buy � MFI 39.04
M&B buy 0% MFI 82.34
Nahco buy 0% MFI 65.77
Nestle buy 0% volume index 0.94 MFI 58.77
Npf buy 0% volume index 1.07 MFI 52.67
Oando buy 0% MFI 43.30
Presco buy 0% volume index 1.40 MFI 0.00
Pz buy 0% volume index 1.51 MFI 47.71
Regalins buy 50% sell 50% volume index 1.42 MFI 100.00
Stanbic buy 0% volume index 2.03 MFI 49.15
Transcorp buy 67% sell 33% MFI 51.44
Uacp buy 0% MFI 68.39
Uba buy � volume index 3.04 MFI 80.85
Ucap buy 31% sell 69% volume index 0.98 MFI 56.35
Unilever buy 0% MFI 30.51
Uniondac buy 0% MFI 64.02
Unity buy 80% sell 20% volume index 2.22 MFI 11.62
Vitafoam buy 17% sell 83% volume index 0.81 MFI 26.77
Wapco buy � volume index 2.50 MFI 59.78
Wapic buy 33% sell 67% MFI 14.68
Wema buy 25% sell 75% MFI 61.75
Zenith buy 27% sell 73% volume index 2.20 MFI 37.97

https://investdataltd..com/2019/11/investdata-weekly-sentiment-report_10.html

Expect Mixed Trading On Value Investing, Selloffs, On Portfolio Alignment Ahead Of Year-end


Market Update for November 7
The continued pullback and volatility on the Nigerian Stock Exchange (NSE) on Thursday is another clear reflection of the lingering low investor confidence and liquidity which had prevailed for months. This is despite the fact that bargain hunters are cashing in on low-priced stocks at different intervals, creating movements and activities in various sectors and stocks. It is true that the low valuation in the market could support gains in the nearest future for intelligent investors that position at these current equity prices.

The All-Share index extended its losing streak for the third consecutive session, closing lower on a higher traded volume, after the market, in the past five trading days of the month recorded just one gain and four losses for the other four sessions. The way investors are going for value stocks is reflecting in the price movement and pattern of accumulation on the exchange.

Trading on Thursday opened slightly green in the early hours of the session before pulling back to oscillate between the mid-morning and afternoon on profit-taking and sell down in blue-chip stocks. This pushed the NSE index to an intraday low of 26,172.35 basis points, from its high of 26,242.53bps, before retracing up marginally to close lower at 26,188.24bps.

The session market technicals were negative and mixed, with higher volume traded than the previous day’s with breadth favouring the bears, amidst negative sentiments, as revealed by Investdata’s reports showing a ‘sell’ volume of 77% and 23% buy’ position. The transaction volume index stood at 2.95, while energy behind the day’s performance remained weak, as Money Flow Index slowed down to 35 points, from the previous session’s 38.62bps. This is an indication that funds exited the market, just as Unilever Nigeria, Fidson Healthcare and the NSE Consumer Goods index touched yet another new 52-week low.

Index and Market Cap
At the end the day’s trading, the benchmark NSEASI closed at 26,188.24bps from its 26,223.66bps opening, representing a 0.14% drop, just as market capitalization dropped by N17.24bn, closing at N12.75tr from an opening value of N12.77tr, which also presented a 0.14% value loss.
Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of 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 at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.

The session’s downturn resulted from profit booking and selloffs in Zenith Bank, Stanbic IBTC, Lafarge Africa, Dangote Sugar, FBN Holdings, Consolidate Hallmark Insurance, Honeywell Flour Mills and Transcorp Plc. These impacted negatively on the NSE’s Year-to-Date loss, lifting it to 16.68%, while the YTD gain in market capitalization dropped to N1.03tr, representing 8.77% up from the year’s opening value of N11.72tr.

Bearish Sector Indices
All the sectoral performance indexes were largely down, except for the NSE Banking index which closed 0.66% higher, while the NSE Consumer Goods index led the decliners, after shedding 1.10%, followed by the NSE Industrial Goods by 0.03%. Meanwhile, NSE Industrial goods and Oil/Gas indices closed flat.
Market breadth was negative as decliners outnumbered advancers in the ratio of 16:9, while market activities were mixed as volume traded was up significantly by 212.75% to 726.19m shares from the previous day’s 232.22m units, while value slipped slightly by 4.91% to N2.97bn from midweek’s N3.12bn. The day’s volume was boosted by transactions in Jaiz Bank, Access Bank, Zenith Bank, Lafarge Africa and FBN Holdings.

Regency Assurance and Chams were the best-performing stocks, topping the advancers table, after gaining 5% and 4.53% respectively to close at N0.21 and N0.24 each, on the back of positive sentiments for the ongoing industry recapitalization and impressive Q3 numbers. On the flip side, Unilever and Fidson Healthcare lost 9.98% and 9.72% respectively, closing at N21.65 and N3.25 on unimpressive earnings and negative sentiment.

Market Outlook
Being the last trading day of the week, ahead of long weekend due to the declaration of Monday as a public holiday by the Federal Government, we expect the mixed performance to continue on the back of value investing and selloffs. Meanwhile, we note that the market would continue interpreting the Q3 scorecards to enable them to align their portfolios, in expectation of improved liquidity and positive economic data. This is especially as the NSE’s new lows offer investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.

Also, traders and investors need to change their trading strategies due to the review of the NSE’s pricing methodology, now that all class of equities need uniform 100,000 units to effect any price changes. This may be part of efforts to mitigate the persistent price decline that has seen many stocks trading at between their five and ten-year lows and even more, in recent times.

https://investdata.com.ng/2019/11/expect-mixed-trading-on-value-investing-selloffs-on-portfolio-alignment-ahead-of-year-end/#more

SEC DG Commends Healthy Competition Among Capital Market Operators, Says Uduak


Acting Director-General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk has Commended FMDQ Securities Exchange Plc on its achievements so far, saying its entry has brought about healthy competition in the Nigerian capital market.

FMDQ, she noted, has done very well since its entry into the terrane six years ago, increasing the tempo of activities in the nation’s capital market, besides offering another investment another outlet.
Addressing journalists at the Gold Awards and Dinner organised by FMDQ in Lagos on Friday, the SEC boss expressed delight that “a lot of areas that seemed dormant before now, like the bond market has seen a lot of activities, because of the active trading on the FMDQ platform.
The exchange, she continued, according to a statement by Efe Ebelo, Head, Corporate Communications at the commission, has partnered with the regulator in several areas of training like derivatives among others.

“Since their entry, there has been competition and we are excited about the competition. Investors and operators now have a choice of where to go and that is a good one for the market” Uduk said.
While commending FMDQ for attracting capital to the market, she disclosed that the commission also has several initiatives in place to attract both local and foreign investors to the capital market.
For instance, Uduk continued, one important goal of the Capital Market Master Plan (2015-2025) is to transform the Nigerian capital market, making it competitive, while contributing its quota to developing the nation through funds mobilization. The Plan is hinged on four strategic themes, namely; Contribution to National Economy, Competitiveness, Market Structure, and Regulation & Oversight.
In contributing to the National Economy, Uduk said the SEC, in conjunction with the market, has worked on initiatives that simplified the process of raising capital and reduced time to market. The recent efforts towards developing the Nigerian commodities ecosystem and the Fintech space are also important contributions to the Nigerian economy.
“In order to enhance market competitiveness, the minimum capital requirements for capital market operators were raised, transaction costs have been reduced for both equities and fixed income segment of the market, a robust complaint management framework was introduced and various other initiatives are being implemented to enhance the liquidity of the Nigerian capital market.
“Towards improving the Market Structure, minimum operating standards for all market operators have been implemented. Some of the ongoing initiatives such as the e-dividend, multiple subscriptions, direct cash settlement and electronic distribution of companies’ annual reports are geared towards achieving an innovative market structure.

On regulation and oversight, the Acting DG said the SEC has undertaken numerous initiatives to protect the interest of investors, just as a National Investor Protection Fund, a Risk-Based Supervision Framework is being implemented with focus on Systemically Important Financial Institutions (SIFI), while regulatory actions are often taken against illegal operators as well as violators of the corporate governance code.

According to Uduk, “therefore, not only do we need capital inflow, but we also have the market and the potential to optimise such flows. As we continue to improve on our macroeconomic, business and regulatory environment, we look forward to being able to retain more domestic capital and attract necessary foreign capital”.

Caption: From left to right, Governor Babajide Sanwo-Olu of Lagos State; Ms. Mary Uduk, Acting Director-General, Securities and Exchange Commission, SEC; Bola Onadele Koko, Managing Director, FMDQ Group; and Emmanuel Ukeje, Representative of the Central Bank of Nigeria (CBN) governor, at the FMDQ 2019 Gold Awards in Lagos, weekend

https://investdata.com.ng/2019/11/sec-dg-commends-healthy-competition-among-capital-market-operators-says-uduk/#more

Will Your 2020 Investment Plan Succeed by Accident.

Ambrose Here Again,

If you insist on leaving your fate to the gods, then the gods will repay your weakness by having a grin or two at your expense. Should you fail to pilot your own ship, don't be surprised at what inappropriate port you will find yourself docked.

Serious investors refuse to let go their quest for financial freedom either in a bull or bear market. They chew on it just as a dog chews on the same old bone for hours.

Just as a dog guards the bones safely when not actively chewing it, serious investors nurture their investments against all odds in the market. That is, they follow instructions of the expert to know exactly when to take action on the market.

However, the true mark of a serious investor are.

1. An ability to sense which stocks are like to yield the best ROI when the real bull market is commencing.

2. Your confidence that you will definitely make a difference in the market.

3. A rugged persistence that will keep you going when others would give up.

Hence, your success in your 2020 financial year is not in the hands � of the government though government policies might affect the market but 80% of the call is in your own hands. So, make the decision to do whatever it takes and get the best out of 2020 through proper planning.

As a result, I have done a short and comprehensive video regarding the big investment opportunities in year 2020, how you can position yourself and when to position yourself.

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http://workshop.investdataonline.com


Happy Trading,
Ambrose Omordion

Investdata Price & Earnings Tracking For Week Ended November 8, 2019

https://investdata.com.ng/2019/11/investdata-price-earnings-tracking-for-week-ended-november-8-2019/

NGSE Indicators Soar Higher, As CBN’s Squeeze, Better Yield, Lures Investors To Equities


Market Update for November 12
Tuesday’s trading activities on the Nigerian stock exchange (NSE) sustained the previous session’s upward trend with the benchmark index closing higher to start the week on a positive sentiment after the public holiday declared by the Federal Government on Monday.

The improving buying momentum signals the fact that investors are taking advantage of low prices in the market to position early ahead of year-end, as well as the expected release of major economic data. Some analysts also see a direct link between the crash in deposit rate to single digit in the money market, as banks play safe to avoid regulator hammer in relation to the 65% Loan-Deposit Ratio directed by the Central Bank of Nigeria (CBN) by end of December.

