₦airaland Forum

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

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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.

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


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

The Clock is Ticking. Happy New Month.

Ambrose Here Again,

In the quest to fulfill one's purpose in life, there are sets of step by step goals and objectives that one needs to put in place.

Some of them can be daily, weekly, monthly, quarterly, or annually. So, it depends on how they are been categorize.

Hence, let me ask you this question. Where currently are you in your 2020 goal settings, can you sincerely pat yourself for a job well done? That is, you should have minimally achieved 32% by now even when there is Covid-19.

Less I forget, this New Month of happiness has arrived, get ready to gather all the treasure of blessings. help others by giving them smiles and happiness. Also, this month will bring a lot of change in your life precisely. This change will be as good as you are. Enjoy your new month with family, friends, and loved ones.

Happy New Month
Ambrose Omordion
08028164085,08032055467
https://investdataltd..com/2020/06/the-clock-is-ticking.html

Investors’ Worth On NGSE Soars By N1.17tr, As All-Share Index Recovers 9.76% In May


Market Roundup for May

Trading on the Nigerian Stock Exchange (NSE) again defiled the popular saying “sell in May and return in October,” for the fourth time in five years as the benchmark All-Share index closed higher, extending the previous month’s uptrend on a positive sentiment and inflow as a result of the high dividend yields, despite mixed corporate earnings.

Also not to be taken for granted is the recovery of oil price which supported the optimism during the month. The rally recorded over the period irrespective of high volatility in the last few trading sessions was just as predicted in our updates in the course of this pandemic-induced economic meltdown.

Over the course of the month an interesting pattern emerged as stocks that had been up trending since the rebound in April began to stall on the back of profit taking and selloffs which slowed down the bull-run on the daily chart. This resulted from portfolio realignments and rebalancing along sectors with potentials to sustain positive earnings due to the business models despite the ongoing global and domestic economic reset and downturn.

The sectoral rotation and positive sentiments may likely support the market in the new month and help reduce volatility resulting from revaluation of equity assets ahead of the 2020Q2 corporate earnings as the high Price-to-Earnings Ratio are already indicating the short-term overpriced state in the recovery trend.

Thursday’s cut in the benchmark Central Bank of Nigeria (CBN) Monetary Policy Rate by 100 basis points to 12.5% is expected to boost economic activities and make funds cheaper for private sector and businesses to survive the current economic downturn. It is a measure expected to quicken economic recovery in the face of the subsisting weak macroeconomic indices occasioned by the novel coronavirus pandemic. This is already evident in the recently publish economic data such as the 2020Q1 GDP, which slowed down to 1.87% from 2.24% in 2019Q4, the 12.34% rise in April inflation, and the low industrial productivity.

This reduction in monetary policy rate will, therefore, support the equity market with money market yields and rates crashing further, remaining unattractive and in the process, threatening the profitability of banks, even as provisions for loans loss are on the rise. But, luckily, the CBN noted the drop in the ratio of Non-Performing Loans in the industry to 6.58% at end-April 2020, compared with 10.95% in the corresponding period of 2019.

This, the Monetary Policy Committee noted in the communiqué at the end of its meeting on Thursday, was “due largely to recoveries, write offs and disposals.”

The committee therefore adjudged the development “as a sign of reasonable stability in the banking system and urged the Bank to maintain its toolkit of prudential and regulatory measures to ensure that NPLs stay below the prudential benchmark of 5.0%.”

The outbreak of the deadly disease continues to reshaping the e-commerce landscape, during this global lockdown and it is obvious that things will not return to how they were pre-pandemic. The lockdown have turned technology, telecom companies, agro businesses, healthcare firms, among others into investors’ toast.

This suggests that investors should keep their gaze on the market and get Investdata videos for strategies to invest and trade profitably in this changing market environment and the impending recession.

The bull run was obvious in the 18 trading sessions of the month of which the market was up for 13 trading sessions and down in just five to continue two months of recovery, reducing the market’s year-to-date loss position to 5.86%. The NSE All-Share index gained a total of 9.76% during the month of May, due to factors such as the low price attraction of dividend-paying companies that paid dividend for 2019, the buying interest of smart money, despite disconnection between the market rally and economic realities as revealed by the weak economic fundamentals and data.

Meanwhile, the composite NSEASI for the month of May gained a total of 2,246.81 basis points, closing at 25,267.82bps, after opening at 23,021.01bps on a strong accumulation move for dividend and capital gain that impacted on stock prices to extend recovery from their new 52-week low within the period under review.

The buying volume of total transactions for the month was 92%, while selling position was 8%, continuing April’s up market with volume index during the period of 0.79. Market capitalisation gained N1.17tr, closing higher at N13.17tr, compared to the opening value of N12tr, representing 9.76% appreciation in value, with the market having a bullish sentiment on dividend qualification and declaration.

All the sectoral performance indices closed green as shown in the chart below with the NSE Industrial Goods driving the market the most in the period under review. It gained 18.97%, more significant than that of the benchmark NSEASI; followed by the NSE Pension which gained 16.10%, reflecting the power of dividend-paying stocks. This was followed by the NSE Consumer Goods Index, which climbed 14.51% up, revealing investors’ interest in undervalued stocks with strong upside potentials, amidst their low Price-To-Earnings attraction in the sector. Other sectors that closed up during the month were: NSE Main Board, NSE Banking, NSE 30 Index, NSE Oil/Gas, NSE Insurance and NSE Asem.

The month’s traded volume however slipped by 0.53% to 5.65bn shares from 5.68bn units in the month of April. Market breadth for the month was strong and positive with far more advancers than decliners, by a ratio of 64:9 as the market continued the bull-run.


Best Performing Stocks For May

Neimeth Pharmaceuticals topped the gainers’ table ahead of 22 other stocks, after recording 88.33% capital gain during the month, on the strength of its improving numbers and expected impact of the CBN’s intervention funds for the healthcare sector to help boost market share and bottom line. It was followed by Consumer Goods stock- Unilever Nigeria, which appreciated by 61.90%; while Cutix an industrial Goods stock chalked 55.83%; and GlaxoSmithKline Consumer, another healthcare company that closed 51.40% higher. Other low and medium cap stocks were: NPF Microfinance, 44.80% gain; Nigerian Breweries, 39.45%; and Fidson Healthcare, 38.78%; among others.


Worst Performing Stocks for May

The worst-performing stocks’ table was led by NEM Insurance which lost 9.09%, linked to profit-taking and price adjustment for a dividend of 0.15 kobo per share within the period; ahead of Courteville Business Solution’s 9.09%; Lasaco’s price fell by 3.85% on the back of the mixed sentiment, as investors await its recapitalistion plan. The share price of Saplat Petroleum Development Company dropped by 3.64%; Academy Press, 3.22%; just as Trans-nationwide’s share price fell by 3.20%, on the back of market forces and profit-taking.


NSEASI MONTHLY TIME FRAME
The NSE’s Index action rebounded in the last two months after the March lows on positive sentiments for the 2019 financials that supported this uptrend as 2017 April support level turned a new resistance as market recovery move continues. A breakout of this new resistance level will complete full recovery from the coronavirus-induced March low.

