₦airaland Forum

Investdata Weekly Sentiment Report as of June 12, 2020

NSEASI buy 42% sell 58% volume index 0.73 MFI 45.07
Abc buy � volume index 1.74 MFI 100.00
Access buy � MFI 49.23
Afrprud buy � MFI 62.51
Aiico buy 69% sell 31% volume index 1.29 MFI 91.44
Berger buy � volume index 1.00 MFI 89.73
Bua buy 38% sell 62% MFI 59.78
Cadbury buy 0% volume index 1.20 MFI 46.21
Caverton buy 0% volume index 6.22 MFI 33.98
Chiplc buy � MFI 17.38
Cileasing buy 0% volume index 1.80 MFI 55.79
Corner buy 20% sell 80% volume index 0.80 MFI 46.46
Cutix buy 0% MFI 50.65
Dangsugar buy 64% sell 36% volume index 1.58 MFI 80.58
Eterna buy 0% MFI 72.11
Eti buy 33% sell 67% MFI 70.53
Fbnh buy 67% sell 33% MFI 54.99
Fcmb buy 33% sell 67% volume index 0.94 MFI 39.16
Fidelity buy 71% sell 29% MFI 67.07
Fidson buy 0% MFI 72.97
Fmn buy 0% MFI 34.19
Glaxo buy 0% volume index 1.67 MFI 69.47
GT buy 9% sell 91% volume index 1.00 MFI 42.46
Honyflour buy 0% volume index 1.35 MFI 39.82
Jaiz buy 0% volume index 1.33 MFI 54.99
Japaul buy 33% sell 67% volume index 3.85 MFI 63.61
Jberger buy 33% sell 67% MFI 78.98
Lasaco buy 0% MFI 63.27
Lawunion buy � MFI 32.40
Learn buy � volume index 0.83 MFI 77.02
Linkass buy � volume index 1.56 MFI 53.02
Lvstk buy � volume index 1.94 MFI 57.49
M&B buy 0% volume index 1.51 MFI 69.89
Mben buy 33% sell 67% volume index 12.61 MFI 90.67
Mobil buy 0% volume index 1.49 MFI 84.90
Nahco buy 44% sell 56% volume index 0.86 MFI 77.63
Neimeth buy � volume index 5.85 MFI 99.03
Nem buy � volume index 1.04 MFI 56.12
Npf buy 67% sell 33% volume index 0.88 MFI 73.05
Oando buy 0% volume index 0.86 MFI 52.24
Okomu buy � volume index 1.19 MFI 51.99
Prestige buy 30% sell 70% volume index 5.01 MFI 66.70
Pz buy � MFI 60.46
Red buy 7% sell 93% volume index 0.70 MFI 58.04
Regalins buy 0% volume index 1.55 MFI 68.14
Stanbic buy 0% volume index 1.51 MFI 31.30
Sterling buy � MFI 25.09
Transcorp buy 60% sell 40% MFI 38.33
Uacp buy 94% sell 6% volume index 8.46 MFI 86.51
Uacn buy 0% MFI 33.78
Uba buy 33% buy 67% MFI 41.29
Ucap buy 33% sell 67% MFI 76.87
Uniondac buy � MFI 76.89
Unity buy � volume index 1.54 MFI 67.34
Upl buy 0% volume index 1.41 MFI 62.85
Vitafoam buy 82% sell 18% volume index 1.73 MFI 69.65
Wapco buy 0% MFI 64.75
Wapic buy 33% sell 67% MFI 21.18
Wema buy � MFI 66.86
Zenith buy 10% sell 90% MFI 33.97

https://investdataltd..com/2020/06/investdata-weekly-sentiment-report-as_12.html

Happy Democracy Day

It is Ambrose Again,

Whatever feelings or resentment you are having regarding the stock market is really understandable.

However, if truly you are an investor (a person that allocates capital with the expectation of a future financial return) which I am very sure you are.

I will recommend that you change your strategy which is to work backward from what works. As Tony Robbins would say, Success leaves clues so if you start from scratch then you are doing it wrong.

The question is how do I change my strategy then change the outcome I am currently getting.

The solution is very simple but difficult to execute however I am sure that you are ready for it. So, the solution is to simply change your personal philosophy first. That is, change the way you think. Only such circumstances can you welcome new strategies and techniques. You won't have the mindset that it won't work.