The big drop in the rate for fixed deposit and other money market instruments seen for most of 2019 has made equities much more attractive from a Dividend Yield perspective, which is one reason a sector like banking had rebounded in the past few days. Most banking stocks pay high dividends, which look attractive when compared to fixed income market yields.

Even so, in recent times, the yields of some listed companies are higher than inflation and the CBN Monetary Policy Rate of 11.24% and 13.5% respectively.
With the NSE’s dividend yield currently at 5.08%, looking at the nation new capital formation, the CBN’s directives and flow of funds, the possibility of Treasury Bill rates crashing very soon is high, as the Monetary Policy Committee (MPC) prepares to hold its final meeting for 2019.

Meanwhile, the NSE’s index opened Tuesday’s trading on the upside in the early hours and sustained it till the afternoon, despite the oscillating market forces of accumulation and profit booking. This pushed the index to an intraday high of 26,513.60 basis points, from its low of 26,314.49bps, before pulling back while closing the day higher at 26,456.39bps on above average traded volume.

Market technicals for the day were positive and mixed, with traded volume lower than the previous day’s in the midst of positive breadth and higher buying pressure, as revealed by Investdata’s reports showing a ‘buy’ volume of 72% and ‘sell’ position of 28%.
The day’s Transaction Volume Index stood at 1.45, while the momentum behind the day’s performance improved, with Money Flow Index reading 51.66 points, from the previous session’s 42.05bps. This is an indication that funds entered some stocks and the market.

Index and Market Cap
At the end the day’s trading, the benchmark NSE All-Share Index gained 141.90 to close at 26,456.39bps from its 26,314.49bps opening, which represented a 0.54% gain, just as market capitalization was up by N69.08bn, closing at N12.88tr from an opening value of N12.77 trillion, which also presented a 0.54% value loss.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of 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 at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.

The day’s upturn was driven by demand for stocks like Dangote Cement, MTNN, Guaranty Trust Bank, Zenith Bank, Stanbic IBTC, UBA, Access Bank, CCNN, NB, UACN, Consolidate Hallmark Insurance and Honeywell. These impacted positively on the NSE’s Year-to-Date loss, which reduced to 15.83%, while market capitalization gain inched to N1.16 trillion, representing 9.88% up from the year’s opening value of N11.72tr.

Bullish Sector Indices
All the sectoral performance indexes closed green, except for the NSE Oil/Gas index which closed flat. The NSE Industrial Goods index led the advancers, after gaining 1.56%, followed by NSE Banking with 1.35%, while NSE Consumer Goods and Insurance closed climbed 0.33% and 0.21% up respectively.

Market breadth was positive as advancers outnumbered decliners in the ratio of 18:11, while market activities were mixed with volume traded dropping by 12.52% to 378.35m shares, from the previous day’s 432.47m units, while transaction value rose 28.17% to N7.15bn from Tuesday’s N5.58bn.

Volume was boosted by transactions in Zenith Bank, Access Bank, Guaranty Trust Bank, Nigerian Breweries and Fidelity Bank.
CCNN and Union Diagnostic were the best-performing stocks, topping the advancers table, after gaining 9.14% and 9.09% respectively to close at N19.10 and N0.24 each, on the back of positive sentiment for the ongoing merger process with Obu Cement, as well as market forces. On the flip side, Ikeja Hotel and Courtville Business Solution lost 9.28% and 8.70% respectively, closing at N0.88 and N0.21on market forces

Market Outlook
We expect stocks to continue wobbling on the back of value investing and reduced selloffs as market players digest the Q3 scorecards and align their portfolios along those with impressive numbers, in expectation of improved liquidity and positive economic data such as inflation number billed to hit the market on Friday. The recent NSE’s new lows offer investors opportunities to position for short and medium-to-long-term views.

We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.
Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future. And other fiscal policy initiative that may provide liquidity for the economy and market

However, with less than 60 days into the year 2020, you need to start planning now because it is either you plan to succeed in 2020 or you don’t decide. Instead, you fold your hands means you are planning to fail. So, this practical summit is first of its kind because a team of experts will reveal pure practical trade ideas and opportunities in 2020 that will help participants recoup losses and maximize returns no theory.

That is, what you can apply or implement immediately and start tracking the result by yourself.

Want to be among the successful investors and traders in 2020 send Yes 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/2019/11/ngse-indicators-soar-higher-as-cbns-squeeze-better-yield-lures-investors-to-equities/

*In this bear market, Will This Help?*

Who Dares Always Win in Life...

With the current bearish market, I've been receiving series of questions from investors in my buying and selling membership which is made up of over 600 members. All questions seems to be a normal one because nobody likes loosing their hard earned money via emotions and information that are available in the market.

However, the question is what do we really need to do? Is it luck or a TACTICS and strategy like SWAT.

I know that you might be thinking what does S.W.A.T mean. SWAT means Special Weapons and Tactics. It is a unit within a police force that is trained to deal with situations of unusual danger, especially when requiring aggressive tactics or enhanced firepower, as in rescuing hostages, thwarting terrorist attacks or assassinations, and subduing heavily armed suspects. You just have to decide the best approach to tackle issues.

Hence, what tactics do you have in place to face year 2020?

You don't need to think too much. Click on the below link and follow the instructions if you have not yet register earlier. THE video is short and concise on *Turning Fear in equity investment to opportunity*


you need a simple and effective tactic to flourish in your 2020 investment year. So, don't forget that a goal without plan is just a mere wish and by failing to plan, you are planning to fail.

Happy Trading
Ambrose Omordion

http://workshop.investdataonline.com

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

To Your Success
Investdata Consulting.

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

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

Investdata Daily Sentiment reports as of November 12, 2019

NSEASI buy 72% sell 28% volume index 1.48 MFI 51.66
Access buy 94% sell 6% MFI 2.73 MFI 97.00
Aiico buy 0% volume index 2.59 MFI 74.97
Ccnn buy 91% sell 9% volume index 14.52 MFI 97.31
Chams buy � volume index 2.28 MFI 12.80
Chiplc buy � volume index 1.71 MFI 72.29
Continsure buy 0% volume index 1.05 MFI 80.13
Dangcem buy � volume index 0.93 MFI 66.67
Fbnh buy 0% volume index 1.01 MFI 48.25
Fcmb buy 0% MFI 74.85
Fidelity buy 0% volume index 2.02 MFI 82.39
GT buy 44% sell 56% volume index 1.57 MFI 46.10
Honyflour buy � volume index 7.19 MFI 67.78
Jaiz buy 17% sell 83% MFI 97.54
Lasaco buy 0% volume index 1.73 MFI 63.60
Mtnn buy � volume index 3.39 MFI 23.71
Oando buy 0% volume index 2.36 MFI 41.21
Stanbic buy � volume index 1.96 MFI 32.63
Transcorp buy 33% sell 67% volume index 1.28 MFI 25.96
Uba buy 90% sell 10% volume index 0.96 MFI 78.25
Unity buy 0% volume index 1.44 MFI 25.46
Wapco buy 8% sell 92% MFI 43.10
Wapic buy 0% volume index 2.87 MFI 50.45
Wema buy � volume index 1.78 MFI 67.26
Zenith buy 0% volume index 1.95 MFI 65.08

https://investdataltd..com/2019/11/investdata-daily-sentiment-report-as-of_14.html?m=1

Aftermath Of Olam Acquisition: NGSE Delists Dangote Flour Mills


Shareholders of Dangote Flour Mills Plc, on Monday in Lagos, unanimously approved the acquisition of the company by Crown Flour Mills Limited, the Nigerian subsidiary of global food and agri-business conglomerate, Olam International Limited after paying N120bn to the shareholders (READ MORE).
Olam International has made an offer for the acquisition of 100% equity in Dangote Flour Mills Plc for consideration of N24.00 per share through a Scheme of Arrangement.

Following the acquisition, the entire 4,994,886,771 ordinary shares of DFM held by the scheme shareholders of the company will be transferred to Crown Flour, in exchange for N24 per share that will be given to the shareholders for each unit held. This represents a 124% premium on the share price of DFM as at the close of April 18, 2019, being the last business day prior to the date the proposal was received and announced on the Nigerian Stock Exchange (NSE); and a 145% premium on the three-month weighted average share price of the company as at 18 April, 2019.
Most of the shareholders who spoke at the meeting lauded the company’s management for acting in their best interest.

Nona Awoh, a financial analyst and shareholders of the company, while appreciating the Management on the offer of N24 per share, reminded other shareholders that the last time the share price of the company increased significantly to N20 per share was in 2010.
Managing Director of Crown Flour Mills Limited, Anurag Shukia said his company intends to maintain and expand DFM’s business as well as provide enhanced manufacturing capacity and create synergies to deliver improved products to customers across the country.

Photo caption: Chairman of Dangote Flour Mills Plc, Asue Ighodalo making a point at the company’s court-ordered meeting in Lagos on Monday, October 14, 2019. He is flanked by the company’s Executive Director, Commercial, Halima Aliko Dangote (left); Company Secretary/Legal Adviser, Aisha Isa (second left); the Chief Executive Officer, Thabo Mabe (second right); and Group Managing Director, Dangote Industries Limited, Olakunle Alake (right).

NGSE Index Bows To Profit Taking Pressure, Inflation Fears, As Investors Realign Portfolios
Market Update for November 18
Trading activities on the Nigerian Stock Exchange (NSE) on Monday bowed to the expected profit-taking pressure, capital wave and disappointing inflation report for October which rose to 17 months high at 11.61%, from September’s 11.24%. The rise in Consumer Price Index further dragged returns on Treasury Bills into negative territories, following which fixed income market yields are already threatened. This is due to the clash in fiscal and monetary policies arising from the impact of the three-month closure of Nigeria’s land borders to check smuggling. Although, the effects of the closure have not all been negative, given the drop in the country’s consumption of petroleum products. There is also inflationary impacts such as the heavy rainfall that affected farm produce, the increasing demand for goods in preparation for the festive season that is just weeks away, as well as the recent drop in money market rates that further pushed inflation up, as a result of the expected increase in consumption.

When we factor in the latent impact of the border closure and subsequent rise in food prices, Nigeria’s effective inflation rate may actually be around 16%, which is one reason foreign investors are watching with concern to see how long the country can defend its Naira before it completely unravels the hidden effects of the policy mismatch and summersault on the economy. Low and falling inflation, according to analysts, indicates that the economy has considerable spare capacity, implying that there is scope for monetary policy to support further gains in employment without risking economic overheating.

Also, a low-interest rate will support and drive economic growth by making available, cheap funds that will make housing more affordable, for example, and allow more homeowners to refinance. Lower corporate bond rates will encourage investment, just as higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will ultimately lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.