Where To Invest And Expectations For June, July

The outlook for the global economic and market remains unstable as the outbreak of the coronavirus pandemic wreaked the world economy and deepened debt-to-GDP ratio of many nations. There are also factors such as political uncertainties and low crude oil prices, despite the recovery which is being threatened by the ongoing cold war between US and China.

With the gradual easing of the global lockdown people are returning to the streets and factories reopening to give direction as tech industry operators take advantage of the scenario to lunch new products and services.

Back home, and with the intervention funds and stimulus packages of government and the CBN aimed at quickening economic recovery in the months and quarters ahead, we expect oil price rebound to be sustained. There is also need for effective use of borrowed funds as the government, amidst international and local donations at this period to mitigate the impact and complement the CBN’s effort to boost productivity, create employment and trigger recovery. Reasons for this are not far-fetched, given the impact of the lockdown and insecurity in the coming months, especially now that the cut in MPR will make more funds available to private sector at a cheaper cost to drive their businesses and boost economic activities that supports earnings power of the people.

In June, we expect inflation rate for May will be released by the NBS and may like rise further despite being the harvesting season due the high cost of transporting goods and services, just like the Purchasing Managers Index (PMI) could remain low with the economy still struggling to find direction after lockdown.

The March year-end accounts are expected to strengthen market fundamentals if the numbers beat expectations, but with the unfolding events and economic realities, most of the expected full-year results will be mixed as Q2 earnings reports will further confirm state of listed companies and business environments. The likely correction in the market, despite the recent rally in many stocks, will create an entering point on the strength of the intrinsic value and sector rotation.

Traders and investors who understand the importance of combining fundaments and technical analysis in making equity investment decisions should take this opportunity of a pullback to position in some sectors for short, medium and long term gains. This is especially in the banking sector after price correction, healthcare, Telecoms agribusiness, and services sector, undervalued consumer goods after a carefully study of the recent price patterns and fundamental data available to the market. To save yourself the time, get Investdata video and materials on how to realign your portfolios at this season.

What to expect in June and July

Release of March full-year earnings as June is the end of the statutory 90 days for some audited results and their Q1 on the extension of release date. These numbers from blue-chip companies may strengthen market fundamentals, if positive.
The oscillating trend of equity prices as a result of repositioning of portfolio along the line of positive numbers and sectorial potentials.
Market outlook for June remains mixed and dicey as the month has closed up in three of the last five years and down twice. But with the positive sentiment and strong momentum as the market expects the economic recovery to start, helped by the CBN’s sustained intervention in the FX market. There is also the factor of banks implementing the MPR cuts, helping to boost liquidity and confidence in the economy and market which is expected to impact business activities in the second half of the year.
Relative low price after the Q2 numbers, may trigger more demand for stocks, but invest wisely, using chart patterns, earnings released date and sentiment reports, when taking decisions as a trader.
Managing risk and protecting capital at this point is very important, so you can determine when to buy or sell, by watching the stocks and the market, using technical analysis.
Let numbers released by companies guide your decision and time to stay in that position.
Being the last month of the second quarter of the year, activities are likely to pick up as investors reposition for Q2 earnings season and second half of the year.
Ahead of second quarter earnings season get the videos and PDF presentation of how to trade and invest with earnings season, where short trading strategies and how to identify quality companies to invest before the market look toward it have be discussed.
With the market’s phase changing, it is time to combine fundamentals and technical tools to make decisions by knowing the support and resistance levels to reposition or exit any position. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack and videos of the INVEST 2020 Trade ideas and opportunities Summit and ride with the current state of Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge.

Comprehensive training materials on stock Trading and Investing for Financial Independence, profitable trading, and others are available, you can play and watch on your mobile phone, laptop, desktop, and TV set. Kindly call or send yes to 08032055467, 08028164086, or 08111811223.

https://investdata.com.ng/investors-worth-on-ngse-soars-by-n1-17tr-as-all-share-index-recover-9-76-in-may/#more

Corporate Actions As Of Friday, May 29, 2020

https://investdata.com.ng/corporate-actions-as-of-friday-may-29-2020/#more

Investdata Monthly Sentiment Report as of June 1, 2020

NSEASI buy 92% sell 8% volume index 0.79 MFI 36.51
Access buy 65% sell 35% volume index 0.92 MFI 62.59
Afrprud buy 58% sell 42% volume index 0.95 MFI 54.09
Aiico buy 92% sell 8% volume index 1.10 MFI 83.35
Berger buy � MFI 13.51
Cadbury buy � volume index 1.45 MFI 51.87
Cap buy 0% volume index 1.63 MFI 9.69
Caverton buy 47% sell 53% volume index 1.64 MFI 65.70
Chams buy � MFI 70.14
Chiplc buy � MFI 33.02
Cileasing buy 88% sell 12% MFI 8.80
Conoil buy � volume index 1.20 MFI 36.14
Corner buy 20% sell 80% MFI 79.47
Custodian buy � MFI 61.76
Cutix buy 99% sell 1% volume index 0.77 MFI 32.88
Dangcem buy 45% sell 55% volume index 1.19 MFI 50.88
Dangsugar buy 8% sell 92% MFI 53.95
Eterna buy � MFI 10.41
Eti buy 44% sell 56% volume index 1.73 MFI 20.64
Fbnh buy 62% sell 38% volume index 1.84 MFI 36.48
Fcmb buy 49% sell 51% MFI 34.70
Fidelity buy 61% sell 39% MFI 49.53
Fidson buy � volume index 3.64 MFI 50.61
Fmn buy � MFI 48.96
Glaxo buy 85% sell 15% volume index 2.39 MFI 28.92
GT buy 73% sell 27% volume index 1.11 MFI 45.58
Honyflour buy 73% sell 27% MFI 56.00
Jaiz buy 57% sell 43% MFI 85.20
Japaul buy 0% volume index 0.72 MFI 86.12
Jberger buy � volume index 3.62 MFI 74.41
Lasaco buy 50% sell 50% volume index 1.75 MFI 31.04
Lawunion buy � MFI 73.30
Learn buy 40% sell 60% volume index 2.30 MFI 52.98
Linkass buy 0% MFI 33.31
Lvstk buy 33% sell 67% MFI 53.44
Mansard buy � MFI 61.21
M&B buy � volume index 2.42 MFI 78.31
Mben buy 0% MFI 66.12
Mobil buy � MFI 31.06
Nahco buy � volume index 1.22 MFI 60.03
Nascon buy � MFI 55.12
Neimeth buy � volume index 1.99 MFI 46.62
Nem buy 11% sell 89% MFI 49.22
Nestle buy 62% sell 38% volume index 0.94 MFI 33.30
Npf buy 79% sell 21% volume index 2.93 MFI 60.44
Oando buy 76% sell 24% MFI 24.42
Okomu buy 75% sell 25% volume index 1.67 MFI 51.04
Presco buy � volume index 0.71 MFI 58.74
Prestige buy � MFI 83.71
Pz buy 93% sell 7% volume index 1.02 MFI 28.28
Red buy 96% sell 4% volume index 4.66 MFI 34.89
Regalins buy 0% volume index 2.98 MFI 48.91
Royalex buy 0% MFI 50.17
Seplat buy 0% MFI 10.54
Stanbic buy � MFI 37.48
Sterling buy 81% sell 19% MFI 54.39
Total buy � volume index 1.50% MFI 22.77
Transcorp buy 45% sell 55% MFI 35.33
Uacp buy 13% sell 87% MFI 41.80
Uacn buy � volume index 1.22 MFI 57.77
Uba buy 59% sell 41% volume index 0.72 MFI 40.57
Ubn buy 64% sell 36% MFI 79.77
Ucap buy 57% sell 43% volume index 1.49 MFI 58.84
Unilever buy � MFI 6.94
Uniondac buy 0% MFI 4.99
Unity buy 80% sell 20% MFI 56.68
Upl buy � volume index 1.08 MFI 35.99
Vitafoam buy 58% sell 42% volume index 1.81 MFI 69.17
Wapco buy 78% sell 22% volume index 2.59 MFI 70.59
Wapic buy 71% sell 29% MFI 14.74
Wema buy 63% sell 37% MFI 3.58
Zenith buy 71% sell 29% volume index 0.96 MFI 34.80