However, you cannot change your strategy from thin air. So this can only be done through research, study through audios, articles, videos, mastermind inner circles, etc.

Less I forget. Today is democracy day so don't take it for granted because some people had to make sacrifices and worked hard for it. So, may this day fill your life with happiness and peace.

Happy Democracy Day.
Ambrose Omordion

P.S. I have done comprehensive training Videos on earnings and it will be released on Monday, June 15th, 2020. Whatsapp or Call now 08032055467 08028164085 for full details

https://investdataltd..com/2020/06/happy-democracy-day.html

BUA Cement Net N19.8bn 2020Q1 Profit, As Volume Rises By 20%

The management of BUA Cement Plc, on Monday, published the result of its operations for the first quarter ended March 2020, the first following the completion of the merger of BUA Group’s cement assets.

Highlights of the score-card included the 25.% rise in sales revenue in the period from N43.1bn in the corresponding period of 2019, to N54b, helped by the 20% growth in the volume of cement dispatched from 1,107 kt in Q1’2019 to 1,328 kt.

This, the company noted, was underpinned by increased capacity output and growing market acceptance, as well as its continued “in-roads to ‘new markets’ aided by our distribution strategy.”

Operating profit for the period climbed 15.6% up from N18.2bn in Q1’2019 to N21bn; while profit before Tax increased by 15.7% from N17.4bn to N20.1bn.

Similarly, profit after Tax jumped 26.2% up from N15.7bn in Q1’2019 to N19.8bn, translating to Earnings Per Share (EPS) of 58 kobo, as against the previous 46 kobo.

Commenting, Managing Director and Chief Executive the company, Yusuf Binji described the performance as “excellent,” considering that the period coincided with the outbreak of the Coronavirus (COVID-19) pandemic.

The performance, he continued, “was buoyed by an increase in production capacity from 5million metric tonnes at the end of Q1’2019 to 8million metric tonnes currently; its strong product differentiation strategy which translates to an increasing appreciation of BUA Cement product offering and a growing distribution network across existing and new markets.”

The turn of the year, he continued, “witnessed the achievement of yet another milestone, with the completion of listing requirements of the Nigerian Stock Exchange (NSE), emerging the third-most capitalised company on the exchange; with a market capitalisation of N1.2tr ($3.3bn) and the de-listing of the shares of CCNN Plc. Subsequently, BUA Cement was included as a constituent of the MSCI frontier market index in February.

“Undoubtedly, the outbreak of the COVID-19 pandemic will have broader ramifications to the world and indeed the world economy, even as governments institute measures to curtail further spread of the virus. Nationally, Nigeria has not been immune to the wave of the virus; with the government instituting safety measures whilst building capacity, in preparedness for the possible high number of cases.

“In response to the global pandemic, we implemented our “COVID business continuity program”, built into our corporate governance framework. This minimises disruptions along the value chain; prioritises the safety of workers and customers; and assesses probable scenarios a prolonged lockdown would have on the business.

“Clearly, our strong-showing epitomises the effect of further growth in output but most importantly, a growing appreciation of the value and service offering we continue to afford customers in the market place: with sales revenue increasing by 25.1% (y/y) to N54 billion. We continue to anticipate changes to customer and market behaviour, aimed at further strengthening our value model, even as we continue our push into ‘new markets’.

“As the COVID-19 virus makes landfall, we believe the current measures in place, should help minimise plausible downside risks; nevertheless, poised to take advantage of an upturn in market activities”. Binji stressed.

https://investdata.com.ng/bua-cement-net-n19-8bn-2020q1-profit-as-volume-rises-by-20/#more

Amidst COVID-19 Concerns, Nigeria’s New 5-year Strategy Gets AfDB Nod


The African Development Bank, on Friday, announced the approval of Nigeria’s Country Strategy Paper (CSP) 2020-2024 by its Board of Directors.

The approval granted on May 27, 2020, according to a statement by the bank, builds on the successes and challenges of the 2013-2019 strategy, while incorporating emerging developmental realities and opportunities shaping the nation’s politico-economic landscape, including in the post-COVID-19 period.

A statement by Olufemi Terry of the AfDB’s Communication and External Relations Department, quoted Ebrima Faal, Senior Director for the bank in Nigeria, as re-affirming its support for Nigeria’s socio-economic advancement.