Meanwhile, Monday’s trading opened on the downside as profit booking from last week’s rally hit the market and was sustained all day long, despite the oscillation during the session, as the NSE index touched intraday low of 26,666.40 basis points, from its high of 26,851.68bps. It, therefore, closed the day lower at 26,691.09bps on a low traded volume.
Market technicals for the session were negative and mixed in the midst of positive breadth and mixed sentiment as revealed by Investdata’s reports showing a 'buy' volume of 52% and ‘sell' position of 48%. The day’s Transaction Volume Index stood at 1.01, while the momentum behind the day’s performance slowed down with Money Flow Index reading 50.84 points, from the previous session’s 57.87bps. This is an indication that funds exited some stocks and the market as funds flow to FGN Bonds.

Index and Market Cap
At the end of Monday’s trading, the All-Share Index lost 160.59bps, closing at 26,691.09bps from its 26,851.68bps opening, which represented a 0.60% decline, just as market capitalization lost N188.76bn, closing at N12.88tr, from an opening value of N13.07tr. This represented a 1.44% value loss, resulting from Monday’s delisting of Dangote Flour Mills, following its acquisition by Olams International through its subsidiary- Crown Flour Limited (<a href="https://investdata.com.ng/2019/11/aftermath-of-olam-acquisition-ngse-delists-dangote-flour-mills/">READ MORE</a>.

Attention: If you have not signed up for Investdata buy and sell signal setup, don't delay. We have just added another risk management feature and new stocks of 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 at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.
The day’s decline was driven by profit-taking in stocks like Zenith Bank, Access Bank, UBA, FBN Holdings. Ecobank Transnational Incorporated, Wema Bank, Okomu Oil, and Transcorp Plc. These impacted negatively on the NSE’s Year-to-Date loss, which increased to 15.08%, while market capitalization gain dropped to N1.16tr, representing 9.91% growth over the year’s N11.72tr opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for NSE Banking that closed 2% lower on profit-taking, while the NSE Consumer Goods index led the advancers, after gaining 0.42%, followed by the NSE Insurances index which climbed 0.01% up, just as the NSE Industrial Goods and Oil/Gas closed flat.

Market breadth remained positive as advancers outnumbered decliners in the ratio of 16:14, while market activities were down in volume and value traded by 34.48% and 54.56% respectively to 307.96m shares worth N2.54bn from previous day’s 459.99m units valued at N5.59bn. This volume was driven by transactions in UACN, Zenith Bank, UBA, Access Bank and FBNH.
Nemeith Pharmaceuticals and Jaiz Bank were the best-performing stocks, topping the advancers table, after gaining 10% and 9.86% respectively to close at N0.44 and N0.78 each, on the back of market forces and sentiments. On the flip side, Wema Bank and FCMB lost 7.89% and 7.50% respectively, closing at N0.70 and N1.99 purely on profit-taking and market forces.

Market Outlook
We expect mixed performance to continue on capital wave, profit-taking, repositioning in value stocks and portfolio adjustment as market players digest the Q3 scorecards and read unfolding sentiment in expectation of improved liquidity as interest rates drop in the money market ahead of MPC meeting. The recent NSE’s new lows offer investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.
Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future, as well as other fiscal policy initiatives that may provide liquidity for the economy and market.

Take Action
INVEST 2020: Opportunities and Trade Ideas Summit
Sub-Topics
A. Recession or Boom: Five Trading Strategies for Picking Best Stocks in Good Times or Bad- AlhajiGarbaKurfi, Managing Director of APT Securities & Funds Limited.
B. 2020 Global/Nigeria Macro-Economic Outlook & Sectors To Position, Mr. RazaqAbiola, Head, Corporate Strategy CSCS Nigeria Plc
C. Critical Chart Patterns For Pinpointing Stocks That Could Explode Higher In 2020- Mr. Abdul-Rasheed OshomaMomoh, Head, Capital Market, TRW Stockbrokers Limited,
D. Keys To Identify Opportunities In Stocks, Exchange Traded Fund (ETF) Fixed Income and Commodities Markets In Any Market Environment.- Engr. Ekwueme Mike Anaydibe, Head, Fixed Income Sales at TRW Stockbrokers Limited.
E. Mastering Earnings & Dividend Game Plan For 2020 Investing Opportunity & Beyond- Mr. Ambrose Omodion, Chief Research Officer, InvestData Consulting Limited,

Over the years, we have received requests from our followers, concerning our annual Traders & Investors Summit scheduled for December, where experts and analysts would x-ray investment and trading opportunities in the New Year.

At the forthcoming summit, participants would
• Learn from some of the best professionals in the market
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Expected Takeaways
• Pinpointing chart patterns for Profitable Trades and investing opportunities in an uncertain market environment
• Investment analysis and theses behind these ideas
• Special Earnings and Dividend Game Plan for 2020 investment opportunities
• Understanding the changing economy and trend for profitable investment
• How successful value fund managers research into and evaluate companies
• Exclusive insight and actionable value strategies from world-class professional Traders
• Over 10 Trading and investing tips for identifying undervalued Stocks you can buy now

Date: December 7, 2019
Venue: Ostra Hall & Hotels Ltd, Off OtunbaJobifele Way, Opposite NNPC Gas Plant C.B.D, Alausa, Ikeja Lagos, Nigeria.

However, with less than 60 days into the year 2020, you need to start planning now because it is either you plan to succeed in 2020 or you don’t decide. Instead, you fold your hands means you are planning to fail. So, this practical summit is first of its kind because a team of experts will reveal pure practical trade ideas and opportunities in 2020 that will help participants recoup losses and maximize returns no theory. That is, what you can apply or implement immediately and start tracking the result by yourself.

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Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdataltd..com/2019/11/ngse-index-bows-to-profit-taking.html

FG Records N378.98bn Deficit In Oct, As Federally-Collected Revenue Down 28%

Latest data by the Central Bank of Nigeria (CBN) showed that the fiscal operations of the Federal Government for the month of October suffered an estimated total deficit of N378.98bn, representing a significant 137.06% rise over the N159.87bn anticipated in the budget for the month.

According to the CBN’s Economic Report for the month, gross federally-collected revenue fell to N894.09bn, 28.2% below the N1.246tr budget estimate for the period; and 0.9% less than the previous month’s revenue.

The report attributed the decline, relative to the monthly budget estimate to (the) shortfall in both oil and non-oil revenue after oil receipts representing 64.6% of total stood at N577.3bn. It was below the monthly budget estimate of N798.83bn by 27.7%, even as it exceeded the N467.58bn earned in September by 23.5%.
“The decrease in oil revenue relative to the monthly budget estimate was attributed to shut-ins and shut-downs at some NNPC (Nigerian National Petroleum Corporation) terminals due to pipeline leakages and maintenance activities,” the report noted.

Also, the non-oil receipts for the month stood at N316.79bn or 35.4% of total revenue, which was below the monthly budget estimate of N447.24bn or 29.2%, and the preceding month’s N434.52bn or 27.1%.
The report blamed the drop in collection on the decline in revenue from corporate tax, Value Added Tax, Education Tax, and Federal Government’s independent revenue.

In all, the total allocation to the three tiers of government in October 2019 stood at N673.01bn, 38.3% lower than the monthly budget estimate of N1.09tr and the preceding month’s N676.9bn by 0.6%.
The Federal Government received an estimated N316.91bn as retained revenue for the period, 55.1% below the monthly budget estimate of N705.44bn. A breakdown showed that Federation.

Total federal expenditure for the period dropped from the N865.31bn monthly budget estimate by 19.6% to N695.89bn, just as it was also below the N949.56bn recorded in the preceding month by 26.7%.
A breakdown of the federal government’s expenditure for the month under review, according to the CBN, showed that recurrent gulped 57%, leaving 37.3% for capital spending, while transfers constituted 5.7%.

A further breakdown of the recurrent expenditure showed that non-debt obligation accounted for 76.8%, and debt service payments, 23.2%.
Within the period also, cumulative foreign exchange inflow into, and outflow from, the Nigerian economy stood at $10.89bn and $5.14bn, respectively, resulting in a net inflow of $5.75bn.

Total foreign exchange sales by the CBN to the authorised dealers for the period stood at $2.79bn, compared with $2.8bn in the preceding month, just as gross external reserves dropped to $39.6bn, compared with $40.7bn at the end-September 2019.

FG Records N378.98bn Deficit In Oct, As Federally-Collected Revenue Down 28%


https://investdata.com.ng/2019/11/fg-records-n378-98bn-deficit-in-oct-as-federal-revenue-down-28/

Devt Agenda Must Prioritise Jobs, Growth, Gender, For Africa’s Stability- Elumelu

Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa Plc, Tony Elumelu, has challenged African leaders to prioritise youth employment, inclusive growth and gender diversity to promote the continent’s development agenda for peace and stability.

Speaking at a high-level panel with President Macky Sall of Senegal, and Mohamed Ould Ghazouani, his Mauritanian counterpart, Elumelu stressed the urgency in tackling poverty, which remains the root cause of extremism in Africa.
He urged all stakeholders – the private sector, government, and development partners to collaborate to win the war against poverty and insecurity, in addition to stemming “the migration of our young people crossing the Mediterranean through harsh conditions, in search of hope.

“We know, and we say, that poverty anywhere is a threat to mankind everywhere. What manifests itself in what we call security breakdown or terrorism, or extremism is actually deeply rooted in poverty, in joblessness So with due respect, we can have 101 seminars like this but unless and until we begin to address these issues of poverty, joblessness amongst our young ones, they will continue to allow themselves to be brainwashed by people who see no future, and they will continue to engage in extremism,” he noted.
Africa, he stressed, has more opportunities and resources, calling for collaboration by all “to ensure that extremism is totally annihilated in Africa. It is possible but we need to work together to achieve this.”
While stressing the importance of discussing weaponry, and other means to deal with insurgency, lasting peace, he stressed, is only attainable in the long run by investing in young people across Africa.

He cited the impact of the Tony Elumelu Foundation’s $100m Entrepreneurship Programme as one practical way the private sector in Africa can intervene to bring about peace and stability on the continent.
Elumelu recalled the partnership between the United Nations Development Programme (UNDP) and the TEF to empower 100,000 young Africans in 10 years with a focus on the Sahel region for its first year, besides those with international development agencies like the GIZ and the International Committee of the Red Cross.

He reiterated that only “activities and interventions like this will help to bring economic hope to people in this part of the world and they will become less involved in extremism. We support these young ones and we are beginning to see how their successes are translated into better and more secure communities.”
Elumelu pointed out that businesses cannot flourish, or countries attract global private capital needed for large infrastructure projects and long-term investments which can help to fix the economy, where there is extremism and people are afraid for their lives.

Also speaking, President Macky Sall agreed for public sector to collaborate with the private sector in tackling poverty on the continent, because according to him, “addressing the threats cannot be done on a standalone basis due to the fact that the challenges know no borders.”
He called for a more collaborative approach to alleviate violence and extremism to boost investments in Africa.
Other speakers on the panel included Florence Parly, Defence Minister of France; and Pierre Buyoya former President of Burundi and representative of the African Union.

