Investdata Daily Sentiment Report as of January 27, 2020

NSEASI buy 0% volume index 1.29 MFI 62.26
Access buy 0% MFI 44.87
Chams buy � volume index 2.20 MFI 59.08
Custodian buy 0% volume index 2.08 MFI 100.00
Dangsugar buy 0% volume index 1.38 MFI 33.24
Eti buy � volume index 4.05 MFI 60.96
Fbnh buy 0% MFI 70.41
Fcmb buy � volume index 1.11 MFI 42.58
Fidelity buy 0% MFI 49.02
GT buy 0% volume index 1.41 MFI 51.83
Jaiz buy � volume index 1.09 MFI 52.10
Lasaco buy � MFI 28.01
Nahco buy � volume index 1.21 MFI 79.55
Oando buy � MFI 64.03
Transcorp buy 25% sell 75% MFI 72.12
Uacn buy 25% sell 75% MFI 73.90
Uba buy 0% MFI 68.24
Ucap buy 50% sell 50% volume index 1.44 MFI 65.37
Unity buy 0% volume index 2.38 MFI 5.09
Vitafoam buy � volume index 4.73 MFI 89.99
Wema buy � MFI 65.07
Zenith buy 23% sell 77% volume index 1.15 MFI 56.05

https://investdataltd..com/2020/01/investdata-daily-sentiment-report-as-os.html

Investdata Daily Sentiment Report as of January 28, 2020

NSEASI buy 17% sell 83% volume index 0.73 MFI 53.75
Access buy � MFI 34.20
Afrprud buy 0% volume index 1.64 MFI 74.38
Aiico buy 0% MFI 81.15
Chams buy � volume index 1.05 MFI 58.67
Fbnh buy 67% sell 33% volume index 0.73 MFI 56.41
Fcmb buy 75% sell 25% volume index 0.82 MFI 21.27
Fidelity buy 0% volume index 1.75 MFI 25.25
Fidson buy � volume index 1.05 MFI 27.29
GT buy 83% sell 17% volume index 0.78 MFI 44.44
Jaiz buy 0% volume index 1.21 MFI 33.72
Lasaco buy 0% volume index 1.63 MFI 23.20
Nahco buy � volume index 1.87 MFI 80.06
Nem buy � volume index 3.95 MFI 67.01
Sterling buy � MFI 61.07
Transcorp buy 0% MFI 62.92
Uacp buy 67% sell 33% volume index 9.31 MFI 0.00
Uacn buy � MFI 77.91
Uba buy 67% sell 33% MFI 52.82
Ucap buy � volume index 1.17 MFI 54.10
Unity buy 0% volume index 2.17 MFI 3.36
Wapco buy 33% sell 67% MFI 81.41
Wapic buy � MFI 96.27
Wema buy 0% MFI 48.61
Zenith buy 50% sell 50% volume index 0.85 MFI 46.45

https://investdataltd..com/2020/01/investdata-daily-sentiment-report-as-of_28.html

Indicators Turn Red, As Investors Take Profit, ‘Reprice’ Assets, Balance Portfolio


Market Update for January 27
Nigeria’s stock market closed lower on Monday amidst assets repricing, portfolio rebalancing, and profit-taking, as investors and traders interpret the impact of the recent adjustment in the Cash Reserve Requirement set by the Central Bank of Nigeria last week at its Monetary Policy Committee meeting to 27.5% from 22.5%. Prices of banking and Consumer Goods stocks wobbled, with a negative impact on the NSE’s composite All-Share index as fear of likely reversal in the CBN’s Open Market Operation restrictions.
Construction giant- Julius Berger Plc presented its full-year earnings report after trading hours on Monday, showing impressive and strong numbers likely to support price movement, especially when the directors announce the corporate action. Revenue for the period was rose 36% to N264.56bn from N194.62bn in 2018, while bottom-line stood at N10.3bn, up from N6.1bn in the previous year, resulting in Earnings Per Share of N8.00, compared to N5.30 each in 2018. The numbers released so far have shown that Q4 2019 performance has impacted positively on 2019 scorecards.
Meanwhile, Monday’s trading opened slightly up in the early hours before pulling back in the mid-morning to the afternoon on portfolio rebalancing and profit-taking in banking stocks. This pushed the composite Index to an intraday low of 29,552.99 basis points from its high of 29,648.35bps, after which it finished the session lower at 29,552.99bps on a high traded volume.

Market technicals for the day were negative and mixed, with volume traded higher than the previous session’s, in the midst of market breadth that favoured the bulls and strong selling pressure, as revealed by Investdata’s Sentiment Report showing 100% ‘sell’ volume and 0% ‘buy’ position. The day’s total transaction volume index stood at 1.29, while the momentum behind the day’s performance remained relatively strong, even while declining further. Money Flow Index read 62.26points, from the previous 70.30ps, an indication that funds exited the market and some stocks.

Index and Market Caps
At the end of Monday’s trading, the All-Share Index shed 75.85bps, closing at 29,552.99bps from the 29,628.34bps of the previous session, representing a 0.26% drop. Market capitalization lost N39.07bn, closing at N15.22 trillion, from an opening value of N15.42tr, which represented a 0.26% 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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
Monday’s decline was impacted by profit-taking and selloffs in Zenith Bank, UBA FBNH, Access Bank, Unilever, Flourmills and Dangote Sugar, among others, which impacted negatively on the NSE’s Year-to-Date gain, as it reduced to 10.10%. Market capitalization, YTD, climbed to N2.68tr, representing a 17.23% growth over the year’s opening value.

Bullish Sector Indices
The sectoral performance indexes were bullish, except for the NSE Banking Index that closed lower by 1.19%, while the NSE Insurance index led the advancers, after gaining 0.51%, followed by Consumer and Industrial goods with 0.21% and 0.07%, while Oil/Gas closed flat.
Market breadth was almost flat, as advancers marginally outnumbered decliners in the ratio of 14:13, while market activities were mixed after volume traded increased by 140.6% to 444.04m shares, from the previous 186.27m units. Transaction value fell by 4.7% to N3.35bn from the previous day’s N3.54bn. The day’s volume was driven by transactions in Veritaskapital Assurance, Zenith Bank, Guaranty Trust Bank, UBA and FCMB.
Nahco and NPF Microfinance were the best-performing stocks, gaining 9.80% and 9.73% respectively to close at N2.69 and N1.24 per share, on earnings expectation and market forces. On the flip side, Unilever and Eterna lost 9.97% and 9.52% respectively, closing at N15.80 and N2.85 on the unimpressive Q4 numbers and profit-taking.

Market Outlook
We expect the mixed performance to continue in the midst of profit-taking and positioning by investors taking advantage of the pullbacks, even as players interpret and analyze the impact of last week’s CRR adjustment, ahead of the full-year earnings reporting season. This is also against the backdrop that capital wave in the financial market may change in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which had pushed the market out of the bearish zone.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/01/indicators-turn-red-as-investors-take-profit-reprice-assets-balance-portfolio/

Investdata Daily Sentiment Report as of January 30, 2020

NSEASI buy 17% sell 83% volume index 0.70 MFI 43.91
Access buy � MFI 35.57
Aiico buy � volume index 1.58 MFI 83.99
Eti buy 50% sell 50% volume index 1.02 MFI 43.97
Fbnh buy 0% MFI 42.41
Fcmb buy � volume index 23.47
Fidelity buy 0% volume index 0.89 MFI 28.78
GT buy 15% sell 85% volume index 1.22 MFI 35.91
Jaiz buy 50% sell 50% MFI 27.95
Mtnn buy 0% volume index 2.90 MFI 61.35
Nem buy 0% volume index 2.51 MFI 55.27
Transcorp buy � MFI 38.97
Uacn buy 0% volume index 0.71 MFI 74.84
Uba buy 0% MFI 59.80
Ubn buy � volume index 1.83 MFI 47.04
Ucap buy 67% sell 33% volume index 0.73 MFI 37.59
Unity buy 0% volume index 0.99 MFI 3.61
Wapco buy 97% sell 3% MFI 77.04
Zenith buy 75% sell 25% volume index 1.12 MFI 34.77

https://investdataltd..com/2020/01/investdata-daily-sentiment-report-as-of_30.html

Mixed Performance May Continue Amidst Profit-taking, Positioning In Value Stocks

Market Update for January 28
The Nigerian Stock Exchange NSE), again closed lower on Tuesday as players extended their profit-taking, as reactions to last week’s decision of the Monetary Policy Committee meeting, especially the adjustment of the Cash Reserve Requirement of banks continued, taming the rising trend in inflation while controlling excess liquidity in the financial system. This has sustained the seeming correction, amidst assets repricing and rebalancing, with more companies presenting their unaudited financials for Q4 ended December 31, along with the unaudited full-year 2019. These are expected to give investors an insight into what to expect between now and March 31, the 90-day deadline for filing audited account.
Nine companies released their quarterly earnings reports on Tuesday, a breakdown of which showed that Q3 numbers came from Red Star Express, Airtel Africa and Chellarams, while Q4 results came from CAP, SAHCO, Total Nigeria, Ekocorp, Abbey Mortgagee and Tourist Company. Zenith Bank and UBA notified the market of their board’s approval of the 2019 financial year results, which have been forwarded to the Central Bank of Nigeria for approval before being releasing it to the exchange.

Technically the market is set for correction before another breakout on continued recovery, following which investors should be ready to face the realities of several expectations ahead of the 2019 full-year earnings season. We believe that company scorecards will largely dictate the market direction at this point, regardless of other fundamental factors. We advise investors and traders to watch their position and take profit to avoid unexpected losses.

Tuesday’s trading started slightly on the downside in the morning and was sustained throughout the session on a negative sentiment that pushed the NSE Index to an intraday low of 29,347.09 basis points from its high of 29,529.60bps. It thereafter retraced up marginally but finished the day lower at 29,378.63bps on a low traded volume.
The session’s market technicals were negative with lower volume traded than the previous session’s, in the midst of market breadth that favored the bears, besides the negative sentiments as revealed by Investdata’s Sentiment Report showing 83% ‘sell’ volume and 17% ‘buy’ position. The day’s total transaction volume index stood at 0.73, while the impetus behind the day’s performance remained relatively strong, even while declining further. Money Flow Index read 53.75points, from the previous 62.26ps, an indication that funds exited the market and some stocks.

Index and Market Caps
NSE composite All-Share index lost 174.37bps, closing at 29,378.63bps from the 29,552.99bps of the previous session, representing a 0.59% decline. Market capitalization depreciated by N89.81bn, closing at N15.13tr, from an opening value of N15.22tr, representing a 0.59% 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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

Tuesday’s downturn was driven by profit-taking and selloffs in Guaranty Trust Bank, UBN, Total Nigeria, Honeywell Flour, Flourmills, and Oando, among others, which impacted negatively on the NSE’s Year-to-Date gain, as it reduced to 9.45%. Market capitalization, YTD, drop to N2.17 trillion, representing a 16.78% growth over the year’s opening value.

Bearish Sector Indices
The sectoral performance indexes were bearish, except for the NSE Insurance Index that closed 1.54% green, while the NSE Banking index led the decliners, after losing 2.18%, followed by Oil/Gas, Industrial, and Consumer goods with 1.35%, 0.57%, and 0.28%, respectively.
Market breadth was negative as decliners outnumbered advancers in the ratio of 20:8, while transactions in terms of volume and value were mixed as volume traded decreased by 43.49% to 250.93m shares, from the previous 444.04m units. The transaction value was up by 44.18% to N4.83bn, from the previous day’s N3.35bn. The day’s volume was driven by transactions in Stanbic IBTC, Fidelity Bank, Guaranty Trust Bank, FCMB and Julius Berger
Julius Berger and Nahco were the best-performing stocks, gaining 9.93% and 9.67% respectively to close at N22.15 and N2.95 per share, on the impressive earnings and expectation. On the flip side, ABC Transport and GSK lost 9.76% and 9.17% respectively, closing at N0.37 and N5.45 on profit-taking and market forces.

Market Outlook
We expect the mixed performance to continue in the midst of profit-taking and positioning by investors taking advantage of the pullbacks, even as players interpret and analyze the impact of last week’s CRR adjustment, ahead of the full-year earnings reporting season. This is also against the backdrop that capital wave in the financial market may change in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which had pushed the market out of the bearish zone.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/01/mixed-performance-may-continue-amidst-profit-taking-positioning-in-value-stocks/#more

Indecision Still On NGSE, Transaction Volume Drops, As Investors Await Audited Reports

Market Update for January 29
Nigeria’s equity market at the midweek extended its negative stance for the third consecutive session as investors tread with caution in the midst of selloffs in high cap stocks, amidst reactions to last week’s decision of the Monetary Policy Committee hiking Cash Reserves Requirements to 27.5%. This has expectedly triggered a circular flow of funds in the financial market as a result of portfolio rebalancing among institutional investors and fund managers.