According to him, “in the implementation of the CSP, the bank will also support Nigeria to address economic shocks associated with the COVID-19 pandemic and oil price shocks by focusing our interventions in sectors that will strengthen public health infrastructure and accelerate efforts towards economic transformation and diversification of export earnings and fiscal revenues from oil.”

The 2020-2024 CSP identifies supporting infrastructure development and promoting social inclusion through agribusiness and skills development as key priority areas for Nigeria.

These priorities have been selected to leverage Nigeria’s rich endowment of natural and human resources toward transforming the lives of its people, adding that the new CSP has been customized to support government efforts in confronting challenges and to foster long-term, socially inclusive development.

Under the CSP, the AfDB will deploy a combination of sovereign and non-sovereign financing instruments to support the two priority areas, including investment and institutional support projects, evidence based analytical work in numerous economic sectors, policy dialogue and provision of advisory services.

Special focus will be put on supporting the Nigerian private sector, in terms of financing and advisory services, and on Public-Private-Partnership (PPP) initiatives that enable innovative, long-term investment in energy, transport and water and sanitation, the statement assured.

The Strategy Paper is the result of participatory consultations with a range of key stakeholders, both state and non-state actors as well as bilateral and multilateral development partners.

The CSP is fully aligned with the Bank’s Ten-Year Strategy, the High-five priorities and Nigeria’s own Economic Reform and Growth Plan (ERGP), as well as the global Sustainable Development Goals (SDGs).

As of December 2019, the bank put its active portfolio in Nigeria at 61 operations, with a total commitment of about $5bn, of which 29 were in the public sector, with a commitment of $2bn (43%). The other 32 non-sovereign operations have a total commitment of $3bn, equivalent to 57% of the total portfolio.

https://investdata.com.ng/amidst-covid-19-concerns-nigerias-new-5-year-strategy-gets-afdb-nod/

Investdata Price, Earnings Tracking For Friday, June 5, 2020

https://investdata.com.ng/investdata-price-earnings-tracking-for-friday-june-5-2020/

Meeting Notifier (Updated June 5)

• June 15, Dangote Cement (AGM) at Eko Hotel, V/I, Lagos....11am. Prop Div....N16, PD....June 16, CDR....May 26

• June 17, Niger Delta Exploration (AGM) at Company Head Office, 17, Babatunde Jose Road, V/I, Lagos.....11am. Prop Div....N17, PD....June 17, CDR.....N/A
QD...May 29

• June 17, Stanbic IBTC (AGM) at Eko Hotel, V/I, Lagos....11am, Prop Div...200, PD....June 18, CDR... Mar 19-26

• June 18, Julius Berger (AGM) at Shehu Yaardua Center, Abuja...11am. Prop Div...200k, PD....June 19, Bonus...1 for 5, CDR....June 1-3

• June 18, Air Liquide Nigeria (AGM) at Sheraton Hotels, Ikeja, Lagos....12 Noon. Prop Div...Nil, CDR...May 18-20.

• June 18, NEM Insurance (AGM) at Company Head Office, Obanikoro, Lagos.....10am. Prop Div....15k, PD....June 18, CDR....May 4-8

• June 18, Newrest ASL (AGM) at Company Office, 1, Service Street, Murtala Muhammed Intl Airport, Ikeja, Lagos....12pm. Prop Div....Nil (Final), CDR.....June 1-5.
A total sum of 685k was paid as Interim dividends on two occasions (Aug 26 & Dec 30, 2019)

• June 19, CAP (AGM) at Company Head Office, Adeniyi Jones, Ikeja, Lagos....10am. Prop Div...Nil, CDR...June 4-10.

• June 23, GREIF Nig (AGM) at Rockview Hotel, Parkland, Apapa, Lagos....11am. Prop Div... Nil, CDR...Feb 27-28

• June 23, Nigerian Breweries (AGM) at Star Academy, NB's Accommodation Center, Plot 14, Abebe Village Road, Iganmu, Lagos...10am. Prop Div....151k, PD.....June 24, CDR.....Mar 5-11.

• June 23, UBN Property (AGM) at Union Bank Head Office, Marina, Lagos....11am. Prop Div.... 5k, PD....June 24, CDR....June 15-19

• June 24, Airtel Africa (AGM) at 53/54, Grosvenor Street, London, W1K, 3HU....11am. Prop Div (Final)....3 Cents, PD....N/A, CDR....N/A.