Caption: L-R: Pierre Buyoya, former President of Burundi and representative of the African Union; H.E. Mohamed Ould Ghazouani, President of Mauritania; H.E. Macky Sall, President of Senegal, Florence Parly, Minister of Defence, France and Tony. O. Elumelu C.O.N, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa Group (UBA); at a high-level panel on Peace and Security in Africa at the Dakar International Forum on November 18, 2019.

https://investdata.com.ng/2019/11/devt-agenda-must-prioritise-jobs-growth-gender-for-africas-stability-elumelu/#more

NGSE Index Seeks Direction, As Investors Digest Impacts Of Emerging Economic Data, Devts

Market Update for November 19
The Nigerian Stock Exchange closed higher on Tuesday, halting the previous day’s loss position in the midst of profit-taking, amidst the ongoing interpretation of recent economic data and corporate earnings in relation to the different investment windows as capital wave continued finding a destination for higher returns.
There are the telling effects of the expected rise in market liquidity level and indeed the economy at large, due to the sharp drop in money market rates, just as the Loans to Deposit ratio of banks has been raised from 60% to 65% at the end of this quarter. These are some of the measures put in place by the Central Bank of Nigeria (CBN) to make funds available to the private sector, for boosting productivity and economic activities necessary for driving national growth and development.

Tuesday’s trading started on the downside in the morning and rebounded at the mid-morning to the afternoon on a sustained oscillation during the session, as the NSE All-Share index touched intraday low of 26,659.90 basis points, from its high of 26,861.14bps. It finally finished the day higher at 26,739.44bps, on an above-average traded volume.

The session’s market technicals were positive and mixed, as volume traded was higher than previous day’s, with breadth favouring the bulls, just as there mixed sentiment dominated trading as revealed by Investdata’s reports showing a ‘buy’ volume of 40% and ‘sell’ position of 60%. The day’s Transaction Volume Index stood at 1.25, while energy behind the day’s performance slowed down with Money Flow Index reading 49.65 points, from the previous session’s 50.84bps, indicating that funds exited some stocks and the market, despite closing higher for the day.

Index and Market Cap
The All Share Index, at the end of Tuesday’s trading, gained 48.35bps, closing at 26,739.44bps from its 26,691.09bps opening, which represented a 0.18% up, just as market capitalization was up by N23.34bn, closing at N12.91tr, from an opening value of N12.88tr, which also represented a 0.18% value gain.

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Midweek’s upturn was driven by ‘buy’ interests in stocks like MTN Nigeria, FBN Holdings, UBA, Access Bank, Forte Oil, Conoil, UACN, NB, Dangote Sugar, and Honeywell. These impacted positively on the NSE’s Year-to-Date loss, reducing it to 14.93%, while market capitalization gain increased to N1.17tr, representing 10.09% growth from the year’s opening value of N11.72tr.

Mixed Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Oil/Gas and Consumers Goods that closed by 0.49% and 0.32% higher respectively, while THE NSE Insurance index led the decliners, losing 0.40%. It was followed by the NSE Industrial Goods and Banking indexes which fell by 0.38% and 0.11% respectively,
Market breadth remained positive as advancers outnumbered decliners in the ratio of 20:13, while market activities were up in volume and value traded by 28.05% and 157.48% respectively to 394.35m shares worth N6.54bn from previous day’s 307.96m units valued at N2.54bn. Volume was boosted by transactions in UACN, FBNH, Access BankZenith Bank and UBA.

Again Healthcare company, Ekocorp, and Conoil were the best-performing stocks, topping the advancers table, after gaining 10% and 9.74% respectively to close at N4.07 and N16.90 each, on the back of market sentiment and forces. On the flip side, ABC Transport and United Capital lost 8.89% and 5.22% respectively, closing at N0.41 and N2.18on profit-taking.

Market Outlook
We expect mixed performance to continue on a capital wave, profit-taking and repositioning in value stocks as market players digest the rising inflation and its impacts on investment returns. The changing sentiments in expectation of improved liquidity as interest rates drop in the money market ahead of the MPC meeting should guide investors. The current undervalued state of the market offer investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.
Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future, and another fiscal policy initiative that may provide liquidity for the economy and market.

https://investdata.com.ng/2019/11/ngse-index-seeks-direction-as-investors-digest-impacts-of-emerging-economic-data-devts/

Investdata Price & Earnings Tracking For Week end November 22, 2019

https://investdata.com.ng/2019/11/investdata-price-earnings-tracking-for-week-end-november-22-2019/#more

Investdata Weekly Sentiment Report

NSEASI buy 87% sell 13% volume index 1.06 MFI 58.65
Access buy 75% sell 25% volume index 1.38 MFI 82.72
Afrprud buy 60% sell 40% volume index 0.71 MFI 75.41
Aiico buy 0% volume index 3.72 MFI 57.24
Caverton buy � MFI 40.82
Ccnn buy 50% sell 50% MFI 67.38
Chams buy � volume index 1.29 MFI 52.82
Chiplc buy � MFI 45.02
Conoil buy � volume index 1.38 MFI 22.40
Corner buy � MFI 92.64
Cutix buy � volume index 1.11 MFI 53.44
Dangcem buy 40% sell 60% volume index 1.50 MFI 25.78
Dangsugar buy 81% sell 19% volume index 5.89 MFI 78.97
Eti buy 25% sell 75% volume index 1.16 MFI 69.13
Fbnh buy 77% sell 23% volume index 2.18 MFI 76.59
Fcmb buy 73% sell 27% volume index 0.92 MFI 60.71
Fidelity buy 50% sell 50% volume index 1.44 MFI 74.76
Fmn buy � MFI 80.27
Fo buy � volume index 1.07 MFI 40.58
GT buy 62% sell 38% MFI 50.56
Honyflour buy 40% sell 60% volume index 2.35 MFI 80.15
Jaiz buy 0% volume index 0.76 MFI 99.17
JBerger buy � volume index 0.74 MFI 36.91
Lasaco buy 0% volume index 1.35 MFI 41.04
Lawunion buy 83% sell 17% MFI 97.83
Learn buy 95% sell 5% volume index 1.64 MFI 41.10
Linkass buy 0% volume index 7.63 MFI 86.62
Lvstk buy � volume index 0.99 MFI 50.80
Mansard buy � MFI 46.86
Mtnn buy 16% sell 84% MFI 59.15
Nahco buy 10% sell 90% volume index 3.59 MFI 86.41
Nascon buy 0% volume index 0.74 MFI 25.92
Neimeth buy � volume index 4.37 MFI 39.28
Nem buy � volume index 0.97 MFI 71.73
Nestle buy � MFI 59.41
Npf buy � volume index 1.00 MFI 56.21
Oando buy 97% sell 3% volume index 0.97 MFI 59.47
Okomu buy � volume index 1.28 MFI 70.59
Pz buy 50% sell 50% volume index 1.56 MFI 40.48
Stanbic buy � MFI 50.95
Sterling buy 0% MFI 48.65
Transcorp buy 14% sell 86% volume index 0.84 MFI 57.70
Uacp buy � MFI 64.91
Uacn buy � volume index 8.75 MFI 84.10
Uba buy 65% sell 35% volume index 1.33 MFI 90.09
Ucap buy 40% sell 60% volume index 2.72 MFI 57.19
Unilever buy 0% MFI 27.52
Unity buy 0% volume index 2.20 MFI 49.54
Upl buy 85% sell 15% volume index 1.44 MFI 43.54
Vitafoam buy � volume index 1.13 MFI 37.83
Wapco buy 0% volume index 1.07 MFI 56.62
Wapic buy 33% sell 67% MFI 36.87
Wema buy 25% sell 75% MFI 78.54
Zenith buy 33% sell 67% volume index 0.75 MFI 60.35

https://investdataltd..com/2019/11/investdata-weekly-sentiment-report_24.html

Profit Taking Ahead, Amidst Month-end Window Dressing, Santa Claus Rally Market

Update for The Week ended November 22 and Outlook for Nov 25-29

The benchmark All-Share index of the Nigerian Stock Exchange (NSE) rallied in the past week on sustained positive sentiments as demand for equity assets increased as a result of the lower rate and declining yields in the fixed income markets. This was due to the unconventional monetary policy adopted by the Central Bank of Nigeria (CBN) that helped to release liquidity to the nation’s private sector and drive economic growth.

Despite the uptrend in stock prices, the two released economic data: the Consumer Price Index and the third-quarter GDP, had traces of mixed performance and weakness. While the CPI came in worse than expected at 11.61%, a spike up from 11.24% in September, Q3 GDP came stronger at 2.28%, as against the previous quarter’s 2.12%, which had been revised from the earlier stated 1.94%.

The Q3 GDP growth was despite a slowdown in some sectors and uptick in others, just as inflation rate jumped for the second consecutive month after falling to 11.02%, in August, its lowest point in three years.

Besides the nation’s land border closure, heavy rainfalls affected farm produce, just as imported food inflation combined to further heighten inflationary pressure during the month as demand for goods and services increased ahead of the oncoming festive period. The economic growth recorded in Q3 was despite the weak expansion in the oil sector, indicating that other sectors are gradually looking, thereby reflecting the impact of the CBN’s policy directives. This is a call to the fiscal authorities to complement the monetary policy initiatives by implementing the capital budget and in the process boosting the tempo of economic recovery.

Manufacturing sector activities picked up again in October, as shown in the Purchasing Managers Index (PMI), which moved 20 points to 57.90 points from the 57.70 points recorded in September 2019.
The global stock markets had a mixed performance during the week under consideration, despite the seemingly positive economic outlook for the rest of the year and 2020, as the trade war tension between the U.S and China slows down on the expected deal. This had left the stock market volatile through the week, but rebounded on Friday on news that President Donald Trump believes a trade deal is “very close”.

Movement Of NSEASI
Back home, the market maintained a positive buying interest on a higher traded volume during the period, despite the NSE index opening the week negative, after losing 0.60%, a situation that was attributed to profit-taking, as well as the delisting of Dangote Flour Mills, following the consummation after being acquired by Olams International for N120bn.

The loss was halted Tuesday when the index gained 0.18%, a situation that was sustained for the rest of the week on demand for Consumer Goods, Oil, Insurance and Banking stocks. On Wednesday, Thursday and Friday, the index gained 0.14%, 0.36%, and 0.44% respectively, bringing the week’s total gain to 0.52%.

The NSE All-Share index opened for the week at 26,851.68basis points and closed at 26,991.42bps, after testing an intra-week high of 27,039.80bps, on strong demand for all class of stocks.
Medium and low cap stocks dominated the top gainer table for the week as profit-taking hit highly capitalized stocks, with fund managers’ targeting high dividend-paying and blue-chip stocks ahead of the year’s final Monetary Policy Committee (MPC) meeting and the year-end. More stocks closed higher, following a capital wave in the local financial market.