The mixed earnings reports emanating from listed companies in their bid to meet the 30-day statutory deadline for filing the last quarterly numbers of 2019 are yet to impact the market. The reason may not be far-fetched, given that these reports are unaudited, just as there are not yet any proposals of dividend for investors, besides enabling discerning investors and traders to reposition their portfolios ahead of the audited the accounts that will come with corporate action in two weeks’ time.
Already, over 27 companies released their quarterly earnings reports, including both Q3 and Q4 results, on Wednesday, presented from Stanbic IBTC, NPF Microfinance, NASCON Allied, NEM, 11 Plc, BOC Gases, LASACO, and many others. Also, United Capital and Nigerian Breweries notified the NSE and investors of it closed period for the full year 2019 audited accounts.

Technically, the declining volume of trade signals the spate of indecision among traders, suggesting that the ongoing correction or pullback may not last for too long, as more Open Market Operations bills will mature in the coming weeks. Added to this is the fact that audited financial for 2019 is equally expected in the coming weeks as well, thereby presenting investors with the realities of these companies, vis-à-vis the 2019 full-year earnings predictions. In times like this, investors should reassess their expectations and re-position, or exit, where necessary.
Meanwhile, Wednesday’s trading opened on the downside and was sustained throughout the day on continued negative sentiment and selloffs that pushed the benchmark Index to an intraday low of 29,054.23 basis points from its high of 29,381.95bps. It thereafter retraced up slightly, before closing lower at 29,110.90bps on a low traded volume
.
Midweek, market technicals were negative and weak, with volume traded lower than the previous session’s, in the midst of negative market breadth and sentiments as revealed by Investdata’s Sentiment Report showing 83% ‘sell’ volume and 17% ‘buy’ position. The day’s total transaction volume index stood at 0.70, while the momentum behind the day’s performance was weak as Money Flow Index read 43.91points, from the previous 53.75ps, an indication that funds left the market and some stocks.

Index and Market Caps
At the end of midweek trading, composite NSE All-Share index lost 267.73bps, closing at 29,110.90bps from an opening figure of 29,378.63bps which represented 0.91% decline, just as market capitalization depreciated by N137.91bn, closing at N14.99tr, from an opening value of N15.13tr, representing a 0.91% value loss in investors portfolios.
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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The continued downturn was impacted by profit-taking and selloffs in Unilever Nigeria, MTNN, Guaranty Trust Bank, Ecobank Transnational Incorporated, Access Bank, FBN Holdings, UACN, AXA Mansard, NEM, Honeywell Flour, and Boc Gases, among others, which impacted negatively on the NSE’s Year-to-Date gain, reducing it to 8.45%. Market capitalization, YTD, drop to N2.04tr, representing a 15.72% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were bearish, except for the NSE Consumer Goods and Oil/Gas Indexes that closed marginally higher by 0.39% and 0.36% respectively, while the NSE Insurance index led the decliners, after losing 2.79%, followed by Banking and Industrial Goods with 1.26% and 0.18%, respectively.
Market breadth remained negative as decliners outnumbered advancers in the ratio of 18:10, while market activities in terms of volume and value dropped by 3.26% and 4.91% respectively to 242.76m shares worth N4.59bn from the previous day 250.93m units valued at N4.83bn. Volume was driven by transactions in Zenith Bank, Unilever, Guaranty Trust Bank, FCMB and UBA
Lasaco Assurance and Aiico were the best-performing stocks, gaining 7.69% and 6.33% respectively to close at N0.28 and N0.84 per share, on the market forces and earnings expectations. On the flip side, BOC Gases and NEM Insurance lost 9.09% and 8.33% respectively, closing at N4.50 and N2.20 on profit-taking and market forces.

Market Outlook
We expect the mixed trend to continue in the midst of profit-taking and positioning by investors taking advantage of the pullbacks, as the impact of last week’s CRR adjustment, slows down ahead of the full-year earnings reporting season. This is also against the backdrop that capital wave in the financial market may change in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which had pushed the market out of the bearish zone.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/01/indecision-still-on-ngse-transaction-volume-drops-as-investors-await-audited-reports/#more

How To Change Your Outcome in This Current Market

Ambrose Here Again,

You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, 'I lived through this horror. I can take the next thing that comes along... Eleanor Roosevelt

There are different types of fear. Precisely, 5 types of fear govern our lives whether you like it or not. However, its effect depends on your response because of E+R=O (E=Event, R=Response, and O=Outcome). So, in today's Market, E(bear Market) + Response (what are you doing currently, are you blaming the government, your stockbroker, self-pity, change of strategy by constant learning and research) =Outcome.

Hence, this invariably means that you can not control what happens in the market or your life but what you have control over is your response to the event. So, instead of you to stop investing in the stock market or lay low for a while until this phase ends, conquer your fear, don't sit home and think about it. Go out and get busy with information that will transform your life.

So, do you really want to change your outcome? If yes, you need to change your mindset about the market and approach because everything that we see in life was first conceived in the mind.

Fortunately, all this have been done through the below so there is nothing new under the sun:

1. Invest 2020 Home Study Pack.

So, if you are really ready to change your outcome subsequently, take action now regarding the above options. Time waits for no one. Don't follow the crowd. Call 08028164085,08032055467 or send an email to ambroseconsultants@yahoo.com Now!!!

Dedicated to Your Financial Success
Ambrose Omordion
https://investdataltd..com/2020/01/how-to-change-your-outcome-in-this.html

With many unpleasant stories around the world, January 2020 may have appeared to be difficult and less of what we expected but thanks to God we were not consumed by it. It is my prayer that from this new month of February onwards, we may recover from whatever unpleasant situations we might have had and may God better our lot that our lives may progress in a manner that will glorify Him and put the enemies to shame through Jesus Christ our Lord. Amen. Happy New Month to you my brother

www.investdataonline.com

Investors Realign Portfolios, Target High Dividend Yields, ROI, Full-Year, Q1 Earnings

Market Roundup For January 2020
The Nigerian Stock Exchange (NSE), in the month of January 2020, resisted a continuation of the two years of bear-run. In the process, it broke out the downtrend, defying what has come to be known and accepted as the “January effects,” on the strength of changes in regulatory policies in Q3 2019, which triggered a sharp drop in money market rates, as well as fixed instruments yields, resulting in positive sentiments for equity assets. Also important is the fact that most of these stocks had become considerably undervalued ahead of the market’s major corporate earnings season, as investors and traders positioned early, hence the reversal in the negative slant of the previous month.

At the close of trading for the month of January 2020, the composite NSE All-Share index recorded 7.46% gain, ushering in the much-anticipated market recovery, helped by the unconventional monetary policy stance of the Central Bank of Nigeria (CBN). This may have reawakened the need to stimulate economic productivity in the fiscal authorities, thereby driving the growth needed to support the performance of quoted companies, among others.
This is also without undermining the overall effects of economic stability. This has also been helped by the continued intervention in the foreign exchange market, even as the relatively low-interest rate and border closure has boosted and strengthened the nation’s manufacturing and agricultural sectors. This is likely to reflect on the score-cards of companies.


The mixed, but upmarket in January, was driven by the low price attractions and the renewed investor confidence in Nigerian stocks, which propelled the NSE to the top of global stock markets for the period. Also, noteworthy is the fact that the apex bank successfully maintained relative stability in the exchange rate of the Naira, in addition to boosting the nation’s manufacturing sector, resulting in the Purchasing Managers’ Index, although it dropped to 59.20 points in January from 60.8% in December 2019.
The market, during the 22 trading sessions of January recorded mixed performance, with 13 sessions of up and nine of down market drive by the negative reactions to the CBN’s adjustment in the Cash Reserve Requirements of banks to 27.5% at its first Monetary Policy Committee meeting in 2020. This left resulted in the last trading week of the month with five consecutive days of losses, as the NSEASI closed red at 28,843.53 points on Friday, January 31, after touching the month’s high of 29,909.06 basis points and low of 26,657.32bps.
The index had opened for the month at 26,842.07bps, representing 7.46% growth over the period. The ‘buy’ volume of total transactions for January was 67%, while the ‘sell’ position stood at 33%, reversing the previous month’s bear market.
Also, market capitalisation for the month gained a total of N1.96tr, closing at N14.86tr, from its opening value of N12.96tr, representing 14.66% appreciation in value, helped by the listing of BUA Cement Plc, and despite the delisting of Continental Reinsurance and Grief Africa from the NSE’s Daily Official List.

Due to the amendment of Rule 39 of the Securities and Exchange Commission and NSE permitting companies to file unaudited results within 30 day of Q4 end has changed the pattern of company filings. This is why over 67 companies filed their quarterly earnings reports in the period under review, most of which came mixed and without dividend recommendations.
The audited financials for full-year ended December 31, 2019, with the accompanying corporate actions, are expected to start hitting the market this month and March 31. However, the unaudited numbers released so far should guide income investors on how to position for the dividend. It is noteworthy at the moment that many stocks continue to trade below their Book Value and 52-week high level.
Market breadth for the month was positive and mixed as advancers outnumbered decliners in the ratio of 41:31, halting the bear transition that trapped the December Santa Claus and year-end rally.

Sectorial Performance for the month was largely bullish, except for the NSE Consumer Goods, Oil/Gas and Mainboard indexes that closed lower during the period on the strength of negative sentiment for the sectors, which was due to unimpressive earnings, and market forces. The NSE Industrial Goods index was atop the month’s performance chart, due to price appreciation in Beta Glass, Dangote Cement, and BUA Cement.


Best Performing Stock
The biggest gainers for the period under review were a mixture of kobo, medium and high cap stocks, which had been grossly impacted by improved ‘buy’ interest in equity and low price attraction before the recent adjustment in CRR that triggered some form of market correction and profit-taking.
The best performing stock for the month of January was Law Union and Rock Insurance, which gained 40% of its opening price, followed by Cornerstone Insurance with 31.11%, arising from the recapitalization exercise going on in that industry and the NSE’s new pricing methodology that changed the trading pattern of kobo stocks. We advise that you study fundamentals of your target companies before jumping in, or out.
BetaGlass followed on the gainers’ table, as its share price rose 30.11% on market sentiment; followed by Dangote Cement’s 26.69% on low price attraction and the proposed share buyback scheme; while Vitafoam Nigeria chalked 25%, as a result of its impressive full-year and Q1 results.


Worst Performing Stocks
The losers’ table was dominated by manufacturing companies due to the extended negative sentiments from the previous years, resulting from the sector’s weak and mixed earnings reports. Eterna Oil led the decliners after losing, 33.33% as was as a result of its unimpressive numbers; followed by Unilever which shed 31.82% due to its weak Q4 loss account; just as ABC Transport lost 24.44% of its opening price for the month; and Boc Gas, 18.18%.


Volume and Value
The month’s transaction volume was up by 85.1%, as stockbrokers crossed 8.44bn shares, up from the 4.56bn units traded in the month of December.
During the month, quarterly and some full-year earnings reports were published by an array of companies, with numbers coming mixed and below expectations except for Vitafoam, Julius Berger, Fidelity Bank and others that were above average.
Also, in the month of January, BUA Cement concluded their merger with CCNN, leading to the delisting of CCNN; just as Wapic Insurance and others concluded their primary market activities, while Stanbic IBTC listed additional shares as a result of bonus shares. Meanwhile, traders and investors continue to position for audited earnings season, amidst portfolio rebalancing, low valuations, capital wave, relatively low rates in money market and indecision among fund managers. Investors at this point are considering whether to HOLD, BUY or SELL, a decision that will depend on which audited full-year results beat market expectations, adequately reward shareholders.

Also, it is expected that the government would double ongoing efforts at developing the country’s infrastructure, enhance national security architecture, as well as the enabling business environment, alongside the faithful implementation of Nigeria’s 2020 budget in February, thereby supporting economic recovery. Considering these factors and relatively stabile polity around the market now, investors who understand the operations of the stock market should take this pullback wave as an opportunity to enter good stocks. Over 100 quoted companies with December 31, 2019, as financial year-end is due to release their audited report to the market before March 31. It is obvious that investment is against expectation, which is why when such expectations are not met, there is a need to quickly exit positions so as to protect your capital.
As investors, it is expected that you relate the current selling price of target stocks to their fourth-quarter unaudited earnings; as well as previous full-year Earnings Per Share; and the last dividend payout. This comparison will help you project whether the company can maintain, cut, or increase the dividend or not, before jumping in.