• June 24, Cadbury (AGM) at Company Head Office in Agidingbi, Ikeja, Lagos....10am. Prop Div....49k, PD...June 25, CDR....May 25-29

• June 24, Berger Paints (AGM) at Company Head Office, Oba Akran Avenue, Ikeja, Lagos.... 10am. Prop Div....25k, PD....June 25, CDR.... June 15-19

• June 25, CWG (AGM) at Company Head Office, Plot 54b Off Rufus Giwa Street, Lekki Phase 1, Lagos....10am. Prop Div...Nil, CDR....June 1-4

• June 25, BOC Gases (AGM) at Airport Hotel, Ikeja, Lagos....11am. Prop Div....30k, PD....June 26, CDR....June 8-10

• June 25, Meyer (AGM) at Company Head Office, 34, Mobolaji Johnson Avenue, Oregun Industrial Estate, Alausa, Ikeja, Lagos....11am. Prop Div....Nil, CDR....June 9-16

• June 25, Caverton Offshore (AGM) at Caverton Helipad, Ozumba Mbadiwe, V/I, Lagos...10am. Prop Div....20k, PD....June 25, CDR....June 16

• June 25, NASD (AGM) at UBA House, 9th Floor, Marina, Lagos....11am. Prop Div...Nil, CDR....June 11-17

• June 25, Friesland Wamco (AGM) at Company Head Office, 7b Acme Road, Ogba Industrial Avenue, Ikeja, Lagos.....11am. Prop Div....681k, PD....N/A, CDR.....May 22-28.

• June 30, NPF Microfinance Bank (AGM) at CIBN Head Office, Adeola Hopewell, V/I, Lagos....11am. Prop Div....20k, PD....June 30, CDR....June 17-22

• June 30, Nestle (AGM) at Company Head Office, Industrial Avenue, Ilupeju, Lagos...11am. Prop Div....N45, PD....N/A, CDR....May 18-22

• June 30, SAHCOL (AGM) at SAHCO Complex, Cargo Terminal, Murtala Muhammed Intl Airport, Ikeja, Lagos....11am. Prop Div...16.5k, PD....June 30, CDR....June 17-23.

• June 30, Prestige Assurance (AGM) at Muson Center, Onikan, Lagos....12 Noon. Prop Div....Nil, Prop Bon...2 for 11, QD....June 19, CDR....June 22-26

• July 2, Beta Glass (AGM) at Federal Palace Hotel, Lagos....12 Noon. Prop Div....167k, PD...July 3, CDR....June 15-19

• July 2, Portland Paints (AGM) at 1-5, Odunlami Street, Lagos Island, Lagos.....10am. Prop Div....Nil, CDR....June 15-19

• July 15, UACN (AGM) at 1-5, Odunlami Street, Lagos....10am. Prop Div....10k, PD....July 16, CDR....May 19-22

• July 16, TransnationWide Express (AGM) at Airport Hotel, Ikeja, Lagos (Assumed Venue)....11am. Prop Div....3k, PD....July 20, CDR....July 6-10

• July 16, NAHCO (AGM) in Lagos ()....11am. Prop Div...30k, PD...July 16, CDR....July 1-3

• July 23, GSK Nig (AGM) at GSK He

https://investdataltd..com/2020/06/meeting-notifier-updated-june-5.html

Hello Investors,

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

Profit-taking, Portfolio Rebalancing Still On NGSE, Amidst Weakening Data

Market Update for the Week Ended June 5 and Outlook for June 8-12

Trading on the Nigerian Stock Exchange (NSE) in the first week of June was mixed, slowing down two weeks of bull rampage on-trend consolidation after profit-taking hit the market on Thursday and Friday with traders cashing out gains recorded in blue-chip stocks during the most recent rally.

The pullback is expected, after the strong recovery moves of the past two months that pushed prices and indexes into an overbought region on the back of positive sentiments, as well as high yields as corporate earnings and actions continue to attract inflow into equity assets.

This had been supported by a strong recovery in crude oil prices at the international market hitting a three-month high at $41 per barrel on impressive reports of recovery in China’s economy and improvement in the U.S job data released within the period under review.

In normal times, the devaluation of money would have been a recipe for lower standard of living in any country. But at a time in the world when everyone is in the same boat, and governments are following the same script across the world, this may just be a global reset of economies, prices and wages that will affect business environments positively or negatively going forward.