Market breadth closed positive, with advancers outnumbering decliners in the ratio of 40:23, while the momentum behind the week’s performance came stronger with Money Flow Index reading 57.46bps, compared to 51.46bps in the previous week, indicating that funds entered some stocks and the market at large.

The week’s trading pattern showed that investors and traders are taking advantage of the prevailing low prices and expected an uptick in manufacturing activities, due to the impact of lower rates, resulting in reduced cost of funds and the consequent boost in demand expected to create employment. Also, Investdata Sentiment Report for the week revealed a strong buying pressure, with ‘buy’ volume at 87%, and ‘sell’ position of 13%, on a transaction volume index of 1.03.

NSEASI Weekly Time Frame
The positive momentum behind the current uptrend of the NSE Index suggests a bull rally in a bearish channel as revealed by the chart above. However, the sustainability of this trend is a function of market forces, depending also on the outcome of the two-day MPC meeting, which opens tomorrow in Abuja, and the continued flow of funds into undervalued equity assets. The daily and weekly candlestick patterns signal short-term profit-taking, being the last trading week for the month, ahead of the Santa Claus rally and end of year window dressing by fund managers and quoted companies.

On a weekly and daily time frame, MACD has turned bullish as the composite NSE index sustained an uptrend signaling the possibility of recovery as demand for stocks continues to look up in the midst of profit-taking. The recent economic data should strengthen investor confidence on the back of the recovery seen in the economy as demonstrated by the latest GDP data, as well as the buying interest in stocks that was seen during the week under review.

The NSEASI on a weekly time frame tested the 20-Day Moving Average as it is set to breakout or pullback, while on daily time frame, the index had broken out the 50-Day Moving Average on divergence in the index action and volume traded. It also signals a high possibility of reversal any moment from now on profit booking. The Relative Strength Index reads 39.77, indicates strength, despite being in the oversold region. However, money flow is reading 57.46 points and looking up on the weekly chart.

Mixed Sectoral Indices
The week’s sectorial performance indexes closed largely bullish, except for the NSE Industrial Goods and Banking that closed lower by 2.25% and 0.86% respectively, while the NSE Consumer Goods Index led the advancers after gaining 6.02%, followed by the NSE Oil/Gas and Insurance which were up 2.46% and 0.46%.
Market activities, in terms of volume and value for the week were down by 31.73%% and 49.07% respectively, as 1.42bn shares worth N17.25bn, exchanged hands as against the previous week’s 2.08bn units valued at N33.87bn. The week’s transaction volume was driven by heavy trading in UACN, FBNH and Access Bank. Also, during the week the share price of Airtel Africa, Global Spectrum Energy Service and Nigerian Breweries were adjusted for interim dividends of N9.20, five kobo and N0.50 respectively.

The best-performing stocks for the period were Neimeth and Cornerstone Insurance, which topped the advancers’ chart, after gaining 40% and 35.48% respectively, to close at N0.56 and N0.84 per share on market forces and sentiments. On the flip side, Lasaco Assurance and Jaiz Bank lost 20.69% and 11.27% respectively, closing at N0.23 and N0.63, on market forces and profit-taking.

Market Outlook
Being the last trading week of November and last MPC meeting for the year, we expect mixed performance in the new week, on profit-taking, capital wave and outcome of MPC meeting depending on the vote on whether to retain the benchmark Monetary Policy Rate (MPR) at 13.5%, or cut it, considering the latest spike in the inflation rate of 11.61% and Q3 GDP growth of 2.28%. Expect local fund managers to extend their position in undervalued equities with sound fundamentals. As, domestic economy macroeconomic indicators look seemingly positive ahead of policy statements and economic reforms.

Discerning investors, nonetheless, should take advantage of the current low stocks valuation to position for medium to long term. It is noteworthy that the market is selling at a discount to give high upside potential.

We would, however, not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With a dividend yield of major blue-chips continuing to look attractive in recent weeks, we expect speculative trading to shape the market’s direction, despite the seeming mixed outlook.

https://investdata.com.ng/2019/11/profit-taking-ahead-amidst-month-year-end-window-dressing-santa-claus-rally-market/

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http://investdataonline.com/buy-sell-signar4l/

Nigeria’s 2019Q3 Capital Inflow Up 87.9%, Hits $5.36bn

30 States Records zero Inflows, As Lagos Snaps 92.71%

Nigeria’s National Bureau of Statistics (NBS), on Monday, published the country’s capital importation report for the third quarter ended September 30, which at $5.367bn, grew 87.9% year-on-year, over the $2.855bn reported in the corresponding period of 2018.
The import level was however 7.7% less than the $5.82bn reported in the preceding quarter.

At $2.999bn, portfolio investment was the largest amount of total capital importation by type received, accounting for 55.88%, representing 30.13% grew quarter-on-quarter, and 74.08%. It was followed by other investments amounting to $2.167bn, an increase of 66.2% quarter-on-quarter and 260.41% year-on-year; while foreign direct investment for the period aggregated $200.08m, representing 62.29% YoY, and 10.23% QoQ rise.

A breakdown of the inflow by way of portfolio investment during the period under review showed that money market instruments pooled $2.549bn, an increase of 26.73% QoQ and 97.48% YoY; followed by the $358.19m from equity segment, which rose 27.91% QoQ and 9.20% YoY; while capital importation into the bonds segment climbed 71.40% QoQ and 144.42% YoY to $91.6m in the third quarter.

For other investment, which accounted for 40.39% of total capital, the highest inflow was seen in loans, at $1.774bn, representing a 99.21% QoQ growth and 216.24% YoY climb; followed from afar by the $393.1m inflow from other claims that increased by 1,056.22% YoY and 4.9% QoQ; while trade credits and currency deposits recorded zero inflows.
For Foreign Direct Investment FDI, which at $200.08m, accounted for 3.73% of total capital imported in Q3 2019, the lion’s share flowed in by way of the $196.38m, an 11.89% increase QoQ and 62.99% YoY; just as “other capital” accounted for $3.7m.

By sector, capital importation by banking dominated Q3 2019 at $1.756bn of the total capital importation in the period under review, followed by financing, $1.476bn; telecoms and capital market followed by $884.85m and $774.69m respectively, among others. While capital importation into the banking sector accounted for 32.74%, financing amounted to 27.51%; telecoms, 16.94%; and shares, 14.44%, among others.

The United Kingdom emerged as the top source of capital investment inflows to Nigeria in Q3 2019 with $2.011bn, representing 37.47% of the total; ahead of the $1.232bn from the U.S; with South Africa accounting for $708.77m.

Lagos retained its position as the prime destination for investment inflows in the country with its $4.976bn, accounting for 92.71% of the total. While Abuja came a distant second with its $381.19m, 30 states recorded zero capital inflow, as only Edo, Kano, Kaduna, Ogun, Rivers, and Oyo, recorded very marginal inflow.

By bank, Stanbic IBTC Bank Plc remained the most significant receiver of capital investment in Nigeria with $1.63bn, accounting for 30.38% of the total capital inflow in Q3 2019; ahead of Ecobank Nigeria’s $754.38m; followed by the $502.47m through Standard Chartered Bank. Access Bank was next with $447.55m and $350.95m by Citibank.

https://investdata.com.ng/2019/11/nigerias-2019q3-capital-inflow-up-87-9-hits-5-36bn/

Intraday Oscillation May Linger On Profit Taking, As Investors Await Outcome Of MPC Meeting

Market Update for November 25
Nigeria’s stock market started off the last week of the month of November with a mixed session on Monday, the same day the Central Bank of Nigeria (CBN) began the final two-day meeting of its Monetary Policy Committee (MPC) for 2019. The session was dominated by profit-taking and demand for stocks, continuing its bull-run on a low traded volume, just as sell position stood at 57%, with buy volume at 43% and Transaction Volume Index of 0.73.

Buying interest in Consumer Goods stocks: Nestle, Cadbury and Dangote Sugar; as well as insurance stocks lifted the market’s benchmark All Share index during the session.
We note that the new price methodology introduced not too long ago by the management of the Nigerian Stock Exchange (NSE) has boosted trading activities in stocks selling below N100 per share, especially the kobo equities requiring a small amount of money to move their prices. The situation has made stock in this class very volatile on the exchange, creating wealth for traders in the process. However, such stocks are equally very risky, just as the slow movement in highly capitalized stocks and have reduced the rate of the southward movement of the market index directly or indirectly.

Meanwhile, trading on Monday opened on the upside and was sustained till midday before starting an up-down movement by the afternoon on profit-booking in some equities that had rallied earlier. Demand for stocks, pushed the NSE index to intraday high of 27,109.29 basis points, from its low of 26,980.27bps, before closing the session higher above 27,000 psychological line, at 27,035.78bps on positive breadth.

Monday market technicals were positive and mixed, with volume traded higher than the previous day, with breadth favouring the bulls, just as sentiment were mixed as revealed by Investdata’s sentiment report. The momentum behind the day’s performance was slightly down, with Money Flow Index reading 48.33 points, from the previous 49.55bps, indicating that funds left some stocks, despite the fact that the market closed in green.

Index and Market Cap
The All Share index, at the end of the session gained a marginal 44.36bps, closing at 27,035.78bps from its 26,991.42bps opening, representing a 0.16% growth, while market capitalization rose by N21.41bn, closing at N13.05tr, from an opening value of N13.03tr, which also represented a 0.16% value gain.

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The day’s upturn was driven by buying an interest in Nestle, Stanbic IBTC, Guaranty Trust Bank, Presco, Cadbury, UACN, Dangote Sugar, Fidelity Bank, Wema Bank, and Transcorp. These impacted positively on the NSE’s Year-to-Date loss, reducing it to 13.98%, while market capitalization gain increased to N1.32tr, representing 11.30% growth from the year’s opening value of N11.72tr.

Mixed Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Consumer Goods and Insurance that closed higher by 2.73% and 0.39% respectively, while the NSE Industrial Goods index led the decliners, after shedding 0.49%. It was followed by the NSE Banking with 0.32% down and NSE Oil/Gas index, 0.12%.
Market breadth remained positive as advancers outnumbered decliners in the ratio of 20:16, while market activities were up in volume and value traded by 11.21% and 13.03% respectively to 230.65m shares worth N3.21bn, from previous day’s 207.4m units valued at N2.84bn. This volume was boosted by transactions in banking stocks like Zenith Bank, FBNH, and Guaranty Trust Bank. Activities of these banks were more sell than buy transactions.

Law Union Insurance and Jaiz Bank were the best-performing stocks for the session, topping the advancers table, after gaining 10% and 9.52% respectively to close at N0.66 and N0.69 each, on the back of market sentiments and forces. On the flip side, Okomu Oil and Cutix lost 9.73% and 9.52% respectively, closing at N49.65 and N1.33 on market forces.