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

Hello Investors,

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

I have added a further twist to it. This includes.
1. Low Priced Stocks to Watch
2. Stocks to lead recovery
3. Defensive Stocks
4. Dividend Stocks with Strong Yields and Fundamentals
5. Stocks to Benefit from Corona Virus-Induced Economic downturn and government Intervention


However, 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 the time to wait for no one.

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NEWLONG NP-7A SINGLE THREAD CHAIN STITCH PORTABLE BAG CLOSING MACHINE

Ideal for closing bags for agricultural products, animal feeds, fertilizer, flour, chemicals, etc.
For craft paper, cotton, hessian, jute, PP/PE woven cloth, and other bag materials.

Robust construction and safety design.
Trouble-free continuous operation.
High-speed revolution of 1,700 to 1,900 RPM
Safety plastic handle for insulation.
Oil pump lubrication system. Oil lines direct lubricant to main moving parts.
Improved looper and simple mechanism.
Steel cam - NO plastic cams.
Automatic thread cutting.
Minimum maintenance.

LAGOS ADDRESS: 33 Adele Road, Apapa, Lagos.
TEL: 08057933767, 07038524258, 08023129971
akan.u@ovarakonstant.com
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Expect Mixed Trend, Window Dressing, As Investors Interpret Impact Of MPR Cut, Economic Data


Market Update for May 28

The composite All-Share index had a sharp mixed performance on the Nigerian Stock Exchange (NSE) to close Thursday’s trading session lower on a high volume amidst selling sentiments, on a day members of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) at their meeting expressed seeming hope that the country could be saved from recession after all.

The committee members voted to cut the benchmark Monetary Policy Rate by 100 points to 12.5%, a move that is expected to further crash rates in the money market and trigger an inflow of funds to equity assets. This is especially expected after the likely revaluation of company performances on the NSE at the end of Q2.

The cheaper funds arising from the CBN’s decision will help reduce the effect of the Coronavirus (COVID-19) pandemic on the economy, with the private sector able to access more funds at cheaper rates, while at the same time enjoying the moratorium (suspension of interest rates) on the various intervention funds for one year.

Blue chips and medium cap stocks running ahead of the market’s overall action gave up some points during session, with banking stocks suffered losses as a result of profit booking that halted six successive days of bullish run. The mixed performance of corporate earnings released during day’s trading did not support the market as most of the numbers came below expectations, especially MRS Oil that posted negative full-year results, just as some insurance companies that made their numbers available. Berger Paints’ earnings report was fair, but came with poor payout of 25 kobo, a situation that is expected to affect the company’s share price negatively.

The resurgence of slowdown in oil price recovery as a result of the ongoing cold war between US and China, has become a source of concern for investors, even as the positive and strong momentum in the healthcare sector was sustained as buying interests in the industry stocks remain high.

Meanwhile, Thursday’s trading opened slightly up in the morning and turned red between mid-morning and midday on a strong volatility that pushed the NSEASI to an intraday low of 25,131.33 basis points, from a high of 25,463.11bps. Thereafter, the index finished the session lower at 25,166.01bps on a flat but positive breadth.

Market technicals for the day were negative and mixed, as volume traded was lower than the previous session’s, with positive breath and selling pressure as revealed by Investdata’s Daily Sentiment Report, showing a ‘sell’ position of 90% and buy volume of 10%. Total daily transaction volume index stood at 1.16, while impetus behind the day’s performance stayed strong, with Money Flow Index reading 83.38points, slightly down from the previous 83.50ps, indicating gradual exit of funds from the market as traders cash out profit.

Index and Market Caps

At the end of the day’s trading, the NSE benchmark index shed 55.24bps, closing at 25,166.01ps, from the opening level of 25,221.25ps, representing a 0.22% drop, while market capitalisation lost N29bn, closing at N13.12tr, from its opening value of N13.14tr which represented a 0.22% 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 driven by losses recorded in banking stocks like Guaranty Trust Bank, Zenith Bank, and Access Bank, as well as Flour Mills, and Ikeja Hotel, which impacted mildly on the NSE’s benchmark index, raising Year-To-Date loss to 6.24%, while market capitalization YTD decline stood at N32.12bn, representing a 0.04% drop from the year’s opening level.

Mixed Sector Indices

Performance indices across the sectors were mixed with the NSE Banking, Oil/Gas and Consumer Goods indexes sliding 2.79%, 0.63% and 0.07% down respectively, while the NSE Industrial Goods and Insurance closed 1.16% and 0.23% higher respectively.

Market breadth was flat and positive as advancers outpaced decliners in the ratio of 19:18, while activity in volume and value terms were down by 41.25% and 39.96% respectively, as investors exchanged 341.72m shares worth N3.36bn; from the previous day’s 581.61m units valued at N5.59bn. Volume was driven by trades in FBNH Holdings, Access Bank, Zenith Bank, UBA and Guaranty Trust Bank.

The best-performing stocks during the day were Cutix and May & Baker which gained 9.94% and 9.71%, closing at N1.88 and N3.39 per share respectively on full year earnings expectation and positive sentiment. On the flip side, ETI andIkeja Hotels lost 9.92% and 9.75% respectively, closing at N5.45 and N1.15 per share respectively on profit taking and market forces.

Market Outlook

We expect the mixed trend to continue on profit-taking and last trading day of the month window dressing, as investors interpret the impact of the MPR cut from 13.5%, corporate earnings and economic data. The MFI is showing improved institutional investors activity in the midst of the oscillating oil prices and rising new cases of coronavirus as number of infected people cross 8000 and deaths above 230.

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.

NB: The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing different Stocks for various investment objectives in 2020 and beyond 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
amberose.o@investdataonline.com
ambroseconsultants@yahoo.com

https://investdata.com.ng/expect-mixed-trend-window-dressing-as-investors-interpret-impact-of-mpr-cut-economic-data/#more

Post-Uduk SEC: Imperatives Of Sustaining 10-Year Capital Market Master Plan


Last week, President Muhammadu Buhari shocked not a few stakeholders of the Nigerian capital market with the appointment of Lamido Yuguda, a board member, as the new Director-General of the Securities & Exchange Commission (SEC), subject to the approval of the Nigerian Senate.

He will replace Ms. Mary Joseph Uduk, who has been DG in an acting capacity for a little over two years, and before who was Dr. Abdul Zubair, who on December 6, 2017, replaced suspended the substantive DG, Mounir Gwarzo, also in an acting capacity.