The global economy is likely to recover faster than expected judging by how oil price continues to rebound, complimented by the way governments and central banks are stimulating their economies, with a cocktail of packages and interventions to mitigate the effects of the Coronavirus spread.

The seeming correction after a sharp divergence between the market’s rally and economic fundamentals/realities are likely to trap some market players that jumped into positions at the beginning of the month. This is because technical tools have earlier signaled a reversal that calls for caution as we had earlier advised, knowing that fundamentals at this time are terribly weak, shaky and unable to propel any pullback strong enough to create new buy opportunities. It is also no enough to support a stronger recovery wave after the profit-taking and assets revaluation that will follow the expectedly weak Q2 corporate and economic data now being factored into asset prices.

Movement Of NSEASI

In the five trading sessions of the week, the composite index recorded three up markets and two down sessions to short-live the two-week bull-run, after opening Monday’s trading on a positive note, gaining 0.21% on a buying interest. This was sustained on Tuesday and Wednesday, when the NSE index improved, closing 0.27% and 0.10% higher respectively, before pulling back on Thursday and Friday by 0.38% and 1.17% respectively on profit-taking and assets revaluation. These brought the week’s loss to 1.00%, as against the previous of 0.25% gain, which put the recovery on hold, amidst the low traded volume and mixed sentiment.

The NSE’s All Share index shed 251.52 basis points at the week’s close, after opening at 25,267.92bps, touching an intra-week high of 25,458.53bps from its low of 24,875.56bps on a high selling pressure and profit taking. This signaled the onset of the distribution stage of the market cycle and calls for caution, because decline phase is underway in the form of price correction. This is made worse by oncoming dividend qualification dates and markdown of many low and medium scale stocks. At the end of Friday’s trading, the market closed lower at 25,016.30ps, compared to previous week’s close, remaining above the 25,000bps level.

In the same vein, market capitalization lost N120bn, closing at N13.05tr from the previous weekend’s N13.17tr, representing a 0.90% value loss in investors’ portfolios. The difference between both indicators reflected the listing of additional 15.96bn shares of UACN Property Development Company, following its recent rights issue, and the price adjustment in the shares of Julius Berger for the dividends of N2 per share and one-five bonus shares; as well as the N6.71 dividend by Total Nigeria.

During the period, 10 companies published their corporate earnings, comprising five 2019 audited results from Charms, Pharma Deko, Skyway Aviation, Japual Oil, Abbey Mortgage Bank and Prestige Assurance, whose directors recommended a bonus share of new two ordinary shares for 11 held. Others were quarterly reports from 11 PLC, Prestige Assurance, Fidson Healthcare and Trans-nationwide express.

Low cap stocks that recently released their corporate earnings and declared dividends dominated the advancers’ table for the week with their qualification dates drawing closer. This reflected on their share prices, despite the negative market breadth, as decliners outweighed advancers in the ratio of 39:26. Just as the momentum behind the week’s performance remained weak, despite the Money Flow Index read 39.81bps, up from 32.98bps in the previous week.

Technically, the NSE’s index action signaled weakness, despite the bullish MACD as it has crossed over the signal line and the index trading flat on the 21-day moving average, within the bearish channel and testing the upper Bollinger band line on 75% sell volume, while the money flow index closed brighter. On a weekly time frame, it is looking down, reading 39.81, breaking out from the short bearish channel. The RSI has turned south, reading 48.90, just as momentum behind the market recovery has paused, while smart money sells for profit to reposition their portfolios ahead of the second-half of the year in the face of the ongoing global economic reset and the impending recession.

The trending strength behind the NSE’s index has weakened as the ADX weekly time frame reads 24.97 points, on mixed sentiments as revealed by Investdata’s Sentiment Report for the week, showing 75% ‘sell’ volume and buy position of 25% with the transaction volume index at 0.94

Bearish Sectoral Indices

All the sectorial performance indexes were down, with the exception of the NSE Consumer Goods index that closed 0.25% marginally high, while the NSE Industrial Goods index led the decliners after losing 3.14%, followed by the NSE Banking, Oil/Gas and Insurance which lost 1.81%, 1.35% and 0.67% respectively.

Market transactions in terms of volume and value were up by 16.67% and 74.44% respectively, as investors exchanged 1.47bn shares worth N23.55bn from the previous week’s 1.26bn units valued at N13.50 bn. The week’s volume was boosted by trades in financial services stocks, especially FBNH Holdings, Guaranty Trust Bank and Zenith Bank.