Market Outlook
We expect the intraday oscillation to continue on profit-taking and outcome of the MPC meeting that will close tomorrow to give clear direction If this capital wave and repositioning in value stocks will persist. The changing sentiments in expectation of improved liquidity as interest rates drop in the money market had trigger buying interest in stocks regardless of a high risk that is associated with investing equity.

The current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.
Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future, and another fiscal policy initiative that may provide liquidity for the economy and market.

https://investdata.com.ng/2019/11/intraday-oscillation-may-linger-on-profit-taking-as-investors-await-outcome-of-mpc-meeting/#more

MARKET REVIEW FOR THE WEEK ENDED NOVEMBER 22, 2019

Hello Investors and Traders,

Ambrose Here Again,

With the current status of the and glaring opportunities ahead of 2020, I have done a short video to guide you in the market. In the video, you will discover:

1. Gradual Recovery of the market
2. Why your accumulation should be fast.
3. The impact of the outcome of MPC meeting.
4. The positive impact of early budgetary system.
5. In 2020, the sectors you need to invest in.
6. What you stand to miss when don't attend the Invest 2020 summit on 7th December, 2019 @ Ostra Hall and Hotel, Alausa, Ikeja
7. Host of others

Want to join the serious investors and Traders who are ready for 2020 Bull market, call NOW 08028164085,08032055467 to register for the INVEST 2020 Workshop. Timing is key so don't delay.

Dedicated to Your Financial Success
Ambrose Omordion


https://www.youtube.com/watch?v=lI_c0SA0mZY

Sentiment Report as of November 27, 2019

NSEASI buy 0% MFI 49.14
Access buy 43% sell 57% MFI 63.18
Afrprud buy 0% volume index 0.86 MFI 52.01
Aiico buy 0% MFI 72.71
Corner buy 0% volume index 2.35 MFI 48.98
Cutix buy 0% volume index 6.85 MFI 61.02
Dangcem buy � volume index 2.19 MFI 18.15
Dangsugar buy 70% sell 30% volume index 6.98 MFI 92.18
Fbnh buy 75% sell 25% volume index 0.91 MFI 69.47
Fcmb buy � MFI 72.63
Fidelity buy � volume index 1.08 MFI 62.01
GT buy 33% sell 67% volume index 0.85 MFI 75.46
Honyflour buy � volume index 1.07 MFI 79.11
Jaiz buy � MFI 95.30
Japaul buy � volume index 2.35 MFI 100.00
Lasaco buy � volume index 3.11 MFI 46.96
Mtnn buy 0% volume index 1.21 MFI 44.67
Neimeth buy � volume index 2.58 MFI 99.85
Regalins buy � volume index 4.74 MFI 90.83
Sterling buy � MFI 65.09
Transcorp buy � volume index 0.90 MFI 63.85
Uacn buy � MFI 59.41
Uba buy 33% sell 67% MFI 65.19
Ucap buy 45% sell 55% volume index 5.53 MFI 64.20
Unity buy 0% volume index 1.46 MFI 60.12
Upl buy � volume index 2.88 MFI 30.15
Wapic buy 0% MFI 72.11
Wema buy � MFI 56.51
Zenith buy 0% MFI 83.26

https://investdataltd..com/2019/11/investdata-daily-sentiment-report-as-of_28.html?m=1

Investdata Daily Sentiment Report as of 28 November, 2019

NSEASI buy 7% sell 93% MFI 49.49
Access buy 0% MFI 60.76
Aiico buy 0% volume index 1.32 MFI 73.45
Cadbury buy 0% volume index 9.22 MFI 18.73
Chams buy 0% volume index 7.46 MFI 46.83
Corner buy 88% sell 12% volume index 6.76 MFI 30.63
Dangsugar buy � volume index 1.07 MFI 88.03
ETI sell � volume index 0.46, MFI 57.47
Fbnh buy 10% sell 90% MFI 68.75
Fcmb buy � volume index 0.78 MFI 64.80
Fidelity buy 0% volume index 0.94 MFI 60.06
GT buy � MFI 74.29
Honyflour buy � volume index 0.85 MFI 79.94
Jaiz buy 0% MFI 95.96
Japaul buy 0% volume index 3.17 MFI 61.84
Nahco buy � volume index 1.14 MFI 64.80
Oando buy 17% sell 83% volume index 1.39 MFI 70.53
Regalins buy 50% sell 50% volume index 9.25 MFI 27.52
Transcorp buy 50% sell 50% volume index 2.11 MFI 51.69
Uacn buy 0% volume index 0.70 MFI 57.76
Uba buy � MFI 73.57
Ucap buy � volume index 1.13 MFI 60.32
Wapic buy � volume index 1.72 MFI 78.71
Wema buy 0% volume index 1.04 MFI 59.09
Zenith buy 50% sell 50% MFI 83.46

https://investdataltd..com/2019/11/investdata-daily-sentiment-report-as-of_4.html

Nigeria’s 2019Q3 Capital Inflow Up 87.9%, Hits $5.36bn

30 States Records zero Inflows, As Lagos Snaps 92.71%

Nigeria’s National Bureau of Statistics (NBS), on Monday, published the country’s capital importation report for the third quarter ended September 30, which at $5.367bn, grew 87.9% year-on-year, over the $2.855bn reported in the corresponding period of 2018.
The import level was however 7.7% less than the $5.82bn reported in the preceding quarter.

At $2.999bn, portfolio investment was the largest amount of total capital importation by type received, accounting for 55.88%, representing 30.13% grew quarter-on-quarter, and 74.08%. It was followed by other investments amounting to $2.167bn, an increase of 66.2% quarter-on-quarter and 260.41% year-on-year; while foreign direct investment for the period aggregated $200.08m, representing 62.29% YoY, and 10.23% QoQ rise.

A breakdown of the inflow by way of portfolio investment during the period under review showed that money market instruments pooled $2.549bn, an increase of 26.73% QoQ and 97.48% YoY; followed by the $358.19m from equity segment, which rose 27.91% QoQ and 9.20% YoY; while capital importation into the bonds segment climbed 71.40% QoQ and 144.42% YoY to $91.6m in the third quarter.

For other investment, which accounted for 40.39% of total capital, the highest inflow was seen in loans, at $1.774bn, representing a 99.21% QoQ growth and 216.24% YoY climb; followed from afar by the $393.1m inflow from other claims that increased by 1,056.22% YoY and 4.9% QoQ; while trade credits and currency deposits recorded zero inflows.

For Foreign Direct Investment FDI, which at $200.08m, accounted for 3.73% of total capital imported in Q3 2019, the lion’s share flowed in by way of the $196.38m, an 11.89% increase QoQ and 62.99% YoY; just as “other capital” accounted for $3.7m.
By sector, capital importation by banking dominated Q3 2019 at $1.756bn of the total capital importation in the period under review, followed by financing, $1.476bn; telecoms and capital market followed by $884.85m and $774.69m respectively, among others. While capital importation into the banking sector accounted for 32.74%, financing amounted to 27.51%; telecoms, 16.94%; and shares, 14.44%, among others.

The United Kingdom emerged as the top source of capital investment inflows to Nigeria in Q3 2019 with $2.011bn, representing 37.47% of the total; ahead of the $1.232bn from the U.S; with South Africa accounting for $708.77m.
Lagos retained its position as the prime destination for investment inflows in the country with its $4.976bn, accounting for 92.71% of the total. While Abuja came a distant second with its $381.19m, 30 states recorded zero capital inflow, as only Edo, Kano, Kaduna, Ogun, Rivers, and Oyo, recorded very marginal inflow.

By bank, Stanbic IBTC Bank Plc remained the most significant receiver of capital investment in Nigeria with $1.63bn, accounting for 30.38% of the total capital inflow in Q3 2019; ahead of Ecobank Nigeria’s $754.38m; followed by the $502.47m through Standard Chartered Bank. Access Bank was next with $447.55m and $350.95m by Citibank.

https://investdata.com.ng/2019/11/nigerias-2019q3-capital-inflow-up-87-9-hits-5-36bn/

Capital Market Can Enhance of Nigeria’s Potentials – SEC


Chairman of the Securities and Exchange Commission (SEC) board, Olufemi Lijadu, on Wednesday challenged Nigeria’s capital market stakeholders, to explore the nonoil sectors of the economy and enable it attain its full potentials.
Speaking at a breakfast meeting between the board members and the stakeholders Lijadu said the nation needs “money to develop our economy and to get the money we need to attract investors both local and foreign. To attract them, our markets need to have the basic rules that are obtainable anywhere else in the world by aligning ourselves with best practices internationally.
Given that market operators and the apex regulator have the same interest, he challenged them to collaborate in the overall interest of the market and the economy.
He expressed the commission’s readiness “to listen to you, to be accessible to you and to work with you. This meeting is the beginning of a partnership that we hope will continue.
“You are there in the market and can give us that sense of what the market is feeling and can give us that direction to frame our policies in the interest of the market”.
While expressing delight at the degree of interaction the regulator has had with the operators, the chairman expressed hope that such level of cooperation would get better.
He also expressed confidence about the level of knowledge and professionalism of stakeholders in the market, stressing that by the time views and suggestions from the interaction are collated, the market would arrive at some solutions.
“We are key pillars in the ability of our country to find solutions to its developmental needs by attracting relevant funding, together we can make our country great” he added.
Earlier in her welcome address, Acting Director-General of SEC, Ms. Mary Uduk commended the stakeholders for the support extended to the commission in the period during which it operated without a board.
She enjoined them to continue supporting the SEC in its effort to regulate and develop the market, as in her words, “you are the ones that provide us with guidance as to the direction the market should go because you are the ones at the forefront and know it first-hand.
“We are happy that we have agreed to be with us here today. We are here today to rub minds with you and further solicit your co-operation in all that we intend to do to deepen the market” she added.

Photo caption: From left, Acting Executive Commissioner Operations, Securities and Exchange Commission (SEC), Isyaku Tilde; Acting Director-General SEC, Mary Uduk; Chairman, SEC Board, Olufemi Lijadu, and Non-Executive Commissioner, Lamido Yuguda, at the Breakfast meeting between the Board of the SEC and Capital Market stakeholders in Lagos, Wednesday.

https://investdata.com.ng/2019/11/capital-market-can-enhance-of-nigerias-potentials-sec/

UKDIT Showcases Major Investors In London To 100 Nigerian Businesses

Ahead of the UK-Africa Investment Summit on January 20, 2020, in London, the UK’s Department for International Trade recently hosted over 100 Nigerian businesses and potential UK investors at an investment showcase in London.
The showcase, in collaboration with the City of London, highlighted opportunities in some of the many viable projects in the West African nation across the agriculture, energy, healthcare, infrastructure, and ICT sectors.