Note that earnings have always been a function of equity price movements, in addition to corporate actions of these companies, which are expected to attract more market players, dividend investors and possibly foreign bargain hunters to the market.
Over the years, the month of February on the Nigerian stock market is reserved for early filers, which suggests that traders and investors should be in the market before corporate score-cards start pouring in, so as to benefit from the earnings season momentum and volatility. Travel ban on Nigerians may further depress the market if foreign investors start exiting their positions.
In the history of Nigeria’s post-election years since 2000, market performance in the month of February has been positive, with four up and just one down season as revealed by the NSE’s index movement table above.

What to expect in February and March
• Continued volatility due to the lingering circular flow of funds, profit-taking and some disappointing some corporate results so far released. Also, the source of funds flow to the market may cause fluctuations as fund managers and institutional investors return to the market. The up and down movement will continue to create entry and exit opportunities.
• More audited earnings would be released into the market this period. Earnings from blue-chip companies may strengthen market fundamentals, especially from United Capital, Zenith Bank, Guaranty Trust Bank, Nigerian Breweries and Nestle Nigeria.
• As players reshuffle their portfolio to move in or out of equities, discerning investors should target strong fundamentally sound stocks, high Dividend Yield and the possibility of issuing bonus shares, we should expect stock prices to be in the upward direction if their numbers beat expectation.
• A more vibrant market as a result of market players positioning for audited full year and first quarter and then taking profit to reposition for the earnings season, even as we expect liquidity prices to improve with the entry of more foreign funds.
• Market outlook for the month of February and March is still very dicey, but investors should decide wisely, using dates, bids, offers, and volume while doing so.
• Managing risks and protecting capital at this point is very important, so you should be able to determine when to buy or sell by watching the stocks and the market, using technical analysis, aided by investdata buy & sell signal.
• Let numbers emanating from companies and releases/markdown dates guide you into a profitable investment.

Invest 2020 Opportunities & Trade Ideas Summit move to PORT HARCOURT
Attend our Port Harcourt INVEST 2020 Summit slated for February 8 at Emerald Hotel, No 193, Aba Road Rumuola, Time: 10.00 am. How to take advantage of the recovery stock market and 2019 corporate earnings season to change your financial position in a changing financial market and thinking as money market rates remain low.

The difference between you and others who are unaware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2020 and beyond by getting the just concluded and life-transforming INVEST 2020 Opportunities & Trade Ideas Summit Home study pack (USB) that you can play on your phone, Laptop and Television set. The event, which held on Saturday, December 7, 2019, was yet another successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2020, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks for 2020 with the possibility of making returns not less than 40% in a year.
Don’t sit on the fence call or text Stock to 08028164085, 08032055467, and 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/2020/02/investors-realign-portfolios-target-high-dividend-yields-roi-full-year-q1-earnings/#more

CBN OMO Policy Will Reduce FG’s Domestic Debt Service Burden- Osinbajo

Vice President Yemi Osinbajo hinted that the Federal Government is a major beneficiary of the Central Bank of Nigeria reform of its Open Market Operations (OMO), which has led to a situation where interest rates have dropped lower.
Besides the increase in Loan-to-Deposit Ratio that compels banks to offer 65% of their total deposit as loans, even as interest rates have become lower, just as “the interest rates especially for fixed bills, treasury bills.
In a lecture at the National Defence College Course 28 lecture on Friday, January 31, 2020, Osinbajo said unlike in the past when the government paid 14% interest, it is now between 3% and 6% for treasury bills.

“Government itself has an advantage, if you look at our debt burden today, most of our debt burden comes from servicing our debt, most of that debt is domestic debts. That means most of it is on paying back treasury bills. But when treasury bills were reduced to 5% – 6% from about 14%, it means that the government pays far less to service its debt. So, we are paying considerably less.
“The upshot is that the government will no longer be paying double digits interest on treasury bills, thus reducing the debt service burden while at the same time it means that the rates payable on commercial paper will also not be so high as to discourage investment.”
According to a statement by Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, the government is aware of the downside of a negative current account balance, hence the need to improve Foreign Portfolio Investment Flows, even as the low exchange rates result in a low FPI flow.

“One of the things we want to achieve is to get FPI especially foreign investments in other to be able to boost our reserves, but if the interest rates are low, it, of course, means that we are less attractive as a destination for portfolio investment. That has its good and bad sides, but I choose to describe it as a downside because it means we are going to see some reduction in FPI at least in a short time.
The Vice President said the CBN policy will ensure increased bank loans to the real sector, “because of the lowering of interest rates and the ban on Nigerian companies, banks, and individuals investing in treasury bills, it is now apparent that they must now lend to the real sector.”
In the past, he stressed further, “banks and individuals simply invested in treasury bills because treasury bills you could get 14%, 15% even higher just by investing in treasury bills. So, banks had no motivation whatsoever to lend to the private sector, because, without any risk at all, they could earn anywhere from 14% upwards. But today, because they can no longer do so, they have the deposits, Cash Reserve Requirement, CRR, is now at about 27.5% and because of that, they have enough resources to lend to the private sector.

“They have cheaper funds with them, and it is very obvious from what we are seeing today, that interest rates have dropped very sharply and we are not going to have the rather excessive rates we used to have. But the target, of course, is to be able to bring interest rates to a single digit. At the moment, only our development finance institutions such as the BOI are able to offer such types of loans.
“So, net domestic credit has increased by a little over 30% and a further attempt to reduce the cost of doing business is as I have said before reduction in fixed income yields, treasury bill rate,” he stressed further.

https://investdata.com.ng/2020/02/cbn-omo-policy-will-reduce-fgs-domestic-debt-service-burden-osinbajo/#more

SEC Working On Private Equity Funding Rules, Investment In Start-ups

The Securities and Exchange Commission (SEC), at the weekend said it is working on rules and regulations to ease participation by more Private Equity funds in business ventures and national economic growth, as they bring capital to businesses.
According to the acting Director-General of the commission, Ms. Mary Uduk, there is a nexus between adequate capital and business growth, given the critical role of capital in the growth of businesses, including generating profit for the investors, creating socio-economic benefits to the consumers, and enhancing overall economic growth.
Uduk, who spoke at the second private equity summit with the theme: ‘Drivers, Disruptors and Unlocking Value’, organized by Udo Udoma & Belo-Osagie (UUBO) in Lagos, weekend, said that Private Equity firms are important agents

According to her, Nigeria has lots of startups with robust business plans, many profitable unlisted companies with established cash-generating capacity, as well as public companies with solid customer bases, proven products, and high-quality management.
These businesses and opportunities, she continued, were yearning for investments, a situation PE firms can tap into, improving the investment climate, while ensuring friendly market rules and regulations as well as increased investor education as essential elements for attracting PE investments in Nigeria.
Initiatives for registering and developing the FinTech space in the capital market, she stressed, will also provide good opportunities for PE firms to invest in innovative start-ups operating in the capital market.

“The ISA 2007 empowers the Securities and Exchange Commission to register PE Funds. Based on their scope and the need to attract investors such as the Pension Funds, many PE firms and Infrastructure funds (often structured as PE), file their returns with the Commission,” Uduk said.
Uduk said the capital market provides the most efficient gateway opportunities for PE firms. The NASD Enterprise Portal, as a collaborative development in the market, aims at aiding PE firms to invest in and dispose of eligible companies’ securities in an easy and cost-effective manner.
According to her, as PE activities rise in the country, PE funds can utilize the opportunities provided on our various organized exchanges when exiting their investments. This will increase the quality of our listed public companies while allowing PE firms to benefit from the market liquidity, efficiency and increased participation available on the exchanges.
Uduk, therefore, expressed hope that the outcome of the summit will impact greatly and positively on the PE segment of our market, the capital market in general and our economy as a whole.
In a keynote on ‘fostering an enabling environment for investment in Nigeria’ at the event, Minister of Industry, Trade and Investment, Chief Niyi Adebayo, said the Federal Government will ensure that at least 40% of its expenditure goes into patronizing domestic goods and services. This, he noted, will facilitate local markets access for Nigerian made products.
Government, he noted, realizes that building production capacity alongside strategic partners with strong track records in some priority sectors is a critical success factor.

“Through the Nigerian Investment Promotion Commission, bilateral investment agreements are being modernized with a greater sense of purpose.
“Much of our most recent agreements target countries that align with our ambition of building local production capacity,” he said.
According to him, the government will seek a comprehensive approach to mobilizing capital, incentivizing priority sectors and expanding market access for local producers.
Adebayo said that the government would further enhance the ease of doing business and support the growth of MSMEs.
He said that the ministry had begun implementing a number of key initiatives, including the reactivation of the six special economic zones and the special agro-industrial processing zones project.
“In supporting the growth of MSMEs, we are easing access to capital, deploying shared facilities across the country and facilitating the delivery of tax and regulatory incentives for MSMEs.
“Our priority sectors cut across agriculture, construction and the automotive industry,” Adebayo said.
He said that Nigeria would remain critical to the global economic market as the country prepared for the inevitable rise of the world’s third most populous country.
“This also presents a compelling case for global investors when viewed against the backdrop of the country’s capacity for growth.
“Achieving a GDP per capita rate comparable to South Africa would catapult Nigeria’s GDP to over one trillion dollars.
“The dwindling prospects of oil and our growing population leave us with no choice but to develop a Nigeria that is investor-friendly, export-oriented, high producing and high growth,” Adebayo said.
He said that the government’s primary objective in the present decade was economic diversification and job creation.
“Diversification of our economy, or more precisely government revenues, must accommodate both short and long-term efforts because we no longer have the luxury of time; considering the realities of our growing population and the dwindling prospects of crude oil,” Adebayo said.

Senator Udoma Udo Udoma, the founder of UUBO, stressed the need for private sector participation in the development of the country’s economy.
Udoma said that the government must engage the private sector to ensure economic expansion, noting that the government could not do it alone and needs to create an enabling environment that encouraged the growth of private equity in the country.

Left to Right: Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed (left), in a chat with Senior Partner, Udo Udoma & Belo Osagie, UUBO), Aniekan Ukpaka, at the 2nd Private Equity Summit organized by UUBO; while Managing Partner of the firm, Dan Agbor, and Acting Director-General, Securities and Exchange Commission, Ms. Mary Uduk looks on.

https://investdata.com.ng/2020/02/sec-working-on-private-equity-funding-rules-investment-in-start-ups/

Invest 2020 Opportunities & Trade Ideas Summit move to PORT HARCOURT

Attend our Port Harcourt INVEST 2020 Summit slated for February 8 at Emerald Hotel, No 193, Aba Road Rumuola, Time: 10.00 am. How to take advantage of the recovery stock market and 2019 corporate earnings season to change your financial position in a changing financial market and thinking as money market rates remain low.
The difference between you and others who are unaware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2020 and beyond by getting the just concluded and life-transforming INVEST 2020 Opportunities & Trade Ideas Summit Home study pack (USB) that you can play on your phone, Laptop and Television set. The event, which held on Saturday, December 7, 2019, was yet another successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2020, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks for 2020 with the possibility of making returns not less than 40% in a year.
Don’t sit on the fence call or text Stock to 08028164085, 08032055467, and 08111811223 now.

What to expect in February and March
• Continued volatility due to the lingering circular flow of funds, profit-taking and some disappointing some corporate results so far released. Also, the source of funds flow to the market may cause fluctuations as fund managers and institutional investors return to the market. The up and down movement will continue to create entry and exit opportunities.
• More audited earnings would be released into the market this period. Earnings from blue-chip companies may strengthen market fundamentals, especially from United Capital, Zenith Bank, Guaranty Trust Bank, Nigerian Breweries and Nestle Nigeria.
• As players reshuffle their portfolio to move in or out of equities, discerning investors should target strong fundamentally sound stocks, high Dividend Yield and the possibility of issuing bonus shares, we should expect stock prices to be in the upward direction if their numbers beat expectation.
• A more vibrant market as a result of market players positioning for audited full year and first quarter and then taking profit to reposition for the earnings season, even as we expect liquidity prices to improve with the entry of more foreign funds.
• Market outlook for the month of February and March is still very dicey, but investors should decide wisely, using dates, bids, offers, and volume while doing so.
• Managing risks and protecting capital at this point is very important, so you should be able to determine when to buy or sell by watching the stocks and the market, using technical analysis, aided by investdata buy & sell signal.
• Let numbers emanating from companies and releases/markdown dates guide you into a profitable investment.