The best-performing stocks for the week were Neimeth Pharmaceuticals and Skyway Aviation which gained 56.64% and 50.83% respectively, closing at N1.77 and N2.73 per share on positive market sentiment and dividend of 0.165 kobo. On the flip side, Afromedia and Julius Berger lost 23.08% and 22.73% respectively, closing at N0.20 per share and N21.25 per share on market forces and price adjustment for cash and bonus dividend.

Market Outlook

The market since the last few trading days of May and the early sessions of June formed a bullish wedge of consolidation that led to midweek’s pause to signal resistance that ushered in the distribution stage after an uptrend or markup that the market has witnessed in recent times. The sector’s rotational wave will help investors to cash in on low cap stocks and sectors that had suffered huge losses before now. Already investors are looking the way of healthcare, Airline services providers, among sectors likely to be impacted positively in the much anticipated global and domestic economic reset.

Also, the possibility of continued funds inflow to the low priced stocks are high, due to higher yields and upside potentials, consider the low rates in money market and bond market. In the meantime, investors have continued to digest the score-cards and economic data released recently, as the market awaits May inflation reports from the National Bureau of Statistics to further help in repositioning their portfolios.

Investors also should look out for developments around the implementation of the Central Bank of Nigeria’s funding plan for small and medium scale businesses.

Already, we notice that investors are taking position in healthcare and other defensive stocks likely to survive this meltdown, following which there is increased transactions in them, even as global markets continue on the recovery path already, as lockdowns are gradually being relaxed.

Also, do not forget to identify and play defensive stocks among the many fundamentally sound companies, as their share prices remained depressed, making them attractive for bargain hunting by market players. This has also resulted in significant improvements in Dividend Yields of stocks, even as we note the fact that fund managers who held cash before now, may have to rethink the strategy and go for value stocks with high upside potentials.

While discerning investors should take advantage of the current low stocks valuation to position for the medium to long-term, it is noteworthy that the Nigerian equity market is selling at a discount and therefore offers high upside potential.

Expect a likely bargain-hunting motive, supported by the positive performance, especially with many fundamentally sound stocks remaining underpriced, and the 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.

To position for the short to long-term, investors should target fundamentally sound, dividend-paying stocks, for possible capital appreciation in the coming months. 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.

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/ngse-index-slips-amidst-profit-taking-assets-repricing-on-expected-weak-data/

NGSE Index Slips 0.38% Amidst Profit-taking, As Market Searches For Direction


Market Update for June 4

The composite index of the Nigerian Stock Exchange on Thursday took another breather from the two-month rally, as sectoral indexes recorded a mixed performance, after high cap stock closed lower on a low traded volume, amidst negative sentiments.

The low supply at this ranging market may indicate a markup by smart money, or pullback, but there is need to await confirmation of this at Friday’s trading session.


The recovery has been strong in the last 38 trading sessions, consolidating its movement in the last five trading days, while forming a consolidation pattern of higher highs to pause the rally, after breaking out the 20-Day Moving Average on April 14. This was followed by the 50-DMA on May 5, heading to crossover the long moving average of 200 day before slowing down on market players indecision.

A rise above the 200-DMA would have made a bullish reinforcement of the uptrend’s momentum, just as a pause below or pullback from the above yellow line would suggest resistance, as major institutional investors collectively read the current value of the industrials as appropriate to the outlook for the national and global economies.

Meanwhile, Thursday’s trading opened slightly on the downside and was sustained throughout the session, despite oscillating between the mid-morning and afternoon on profit taking among the high cap stocks. This pushed the NSE All-Share index to an intraday low of 25,312.05 basis points, from a high of 25,434.62bps, before closing the day lower at 25,312.05pps.

Market technicals during the session were negative and weak as volume traded fell below previous session’s in the midst of negative breadth and strong selling pressure as revealed by Investdata’s Daily Sentiment Report, showing a ‘sell position of 100%. Total daily transaction volume index stood at 0.92, just as the impetus behind the day’s performance stayed strong, with Money Flow Index reading 94.04 points, down from the previous 96.62ps, indicating a gradual exit of funds as traders cash out profit from the rally.

Index and Market Caps

The All Share index lost 95.91bps, closing at 25,312.05ps, from the 25,407.96bps it opened, representing a 0.38% drop, while market capitalisation lost by N58.13bn to N13.2tr, as against the opening value of N13.25tr, representing a 0.38% value loss.