Zubair, who until his appointment, Director, External Relations in the commission, had been queried and demoted by the then Finance Minister, Mrs. Kemi Adeosun on April 19, 2018, giving way for Uduk. The SEC under his watch was accused of regulatory sloppiness over the lifting, cancellation and second lifting of the technical suspension placed on Oando Plc’s share price on the Nigerian Stock Exchange (NSE) in barely 48 hours.

The confusing communications from SEC, according to Oluyinka Akintunde, Adeosun’s spokesman at the time in a statement, “adversely impacted market confidence.”

Yuguda’s appointment follows the formal expiration of the tenure of Gwarzo who had over the period of his suspension been in court, seeking to clear himself of the various allegations.

The Uduk Years: Cleansing the stable

What may now come to be known as Uduk years at the SEC will always be recalled with mix feelings of the good times, not so good, and ‘outrightly’ ugly times. While she was bold at some times, taking on some fights, there are others she abandoned after being enmeshed in political intrigues and legal tangles.

One war she prosecuted strenuously was that against ponzi schemes and impostors, which she chased all over the country in her bid to enhance market confidence.

The commission, under her watch, did not also spear capital market operators who betrayed investor confidence in any form, as they were weeded out and made to face the consequences of their actions according to the rule book.

Perhaps given reasons for going after those who brought the market into one form of disrepute or the other, Uduk recalled during a two-day international capital market conference, organized in collaboration with the Department of Finance, University of Lagos, that many operators had taken advantage of loopholes in market regulations to defraud investors in the past.

In answer to a question by a participant, she lamented that many private companies, in collaboration with operators, took advantage of gaps in Nigeria’s investment laws, especially between 2007 and 2008 to defraud investors. They had embarked on private placements, luring unsuspecting investors by promising to list the shares for trading on the Nigerian Stock Exchange (NSE), when in reality they had no such intention.

“Market operators encouraged private placements knowing that the law did not allow the SEC to regulate private companies,” she stressed, urging operators to “join hands and revive this market.”

Recall that the February 2009 “Report of the SEC Committee on the Nigerian Capital Market,” chaired Olutola Mobolurin, chairman of the Capital Market Master Plan, estimated that up to N650bn was raised via private placements involving as many as 300 transactions between 2004 and 2008.

10-Year Master Plan

One achievement the Uduk years at the SEC will be remembered for is her zeal for driving the commission, using the 10-Year (2015 to 2025) Capital Market Master plan, developed by stakeholders as a roadmap to position the capital market as an enabler of accelerated development of the Nigerian economy.

The Master Plan launched by the SEC in 2014, with over 100 initiatives, was built around four strategic pillars namely the need to drive and facilitate capital raising for sustainable national development and transformation of Nigeria’s key economic sectors. In the process, it will effectively contribute to growth, even as the commission seeks to align market structure to the needs of Nigeria’s economy while increasing scale, size and professionalism of all stakeholders.

The plan is also built around the promotion of fair competition by putting in place practices expected to improve transparency, efficiency and liquidity, while at the same time attracting sustainable interest in the capital market from domestic and foreign investors, as well as other participants.

For the SEC as apex capital market regulator, the master plan seeks to create an enabling and facilitative oversight and regulatory framework that supports the deepening and development of the market.

The plan is believed to have the potential to facilitate implementation of, while contributing its quota Nigeria’s economic growth and development agenda.

Dematerialisation & e-Dividend

Two issues that the market will also remember Uduk and shareholders/investors grateful for are successful dematerialization of share certificates and payment of dividends electronically into the bank accounts of their beneficiaries, as ingrained in the Master plan. To know why, ask Nona Awoh, as well as Sir Sunny Nwosu, Adebayo Adeleke and Boniface Okezie, among other frontline shareholders their experience before this novel idea became a reality.

While the dematerialization process has since been completed with investors no longer worrying about loss or damage to their physical share certificates because they are now electronically stored at the Central Securities Clearing System, the e-Dividend process is work in progress. It is so, because although there are no new incidences of unclaimed dividend with the successful implementation of the electronic Dividend Mandate Management System (e-DMMS) launched in November 2015, there is, however need to ensure the legacy amounts are paid to their owners before they become statue barred.

At the end of January 2020, according to the commission, unclaimed dividends in the capital market stood at N153bn.

Also, the Direct Cash Settlement protects investors from funds diversion by ensuring that the proceeds from share sales are credited directly into the client’s account, rathr than that of the stockbroker.

Commodities, Derivatives, et al

Through its Commodities Trading Implementation Committee, the commission is engaging with the Standards Organizations of Nigeria (SON) to publicize the relevant standards issued for agricultural products, even with warehouses being mapped to provide information on their availability and location.

The SEC organised a roundtable in October 2019 and International Commodity Conference in March 2020, bringing together various domestic and international stakeholders on commodities to discuss and collaborate on areas that will showcase and unlock Nigeria’s potentials in the commodities space.

The commission is also working towards a future where the capital market would be used to solve challenges of commodity misprizing and non-standardization, as well as the low forex earnings bedeviling the country’s agricultural sector.

The commission has finalized the rules and other necessary frameworks supporting the introduction of the financial derivatives market in the Nigerian, a necessary product that can help in risk management, portfolio diversification, market depth and liquidity.

Others already put in place include Rules on Sukuk bonds to enhance the issuance process, as well as infrastructure financing, especially projects with positive environmental impact; as well as Green Bonds to finance or refinance projects that have positive environmental impact.

The need to expand the frontiers of literacy, which plays a significant role in financial inclusion and in the country, being a major component of economic development has attracted the SEC’s attention.

The commission has also commenced work on leveraging opportunities in the area of Financial Technology (Fintech) this opportunities to enhance efficiency, introduce new products and new platforms as well as supporting development of technology start-ups. The commission launched the Fintech Roadmap for the Nigerian Capital Market, with a dedicated committee working with other key stakeholders to implement the recommendations of the roadmap report.

Global Fronts

Nigeria’s SEC continues to be accorded some international recognition, with the election of Uduk into the board of the International Organisation of Securities Commissions (IOSCO) to represent the Africa/Middle-East Regional Committee (AMERC) for a two-year period.

Oando Plc Stand-off

One issue Uduk is leave hanging as she exits the SEC Nigeria is last year’s aborted forensic audit conducted by Deloitte & Touche on energy giant- Oando Plc, with the commission directing the board of Oando Plc to convene an Extra-Ordinary General Meeting (EGM) before July 1, 2019, at which to appoint replacements for Jubril Adewale Tinubu and Omamofe Boyo, Group Chief Executive and deputy, respectively. Both executives were also barred from being directors of any public companies for a period of five years.

The SEC had accused Oando of serious infractions of securities and other relevant laws, including “false disclosures, market abuses, misstatements in financial statements, internal control failures, and corporate governance lapses stemming from poor board oversight, irregular approval of directors’ remuneration, unjustified disbursements to directors and management of the company, related party transactions not conducted at arm’s length, amongst others.”

The company then sought the protection of the court against the commission’s action, resulting in a seeming stalemate since then.

Reacting at that time, renowned capital market players and chairman of the maiden Nigerian Code of Corporate Governance, Atedo Peterside, had urged the commission to be transparent in its handling of the forensic audit.