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

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's download.



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



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



However, if you have not joined the buying and selling signal membership, kindly indicate your interest so that one of our team members will call you immediately on how to get started immediately



To Your Success

Investdata Consulting.



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



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

Investdata Daily Sentiment Report as of February 5, 2020

NSEASI buy 14% sell 86% volume index 0.73 MFI 34.18
Access buy 29% sell 71% volume index 0.90 MFI 49.12
Aiico buy 50% sell 50% MFI 69.48
Chams buy 0% MFI 59.67
Corner buy � volume index 60.68
Fbnh buy 20% sell 80% volume index 1.69 MFI 32.71
Fcmb buy 62% sell 38% MFI 29.30
Fidelity buy 67% sell 33% MFI 33.16
Honyflour buy 0% volume index 1.52 MFI 58.54
Japaul buy 0% MFI 100.00
Jberger buy � volume index 0.97 MFI 84.90
Lawunion buy � volume index 0.74 MFI 97.45
Nahco buy 40% sell 60% MFI 66.97
Nem buy 0% volume index 0.90 MFI 67.51
Oando buy 0% MFI 74.16
Transcorp buy 83% sell 17% MFI 24.52
Uacn buy 0% volume index 1.82 MFI 28.48
Uba buy 50% sell 50% volume index 0.70 MFI 45.67
Ubn buy � volume index 5.07 MFI 73.05
Unity buy 0% volume index 1.49 MFI 11.46
Wema buy 0% volume index 1.16 MFI 39.83

https://investdataltd..com/2020/02/investdata-daily-sentiment-report-as-of.html

Investors Reposition Ahead Of 2019 Audited Earnings, Amidst Hope For Improved Liquidity


Market Update for February 4
Trading on the Nigerian Stock Exchange (NSE) extended its bearish sentiment on Tuesday for the seventh successive session, amidst a slowdown in the loss momentum as panic selloffs reduce with discerning investors cashing in on the pullbacks to accumulate a position in some stocks. This is especially true of banking stocks and others with impressive unaudited numbers capable of supporting dividend payouts when the final results are released.

This is particularly important, because the expected dividend announcement is around the corner, especially for early filers of audited financial reports, whose dividend yields are above the market average yields and Treasury Bills rates.
In the face of this current decline in the stock market, there are two spots to watch in the comings days and weeks that will signal reversal or continuation of this trend. These are the expected audited results with corporate actions, and the rate of returns in other investment windows. This will determine where the maturing the Central Bank of Nigeria (CBN) OMO investments will flow to as fund managers match the twin variables of returns and risk, just as money flow index is gradually looking up to indicate that funds are re-entering the market.
Tuesday’s trading opened on the downside before oscillating between the midday and afternoon on mixed sentiments, as selloffs continued in the face of repositioning that pushed the NSE index to an intraday low of 28,415.12 basis points, from its high of 28,540.30bps. It thereafter retraced up marginally, before closing lower at 28,432.27bps on a less than average traded volume.

Market technicals for the session were negative and weak, with volume traded slightly higher than the previous session’s, in the midst of negative market breadth and sentiments as revealed by Investdata Sentiment Report showing 86% ‘sell’ volume and 14% ‘buy’ position. The day’s total transaction volume index stood at 0.73, while the energy behind the day’s performance was weak, despite the slight increase in Money Flow Index, an indication that funds entered the market and some stocks despite the downmarket for the day.

Index and Market Caps
On Tuesday also, the composite NSE All-Share Index closed lower, after shedding 101.13bps, closing at 28,432.270bps from its 28.533.40bps opening, representing 0.35% drop, just as market capitalization lost N52.09bn, closing at N14.65tr, from an opening value of N14.7tr, representing a 0.35% 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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The persisted downturn was impacted by selloffs in stocks like, Guaranty Trust Bank, Zenith Bank, Access Bank, FBN Holdings, UBA, Wema Bank, FCMB, CAP, Dangote Sugar, UACN and Honeywell Flour, among others, which impacted negatively on the NSE’s Year-To-Date gain, reducing it to 5.92%. Market capitalization, YTD, dropped to N1.69tr, representing a 13.02% growth over the year’s opening value.

Bearish Sector Indices
All the sectoral performance indexes were also red, though at a reduced rate, led by the NSE Banking which lost 1.09%, followed by Consumer Goods with 0.82%; Insurance, Oil/Gas and industrial goods with 0.65%, 0.16%, and 0.08% respectively.
Market breadth remained negative as decliners outnumbered advancers in the ratio of 23:7, while market activities were mixed with volume traded inching up by 1.3% to 254.86m shares from the previous day’s 251.6m units. Transaction value declined by 27.8% to N3.04bn, from Monday’s N4.21bn. Volume was driven by transactions in Zenith Bank, FBNH, Access Bank, UBA and Guaranty Trust Bank.
The best-performing stocks for the session were Union Bank of Nigeria and Wapic Insurance with each gaining 10% to close at N6.60 and N0.33 per share, on market forces and sentiments. On the flip side, NEM Insurance and Royal Exchange Assurance were the biggest laggards, shedding 10% each, while closing at N2.16 and N0.27 on profit-taking and market forces.

Market Outlook
We expect a sustained pullback at a slower pace, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news and declaration. This is also against the backdrop that capital wave in the financial market that may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.
Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.

Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/investors-reposition-ahead-of-2019-audited-earnings-amidst-hope-for-improved-liquidity/#more

Investdata Daily Sentiment Report as of February 6, 2020

NSEASI buy 13% sell 87% volume index 1.00 MFI 24.83
Access buy � MFI 39.07
Aiico buy � volume index 2.57 MFI 77.81
Eti buy 40% sell 60% volume index 5.92 MFI 26.39
Fbnh buy 0% volume index 2.27 MFI 22.55
Fcmb buy 0% volume index 2.50 MFI 38.91
Fidelity buy 43% sell 57% MFI 33.81
Fmn buy � volume index 1.24 MFI 9.36
Glaxo buy 6% sell 94% volume index 3.21 MFI 3.56
GT buy 25% sell 75% MFI 40.79
Jaiz buy 0% MFI 42.97
JBerger buy � MFI 89.74
Linkass buy � volume index 5.34 MFI 69.83
Oando buy 0% MFI 71.84
Sterling buy � volume index 2.97 MFI 28.29
Transcorp buy 25% sell 75% MFI 27.59
Uacn buy 25% sell 75% volume index 1.04 MFI 27.55
Uba buy � MFI 42.35
Ubn buy � volume index 7.65 MFI 86.27
Ucap buy � MFI 29.84
Wema buy 0% MFI 40.11
Zenith buy 22% sell 78% volume index 2.14 MFI 35.17

https://investdataltd..com/2020/02/investdata-daily-sentiment-report-as-of_6.html

Investors Go For Strong Upside Potentials, Fundamentals Selling Below Book, Fair Value

Market Update for February 5
The Nigerian stock market was dragged further down at midweek, maintaining its bearish stance for the eighth consecutive session after highly capitalized stocks suffered huge losses on continued selloffs by investors repositioning their portfolios and taking advantage of the pullbacks to position in high dividend-paying stocks.
The first financial year ended December 31, 2019, audited result for the season was presented by Infinity Trust Mortgage Bank during the trading session, along with the declaration of 0.035 kobo (three and a half kobo) dividend. This ushered in the all-expected dividend announcement expected to trigger buying interests again as more early filers release their audited accounts and corporate actions in the coming days and weeks. Also on Wednesday, the board of SUNU Assurances presented its plan for a share reconstruction to be followed by fresh capital raising programme for N8bn in its bid to meet the new regulatory minimum for it to continue in business (READ MORE)

There is also the expected large volume of funds from maturing Central Bank of Nigeria Open Market Operation and Treasury Bills, that will likely further crash money market rates, and in the process trigger profit-taking in fixed income instruments like bonds and commercial paper. This is because investors may not rollover their positions, but hold cash or look the way of equity market for the short-term, especially now that the earnings season has kicked off.
Despite the continued and even significantly high volatility and mixed performance in the market, players still see value and upside potentials in equities with strong fundamentals and selling below their book and fair value.

The global markets unexpectedly rebounded in the midst of geopolitical uncertainties and slowdown in the Coronavirus saga, even as the Nigerian market has strong potentials to rebound, suggesting that investors should not panic but watch the market.
Meanwhile, Midweek’s trading started on the upside until mid-morning when it pulled back and oscillated between midday and afternoon on selloffs and profit-taking in non-financial sectors, amidst repositioning which pushed the composite NSE All-Share index to intraday low of 28,032.33 basis points, from its high of 28,506.63bps. It thereafter retraced up slightly, before closing lower at 28,093.76bps on a high traded volume.
Wednesday’s market technicals were negative and mixed, with volume traded higher than the previous session’s in the midst of negative market breadth and selling pressure as revealed by Investdata Sentiment Report showing 87% ‘sell’ volume and 13% ‘buy’ position. The day’s total transaction volume index stood at 1.00, while the momentum behind the day’s performance was weak, as Money Flow Index fell to 24.84 points from the previous day 34.18point, indicating that funds exited the market and some stocks.

Index and Market Caps
At the close of midweek’s trading, the benchmark index NSEASI lost 338.51bps, closing at 28,032.23bps from its 28.432.27bps opening, representing a 1.19% decline, just as market capitalization shed N174.37bn, closing at N14.47tr, from an opening value of N14.65tr, representing a 1.19% depreciation in value.

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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The day’s decline was driven by selloffs and profit-taking in Dangote Cement, 11 Plc, Nigerian Breweries, Conoil, UACN, FBNH, Oando, and ETI, among others, which impacted negatively on the NSE’s Year-To-Date gain, reducing it to 4.66%. Market capitalization, YTD, dropped to N1.23tr, representing 11.89% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Banking and Insurance Indexes that closed 1.46% and 0.63% higher respectively, while the NSE Oil/Gas led the decliners after losing 2.19%, followed by Industrial and Consumer Goods with 1.63% and 1.37% respectively.
Market breadth remained negative as decliners outnumbered advancers in the ratio of 21:18, while market activities in volume and value traded rose by 37.4% and 40.7% respectively to 350.21m shares worth N4.28bn, from the previous day’s 254.86m units valued at N3.04bn. Volume was driven by transactions in Zenith Bank, FBNH, FCMB UBA, and Ecobank Transnational Incorporated.
Union Bank of Nigeria and Law Union Insurance were the best-performing stocks of the session, gaining 9.85% and 9.52% to close at N7.25 and N0.92 per share, on market forces and sentiments. On the flip side, Conoil and National Salt suffered the biggest losses, shedding 10% each while closing at N18.00 and N13.50 on profit-taking and selloffs.

Market Outlook
We expect a change in trend, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news and declaration. This is also against the backdrop of the fact that capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/investors-go-for-strong-upside-potentials-fundamentals-selling-below-book-fair-value/#more

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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again

Market Outlook
We expect a change in trend, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news and declaration. This is also against the backdrop of the fact that capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.

Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.

This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.

Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Investdata Daily Sentiment Report as of February 11, 2020

NSEASI buy 0% MFI 9.94
Access buy 0% MFI 24.51
Afrprud buy � volume index 1.09 MFI 37.76
Chams buy � volume index 1.09 MFI 60.14
Eterna buy 50% sell 50% volume index 11.97 MFI 0.00
Fbnh buy 0% volume index 1.55 MFI 21.59
Fcmb buy 20% sell 80% MFI 54.29
Fidelity buy 50% sell 50% volume index 1.13 MFI 32.98
Honyflour buy 0% MFI 54.16
Jaiz buy 50% sell 50% MFI 44.16
Jberger buy 0% MFI 93.86
Lasaco buy � MFI 35.90
Lawunion buy � MFI 98.55
Lvstk buy 20% sell 80% volume index 4.69 MFI 92.39
M&B buy � volume index 3.07 MFI 0.00
Nahco buy � MFI 63.19
Npf buy � volume index 1.58 MFI 11.45
Oando buy 0% volume index 1.48 MFI 46.33
Prestige buy � volume index 3.57 MFI 61.00
Sovereins buy � volume index 13.33 MFI 93.48
Transcorp buy 83% sell 17% volume index 1.27 MFI 20.90
Uacn buy � volume index 2.49 MFI 43.79
Uba buy 0% MFI 27.93
Ucap buy � MFI 11.79
Wapco buy 0% MFI 40.66
Zenith buy 25% sell 75% MFI 32.39

https://investdataltd..com/2020/02/investdata-daily-sentiment-report-as-of_11.html

NGSE May Sustain Seeming Reversal, As Mixed Intraday Movement, Profit-Taking Continue

Market Update for February 6
Trading on the Nigerian Stock Exchange on Thursday was very volatile and mixed but halted eight straight days of decline as the benchmark NSE All-Share index closed marginally up on an above-average traded volume and improved buying interests in financial service stocks.
Recall that on Tuesday we talked about two factors to watch that would likely dictate market sentiment and direction in the coming days- the audited earnings reports accompanied with dividend declaration and the rates of return in other investment outlets. It is clear that expectations of improved earnings and payout have triggered a demand for banking stocks again after they had suffered losses in recent times, as the market prepares to welcome their full-year numbers any moment from next week. More companies have, nonetheless, continued to publish their unaudited reports and closed period as signs of plans for the early filing of their audited accounts.