The summit, according to a statement, supports the UK’s clear vision of working together with African countries and forging new investments that will create jobs, and boost mutual prosperity through strong and enduring partnerships.
The vent brought together leading figures in the public and private sectors, investment funds, and financial institutions as the UK pursues its ambition of being the largest G7 investor in Africa by 2022, just as it outlined progressive investment prospects in the Nigerian market today to UK investors.
In his opening remarks, former Lord Mayor of the City of London, Sir Charles Bowman, recalled that the UK is already a significant direct investor in Nigeria, noting the strong relationship that already exists between Nigeria and the City of London.

For example, he continued, “Nigeria is the second-largest destination of UK investments in Africa, with £5.1bn of investment stock, and one-fifth of FTSE 100 companies having some form of presence in Nigeria.”
Continuing, he put total trade in goods and services between the UK and Nigeria in 2018 and 2019 at £5.1bn, representing “an increase of 19.3% from the previous year, which illustrates the size and strength of trade and investment relationship between our two countries.”
In a keynote address, Nigeria’s Minister of Trade and Investment, Adeniyi Adebayo said as part of realising “our national economic objectives, the Nigerian government has begun implementing new initiatives to aggressively improve the ease of doing business and is supporting investors through wholesale reforms, tailored investor incentives, bilateral investment agreement and a pipeline of continuous opportunities…”

Deputy High Commissioner to Nigeria, Harriet Thompson, facilitated, just as Seso Global, Farmcrowdy, Nordica Fertility Centre, jetWest Airways, Channeldrill Resources Ltd and Century Energy Services and other Nigerian businesses presented their projects to investors from Credit Suisse, Infraco Africa, Standard Chartered, Black Rock, CDC, JP Morgan, Helios Investments and Wood group among others.
Other speakers included the DIT’s Director General for Exports, John Mahon, Executive Secretary/CEO, Nigeria Investment Promotion Commission, Yewande Sadiku, and chief executive of Nigeria Sovereign Investment Authority, Uche Orji.

https://investdata.com.ng/2019/11/ukdit-showcases-major-investors-in-london-to-100-nigerian-businesses/

Getting Women In Driver’s Seat Of Africa’s Agribusiness Revolution

By Mariam Yinusa and Edward Mabaya
More African female agripreneurs must be supported to grow and progressively transition into the business segments of agricultural value chains which are most profitable
Monica Musonda, CEO of Zambian food processing company Java Foods (https://Java-Foods.com/), certainly faced hurdles in her rise to the top, but she overcame them.
“Although the barriers to entry for women can be frustrating, they are often basic and relatively easy to resolve,” she said, playing down her struggles.
“My climb up the agribusiness ladder has been challenging but definitely worthwhile.”
Musonda, whose company produces affordable and nutritious food snacks made from local ingredients, is one of just a handful of female agripreneurs who have successfully broken through the proverbial glass ceiling in Africa’s agribusiness (https:///2QJrnjY) industry.

Women are the backbone of Africa’s agricultural sector. From farm to fork, African women are players along the entire agricultural value chain, be it as farmers, livestock breeders, processors, traders, workers, entrepreneurs or consumers. While their influence on the continent’s growing agribusiness industry is undeniable, more solutions are needed to address the gender-specific challenges they face to boost their participation.
The average African woman is a budding entrepreneur either by choice or by circumstance. According to the Global Entrepreneurship Monitor Women’s Report 2016/17 (https:///2KRkpWt), the continent has the highest percentage of female entrepreneurs in the world, with one in four women starting or managing a business. The agribusiness industry is often the natural focus of this entrepreneurial drive.

Across the continent, women dominate as primary processors post-harvest, as traders with bustling market stalls, as owners of fast-food restaurants and with increasing frequency as manufacturers of packaged ready-to-eat food products. Yet despite this dynamism, female-led agribusinesses tend to remain small, fragmented and informal in nature. They struggle to sustain and scale-up their agribusinesses into well-organized profitable enterprises.

Admittedly, the challenging business environment in many African countries including poor infrastructure and unreliable legal and regulatory systems affects all business activities of both men and women. However, in addition, women-led businesses must also grapple with a number of gender-specific constraints, inhibiting their expansion into more lucrative market segments.
Firstly, African women often lack the technical know-how. Despite the gains in female education on the continent, highly productive agribusinesses require specialized vocational and technical skills in fields such as food safety, food conservation, packaging and product certification which many African women do not readily possess.

Access to finance is the most frequently cited obstacle by African SMEs. Women entrepreneurs face multiple difficulties in securing funding mainly due to lack of collateral in the form of land and other tangible assets and a high-risk perception. According to the African Development Bank, an estimated $42 billion financing gap exists for African women across business value chains, including $15.6 billion in agriculture alone. Women are forced to rely on personal savings and family loans which are rarely enough to fund their businesses to scale.
Thirdly, socio-cultural barriers and stereotypes persist. African women remain the primary caregivers in families meaning that managing those responsibilities while growing a thriving business can become a difficult balancing act.

Over the last two decades, many governments and development institutions have rolled out programs to promote access to finance, agricultural inputs and provide technical support and business training to female agripreneurs. The African Development Bank recently set up the Affirmative Finance Action for Women in Africa (AFAWA) (https:///37CyW1G), a bold pan-African initiative to bridge the financing gap facing women. It adopts a three-pronged approach centered on improving access to finance, providing technical assistance and strengthening the enabling environment.
It often takes very little to make a difference. The capital injection required by the majority of female-led SME agribusinesses on the continent is typically less than $50,000. And women have consistently proven to be more credit-worthy than men, usually paying back loans within agreed timeframes. Successful solutions by women for women such as microfinance and saving groups, peer-to-peer training and information sharing should also be reinforced and taken to scale.

More
such initiatives are urgently needed across the continent. Solutions must be based on in-depth engagement with the women business owners themselves to properly understand their frustrations and needs. Tailored programs designed to specifically address these pain points are critical. The Global Gender Summit (https:///35w2M6b) is a timely opportunity to drive this forward.
Women are central for Africa’s agricultural transformation to be successful, sustainable and inclusive. More African female agripreneurs must be supported to grow and progressively transition into the business segments of agricultural value chains which are most profitable. It has been proven time and time again that when African women thrive the entire society shares in those dividends.

Yinusa and Mabaya are Principal Economist and Manager, respectively, in the Agribusiness Development Division of the African Development Bank.

https://investdata.com.ng/2019/11/getting-women-in-drivers-seat-of-africas-agribusiness-revolution/

Nigeria’ll Be Among World’s Most Liquid Capital Markets By 2025- SEC

The Securities and Exchange Commission, (SEC), on Monday in Abuja restated its commitment to ensuring that the country’s Commodities Ecosystem becomes vibrant and contributes to economic development
Acting Director-General of the SEC, Mary Uduk gave this assurance at the opening of a two-day capacity building programme on the commodities trading ecosystem for the staff of some federal ministries.
Already, she said, the commission is collaborating with relevant stakeholders to implement the 10-year capital market master plan aimed at transforming Nigeria into one of the world’s most liquid capital markets and Africa’s largest economy by 2025.
To achieve the target, however, she stressed the need for the Nigerian capital market to operate at an optimum level, even as the implementation of its 10-year master plan remains a priority.

Ahead of that target, however, she underscored the need for a vibrant commodities ecosystem to enhance the diversification of Nigeria’s economy from oil to the non-oil sector, while in the process boosting the government’s revenue stream and foreign exchange earnings.
Uduk, who was represented by Head, Registration, Exchanges, Market Infrastructure and Innovation at the commission, Emomotimi Agama, said “one of the crucial initiatives of the plan was to develop thriving commodities trading ecosystem and fully utilise the nation’s potentials.

“We believe that if we can develop a vibrant commodities trading ecosystem in Nigeria, we can substantially address lack of storage, poor pricing, non-standardisation and low contribution of foreign exchange affecting our commodities sub-sector,” the SEC boss stressed.
Commodity exchanges, Uduk continued, are critical to economic growth, especially in the areas of price transparency and value addition to farmers, ensuring quality products for buyers and providing investment opportunities across the value chain.
For her, Nigeria is still challenged in the area of transiting from an informal commodity trading system to one consummated on the platforms of commodity exchanges.

One of overcoming this, according to the SEC boss, is for the country to pay adequate attention to agriculture, and in the process, boost food security, enhance job creation and facilitate the production of raw materials for agro-processing.
The training is being organised in two tranches, the first tranche consists of staff of the Federal Ministry of Agriculture and Rural Development.

Photo caption: Head Registration, Exchanges, Market Infrastructure and Innovation Department, Securities and Exchange Commission, Emomotimi Agama, Managing Director, Nigeria Commodity Exchange Hajia Zaheera Baba-Ari and Divisional Head, Commodity Exchange Division SEC Mrs. Ojone kabir, during a Capacity Building Program on Commodities Trading Ecosystem for Staff of the Federal Ministries in Abuja, Monday.

https://investdata.com.ng/2019/11/nigeriall-be-among-worlds-most-liquid-capital-markets-by-2025-sec/

Is Nigeria’s Stock Market Recovery In The Offing?

The nation’s stock market and, indeed, the economy, has over the past 22 months has mostly been bearish, besides favouring high yield-sensitive sectors over the real sectors that drive economic growth.
Evidence of this is the national productivity that has for almost 13 quarters struggled with a slower-than-expected GDP growth rate, with undulating movement resulting from geopolitical uncertainties and inconsistent economic policies.
The situation has been made worse by the high cost of funds which has limited private sector access to liquidity needed to boost economic activities for driving national growth and oil macroeconomic progress and prosperity.

Every in the world today, stock markets are a leading indicator of what is happening, just as at the same time they foretell what is about to happen.
The case of the Nigerian stock market is not different. As early as almost six years ago in earlier in 2014 and 2015, the benchmark All-Share index of the Nigerian Stock Exchange (NSE) has betrayed signs of a weak economy with its dominant bearish posture long before the economy finally slipped into recession in 2016. The economic recession came after three consecutive years of negative close by the NSEASI, just as other macroeconomic indicators during the period were negative. It reflected a lack of consumer and investor confidence, with the Naira exchanging for as high as N520 against the U.S Dollar, the GDP was in negative and inflation was ballooned, resulting to imported inflation due to high exchange rate.
To check the situation, recall that the Central Bank of Nigeria, through a bouquet of new policies, intervened in the exchange rate market, introducing the exporters and investors window to provide funds for eligible imports. This was after 41 goods were barred from access to the official foreign exchange window, a situation that boosted manufacturing sector activities and earnings capacity.

The I&E forex exchange window initiative was of great help, as it mitigated the losses that wiped away company profits in the 2016 financial year, as seen in the seeming improved corporate earnings of listed companies in 2017.
According to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) on Friday in Lagos, the I&E window has recorded over $60bn worth of transaction since its inception in April 2017. This has helped to sustain the economic recovery while supporting stock prices in addition to attracting smart money into the market.