The SEC-Oando stand-off began during the tenure of Dr. Zubair as acting DG, with Uduk, who replaced him, as well as Mrs. Adeosun, the then Finance Minister, accused by some shareholders of withholding the audit report.

But Nonah Awoh, a capital market analyst told investdata News that the decision to make the audit report public is that of the Federal Government through the Finance Minister, rather than Uduk or the SEC.

The Recurring Decimal

Uduk becomes the third female Director-General of the Nigerian SEC, of which only Ms. Arunma Oteh was substantive. The third female occupant of the office, also in acting capacity, was Ms. Daisy Ekinneh.

Recall that the Coordinating Minister of the Economy, and Finance Minister, Dr. Ngozi Okonjo-Iweala, had appointed Ibrahim Bolaji Bello, the most senior staff of the SEC as acting DG of the commission to replace Ms. Daisy Ekinneh, appointed by the SEC board to act for Ms. Oteh, who on Monday, June 11, 2012, proceeded on compulsory leave. This was to allow for more detailed investigation into how Oteh supervised the celebration of five decades of capital market activities in Nigeria, code-named “Project 50.”

The Task Before Yuguda

One thing market stakeholders will agree is that Ms. Uduk was able to run along with the baton without a lag time, because she simply continued from where those immediately before her stopped, rather than attempting to start a new agenda afresh.

It is important for the incoming executive management and the relatively new board at the SEC to ensure continuity. The commission is lucky this time as a full-fledged management prepares to take over at a time the board has been recently reconstituted, unlike since early 2015 when the then board chaired by Peter Obi, former governor of Anambra State was dissolved by the newly elected President Buhari, without a replacement. That was the situation that Gwarzo and his executive committee, and those all who acted after his suspension found themselves, with the commission forced to become another agency under the Federal Ministry of Finance, and the Minister its one-man board with the attendant challenges.

Meanwhile, there is need to sustain the tempo of the 10-Year Capital Market Master Plan, especially as it relates to further deepening and ensuring that the Nigerian market becomes a hub for the long-term capital needs of businesses, and for infrastructure and other innovative public financing.

This must not the time for anyone to reinvent the wheel under any guise, as the new management must hit the ground running for the good of the Nigerian capital market and economy.

As Uduk sings her Nunc dimities, activities of the next few days and weeks under Yuguda will tell whether there is indeed a brighter tomorrow for Nigeria’s SEC and the capital market. Will that tomorrow come? Only time will tell.

https://investdata.com.ng/post-uduk-sec-imperatives-of-sustaining-10-year-capital-market-master-plan/

CBN Cuts Policy Rate To 12.5%, Says Nigeria’s Economy May Escape Recession

Members of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) rose from their meeting on Thursday, voting unanimously to cut its benchmark Monetary Policy Rate (MPR) by 100 basis points to 12.5% while holding all other policy parameters constant.

Increasing the MPR at this stage, the committee argued, will “be counter-intuitive and will result in upward pressure on retail market rates, maintaining that although a sharp decline in output growth is expected in Q2 2020 and may be the third quarter.”

Specifically, seven members voted for a reduction of the policy rate by 100 basis points, two opted for 150 basis points, while a voice thought a 200 basis points vote will just be fine. They however retained the Asymmetric Corridor of +200/-500 basis points around the MPR; the CRR at 27.5%; and the Liquidity Ratio at 30%.

In a communiqué signed by Godwin Emefiele, the committee’s chairman and CBN Governor, members expressed optimism that the Nigerian economy may yet escape sliding into the much-touted recession after all.

Recall that the World Bank projected early April that Nigeria’s economy could tumble by as much as 3.4% this year in the aftermath of the Coronavirus pandemic.

But the MPC members agree that going by the implementation of its various stimulus initiatives, according to the communiqué, the Nigerian “economy would reverse to positive growth by the fourth quarter.

“The committee expects that on the backdrop of the various stimulus packages and increased credit at lower interest rates, the impact of the COVID-19 pandemic would be relatively less severe than had earlier been expected and the reversal in growth deceleration would become more optimistic.”

Members stressed that “if all stimulus packages already announced by the Bank such as concessionary rates, loan restructuring, and targeted loans to agriculture, manufacturing and health sector are well utilized, this will produce the desired impetus needed to boost economic recovery in Nigeria.”

They noted the imperative to strike a balance between supporting the recovery of output growth while maintaining “stable price development across inflation, the exchange rate and market interest rates.

Members recalled that the Cash Reserve Requirement (CRR) was recently adjusted upwards as a means of tightening the stance of policy, adding that as part of its response to the COVID-19 pandemic the CBN had cut interest rates associated with all its interventions from 9 to 5%. The last of this was the interest rates of its facilities through Microfinance banks and primary mortgage institutions.

According to a breakdown of disbursement of funds under the various CBN intervention initiatives that informed the optimism, the communiqué noted for example, “that under the N100bn Healthcare Sector Intervention Fund, the CBN has approved and disbursed N10.15bn for some projects for the establishment of advanced diagnostic and health centers and the expansion of some pharmaceutical plants for essential drugs and intravenous fluids.

“As part of the N1tr intervention targeted at Agriculture and Manufacturing firms, the bank has further disbursed N93.2bn under the Real Sector Support Fund to boost local manufacturing and production across critical sectors,” involving over 44 greenfield and brownfield projects.

Furthermore, the CBN said it has also approved N10.9bn to 14,331 beneficiaries under the N50bn Targeted Credit Facility for households and SME’s, out of which N4.1bn has been disbursed to 5,868 successful beneficiaries.

The committee, therefore, directed the CBN “management to reach out to the banks to encourage them to offer and disburse these funds to those priority sectors of the economy so as to stimulate aggregate demand and create more jobs.

“The MPC appraised the Federal Government’s resolve to maintain the core of its spending plans for 2020 as this remained vital for the attainment of the much-needed economic recovery.”

It also applauded the government’s efforts at revising the oil price benchmark downwards to reflect prevailing conditions, reiterating the urgent need for the government to improve tax collections, through a gradual, but purposeful diversification of the economy’s revenue base.

Members also urged government to remain focused on the implementation of the revised 2020 – 2022 Medium Term Expenditure Framework (MTEF) as the basis for sustainable fiscal policy.

The MPC emphasized the need for Government to work towards a gradual reopening of the economy in line with recommendations of the Presidential Task Force (PTF) and advice from medical experts, drawing attention to the need to directed efforts at saving not just lives but also livelihoods.

This, they stressed, will enable the resumption of economic activities necessary to stimulate growth, accelerate recovery pace and restore livelihoods, particularly the vulnerable members of the society, expressing concerns over the heightened inflationary pressure attributed to a combination of monetary and structural factors.

“While price stability remains the Bank’s primary mandate, the committee expressed the need for a balanced approach in supporting growth in the face of rising domestic prices.”

With respect to output, the Committee urged the Federal Government to continue exploring options of partnership with the private sector to fund investment in infrastructure, so as to aid job creation, support production, and boost output growth.