Technically, candlestick formation at the end of Thursday’s trading signaled the possibility of a reversal, which is a function of market forces and needs to be confirmed and followed through in the coming days. It is important to also understand that the market may be triggered by impressive financials and payout as all eyes are now on the audited results.
Indeed, the Presidential Economic Advisory Council team met with President Muhammadu Buhari on Thursday and members reechoed the position of Investdata and other financial market analysts on the lack of coordination between the country’s monetary and fiscal policy, leading to a misalignment. This, they told the president, has been extended to Federal Ministries, Department, and Agencies, as shown in the absence of teamwork which has resulted in sluggish economic growth and recovery (READ MORE). The mismatch in government policies, has been further worsened by the unconducive business environment, which has made them relatively low-interest rate inconsequentially and unable to propel the anticipated boost in productivity, and job creation, twin factors that should oil the macro-economy, thereby enhancing the living standard of Nigerians

Thursday’s trading opened on the upside and was sustained till early afternoon, before pulling back and oscillating in the last few minutes of the session on intraday profit booking which cut some of the early gains especially by banking stocks. This pushed the NSEASI to intraday high of 28,385.36 basis points, from its low of 27.949.15bps. It thereafter finished the session slightly higher than it opened at 28,140.41bps.
Market technicals were positive and mixed, with lower volume traded than the previous session’s in the midst of market breadth that favoured the bulls and mixed sentiment as revealed by Investdata’s Sentiment Report showing 56% ‘sell’ volume and 44% ‘buy’ position. The day’s total transaction volume index stood at 0.88, while the impetus behind the day’s performance was seriously weak, with Money Flow Index falling to 16.65 points from the previous day 24,84point, indicating that funds exited the market and some stocks.

Index and Market Caps
At the end of Thursday’s trading, the benchmark index gained a marginal 46.65bps, closing at 28,140.41bps from its 28.032.23bps opening, representing 0.17% rise, just as market capitalization gained N26.41bn, closing at N14.5tr, from an opening value of N14.47tr, representing a 0.18%. This followed Thursday’s listing of additional 2.26bn ordinary shares of 50 kobo each at N1.05 per unit in favour of Abbey Mortgage Bank (READ MORE).
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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The upturn was impacted by ‘buy’ interest in Guaranty Trust Bank, FBNH, Zenith Bank, UBA, Access Bank, ETI, Oando, UACN, Vitafoam, and Honeywell, among others, which impacted negatively on the NSE’s Year-To-Date gain, reducing it to 4.84%. Market capitalization, YTD gain, dropped to N1.52tr, representing 11.88% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for the NSE Industrial and Consumer goods Indexes that closed 1.87% and 0.12% lower respectively, while the NSE Banking led the advancers after gaining 3.32%, followed by Insurance and Oil/Gas with 0.11% and 0.07% respectively.
Market breadth turned positive as advancers outnumbered decliners in the ratio of 20:15, while market activities in volume and value traded fell by 9.43% and 19.86% respectively to 317.19m shares worth N3.43bn, from the previous day’s 350.21m units valued at N4.28bn. Volume was driven by transactions in FBNH, FCMB, Zenith Bank, UBA and Nigerian Breweries.
Law Union Insurance and Wema Bank were the best-performing stocks of the session, gaining 9.78% and 7.58% to close at N1.01 and N0.71 per share, on the ongoing recapitalization exercise in the industry, and earnings expectation. On the flip side, SKYAVN and C & I Leasing lost 9.88% and 9.775 respectively, closing at N3.74 and N6.00 on selloffs and profit-taking.

Market Outlook
We expect the seeming reversal to be sustained, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news and declaration. This is also against the backdrop of the fact that capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing the 10 Golden Stocks for 2020 are available. To obtain your pack, send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/ngse-may-sustain-seeming-reversal-as-mixed-intraday-movement-profit-taking-continue/#more

Pullback, Profit-taking May Slowdown, As Investors Position Amidst Market Correction

Market Update for February 3
The benchmark All-Share index of the Nigerian Stock Exchange (NSE) again closed significantly lower on Monday, the first trading session of the month and week, amidst the spread of the coronavirus, while falling oil prices at the international market threaten the global stock markets and economy.

The NSE’s index extended its losing streak for the sixth consecutive day, reflecting apparent concerns among investors over the recent U.S visa ban on Nigeria and the lingering insecurity in the country, as the monetary and fiscal authorities fail to align their policies for a clear economic direction. Add these to the general pattern of the unaudited Q4 and 2019 full-year results released, which are confusing to many investors, given the mixed numbers and the fact that no dividend has been declared so far by December 31 year-end companies.
It is a dicey market at the moment, as negative sentiments of last week extended in the midst of mixed technicals and fundamentals as more companies release their unaudited financial positions which have so far served as an eye-opener to investors. The market is on a correction wave of previous projections and expectations by investors upon which several positions were based before now.
This suggests that the market may remain dull until announcements about dividend payments begin, at a time Money Flow Index has dropped significantly in the last one week, revealing that funds have exited the market significantly, despite rising slightly to read 33.27 from the previous 30.14.

Meanwhile, Monday’s trading started on the downside and was sustained throughout the day on continued negative sentiments and selloffs that pushed the benchmark Index to an intraday low of 28,389.60 basis points, from its high of 28,843.53bps. It thereafter retraced up slightly, before closing lower at 28,533.40bps on a low traded volume.
Market technicals were negative and weak, with volume traded lower than the previous session’s, in the midst of negative market breadth and mixed sentiments as revealed by Investdata’s Sentiment Report showing 68% ‘sell’ volume and32% ‘buy’ position. The day’s total transaction volume index stood at 0.70, while the momentum behind the day’s performance was weak, despite the slight increase in Money Flow Index, an indication that funds left the market, but entered some stocks.

Index and Market Caps
At the end of Monday’s trading, the composite NSEASI lost 310.13bps, closing at 28,533.40bps, from the 28.843.53bps opening, representing 1.08% decline, just as market capitalization depreciated by N159.75bn, closing at N14.7tr, from an opening value of N14.86tr, representing a 1.08% value loss in investors’ portfolios.
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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The continued decline was impacted by selloffs in banking stocks, especially Guaranty Trust Bank, Zenith Bank, Access Bank, FBN Holdings, Fidelity Bank, FCMB, Forte Oil, Cadbury, Lafarge Africa, among others, which impacted negatively on the NSE’s Year-to-Date gain, reducing it to 6.30%. Market capitalization, YTD, drop to N1.74tr, representing a 13.42% growth over the year’s opening value.

Bearish Sector Indices
All the sectoral performance indexes were down, led by NSE Banking, with lost 3.85%, followed by Industrial Goods with 1.25%; Oil/Gas, Insurance and Consumer goods with 0.77%, 0.14% and 0.07% respectively.
Market breadth remained negative as decliners outnumbered advancers in the ratio of 24:8, while market activities, in terms of volume and value, dropped by 27.83% and 25.18% respectively to 251.6m shares worth N3.15bn, as against the previous 348.61m units valued at N4.21bn. Volume was driven by transactions in Zenith Bank Guaranty Trust Bank, FCMB, UBA and FBNH.
Law Union & Rock Insurance and Honeywell Flour were the best-performing stocks, gaining 10% and 9.28% respectively to close at N0.77 and N1.08 per share, on market forces and improved sentiments. On the flip side, NCR Nigeria and Forte Oil were the biggest laggards, shedding 9.97% and 9.95% respectively, closing at N2.98 and N18.55 on selloffs and market forces.

Market Outlook
We expect this pullback to slow down despite the likely continuation of the mixed intraday movement in the midst of profit-taking and positioning by investors taking advantage of the correction ahead of dividend news. This is also against the backdrop that capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming of the full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/pullback-profit-taking-may-slowdown-as-investors-position-amidst-market-correction/

Bargain-Hunting In Underpriced, Sound Stocks Ahead, Amidst Attractive Dividend Yields

Market Update for the Week Ended February 7 and Outlook for Feb 10-14
Equity prices on the Nigerian Stock Exchange, last week slumped further, making two trading weeks of market reactions to the decision of the Central Bank of Nigeria CBN) Monetary Policy Committee MPC) to adjust the industry’s Cash Reserve Requirement for banks in the country. This was made worse by reactions to the mixed to emerging earnings reports as listed companies file their unaudited Q4 numbers without any dividend announcements yet.

This situation, coupled with the Coronavirus threats which triggered selloffs by foreign fund managers in many emerging markets in the early days of the week, further heightened concerns among investors following the recent US visa ban on Nigerians in the face of rising insecurity and the slow economic recovery. The lack of real coordination between the fiscal and monetary policy authorities in the country has not helped matters, with no complementary action to all the unconventional policy actions of the CBN to boost national productivity.
Last week, the Nigerian stock market, in four trading days, was bearish, closing just one day in green as it attempted to rebound but gave up in the aftermath of continued sell pressure. In the process, investors seemingly ignored the first audited full-year result for the financial year-end December 2019 presented by Infinity Trust Mortgage Bank during the week, along with the offer to pay 0.035 kobo (three and a half kobo) dividend to its shareholders. This corporate action ushered in the all-expected dividend announcement likely to trigger ‘buy’ interests again, as more early filers release their audited accounts in the coming weeks.

Meanwhile, despite the excess liquidity witnessed during the week owing to the maturity of investments in the CBN Open Market Operation and Treasury Bills windows, more of which would mature in this new week. This is likely to further crash money market rates, and in the process trigger profit-taking in fixed income instruments like bonds and commercial papers. This is because investors may not rollover their positions, but hold cash or look the way of the equity market for the short-term, especially now that the corporate results with dividend declaration have kicked off.
It is also important and interesting to note, when investors respond in a manner opposite to the general expectation, such subtle indications often reveal the minds of market players, because at such times perhaps, many are feeling a bit less adventurous towards taking investment risks. If such sentiment carries the day, then it might be a good time for investors to look the way of defensive stocks with strong fundamentals, which are selling below their book and fair value.

However, major stock markets of the world recorded positive outings last week, driven by a number of developments that suppressed the weak sentiments of the previous week, created by the ravaging effects of Coronavirus, the new virus from China. Top among these developments was China’s announcement of a slash in tariffs imposed on some goods from the U.S, as well as the positive labour data. The effects of these were however dampened by concerns over the economic spillover of the zero growth prediction in China in the New Year that would impact negatively on the U.S and others, due to the global interconnectivity

Movement Of NSEASI
The composite NSE All-Share Index closed for the first trading session of the week on a negative note, losing 1.08%, a trend that was sustained till midweek with the index shedding 0.35% and 1.19% respectively. The market attempted to rebound on Thursday by gaining 0.17% but gave up on Friday, losing 0.26% due to continued ‘sell’ pressure to wrap-up the week on negative sentiments.
The NSEASI, which opened the week at 28,843.53 basis points, touching an intra-week high of 28,843.53 basis points and low of 27,949.15bps on an increasing ‘sell’ pressure and profit booking in all sectors except Insurance, closed the week at 28,067.09bps, representing a 2.69% decline on a lower traded volume. Also, market capitalization fell to N14.62tr, from N15.2tr, representing a 1.61% value loss. This was lower than the rate of decline in the index, due to the effects of the additional 2.26bn ordinary shares of Abbey Mortgage listed on the NSE (READ MORE); a well as the right issue issues shares of International Breweries (READ MORE).