If you are yet to sign up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and six categories of stocks to see you through in this changing market dynamics and economic uncertainty. These stocks are with double potentials to rally and protect your funds considering their current market prices. 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 this current market oscillation and earnings reporting season for portfolio realignment and positioning as we await an economic reform policy to stimulate and re-track the economy again.

Thursday’s downturn was impacted by profit taking and market forces recorded by MTNN, Guaranty Trust Bank, Custodian Investment, GSK, May Baker and AIICO, and among others. This impacted mildly on the NSE’s benchmark index, increasing the NSE’s Year-To-Date loss to 5.70%, while market capitalization YTD gains dropped to N243.12bn, representing a 1.93% up from the year’s opening level.

Mixed Sector Indices

The sectoral performance indices were largely bearish except for the NSE Consumer and Industrial Goods that closed higher by 0.89% and 0.27% respectively, while NSE Banking led the decliners shedding 2.12%, followed by NSE Oil/Gas and Insurance which fell by 0.39% and 0.23% respectively.

Market breadth was negative with decliners outpacing advancers in the ratio of 17:14, just as transaction in volume and value terms were down by 23.5% and 24.7% respectively, as investors exchanged 270.2m shares worth N5.3bn from the previous day’s 353.26m units valued at N7.04bn. Volume was driven by trades in FBNH, Zenith Bank, FCMB, Guaranty Trust Bank and Dangote Cement.

UACN Property and Sky Aviation were the best performing stocks of the day after gaining 10% and 9.69% respectively, closing at N0.88 and N2.49 per share respectively on market forces and dividend payout of N0.165 per share. On the flip side, Cutix and Lasaco Assurance lost 9.63% and 7.41% respectively, closing at N1.69 and N0.25per share respectively on prifit taking market forces.

Market Outlook

We expect profit taking to continue, as breakout or breakdown at this consolidation level will confirm next market direction despite profit-taking, as investors positioning reveals confidence among market players, implying that opportunities are still available before the Q2-driven earnings expectation. Also, sectors that have suffered oversold, so far, offer attractive risk-reward buy-opportunities and outlook for consideration ahead of the Q2 economic and corporate data.

While investors digest the impact of the MPR cut from 13.5%, corporate earnings and economic activities, the MFI is showing improved institutional investors activity in the midst of the oscillating oil prices, amidst the rising new cases of the coronavirus with the number of infected people crossing 10,000 and deaths above 280.

However, the market’s high dividend yield continues to attract buying interests, while more audited and unaudited corporate earnings will hit the market, going forward, despite the likely continuation of selloffs. Investors are buying to increase their positions in undervalued stocks ahead of dividend declaration and Q1 numbers. This is also against the backdrop of the fact that the capital wave in the financial markets 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 amidst the changing sentiments in the hope of improved liquidity and positive economic indices that may reverse the current trend. We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potentials to grow their dividend on the strength of their earnings capacity.

Again, the current undervalued state of the market offers 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 going forward.

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.

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.

Ambrose Omordion

CRO|Investdata Consulting Ltd

https://investdata.com.ng/ngse-index-slips-0-38-amidst-profit-taking-as-market-searches-for-direction/#more