The committee equally reiterated the need to attract both direct foreign and domestic investments necessary to support growth in key economic sectors, lie Nigerian auto manufacturing, aviation, and rail industries.

https://investdata.com.ng/cbn-cuts-policy-rate-to-12-5-says-nigerias-economy-may-escape-recession/#more

Investdata Daily Sentiment Report as of May 28, 2020

NSEASI buy 40% sell 60% volume index 2.08 MFI 83.60
Access buy � volume index 1.06 MFI 87.84
Afrprud buy 0% volume index 2.37 MFI 67.00
Aiico buy 50% sell 50% volume index 2.23 MFI 81.89
Ardova buy 0% volume index 2.01 MFI 73.03
Caverton buy � volume index 5.77 MFI 48.90
Chams buy � volume index 3.72 MFI 59.61
Dangsugar buy 67% sell 33% volume index 2.80 MFI 75.88
Eti buy 67% sell 33% volume index 2.98 MFI 95.75
Fbnh buy � volume index 2.75 MFI 73.46
Fcmb buy 17% sell 83% volume index 0.84 MFI 72.84
Fidelity buy 88% sell 12% volume index 2.05 MFI 85.66
Fidson buy � volume index 0.83 MFI 71.50
Fmn buy � volume index 1.10 MFI 65.35
GT buy 81% sell 19% volume index 2.22 MFI 68.79
Honyflour buy 0% volume index 1.98 MFI 81.42
Jaiz buy � volume index 3.99 MFI 75.59
Jberger buy � volume index 1.18 MFI 69.00
Lasaco buy 0% volume index 3.65 MFI 68.82
M&B buy � volume index 1.53 MFI 50.01
Mtnn buy � volume index 2.29 MFI 32.55
Nahco buy � volume index 2.85 MFI 32.99
Neimeth buy � volume index 3.35 MFI 94.16
Pz buy 0% volume index 2.66 MFI 100.00
Stanbic buy � volume index 1.23 MFI 79.10
Sterling buy � MFI 86.32
Transcorp buy 17% sell 83% volume index 5.29 MFI 58.98
Uba buy 89% sell 11% volume index 2.17 MFI 88.18
Ucap buy 56% sell 44% volume index 2.38 MFI 66.70
Unity buy 0% volume index 2.62 MFI 37.25
Vitafoam buy 90% sell 10% volume index 2.48 MFI 48.31
Wapco buy 20% sell 80% volume index 3.29 MFI 55.58
Wapic buy 0% volume index 2.12 MFI 63.24
Wema buy 50% sell 50% volume index 7.85 MFI 74.03
Zenith buy 90% sell 10% volume index 1.97 MFI 84.05

https://investdataltd..com/2020/05/investdata-daily-sentiment-report-as-of_28.html

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Investors Stay Cautious On NGSE, Amidst Profit-taking, Reactions To Corporate, Economic Data

Market Update for May 18, 2020

Equity prices on the Nigerian Stock Exchange (NSE) on Monday closed higher, reversing the previous session’s negative stance amidst strong buying sentiments as it tested the short-term bearish channel trend line for a breakout on a high traded volume that jacked up the lead performance indicator.

The positive sentiment came as crude oil prices sustained recovery with the gradual return of normal life after months of lockdowns as many governments moved to curtail the spread of deadly Coronavirus (COVID-19) pandemic, which changed the demand pattern for oil. Recall that before then, there was a production cut agreement reached by members and non-members of the Organisation of Petroleum Exporting Countries (OPEC) cartel, arising from the historical price crash. Investors have continued to react positively to recent corporate earnings, while taking advantage of low prices to position in high yields stocks, even as there is noticeable inflow of funds from institutional investors targeting defensive and ‘safe’ stocks in the low yield environment, taking note of the inherent risk in other investment windows.

The short-term recovery move in a long bearish market continues, irrespective of the seeming divergence from economic fundamentals and events, following which we call for cautious play by traders. Investors, on the other hand, should gradually realign their portfolios ahead of another price correction when Q2 earnings score-cards and other economic data start confirming the weak state of the economy and, in the process, trigger adjustments in price levels and valuations.

Meanwhile, Monday’s trading opened on the upside and was sustained throughout the day, despite the fluctuating profit-taking and positioning that pushed the NSE composite index to an intraday high of 24,010.19bps, from a low of 23, 831.33ps, before finishing the session higher at 23,941.75ps on a positive breadth.

Monday’s market technicals were positive and strong with volume higher than the previous session, in the midst of positive breadth and strong buying pressure as revealed by Investdata’s Daily Sentiment Report, showing a ‘buy’ volume of 100%. Total daily transaction volume index stood at 1.16, while the impetus behind the day’s performance stayed strong. Money Flow Index read 81.08points, up from the previous 79.89s, indicating funds are returning to some stocks.

Index and Market Caps

The NSE All Share index, at the end of Monday’s trading gained 70.42ps, closing at 23,941.75ps, from the opening level of 23,871.33ps, representing a 0.29% rise, while market capitalisation rose by N36.69bn to close at N12.48tr, from the opening value of N12.44tr, and representing a 0.29% value gain. Also the share price of Nestle was adjusted for final dividend of N45.

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.

The upturn on Monday was impacted by demand for MTNN, Guaranty Trust Bank, Zenith Bank, BUA Cement, Okomu, Lafarge Africa, Wema, Access Bank, FBNH, FCMB, Unilever, Vitafoam, International Brewery and Fidson. This impacted positively on the NSE’s benchmark index, reducing its Year-To-Date loss to 10.8%, while market capitalization YTD decline stood at N481.18 billion, representing a 3.68% drop from the year’s opening level.

Mixed Sector Indices

Performance across the sectors were mixed and largely bullish, except the NSE Insurance and Oil/Gas that closed lower by 1.08% and 0.08% respectively, while NSE Industrial Goods index led the advancers, after gaining 0.94%. It was followed by the NSE Consumer Goods and Banking with 0.63% and 0.51% up respectively.

Market breadth, remained positive as advancers outnumbered decliners in the ratio of 25:13, while market activity in terms of volume and value were up by 49.47% and 19.65% respectively, as investors exchanged 330m shares worth N2.93bn from the previous day 221.45m units valued at N2.45bn. This volume was boosted by trades in Access Bank, Zenith Bank, Sterling Bank, FBNH and Lafarge Africa.

Okomu Oil and Neimeth Pharm were the best-performing stocks for the day, gaining 9.99% and 9.72%, closing at N60.55 and N0.79 per share on dividend qualification and positive sentiment for healthcare stocks. On the flip side, Lasaco Assurance and Cornerstone Insurance lost 7.41% and 6.78% respectively, closing at N0.25 and N0.55 per share respectively, on profit-taking. Also on Monday, the board of the Transnational Corporation of Nigeria Plc (Transcorp) published its first-quarter score-card with profit dropping by 96.14%, which it blamed on the impact of the COVID-19 pandemic, warning that the rest of the year may not be robust like initially projected (READ MORE).

Market Outlook

We expect this trend to continue in the face of profit-taking, price adjustment, qualification dates and positioning as players react to impressive corporate earnings and dividend payout, as April inflation numbers and 2020Q1 GDP are expected from NBS, even as MFI reveals improved institutional investors activity in the midst of oil and stocks price recovery. Just as the rising new cases of the virus spread and negative impact on the economy remain a concern.

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.