The week’s Advancers’ table was dominated by low cap stocks, as sell pressure hit medium and large companies as repositioning in high Dividend Yield stocks continued in the midst unaudited and mixed corporate earnings that impacted the week negatively while investors cautiously awaited the release of audited accounts and corporate actions.
Also, the prevailing negative sentiment was evident in market breadth that was down during the period, with decliners outpacing advancers in the ratio of 49:15. The momentum behind the week’s performance was strong despite sliding down marginally, as revealed by the Money Flow Index of 73.60bps, compared to the 75.46bps of the previous week.
The low volume of trade resulted from indecision among market players ahead of the release of audited 2019 full-year scorecards, even as Investdata’s Sentiment Report for the week was negative at 13% ‘buy’ volume, and 87% ‘sell’ position, on a transaction volume index of 1.19.

NSEASI Weekly Time Frame
Technically, the NSE is pulling back and this trend is likely to continue unless positive audited accounts with dividend declaration start hitting the market next week as many fund managers are holding cash in expectation of economic data like January inflation and Q4 2019 GDP reports slated for February 17 and 24 respectively. This will determine which windows they will be looking at equity or fixed income market as assets repricing persist in the financial market.

The negative sentiment behind the NSE Index price action and trading pattern for the week remained dicey despite the earnings expectations that support a reversal in trend. The index touched 27,949.15bps within the period, an indication of wake inflow into the market as institutional investors and fund managers position for the last two weeks is weak ahead of the audited earnings season.
MACD remains bullish on the weekly chart and bearish on a Daily Timeframe, with the composite NSE index sustaining a downward movement that signals a slowdown in the recent recovery as selloffs and profit-taking persist at the end of the first trading week of February.
The NSE’s benchmark index on a weekly time frame is trading above its 50-Day Moving Average, The Relative Strength Index read 50.53, indicating relative strength. However, Money Flow is reading 73.60 points and looking down on the weekly chart which is an indication that funds are leaving the market and individual stocks.

BearishSectoral Indices
All the sectorial performance indexes for the week were down, except for the NSE Insurance that closed marginally up at 0.23%, while the NSE Industrial Goods Index led the decliners, after losing 4.07%, followed by the NSE Oil/Gas, Consumer Goods and Banking indexes that were down by 3.05% 2.23% and 1.51%, respectively.
Market activities, in terms, of volume and value for the week were down by 5.13% and 22.13% respectively, as investors exchanged 1.48bn shares worth N20.3bn, as against the previous week’s 1.56bn units valued at N26.07bn. This volume was mainly driven by trades in financial services stocks, especially in Zenith Bank, FBN Holdings and Guaranty Trust Bank.
The best-performing stocks of the week were Law Union & Rock Insurance and UBN, which topped the advancers’ chart after gaining 58.57% and 17.80% respectively, closing at N1.11 and N6.95 per share on bargain hunting over the industry consolidation, and sentiments. On the flip side, C & I Leasing and Royal Exchange Assurance lost 26.53% and 16.67% respectively, closing at N5.40 and N0.25 per share on selloffs.

Market Outlook
We expect more corporate earnings release to dictate the market direction in the midst of profit-taking and repositioning by market players, as more OMO and bond investments mature, making more funds available for equity investment, despite the fact that funds managers are holding on to cash. This is just as more liquidity finds its way to high Dividend Yield stocks with sound fundamentals, which will also be based on a seemingly positive outlook for the domestic economy, despite the mixed outlook for 2020 from various analysts.
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 and therefore offers high upside potential.

We should, 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.
Again, the current undervalued state of the market offers investors opportunities to position for the short to long-term, which is why investors should target fundamentally sound and dividend-paying stocks for possible capital appreciation in the New Year. This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Opportunities & Trade Ideas Summit.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

Meanwhile, we thank all the participants of the PHC Invest 2020 Summit last weekend, as we also welcome you all to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available with an average return of 13.37% in less than 30 days. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/bargain-hunting-in-underpriced-sound-stocks-ahead-amidst-attractive-dividend-yields/#more

Negative Sentiments Still, As NGSE Index Tests New Support, Await Trigger To Reverse Trend

Market Update for February 10
Nigeria’s stock market extended its bull trap on Monday with the composite All-Share Index declining further in the midst of mixed earnings reporting season and profit-taking that hit highly capitalized stocks resulting in 14 sessions of decline in the New Year, which almost wiped out another 14 sessions of gains in 2020, leaving investors confused.
The news of coronavirus resurgence, claiming the highest number of lives in one day has heightened outflow pressure in emerging and frontier markets like Nigeria, just as global trade and oil prices fell further.

Technically, the candlestick formation at the end of Monday’s trading session revealed a negative sentiment, which has broken down the 28,000 psychological line to test a new support level of 27,772.16 basis points while awaiting a trigger to reverse the trend. Going by the strongly bearish stand, it can easily be assumed that the said support level will be fully challenged by the bears when the market opens for Tuesday’s trading.
Nevertheless, it should be noted that the current bear-run in the market has dragged several blue-chip prices to an attractive point. On the strength of this, we recommend that traders take advantage of such low prices.
Meanwhile, Monday’s trading started on the upside into the mid-morning before it was short-lived between the midday to the afternoon on profit-taking in high cap stocks that pushed the NSEASI to intraday low of 27,772.16bps, from its high of 28,119.19bps. It thereafter adjusted up slightly to finish the session lower at 27,773.16bps.

Market technicals were negative and mixed, with lower volume traded than the previous session’s in the midst of flat market breadth and negative sentiment as revealed by Investdata’s Sentiment Report showing 100% ‘sell’ volume and 0% ‘buy’ position. The total transaction volume index stood at 0.56, while the momentum behind the day’s performance was seriously weak, as Money Flow Index inched up to 9.94 points from the previous day 9.72points, indicating that funds enter the market but left some stocks.

Index and Market Caps
At the close of Monday’s trading, the benchmark index lost 294.90bps, closing at 27.773.16bps from its 28.067.09bps opening, representing 1.05% decline, just as market capitalization shed N153.6bn, closing at N14.46tr, from the N14.52tr it opened, which also represented a 1.05% 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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

Monday’s downturn was driven by profit-taking and selloffs in Nestle Nigeria, MTNN, Guaranty Trust Bank, FBNH, UBA, Access Bank, Lafarge Africa, Oando, and Honeywell, among others, which impacted negatively on the NSE’s Year-To-Date gain, reducing it to 3.47%. Market capitalization, YTD, gain dropped to N1.51tr, representing 11.62% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Insurance and Industrial Goods Indexes that closed 0.86% and 0.76% higher respectively, while the NSE Consumer Goods led the decliners after shedding all of 4.72%, followed by Oil/Gas and Banking with 0.55% and 0.54% respectively.

Market breadth was at par as advancers equaled decliners in the ratio of 17:17, while market activities in volume and value traded fell by 34.14% and 69.89% respectively to 200.16m shares worth N1.92bn, from the previous day’s 303.93m units valued at N6.39bn. Volume was driven by transactions in FBNH, Transcorp, Zenith Bank, UACN and Fidelity Bank. Also, the share price of Vitafoam was adjusted for the 42 kobo dividend declared by its board.

Sovereign Trust Insurance and Transnationwide Express were the best-performing stocks of the session, gaining 10% and 9.88%, closing at N0.22 and N0.89 per share, on the strength of the ongoing recapitalization exercise in the industry, and market forces. On the flip side, Nestle Nigeria and Linkage Assurance lost 10% and 9.68% respectively, closing at N1, 242.00 and N0.56 on selloffs and profit-taking.

Market Outlook
We expect a slowdown in losing momentum which will usher in reversal, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news. This is also against the backdrop of the fact that capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.

Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/negative-sentiments-still-as-ngse-index-tests-new-support-await-trigger-to-reverse-trend/#more

Welcome to Bullish of February.

Ambrose Here...

This post is for Serious Investors. If you are not a serious investor, please don't bother to read further because Faith Without Action (Work) is Dead

This is the season we have been waiting for, however, from my years of experience, this is time people sell their positions in the money market to buy into stocks for quick shorter returns especially when dividend yields are high returns benefiting from it and it is because

1. They invested in the materials and training about the Stock Market.

2. They engage one of the best stock consultants and were ready to give it what it takes.

3. They registered into the paid community of serious for more financial education.

4. They registered for premium membership daily …
[2:35 PM, 2/4/2020] Investdata 2: Updated SEC circular on Corporate Reporting

Akintola, Dele (Stanbic IBTC)

The Securities and exchange commission amended Rule 39 which has to do with the filing of the full Year audited financial statement by Public Companies to both the SEC and the Nigerian Stock Exchange (“The NSE”). Before this amendment, Public Companies were NOT required to publish their full-year unaudited results on the floor of the stock exchange. The expectation was that Public Companies would submit their Audited Financial Statements for the prior year, on or before 31 March 2020 of the following year.

What was the Rationale?

The SEC has taken a view that there is a significant gap between when Public Companies last reported their results for a current year (31 October) to when the Audited results will be published (31 March) (about six months). Thus to reduce this gap, and keep the market informed timely of the performance of Public Companies, the SEC has directed all Public Companies to elect one of the following two options:

To file their Full Year Unaudited Results within thirty (30) days after the quarter-end and subsequently file the Audited Results within ninety (90) days after the year-end or;
Not file their Full Year Unaudited Results; however, MUST file their Audited Results within sixty (60) days after the year-end.

There is no nice way to put this - Some companies get away with murder in these markets. This has destroyed minority shareholders’ confidence especially because companies get away with blatant unethical practices and no one is being brought to book to face the music. The relatively lax regulatory environment led to the loss of personal and institutional capital across all spectrums of investors. I strongly believe the intent of the SEC in this regard with this amendment comes from a good place and it is a good starting point to look for a way to curb market malpractices. It is probably not perfect in its current form depending on who is looking at it. It is, however, a welcome development and there is room for adjustments but I would not shut it down completely. We suspect the SEC is probably taking feedback on these amended rules which we believe could be in a pilot phase, it is plausible that the rules could be adjusted in such a manner that it will still achieve the intent for which it was amended in the first place. These amendments are probably a reaction to the continued flouting of the existing rules and SEC felt a need to tighten the nose on erring companies.

There are many cases of erring companies who do not release financial accounts on time or release it after the cut off period or a blatant case where there is simply no sense of urgency from the Management of these companies. I think the SEC needs to up significantly the fine of NGN1mn naira and also the daily rate – for most corporates, it is chicken change and would pay it comfortably. The SEC needs to send a clear and stronger message that timely corporate reporting of financial statements is paramount. For now, we believe it obeys first, complaints later. Any corporate yet to submit their unaudited financials to the NSE by tomorrow 31st of January, 2020 is expected to have its audited accounts hitting the floor of the NSE on the last day of February, 2020. I think the SEC can go further by ensuring that any company that hasn’t reported by a certain deadline must mandatorily release its Management unaudited account on the NSE within 7 days of the end of the deadline. Failure to do that should lead to the suspension of trading on the stock. We gather from some corporates that we speak to that there have been engagements held with the SEC and this is likely a pilot scheme to see the impact then decide whether to continue the practice in the future. Some operators feel that the unaudited accounts will mislead the market especially for investors who are constantly seeking dividend payment.

Specifically to the banks, given that they still need to get CBN approval, the deadline for banks could be 31st March of any given year. In terms of unaudited FY statement, I can also argue that where we see a major deviation of the audited account from the unaudited accounts, it raises a red flag for me in terms of the account practices of such a corporate. Given it is an audit process, we can allow for a 5-10 percent margin for adjustment, anything more than that would tell a lot. Imagine a Bank XYZ had declared NGN10bn of NPLs and at the end of the audit and CBN approval process, NPLs end up at about NGN50bn – Ladies and gentlemen, we have a problem with the internal reporting of the entity.

Happy to hear your thoughts – drop into my inbox.

What was the action? What was amended? (Scroll to page 11 of the attached document for full details)

Amendment to Rule 39 (2):
The annual reports, prepared by the International Financial Reporting Standard (IFRS) shall be filed simultaneously with the Commission, the relevant exchanges (where applicable) and placed on the companies’ websites not later than ninety (90) days after the financial year-end.

Amendment to Rule 39 (6):
The annual report shall state the level of compliance of the public company with the Corporate Governance Guidelines for public companies as may be issued by the Commission from time to time and the Nigerian Code of Corporate Governance, 2018.

Amendment to Rule 39 (7):
Any company that fails to file its annual report with the Commission as in (1) above shall be liable to a fine of N1million and the sum of N25,000 for every day the default continues.