Investdata Weekly Sentiment Report as of June 8, 2020

NSEASI buy 25% sell 75% volume index 0.95 MFI 38.31
Access buy 21% sell 79% MFI 46.62
Afrprud buy 83% sell 17% MFI 37.97
Aiico buy 41% sell 59% volume index 3.35 MFI 85.22
Bua buy 38% sell 62% MFI 46.89
Cadbury buy 0% volume index 4.09 MFI 48.50
Caverton buy 0% volume index 1.13 MFI 48.36
Chams buy 50% sell 50% volume index 2.51 MFI 37.82
Chiplc buy � MFI 12.31
Cileasing buy 90% sell 10% volume index 2.09 MFI 62.17
Corner buy 0% volume index 1.59 MFI 48.80
Courtville buy � volume index 2.21 MFI 58.88
Custodian buy 44% sell 56% MFI 41.42
Cutix buy 0% MFI 58.99
Dangcem buy 0% volume index 3.84 MFI 55.28
Dangsugar buy 98% sell 2% volume index 2.57 MFI 69.33
Eti buy 82% sell 18% MFI 72.24
Fbnh buy 33% sell 67% volume index 1.13 MFI 59.24
Fcmb buy 0% MFI 40.71
Fidelity buy 18% sell 82% volume index 0.75 MFI 59.81
Fidson buy 0% MFI 71.96
Fmn buy 85% sell 15% MFI 28.04
Glaxo buy 8% sell 92% volume index 1.27 MFI 79.86
GT buy 0% volume index 0.87 MFI 40.35
Honyflour buy � volume index 1.01 MFI 42.84
Jaiz buy 40% sell 60% volume index 1.35 MFI 54.99
Japaul buy � volume index 6.77 MFI 91.18
Lasaco buy � volume index 1.78 MFI 63.87
Learn buy � volume index 0.74 MFI 63.33
Linkass buy � MFI 32.61
M&B buy 31% sell 69% volume index 3.55 MFI 75.05
Mtnn buy 0% volume index 1.17 MFI 55.22
Nahco buy 61% sell 39% volume index 3.98 MFI 67.93
Nascon buy � MFI 43.97
Neimeth buy � volume index 3.71 MFI 95.77
Nem buy 50% sell 50% volume index 0.71 MFI 56.77
Npf buy 71% sell 29% volume index 1.88 MFI 72.94
Oando buy 0% MFI 42.16
Presco buy � MFI 68.02
Prestige buy � volume index 2.72 MFI 43.15
Pz buy 0% volume index 1.39 MFI 59.27
Red buy 0% volume index 0.72 MFI 35.38
Regalins buy � volume index 4.35 MFI 65.75
Stanbic buy � volume index 1.51 MFI 21.80
Sterling buy 0% MFI 28.42
Total buy 0% volume index 1.48 MFI 50.58
Transcorp buy � MFI 34.24
Uacp buy � volume index 0.81 MFI 80.11
Uacn buy 4% sell 96% MFI 43.42
Uba buy 33% sell 67% MFI 39.55
Ucap buy 55% sell 45% MFI 54.06
Uniondac buy 0% MFI 76.25
Unity buy � MFI 54.02
Vitafoam buy 39% sell 61% volume index 2.64 MFI 65.30
Wapco buy 50% sell 50% volume index 0.77 MFI 62.21
Wapic buy 0% volume index 0.90 MFI 20.32
Wema buy 0% MFI 70.75
Zenith buy 20% sell 80% MFI 41.29

https://investdataltd..com/2020/06/investdata-weekly-sentiment-report-as.html

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THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details

1kg, 3kg
Our Industrial Cotton Threads was passed the tests by SGS under the requests from FDA requirements.

Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.

Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
https://www.facebook.com/OvaraKonstantlimited/

THREADS

Product Details
PACKAGE:
1kg, 3kg
Our thread was passed the tests by SGS under the requests from FDA requirements.
Our threads are Durable and quite suitable for high-speed bag packing systems such as NEWLONG, UNION-SPECIAL, etc.


Akan Udofia
Ovara Konstant Business Ltd
Tel: 08057933767, 08134781303
Lagos Address: 33 Adele Road, Apapa, Lagos.
Email: akan.u@ovarakonstant.com
Website: http://www.ovarakonstant.com/

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https://www.youtube.com/watch?v=kyb3Q9HON40

Ovara Konstant Fumigation Services for Pest Control and Disinfectant for a Clean and Healthy Environment.

We are the first indigenous leading organization in Nigeria involved in the sale of Flour Milling Machines, spares, and offering excellent fumigation in Nigeria and other African Countries Milling and Allied industries industry.

Our fumigation services have been acclaimed as the best considering our modern equipment, promoting insects and antinodes free environmental machines and all the Process.

LAGOS ADDRESS: 33 Adele Road, Apapa, Lagos.
TEL: 08057933767, 07038524258, 08023129971
akan.u@ovarakonstant.com


https://www.youtube.com/watch?v=kyb3Q9HON40

Ovara Konstant Fumigation Services for Pest Control and Disinfectant for a Clean and Healthy Environment.

We are the first indigenous leading organization in Nigeria involved in the sale of Flour Milling Machines, spares, and offering excellent fumigation in Nigeria and other African Countries Milling and Allied industries industry.

Our fumigation services have been acclaimed as the best considering our modern equipment, promoting insects and antinodes free environmental machines and all the Process.

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TEL: 08057933767, 07038524258, 08023129971
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https://www.youtube.com/watch?v=kyb3Q9HON40