NB: The home study packs of our Invest 2020 Opportunities and Trade Ideas Summit, containing different Stocks for various investment objectives in 2020 and beyond are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

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info@investdataonline.com
info@investdata.com.ng
amberose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 0803205546

https://investdata.com.ng/investors-stay-cautious-on-ngse-amidst-profit-taking-reactions-to-corporate-economic-data/#more

THIS IS HOW TO MAKE DECISION LIKE AN EXPERT

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Unfortunately, how can you overcome this delusion when you have already convinced yourself that your inability to become what you want in life has been hindered?

Don't forget that your weakness always starts with your heart. As a result, you alone are responsible for them. This goes with the Holy Book of Proverb "guide your heart diligently, out of it are the issues of life"

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https://investdataltd..com/2020/05/how-to-make-decision-like-expert.html

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CBN Postpones MPC Meeting To Thursday


The Central Bank of Nigeria (CBN), on Thursday announced that the third regular meeting of its Monetary Policy Committee (MPC) will now hold on Thursday, May 28, 2020, instead of the earlier scheduled Monday and Tuesday, Mary 25 and 26, 2020.

This, according to a statement by Isaac Okorafor, the Director of Corporate Communications at the CBN, the postponement is due to the Federal Government’s declaration of both days as Eid-el Fitr holidays, to mark the end of the Islamic holy month of Ramadan.

Okorafor explained that “for the avoidance of doubt, the CBN has put in place all necessary machinery for the meeting to now hold for only one day on account of the on-going COVID-19 national lockdown.”

This, he added, is also to align the “meeting with extant rules of the Presidential Task Force (PTF) on COVID-19 and advisories from other relevant agencies.”

https://investdata.com.ng/cbn-postpones-mpc-meeting-to-thursday/

Investdata Daily Sentiment Report as of May 21, 2020

NSEASI buy 99% sell 1% volume index 1.59 MFI 82.33
Access buy 33% sell 67% volume index 2.34 MFI 85.99
Afrprud buy � volume index 2.72 MFI 79.92
Aiico buy 29% sell 71% volume index 4.99 MFI 74.19
Cadbury buy � volume index 1.86 MFI 73.06
Caverton buy � volume index 1.25 MFI 82.39
Chams buy 0% volume index 1.94 MFI 48.53
Dangsugar buy � volume index 2.98 MFI 100.00
Eti buy 50% sell 50% volume index 3.27 MFI 90.90
Fbnh buy 60% sell 40% MFI 72.41
Fcmb buy 29% sell 71% volume index 1.22 MFI 76.62
Fidelity buy 25% sell 75% MFI 73.47
Fidson buy � volume index 1.42 MFI 70.44
Glaxo buy 50% sell 50% volume index 1.78 MFI 86.19
GT buy 54% sell 46% volume index 0.88 MFI 55.32
Jaiz buy � volume index 4.28 MFI 59.95
Lasaco buy � volume index 5.02 MFI 51.64
M&B buy 71% sell 29% volume index 3.91 MFI 54.32
Nahco buy 12% sell 88% volume index 2.00 MFI 55.68
Nem buy 0% volume index 1.38 MFI 43.28
Npf buy � volume index 3.87 MFI 96.84
Oando buy 0% MFI 75.59
Okomu buy 0% volume index 18.02 MFI 100.00
Red buy � volume index 0.83 MFI 49.68
Sterling buy � MFI 57.69
Transcorp buy � volume index 2.82 MFI 66.98
Uacn buy � MFI 49.36
Uba buy � volume index 1.69 MFI 72.63
Ucap buy � volume index 0.93 MFI 58.57
Unity buy � volume index 1.97 MFI 40.84
Vitafoam buy � volume index 2.03 MFI 63.30
Wapco buy 13% sell 87% volume index 2.35 MFI 57.43
Wema buy 0% volume index 1.58 MFI 50.47
Zenith buy � volume index 2.38 MFI 71.33

https://investdataltd..com/2020/05/investdata-daily-sentiment-report-as-of_33.html

Investors Stay Cautious On NGSE, Amidst Profit-taking, Reactions To Corporate, Economic Data


Market Update for May 18, 2020

Equity prices on the Nigerian Stock Exchange (NSE) on Monday closed higher, reversing the previous session’s negative stance amidst strong buying sentiments as it tested the short-term bearish channel trend line for a breakout on a high traded volume that jacked up the lead performance indictor.

The positive sentiment came as crude oil prices sustained recovery with the gradual return of normal life after months of lockdowns as many governments moved to curtail the spread of deadly Coronavirus (COVID-19) pandemic, which changed the demand pattern for oil. Recall that before then, there was a production cut agreement reached by members and non-members of the Organisation of Petroleum Exporting Countries (OPEC) cartel, arising from the historical price crash. Investors have continued to react positively to recent corporate earnings, while taking advantage of low prices to position in high yields stocks, even as there is noticeable inflow of funds from institutional investors targeting defensive and ‘safe’ stocks in the low yield environment, taking note of the inherent risk in other investment windows.

The short-term recovery move in a long bearish market continues, irrespective of the seeming divergence from economic fundamentals and events, following which we call for cautious play by traders. Investors, on the other hand, should gradually realign their portfolios ahead of another price correction when Q2 earnings score-cards and other economic data start confirming the weak state of the economy and, in the process, trigger adjustments in price levels and valuations.

Meanwhile, Monday’s trading opened on the upside and was sustained throughout the day, despite the fluctuating profit-taking and positioning that pushed the NSE composite index to an intraday high of 24,010.19bps, from a low of 23, 831.33ps, before finishing the session higher at 23,941.75ps on a positive breadth.

Monday’s market technicals were positive and strong with volume higher than the previous session, in the midst of positive breadth and strong buying pressure as revealed by Investdata’s Daily Sentiment Report, showing a ‘buy’ volume of 100%. Total daily transaction volume index stood at 1.16, while the impetus behind the day’s performance stayed strong. Money Flow Index read 81.08points, up from the previous 79.89s, indicating funds are returning to some stocks.

Index and Market Caps

The NSE All Share index, at the end of Monday’s trading gained 70.42ps, closing at 23,941.75ps, from the opening level of 23,871.33ps, representing a 0.29% rise, while market capitalisation rose by N36.69bn to close at N12.48tr, from the opening value of N12.44tr, and representing a 0.29% value gain. Also the share price of Nestle was adjusted for final dividend of N45.

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.

The upturn on Monday was impacted by demand for MTNN, Guaranty Trust Bank, Zenith Bank, BUA Cement, Okomu, Lafarge Africa, Wema, Access Bank, FBNH, FCMB, Unilever, Vitafoam, International Brewery and Fidson. This impacted positively on the NSE’s benchmark index, reducing its Year-To-Date loss to 10.8%, while market capitalization YTD decline stood at N481.18 billion, representing a 3.68% drop from the year’s opening level.

Mixed Sector Indices

Performance across the sectors were mixed and largely bullish, except the NSE Insurance and Oil/Gas that closed lower by 1.08% and 0.08% respectively, while NSE Industrial Goods index led the advancers, after gaining 0.94%. It was followed by the NSE Consumer Goods and Banking with 0.63% and 0.51% up respectively.

Market breadth, remained positive as advancers outnumbered decliners in the ratio of 25:13, while market activity in terms of volume and value were up by 49.47% and 19.65% respectively, as investors exchanged 330m shares worth N2.93bn from the previous day 221.45m units valued at N2.45bn. This volume was boosted by trades in Access Bank, Zenith Bank, Sterling Bank, FBNH and Lafarge Africa.