Amendment: Creation of Sub-Rule (
A public company shall not later than thirty calendar days before the due date, apply for an extension of time to file its audited financial statement/annual report. Such application shall state the reason(s) for the inability to file within time and shall be supported with relevant documentary evidence.

In granting the application for extension, the Commission may consider the following:

The occurrence of an unforeseen circumstance
National emergency
Intervention by a government regulatory agency.


Amendment: Creation of Sub-Rule (9)
A public company whose application has been granted for the extension of time to file its audited financial statements under these rules shall be required to publish a notification of its impending failure to file on the due date in a national newspaper and on the company’s website. The reason(s) for the imminent failure to file shall be disclosed in the publications.

Amendment: Creation of sub-rule (10)
Where a public company fails to file its audited financial statements on or before the due date, the Commission may direct that trading on its shares be suspended and may impose any other sanction as it deems fit. Suspension of trading may also apply where a company has been granted an extension but fails to file at the expiration of the extension period.

AMENDMENT TO RULE 41(1)- QUARTERLY REPORT

Amendment:
Public companies shall no later than thirty (30) days from the end of each quarter simultaneously file with the Commission, the relevant securities exchanges (where applicable) and post on the companies’ websites, a quarterly report prepared by the International Financial Reporting Standard (IFRS).

https://investdataltd..com/2020/02/welcome-to-bullish-of-february-2020.html

Market Update for the Month ended Month 31 and outlook for February 2020

Hello Investors and Traders,

A lot really happened last week. Especially, in the aspect of the monetary policies by the CBN.

As a result, I took my time to respond to the event because that is the only way to ensure that you make the right decision.

Usually, I would have highlighted what is in the video however, I won't do it again because I want you to go through every aspect of the Market Update for the week ended. I mentioned some vital and crucial points that will help you with the easy decision making in February.

So, click on the above video to watch now.

Less I forget, on February 8, 2020, I will behold the Invest 2020 Summit at Emerald Hotel Limited, 193, Aba Road, Rumuola, PortHarcourt. Time:10am. So, call 08028164085,08032055467

However, if you cannot attend, you can get the INVEST 2020 SUMMIT Home Study pack. Everything has been done there. Call 08028164085,08032055467 to place your order and get started immediately.

Ambrose Omordion


https://www.youtube.com/watch?v=N60TWsEXO7Y

Investdata Daily Sentiment Report as of February 14, 2020

NSEASI buy 78% sell 22% MFI 3.90
Access buy � MFI 22.93
Afrprud buy 0% volume index 3.58 MFI 29.31
Fbnh buy � MFI 26.72
Fcmb buy 0% MFI 52.11
Fidelity buy � MFI 40.47
Fmn buy � volume index 6.30 MFI 77.76
GT buy � MFI 26.13
Honyflour buy 0% MFI 47.59
Sterling buy � volume index 0.82 MFI 30.43
Transcorp buy � MFI 14.06
Uacn buy � MFI 45.71
Uba buy � MFI 24.22
Ucap buy � volume index 5.02 MFI 52.21
Wapic buy � MFI 41.36
Wema buy � volume index 0.78 MFI 31.07
Zenith buy 71% sell 29% MFI 37.01

https://investdataltd..com/2020/02/investdata-daily-sentiment-report-as-of_14.html

NGSE Indicators May Sustain Reversal, Mixed Trading, Profit-Taking, Ahead Of Dividend News

Market Update for February 11
The Nigerian Stock Exchange’s benchmark All-Share Index signaled the resurgence of new strength at the close of Tuesday’s trading as volatility and mixed performance continued, halting two previous sessions’ of bear-run on gradual improvement in demand for companies with impressive Q4 numbers. Investors also focused on high dividend-paying stocks that are currently undervalued due to recent corrections, just as Tuesday’s pullback coincided with major announcements regarding the demutualization of the NSE, including the change of name to Nigerian Exchange Group Plc and other subsidiary companies (READ MORE) and its transformation from a company by guaranty, as well as the share allocation (READ MORE).

Technically, the market resisted further decline as revealed by the candlestick formation at the end of the trading session, even as the index had broken down the 27,702.30 basis points to test 27,637.33bps before the rebound. The confirmation of this reversal is a function of market forces at Wednesday’s trading session, as a capital wave in the financial market is not favouring equity trading, despite the relatively low interest in the money market. Going by the strongly bearish stand, it can easily be assumed that the said support level will be fully challenged by the bears when the expected full-year corporate earnings start hitting the market.

Meanwhile, Tuesday’s trading opened on the downside into the mid-morning before rebounding between midday and the afternoon on bargain hunting in high cap stocks, a situation that pushed the benchmark index to an intraday high of 27,936.16bps, from its low of 27,637.33bps. It thereafter adjusted up to close the session higher at 27,871.90bps on less than average traded volume.
Market technicals were positive and mixed, as volume traded was higher than the previous session’s in the midst of market breadth favouring the bear and positive buying sentiment as revealed by Investdata’s Sentiment Report showing 78% ‘buy’ volume and 22% ‘sell’ position. The total transaction volume index stood at 0.78, while the energy behind the day’s performance was seriously weak, as the Money Flow Index inched up to 10.08 points from the previous day 9.94 point, indicating that funds enter the market and some stocks

Index and Market Caps
At the close of the day’s trading, the composite NSEASI gained 99.71bps, closing at 27,871.90bps from its 27.773.16bps opening, representing 0.36% gain, just as market capitalization climbed N51.93bn up, closing at N14.52tr, from the N14.46tr opening figure, which also represented a 0.36% value gain.
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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The session upturn was impacted by positioning taking in low, medium and high cap stocks like, MTNN, Zenith Bank, FBNH, UACN, Lafarge Africa, Oando, Cadbury, Fidelity Bank andJapual Oil, among others, which impacted positively on the NSE’s Year-To-Date gain, as it increase to 3.84%. Market capitalization, YTD, gain inched up to N1.52 trillion, representing 11.32% growth over the year’s opening value.

Bearish Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Oil/Gas that closed 0.05% higher, while the NSE Consumer Goods led the decliners after losing 1.92%, followed by Insurance and Banking with 0.55% and 0.35% respectively.
Market breadth was negative as decliners outnumbered advancers in the ratio of 17:13, while market activities in volume and value traded inched by 38.92% and 93.21% respectively to 276.27m shares worth N1.92tr, from the previous day’s 200.16m units valued at N1.92bn. Volume was driven by transactions in UBA, Guaranty Trust Bank, Zenith Bank, Japaul Oil, and Ecobank Transnational Incorporated.
The best-performing stocks for the day were UACN and Japual Oil, gaining 9.30% and 8.33%, closing at N9.30 and N0.26 per share, on the strength of earnings expectations and market forces. On the flip side, SKYAVN and Caverton lost 9.89% and 9.89% respectively, closing at N3.37 and N2.65 on selloffs and profit-taking.

Market Outlook
We expect the market to sustain its reversal, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying in the dip ahead of dividend news. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of the unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/ngse-indicators-may-sustain-reversal-mixed-trading-profit-taking-ahead-of-dividend-news/#more

Mixed Trading, Profit-Taking Continue On NGSE, As Cautious Investors Scoop Dividend Stocks

Market Update for February 13
Nigeria’s stock market had a very volatile and mixed session, on Thursday, continuing its oscillating trend with the bulls and bears struggling for dominance as day traders take over the market activities, determining trading pattern as a result of which the benchmark All-Share index rises in the morning and bows to sell pressure by the afternoon. The composite NSEASI, therefore, closed lower, halting the previous two sessions of bull-run on a low traded volume as market players await the release of audited results.
The prevailing low trades and activities on the exchange are a clear reflection of indecision among traders and investors as the market searches for direction after the adjustment of Cash Reserve Requirements of banks triggered outflow from the stock market.
The decline was despite the fact that Nigerian Breweries filed its full-year audited report with the directors offering a final dividend of N1.51 per share

As more OMO bills and bonds mature, it is clear that the bulk will not be eligible for rollover, given the Central Bank of Nigeria policy locking non-bank domestic investors out of the market. Such funds are expected to find their way to other investment outlets including forex and equity markets.
While this could weaken the Naira as more investors shift to the forex market, the high dividend yields and undervalued state of the stock market is also an attraction for equity assets, especially those that are liquid. Despite the marginal rates increase in the Treasury Bills to 3.5%, 4.5%. and 6.5% per annum for the 91, 182 and 364-day tenors respectively. Discerning investors know that the dividend yield of many stocks remains higher in the short to long-term, regardless of the high risk associated with equity investments.

Meanwhile, Thursday’s trading opened slightly on the downside and rebounded between the mid-morning to midday, before oscillating between in the afternoon on bargain hunting and profit-taking among stocks. In the process, the NSE index was dragged to an intraday low of 27,686.34 basis points, from its high of 27,916.64bps, following which the market closed marginally lower at 27,864.84bps on a negative breadth.
Market technicals on Thursday were weak and mixed, with lower volume traded than the previous session while market breadth favoured the bears on improved buying sentiments as revealed by Investdata’s Sentiment Report, showing 78% ‘buy’ volume and 22% ‘sell’ position. The total transaction volume index stood at 0.43, while the energy behind the day’s performance was seriously weak, with the Money Flow Index dropping to 3.90 points from the previous day’s 8.80 points, indicating that funds exited the market and some stocks.
Index and Market Caps

At the close of trading, the NSEASI shed 13.59bps, closing at 27,864.84bps from its 27.878.43bps opening, representing a 0.05% decline, just as
market capitalization lost N7.08 billion, closing at N14.51 trillion, from the N14.52trillion opening figure, which also represented a 0.05% 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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The session’s downturn was impacted by profit-taking in MTNN, Zenith Bank, NEM Insurance, UACN, Law Union and Aiico Insurance among others. This impacted negatively on the NSE’s Year-To-Date gain, which reduced to 3.81%. Market capitalization, YTD, gain stood at N1.55tr, representing 11.99% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for the NSE Insurance indexes that closed lower respectively, while the Oil/Gas index closed flat.
Market breadth was negative as decliners outnumbered advancers in the ratio of 15:13, while market activities were mixed with volume traded declining slightly by 1.10% to 150,72m share from the previous 152.4m units, while value rose by 14.2% to N2.78bn from the midweek position of N2.44bn. Volume was driven by transactions in Zenith Bank, Flourmills, United Capital, UBA and MTNN.
United Capital and Learn Africa were the best-performing stocks, after gaining 10% and 9.73% to close at N2.86 and N1.24 per share on the strength of earnings expectations and market forces. On the flip side, Law Union and Japual Oil lost 9.84% and 8.33% respectively, closing at N1.10 and N0.22 on profit-taking as released earnings are unsustainable.

Market Outlook
We expect the market to sustain its reversal as the index remains between 50% and 61.8% Fibonacci retracement ahead of more audited earnings hitting the market any moment from today, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying increasing position ahead of dividend news. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/mixed-trading-profit-taking-continue-on-ngse-as-cautious-investors-scoop-dividend-stocks/#more

NGSE Index Still On Recovery Mood, As Q4 Filings Reduce Speculations, Guide Position Taking


Market Update for February 12
Midweek’s trading activities on the Nigerian Stock Exchange sustained a seeming uptrend with the composite All-Share index closing marginally up on mixed sentiments and buying interests in dividend stocks, as market players await full-year audited earnings with dividend declaration. It is evident now that the unaudited accounts so far released in line with the directive of the Securities and Exchange Commission have given insights into what investors should expect from the quoted companies.
So far, also, the NSE has suffered from the twin effects of Monetary policy tightening through last month’s upward adjustment of the Cash Reserve Requirements (CRR) by the Central Bank of Nigeria (CBN), just as the directive that companies file their Q4 financials has deflated speculative trading in the new year. The new pattern of reporting triggered selloff, as the Q4 numbers came without corporate actions because they are unaudited, even as most players and investors may not have been carried along in the changes made.

Like we have always maintained in Investdata, there is hope for the market, at a time interest rate in the money market remains relatively low, vis-à-vis inflation rate, even as the new Finance Act is expected to boost the bottom-line of some companies at the end of the day. Nigeria’s macroeconomic indices are expected to look up on the early implementation of the 2020 budget, even as the stock market is expected to be further propelled by the planned demutualization of the NSE, which will give life to huge dead capital in the hands of market players.
Midweek’s trading started slightly on the upside into the mid-morning and oscillated between midday to the afternoon on bargain hunting and profit-taking among stocks which pushed the benchmark index to an intraday high of 27,919.10bps, from its low of 27,866.46bps. It closed marginally high at 27,874.31bps thereafter on a low traded volume.