Closing their two-day meeting on Tuesday, all 11 members of the CBN’s Monetary Policy Committee (MPC), had in line with the expectations of Investdata Research and other analysts, unanimously voted to retain the benchmark Monetary Policy Rate (MPR) at 13.5%, among others. One reason for the decision to hold rates by the MPC was the spike in inflation rate for the second consecutive month to 11.61% from 11.24% in September, due to a combination of the Federal Government’s closure of Nigeria’s land borders; and poor harvest season, among others.
The committee opted to observe the impact of various unconventional policies and directives of the CBN, for deciding what its next policy option would be.
We note also that this cocktail of policies has helped to trigger national productivity as revealed by the recently released Q3 GDP rate, which grew at 2.28% (READ MORE).

The decision of the MPC to leave the various instruments unchanged was also to protect the nation’s external reserve, as any form of adjustment down may trigger selloffs by foreign portfolio investors in any of the windows which may further exert pressure on an already declining reserves. The oil price oscillation and the future oil market have made the MPC call for a review of the 2020 budget oil benchmark price to $57 per barrel in order to build a fiscal buffer to stimulate the economy.
The usual seasonal demand boost in the fourth quarter could push growth up to 2.48% or so this year. The other drivers are a small rise in crude output and the proposed adjustment of the national budget cycle to January- December calendar year to enhance planning. The CBN policies and directives seem to be addressing age-long problems that have constituted major impediments to economic growth.
The weak economic growth and this prolonged bear market are coming to an end, here is what to do and when. Nothing lasts forever, including the bear or bull markets.

The ongoing market correction remains the longest in the recent bear market and would definitely come to an end. Everyone knows that already, but those who have tried to predict when that end would come have obviously been proven wrong. There are lots of studies that say investors can’t time the market, meaning you can’t be a successful investor if you jump in and out of the market every time you think it’s turning down or up again.
So, here is how to tell if this bear market is ending, when it has actually ended, and most importantly what to do to recover your losses and grow capital by making a fortune when the bulls go crazy.

Market Timing Is Everything
Timing the market, to me, is about knowing when bears are exiting and riding bulls’ markets, recognizing when they are ended. This broad-based timing has made discerning investors and traders wealthy. The most successful and richest traders and investors in history time the markets, like we do at Investdata, especially during the annual investment summit and which we are poised to undertake at the forthcoming INVEST 2020 Summit.
And yes, you can include Warren Buffett in the list of successful billionaire market timers, along with George Soros, Carl Icahn, Steve Cohen, David Tepper, Michael Steinhardt, Paul Tudor Jones, Sir John Templeton, the list goes on. If you don’t know Warren Buffet engages in market timing and trades, then there are things you do not know him.

Success in investment timing involves weeks, months and even years of painstaking research.
Think of good timing in terms of a calendar. Timing in terms of days and weeks is for traders. Think of that kind of timing like clockwork.
Not that there is no money to be made trading short-term. Surely, there is, and we have done that for years. It is just not for everyone, because most people do not have the time to trade for a living like successful traders who make millions every year from trading.
Smart investors make extraordinary gains in bull markets because bull markets can last a long time, depending on the factors driving the market.
Every bull and bear market is unique. What is important is knowing when they are beginning and ending. The positive end of November is signal that the regulatory directive of the CBN, Securities and Exchange Commission, and the Nigerian Stock Exchange are shaping the market with investors buying interest and positive sentiments continue to look up. Note that, high cap equities and a few blue chips price movements have been sluggish, arising from the new price methodology introduced, which re-adjusted volume allowed to move prices.

On the strength of the above, we believe that playing listed equities of choice by their respective trends is an intelligent trading strategy at the moment. Also observed is the fact that equities selling below N1.00 are now highly volatile since the low fund is required to move their prices. Few traders are believed to be enjoying short-term capital appreciation through these listed equities.

One major attraction to the equities market at the moment is the recent drop on the 364-day Treasury bill yield which has trended around 10% over the past week, in other words, funds seeking higher returns are currently finding their ways into the equities market not minding the higher risk.
The market at this point of recovery is likely to experience up and down movement but investors should not panic out of position, rather we recommend that traders should take timely advantage of low prices around the market to accumulate. The expected December rally was projected on the fact that Nigerian Equities Market has more than three years record of Santa Claus rally supported by year-end portfolio balancing and window dressing.

https://investdata.com.ng/2019/11/is-nigerias-stock-market-recovery-in-the-offing/

CBN To Prioritize Economic Growth, Price Stability, Low Inflation In 2020- Emefiele

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), on Friday in Lagos said the bank would focus its support on ensuring greater economic growth, price stability and low inflation, in 2020.
In a keynote address at the 54th Annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN), he said the tight monetary policy stance of the CBN would be sustained, lamenting that despite the positive GDP reported so far, growth remains slow.
Speaking on “Strong Sustainable growth for the Nigerian Economy,” he blamed the slow growth on “some structural constraints” in the economy, stressing that the pace of growth, given Nigeria’s population rate, exposed the economy to shocks, such as changes in the oil price, and sentiments in the global financial markets.

On plans by the CBN to support the economic recovery and enable stronger GDP growth, Emefiele promised that the CBN would continue its current tight stance, particularly in view of rising inflation expectations.
“Though we will act to appropriately adjust the policy rate in line with unfolding conditions and outlooks, the CBN will continue to ensure that the policy interest rate is delicately set to balance the objectives of price stability with output stabilization,” he explained.
Doing a recap of the highlights for 2019, Emefiele recalled that the country’s GDP had remained positive, adding that the positive growth in GDP had been driven by improvements in agriculture, oil and gas, manufacturing and ICT, as well as the intervention programmes of the CBN, along with sustained supply of foreign exchange and stability of the naira.
He also attributed the decline in inflation to the CBN’s maintenance of a tighter monetary policy rate at 13.5%, and its efforts at improving local production of key staple items.
Speaking further, he said the Nigerian financial system was now stronger due to the fact that capital buffers and liquidity in the banking system have continued to improve.

According to him, industry-wide Capital Adequacy Ratio(CAR) had increased from 10.2% in December 2017 to 15.5% in September 2019, adding that the percentage of non-performing loans in the banking sector reduced from a high of 14.7% in January 2017 to under 7% by October 2019.
He also noted the improved credit conditions in the banking system, supported by the CBN’s new policy measures announced in June 2019, which require banks to maintain a minimum 65% loan to deposit ratio. Furthermore, he said banks in the country are now able to recover delinquent loans from customers’ accounts in other banks, adding that the measures now placed Nigerian banks in a much better position towards supporting a stronger economic recovery. This, he added, had increased gross credit by N1.16 trillion between May and October 2019.
On the country’s External Reserves, the Governor said the Bank’s effort at supporting domestic production in the agriculture and manufacturing sectors among other policies continue to encourage foreign exchange inflows into the Nigerian market.

According to him, over $60bn worth of transaction had taken place since the inception of the Investors’ and Exporters’ window in April 2017, adding that Nigeria’s foreign exchange reserves were above $40bn as at October 2019, compared to $23bn in the same period in 2016.
The governor also highlighted the CBN’s development finance efforts, which he said had been sustained to support growth in critical sectors of the economy such as agriculture and the manufacturing sectors, through programmes such as the Anchor Borrowers’ Programme, the Commercial Agriculture Credit Scheme and the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme(AGSMEIS).
Alluding to the economic face-off between some countries, as well as the likely challenges the economy could face due to moderate oil prices, he stressed the need for Nigeria to build up the necessary buffers that would protect the economy from pressures in the global market. He then restated the need to boost local production and diversify the country’s export base.

“We should encourage Nigerians to consume goods that can be produced in Nigeria, knowing full well that a time will come when we may not have the foreign exchange to aid such activities if we continue to rely on earnings from the export of crude oil,” he emphasized.
Recalling the country’s economic glorious past when the economy was heavily reliant on agriculture, with increased cultivation and exports of primary products such as cocoa, palm oil, cotton and groundnut, Emefiele argued that a productive Nigerian economy that is not reliant on exports of crude oil is possible.
He urged all stakeholders to believe in Nigeria’s greatness, stressing that the country was blessed with abundant human and natural resources, which if truly harnessed would propel Nigeria into one of the world’s top 20 economies.
“We must redouble our efforts to continue to support actions by the monetary and fiscal authorities to diversify the base of the Nigerian economy through encouragement of made in Nigeria products.

“We must also consume what we produce and produce what we consume. We must discourage the propensity to import what can be produced in Nigeria. This is because if we do not reduce import, the same imports will kill us knowing full well that such activities do not aid our efforts to create jobs and support the growth of our local industries.
“If we choose to follow the trend of supporting imports of goods that can be produced in Nigeria, we will lose jobs, our industries will die and insecurity and other social vices in our land will continue to increase. We must choose this alternative path of improving domestic production, which will support the growth of our local economy,” he charged.

As part of the Bank’s priorities for 2020, he said the CBN was determined to maintain its stable exchange policy stance in the near to medium term given the relatively high level of reserves. He said the Bank would also sustain these efforts in 2020 as part of our plan to reduce our financial exclusion rate to under 20% over the next year.
The governor said the apex bank will also improve access to credit for farmers and SMEs by deepening its intervention efforts through the Anchor Borrowers’ Programme, Commercial Agriculture Credit Scheme and the Real Sector Support Funds, amongst others. Similarly, he said the Bank, in pushing to improve access to finance and credit, would protect them from unfair banking and lending practices by maintaining oversight on the banks and other financial institutions.

In addition to making sure that financial institutions support the growth of the real sector, Emefiele said the CBN, working with the Nigerian Export-Import Bank (NEXIM), improved access to the N500bn facility designed to support the growth of Nigeria’s non-oil exports.
While disclosing that the CBN, working with the fiscal authorities, will support the recovery of the economy, the governor reiterated that Nigeria is open to business, urging investors to take advantage of the investment opportunities in Nigeria. He assured that investments in Nigeria would be duly protected by the authorities.
The CBN boss also spoke of plans to establish a Bankers’ Charitable Endowment Fund that will finance a major charitable initiative yearly from 2020.
The Bankers’ Charitable Endowment, he stressed, will directly fund strategic social programmes in states and local communities across Nigeria. He expressed the hope that the Fund would spur a trend across other industries and sectors to collaborate and work together to better the lives of all Nigerians.

https://investdata.com.ng/2019/11/cbn-to-prioritize-economic-growth-price-stability-low-inflation-in-2020-emefiele/

Price & Earnings Tracking For Week Ended November 2019

https://investdata.com.ng/2019/11/price-earnings-tracking-for-week-ended-november-2019/

Corporate Actions For Week Ended Friday, November 29, 2019

https://investdata.com.ng/2019/11/corporate-actions-for-week-ended-friday-november-29-2019/