Okomu Oil and Neimeth Pharm were the best-performing stocks for the day, gaining 9.99% and 9.72%, closing at N60.55 and N0.79 per share on dividend qualification and positive sentiment for healthcare stocks. On the flip side, Lasaco Assurance and Cornerstone Insurance lost 7.41% and 6.78% respectively, closing at N0.25 and N0.55 per share respectively, on profit-taking. Also on Monday, the board of the Transnational Corporation of Nigeria Plc (Transcorp) published its first-quarter score-card with profit dropping by 96.14%, which it blamed on the impact of the COVID-19 pandemic, warning that the rest of the year may not be robust like initially projected (READ MORE).

Market Outlook

We expect this trend to continue in the face of profit-taking, price adjustment, qualification dates and positioning as players react to impressive corporate earnings and dividend payout, as April inflation numbers and 2020Q1 GDP are expected from NBS, even as MFI reveals improved institutional investors activity in the midst of oil and stocks price recovery. Just as the rising new cases of the virus spread and negative impact on the economy remain a concern.

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/investors-stay-cautious-on-ngse-amidst-profit-taking-reactions-to-corporate-economic-data/#more

NGSE Indicators Soar Higher On Improved Sentiments, Amidst Cautious Wait For Economic Data


Market Update for May 19

Tuesday’s trading on the Nigerian Stock Exchange (NSE) was bullish once again on the gains of medium and large-cap company shares that pushed the benchmark All-Share index higher. The strong buying interest in banking stocks, as well as Dangote Cement, Unilever, Okomu Oil, and Presco, extended previous day’s positive outlook and sentiments.

The composite index finally broke out the short-term bearish channel trend line on a high traded volume as mentioned in our previous updates, confirming a steady recovery in the face of corporate earnings inflow with mixed performance. BUA Cement and Studio Press made their 2019 full year financials available to the market on Tuesday, with the cement company proposing a dividend of N1.75 per share.

The back-to-street sentiment and activities that are driving crude oil price at the international market continue to support the local bourse with the seemingly stable demand for Nigeria’s Brent crude, as the price heads back to pre-coronavirus levels after touching $34 per barrel during Tuesday trading, with normalcy gradually returning to the global economy. This is positive news for the nation’s economy and government.

The movement in banking stocks during the session has increased price-to-earnings ratios of the banks, even as Q2 earnings are likely to come worse than the first quarter, thereby impacting their valuations across board. It is necessary to buy the above resistance but to avoid buying at a higher price, study your environment to know when to hold cash or value positions.

Tuesday’s trading started in the green and was sustained for the rest of the day, amidst position-taking that pushed the NSE’s performance indicator to an intraday high of 24,205.89 basis points, from a low of 23,943.29ps, after breaking out the 24,000 marks to close the session higher at 24,202.87bps on a high volume.

Market technicals for the day were positive and strong with volume higher than the previous session’s, in the midst of positive breadth and buying sentiments as revealed by Investdata’s Daily Sentiment Report, showing a ‘buy’ volume of 99%. Total daily transaction volume index stood at 1.18, while the momentum behind the day’s performance stayed strong. Money Flow Index read 81.51points, up from the previous 81.08ps, indicating funds are returning to some stocks.

Index and Market Caps

At the close of Tuesday’s trading, the lead performance indicator gained 261.12bps, closing at 24,202.87ps, from the opening level of 23,941.75ps, representing a 1.09% growth, while market capitalization rallied by N136.09bn to close at N12.61tr, from the opening value of N12.48tr which represented a 1.09% appreciation in an investors portfolio.

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.

The day’s advancement was driven by position taking in stocks like Dangote Cement, Guaranty Trust Bank, Zenith Bank, Okomu, Prseco, BUA Cement, UBA, Fidelity Bank, Access Bank, FBNH, Unilever, Stanbic IBTC and Transcorp. This impacted positively on the NSE’s benchmark index, reducing its Year-To-Date loss to 9.83%, while market capitalization YTD decline stood at N346.09bn, representing a 2.59% drop from the year’s opening level.

Bullish Sector Indices

All the sectorial performance indexes were up, while NSE Banking index led the advancers, after gaining 2.08%. It was followed by the NSE Industrial Goods and Insurance with 0.78% and 0.41% higher, just as the NSE Consumer goods and Oil/Gas was up by 0.33% and 0.24% up respectively.

Market breadth, remained positive as advancers outnumbered decliners in the ratio of 29:8, while transactions in volume and value terms were up by 2.65% and 33.79% respectively, as investors exchanged 339.76m shares worth N3.92bn from the previous day’s 331m units valued at N2.93bn. This volume was boosted by trades in Access Bank, Zenith Bank, Sterling Bank, FBNH and Lafarge Africa.

The best-performing stocks for the session were Caverton and Okomu Oil, which gained 10% and 9.99%, closing at N2.75 and N64.40 per share on full year earning expectation and market sentiment. On the flip side, Lasaco Assurance and Nahco lost 8% and 4.51% respectively, closing at N0.23 and N2.33 per share respectively, on selloffs.

Market Outlook

We expect this trend to continue in the face of profit-taking, price adjustment, qualification dates, and positioning as players react to the impressive corporate earnings and dividend payouts. This is just as the April inflation numbers and 2020Q1 GDP are expected from the National Bureau of Statistics (NBS), even as MFI reveals improved institutional investors' activity in the midst of oil and stock price recovery.

However, the rising new cases of the coronavirus pandemic spread, and its negative impact on the economy remains of grave concern.

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-indicators-soar-higher-on-improved-sentiments-amidst-cautious-wait-for-economic-data/#more

Investdata Daily Sentiment Report as of May 19, 2020

NSEASI buy 99% sell 1% volume index 1.27 MFI 81.51
Access buy 60% sell 40% volume index 3.94 MFI 81.12
Afrprud buy � MFI 77.42
Aiico buy � volume index 1.26 MFI 67.31
Caverton buy � volume index 2.46 MFI 77.78
Chams buy � volume index 1.67 MFI 36.39
Cileasing buy � volume index 2.96 MFI 56.74
Dangcem buy � volume index 1.75 MFI 70.48
Fbnh buy � volume index 0.75 MFI 73.83
Fcmb buy 0% MFI 69.08
Fidelity buy � MFI 73.97
Fidson buy � volume index 4.16 MFI 68.35
Fmn buy � volume index 3.82 MFI 62.26
GT buy 62% sell 38% volume index 1.17 MFI 54.09
Lasaco buy 0% volume index 5.80 MFI 18.05
Nahco buy 0% volume index 3.00 MFI 47.19
Npf buy � volume index 2.69 MFI 96.28
Red buy � MFI 47.63
Transcorp buy � volume index 1.91 MFI 49.53
Uba buy � volume index 0.91 MFI 74.88
Ucap buy � volume index 2.09 MFI 56.21
Unity buy � volume index 1.13 MFI 36.28
Vitafoam buy � volume index 1.82 MFI 61.66
Wapco buy 0% MFI 78.56
Wema buy 67% sell 33% volume index 1.32 MFI 48.60
Zenith buy 70% sell 30% volume index 1.33 MFI 67.42

https://investdataltd..com/2020/05/investdata-daily-sentiment-report-as-of_21.html