Market technicals on Wednesday were positive and mixed, with lower volume traded than the previous session in the midst of negative market breadth and mixed sentiments as revealed by Investdata’s Sentiment Report showing 23% ‘buy’ volume and 77% ‘sell’ position. The total transaction volume index stood at 0.43, while the energy behind the day’s performance was seriously weak, with the Money Flow Index dropping to 8.80 points from the previous day’s 10.08 point, indicating that funds exited the market and some stocks despite closing up.

Index and Market Caps
At the close of midweek trading, the NSE All-Share Index gained a marginal 6.53bps, closing at 27,874.31bps from its 27.871.90bps opening, representing 0.02% up, just as market capitalization was up by N3.4bn, closing at N14.52tr, from the N14.52tr opening figure, which also represented a 0.02% value gain.
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 recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The day upturn was impacted by positioning in dividend stocks and others like Access Bank, FBNH, UACN, Lafarge Africa, Ecobank Transnational Incorporated, Dangote Sugar, Fidelity Bank, Africa Prudential, and C&I Leasing, among others. This impacted mildly on the NSE’s Year-To-Date gain, which increased to 3.86%. Market capitalization, YTD, gain inched up to N1.52tr, representing 11.34% growth over the year’s opening value.

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for the NSE Consumer Goods and Insurance indexes that closed 0.31% and 0.23% lower respectively, while the NSE Banking led the advancers after gaining 0.30%, followed by Industrial Goods with 0.08%, while Oil/Gas closed flat.
Market breadth was negative as decliners outnumbered advancers in the ratio of 18:13, while market activities in volume and value traded declined by 44.84% and 34.29% respectively to 152.4m shares worth N2.44bn, from the previous day’s 276.27m units valued at N2.85bn. Volume was driven by transactions in Guaranty Trust Bank, Zenith Bank, UBA, FBHN and Fidelity Bank.
C & I leasing and Africa Prudential were the best-performing stocks, gaining 9.09% and 2.17% to close at N5.40 and N4.70 per share, on the strength of earnings expectations and market forces. On the flip side, SKYAVN and Royal Exchange Assurance lost 9.50% and 8.00% respectively, closing at N3.05 and N0.23 on selloffs and profit-taking.

Market Outlook
We expect the market to sustain its reversal, despite the likely continuation of the mixed intraday movement in the midst of profit-taking, with investors buying increasing position ahead of dividend news. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rate in the money market, high inflation and unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos last December.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives and their impact on the economy in the nearest future.
Meanwhile, the Investdata team welcomes you to a bullish 2020. The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing the 10 Golden Stocks for 2020 are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 no.

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/2020/02/ngse-index-still-on-recovery-mood-as-q4-filings-reduce-speculations-guide-position-taking/

Investdata Weekly Sentiment Report as of February 17, 2020

NSEASI buy 25% sell 75% volume index 0.74 MFI 67.68
Access buy 50% sell 50% MFI 59.18
Afrprud buy 89% sell 11% volume index 2.26 MFI 55.53
Aiico buy 0% MFI 70.26
Cadbury buy 20% sell 80% volume index 2.76 MFI 37.92
Caverton buy 57% sell 43% volume index 2.64 MFI 51.03
Chams buy 0% MFI 49.80
Chiplc buy 67% sell 33% volume index 1.55 MFI 20.90
Cileasing buy 63% sell 37% volume index 5.87 MFI 26.21
Courtville buy � MFI 44.28
Cutix buy � MFI 76.76
Dangsugar buy 8% sell 92% MFI 81.18
Eterna buy 50% sell 50% volume index 4.98 MFI 11.78
Eti buy 33% sell 67% volume index 2.62 MFI 31.56
Fbnh buy 67% sell 33% volume index 0.85 MFI 51.47
Fcmb buy 17% sell 83% MFI 52.35
Fidelity buy 58% sell 42% volume index 0.78 MFI 63.82
Fmn buy � volume index 2.74 MFI 92.40
GT buy 49% sell 51% volume index 0.85 MFI 68.68
Honyflour buy 0% MFI 81.91
Jaiz buy 20% sell 80% MFI 53.84
Japaul buy 0% volume index 5.18 MFI 57.63
Jberger buy 0% volume index 1.68 MFI 95.61
Lasaco buy � volume index 0.78 MFI 51.55
Lawunion buy 70% sell 30% MFI 64.03
Learn buy � volume index 0.85 MFI 38.55
Linkass buy 8% sell 92% volume index 9.72 MFI 38.11
Lvstk buy � volume index 3.24 MFI 80.04
M&B buy � MFI 63.37
Mtnn buy 20% sell 80% volume index 1.11 MFI 38.07
Nahco buy � volume index 0.71 MFI 50.96
Neimeth buy 0% volume index 0.87 MFI 67.85
Nem buy 0% MFI 72.95
Npf buy 0% volume index 1.00 MFI 36.61
Oando buy 0% volume index 1.03 MFI 43.13
Prestige buy � volume index 1.33 MFI 77.88
Pz buy � volume index 1.67 MFI 39.37
Royalex buy 0% MFI 79.29
Sovereins buy 0% volume index 7.53 MFI 75.12
Sterling buy 7% sell 93% MFI 54.32
Transcorp buy 0% volume index 0.73 MFI 55.04
Uacn buy 35% sell 65% volume index 1.49 MFI 85.05
Uba buy 33% sell 67% volume index 1.00 MFI 61.46
Ubn buy � volume index 2.10 MFI 59.68
Ucap buy 86% sell 14% volume index 3.09 MFI 70.95
Upl buy � MFI 33.05
Vitafoam buy 52% sell 48% volume index 1.02 MFI 86.00
Wapco buy 47% sell 53% MFI 75.28
Wapic buy 0% MFI 84.71
Wema buy 0% MFI 63.01
Zenith buy 0% volume index 0.72 MFI 65.01

https://investdataltd..com/2020/02/investdata-weekly-sentiment-report-as.html

Market Update for the Week Ended February 14 and Outlook for Feb 17-21

The bearish sentiments and sell pressure continued on the Nigerian Stock Exchange (NSE) last week as more 2019Q4 unaudited and full-year audited numbers continued to grace the market, even as monetary and fiscal policy inconsistency continued to threaten investor confidence. This has extended the downtrend for the third consecutive week on a declining traded volume, which signals that reversal is underway depending on the full-year corporate actions and dividend news of many companies with December year-end.

The mismatch of funds and policies in the nation’s financial market has continued to drive the volatility witnessed in the stock market so far, as inflow and outflow from equity assets in recent times stay high despite the relatively low-interest rate regime in the money market and declining yields in the fixed income segment. The expected audited earnings and dividend declaration season may fire up the market again if payouts beat market expectations. That means there is potential for big volatility ahead, a situation that can be both a blessing and a curse, depending on the actual numbers.

It is over three months since the apex bank restricted local investors, fund managers, and Pension Fund Administrators from participating in its Open Market Operations, primary and secondary market operation. This has dragged average yield in the market to between 6 and 7% from 10-14%, at a time Dividend Yields of many stocks on the exchange are higher than the prevailing returns in the Treasury instrument and others.
However, the performance of the global stock markets for the period under review was mixed as a resurgence of the Coronavirus weakened investor confidence, negatively impacting the global economy, thereby threatening the outlook for trade-in 2020.

Movement Of NSEASI
During the week, the All-Share Index recorded a mixed performance with two days of up, and three sessions of the down market, closing the first trading session of the week on a negative note, after losing 1.05%. This was reversed on Tuesday and was sustained in the midweek, gaining 0.36% and 0.02% respectively; it then pulled back into the bear region on Thursday and Friday, giving up 0.05% and 0.39%, due to the continued sell down to close the week negative.

The benchmark NSEASI opened at 28,067.09 basis points, touching an intra-week high of 28,119.19bps and low of 27,637.33bps on a continued sell down and profit across sectors, except the Industrial Goods. The index closed the week at 27,755.87bps, representing a 1.11% decline on a lower traded volume. Also, market capitalization fell to N14.46tr, from an opening value of N14.62tr, representing a 1.11% value loss. This was lower than the rate of decline in the previous week of 2.69% loss, despite the price adjustment in Vitafoam shares for its dividend of 42kobo.
The Advancers’ table for the period was dominated by low cap stocks, as sell pressure continued on medium and large companies with accumulation in high Dividend Yield stocks persisted in the midst of unaudited and mixed corporate earnings that impacted the week negatively while investors cautiously awaited the release of more audited accounts and corporate actions. During the week also, directors of Nigerian Breweries presented its full-year audited reports as expected, accompanied by announced of N1.51 dividend per share.

Also, the prevailing negative sentiment was evident in market breadth that was down during the period, with decliners outpacing advancers in the ratio of 35:19. The impetus behind the week’s performance was strong despite sliding down, as revealed by the Money Flow Index reading 67.68bps, compared to the 73.60bps of the previous week.
The low volume of trade indicates the wait and see attitude of traders and investors ahead of the release of the audited 2019 full-year accounts, even as Investdata’s Sentiment Report for the week was negative at 25% ‘buy’ volume, and 75% ‘sell’ position, on a transaction volume index of 0.74.

NSEASI Weekly Time Frame
From the above weekly chart of NSE Index, Fibonacci levels are already forming support and resistance levels, and you combine them with other price areas that a lot of other traders are watching, then the chances of market rebounding from these areas of 50% to 61.8% are much higher. It is clear fund managers are holding cash in expectation of economic data like the January inflation and Q4 2019 GDP reports slated for February 17 and 24 respectively. This will determine which windows they will be looking for, whether the equity or fixed income market as assets repricing persist in the financial market.

The negative sentiment behind the NSE Index action and trading pattern during the week remained dicey, despite the earnings expectations that support a reversal in trend. The index broke down the 27,702.46bps within the period, an indication of weak inflow into the market as institutional investors and fund managers await the audited earnings reports.
The NSE index is sustaining a downward movement on a declining traded volume, signaling a slowdown in the recent recovery as selloffs and profit-taking persisted at the end of the second trading week of the month.
The index on a weekly time frame is trading above its 20-Day Moving Average, The Relative Strength Index reads 48.18, indicating relative strength. However, Money Flow is reading 67.68 points and looking down on the weekly chart which is an indication that funds are leaving the market and individual stocks.

Bearish Sectoral Indices
All the sectoral indexes were down during the week, except for the NSE Industrial Goods that closed slightly up at 0.78%, while the NSE Consumer Goods Index led the decliners, after shedding 6.47%, followed by the NSE Insurance, Oil/Gas and Banking indexes that were down by 2.16% 0.69% and 0.21%, respectively.

Market transactions, in terms, of volume and value for the week were down by 43.04% and 47.03% respectively, as investors exchanged 912.18m shares worth N12.13bn, as against the previous week’s 1.48bn units valued at N20.3bn. This volume was mainly driven by trades in financial services stocks, especially Zenith Bank, Guaranty Trust Bank, and UBA.
Livestock Feeds and United Capital Plc were the best-performing stocks for the week, topping the advancers’ chart after gaining 16.67% and 15.29% respectively, closing at N0.70 and N2.94 per share on low price attraction, and earnings expectation with dividend income. On the flip side, Linkage Assurance and Skyway Aviation lost 25.81% and 23.26% respectively, closing at N0.46 and N2.87 per share on profit-taking and selloffs.

Market Outlook
We expect more audited earnings reports and dividend news to dictate the market direction in the midst of profit-taking and repositioning by market players, as more OMO and bond investments mature, making more funds available for equity investment, despite the fact that funds managers are holding on to cash. This is just as more liquidity finds its way to high Dividend Yield stocks with sound fundamentals, which will also be based on a seemingly positive outlook for the domestic economy, despite the mixed outlook for 2020 from various analysts.
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 and therefore offers high upside potential.

We should, 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.
Again, the current undervalued state of the market offers investors opportunities to position for the short to long-term, which is why investors should target fundamentally sound and dividend-paying stocks for possible capital appreciation in the New Year. This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Opportunities & Trade Ideas Summit.
Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

Meanwhile, we thank all the participants of the PHC Invest 2020 Summit last weekend, as we also welcome you all to a bullish 2020. The home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available with an average return of 13.37% in less than 30 days. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2020/02/audited-earnings-dividend-may-dictate-market-direction-amidst-profit-taking/