₦airaland Forum

Investdata Price, Earnings Track For Week Ended Thursday, April 9, 2020

Investdata Price, Earnings Track For Week Ended Thursday, April 9, 2020

Four Simple Steps To Surviving This Bear Market On NGSE


1. Keep your confidence: In the first place, it was your confidence that the stock market will make money for you if you invest correctly that attracted you. Therefore, do not underestimate the importance of keeping a strong mind during a downtrend such as this.

I used to be discouraged, thinking that there would never be an uptrend again. Now, I am highly encouraged, because I know with 100% certainty that we would end this downturn with a brand new uptrend someday. The key here is to keep your mind at rest so as take advantage at the dawn of a healthier market condition.

2. Have a watch list: A watch-list in equity investment must contain stocks you plan to buy for one reason or another. The attraction could be the price, earnings performance, volume traded or the intrinsic value. When the market starts a new uptrend, it is important to be ready to jump in on the strongest stocks out there and make money. Many stocks are undervalued in the Nigerian stock market now. So, select the ones that should be on your watch list.

3. Keep a few positions: During a down-market, keep a few stocks in your portfolio for effective monitoring and revaluation. If you are used to buying 20 to 30 stocks, there is nothing wrong with buying just two or five. One reason is that it allows you to scale into some stocks you might like for a longer-term. Another reason is that smaller positions help you to deal with higher volatility and protect your capital. That way, you do not get stopped out of everything and bleed to death with the wide market fluctuation.

4. Hold cash: Cash is king at all times and in a bear market, it is better to hold cash, not stocks, because three out of four stocks move with the general direction of the market. When the market is going down, even the strongest companies with good fundamentals can get hit. For example, during the 2008-2009 financial crises, Nigerian Breweries’ price dropped from N120 to N23, not because the company’s products stopped selling, but the mood of the market and the trend which affected its share price. This same company recovered and surpassed its peak, touching N193 in 2017.

Avoid holding stocks, so you would not lose your hard-earned money with the market. There is nothing wrong with keeping some cash on the sidelines for healthier conditions. You don’t have to invest all your capital in the market at all times.

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

Meanwhile, the home study packs of Invest 2020 Opportunities and Trade Ideas Summit containing the 10 Golden Stocks for 2020 are available with an average return of 13.37% in less than 30 days. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

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

https://investdata.com.ng/2020/04/four-simple-steps-to-surviving-this-bear-market-on-ngse/

Investdata Daily Sentiment Report As of April 10, 2020

NSEASI buy � volume index 0.71 MFI 24.89
Access buy � volume index 0.78 MFI 48.50
Aiico buy � volume index 0.77 MFI 43.80
Bua buy � volume index 2.61 MFI 7.14
Chams buy 0% MFI 50.03
Dangcem buy 0% volume index 7.92 MFI 67.42
Dangsugar buy � volume index 1.42 MFI 20.43
Fbnh buy 71% sell 29% volume index 0.99 MFI 78.47
Fcmb buy 17% sell 83% volume index 0.79 MFI 59.44
Fidelity buy 62% sell 38% volume index 1.91 MFI 69.96
Jaiz buy 0% MFI 37.97
Nestle buy � volume index 0.84 MFI 60.55
Oando buy 0% MFI 55.54
Stanbic buy � MFI 28.62
Sterling buy � MFI 6.88
Transcorp buy 67% sell 33% MFI 49.94
Uacn buy 50% sell 50% volume index 1.05 MFI 12.50
Uba buy � volume index 0.87 MFI 65.51
Wapco buy 54% sell 46% volume index 6.15 MFI 86.89
Wapic buy 0% MFI 56.78
Wema buy 71% sell 29% volume index 1.26 MFI 85.13
Zenith buy � MFI 42.24

https://investdataltd..com/2020/04/investdata-daily-sentiment-report-as-of_14.html

Hello Investors and
Traders,

Several event really
happened last week as
the market continues to
experience a downtrend.

Like I said the current bear
market is as a result of
the Pandemic Covid-19
which shutdown the world
economy. This is definitely
a phase so hang in there

As a result, I have taken
my time to give you the
steps that will guide you in
making decisions and the
possible outlook for the
week.

Please don't forget to stay
safe...

Best,

Ambrose Omordion
08028164085,
08032055467


https://www.youtube.com/watch?v=Txl-6R4I22c

Hello Investors,

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

I have added a further twist to it. This includes.
1. Long term sticks
2. Stocks to lead recovery
3. Defensive Stocks
4. Dividend Stocks with Strong Yields and Fundamentals
5. Low priced Stocks to Watch

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.

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

Please my neighbor's son brought these questions to assist since yesterday, I have not been able to answer even one. I need help...


Subject: GOVERNMENT

Answer 5 out of 7 objectives Questions, but question 7 is compulsory (each question carries the same mark).

Time: 1 hour

Questions:
1. In which year was Corona Virus brought into Nigeria, what is the name of the Italian Man that brought it into Nigeria? (20 Marks)

2. As at 6th April 2020, 35 people were cured and discharged from Covid-19. Mention 5 (five) names out of the 35 discharged and what they used to treat them. (20 Marks)

3. During Covid-19 Pandemic in Nigeria, a Chinese Billionaire donated Kits to Nigeria to curtail the Corona virus. Where were the items distributed, mention the states and their local government. (20 Marks)

4. During Covid-19 Pandemic in Nigeria and due to social distancing, Individual and corporate bodies donated billions of naira to Federal Government. What was the money to be used for and how many Nigerian benefited from the money? (20 Marks)

5. During Covid-19 Pandemic in Nigeria, other countries have released Trillions and Billions to their Citizens to cushion for Stay at Home. Discuss on how the loaf of bread, one cup of Rice and beans was distributed among the citizens of Nigeria. (use Iyana-Ipaja and Agege as a case study). (20 Marks)

6. The woman sharing money said she physically shared money to 2.6m Nigerians. Lia Mohammed said they have transferred N5b to Nigerians.

(6a.) Name the Government officials that went out with the woman and list the area the money was shared. (15 Marks)

(6b.) Name the Bank, that the N5b was transferred from, to the Nigerian citizens by Lia Mohammed. (5 Marks).

7. A govt that could not finish distributing 7.5 Million voters card in 4 years has just shared 100 Billion Naira to 2.5 Million Nigerians in less than 72 hours.
Explain excessively (20 Marks)

NB: I find these questions quite intriguing and thought I share it with you.

@ Anonymous Source

Investdata Daily Sentiment Report as of April 9, 2020

NSEASI buy 3% sell 97% volume index 0.76 MFI 8.60
Access buy � MFI64.35
Afrprud buy 0% MFI 62.66
Aiico buy � MFI 32.94
Courtville buy � volume index 1.53 MFI 15.19
Dangcem buy 0% volume index 2.12 MFI 13.97
Fbnh buy � volume index 1.84 MFI 66.08
Fcmb buy � volume index 2.87 MFI 44.29
Fidelity buy � volume index 1.84 MFI 42.52
Fmn buy � volume index 1.69 MFI 51.64
GT buy 0% volume index 0.71 MFI 61.71
Learn buy 0% volume index 11.14 MFI 0.00
Mben buy 0% volume index 4.28 MFI 100.00
Mtnn buy 0% volume index 1.71 MFI 55.39
Oando buy � MFI 52.67
Stanbic buy 50% sell 50% volume index 3.16 MFI 57.38
Transcorp buy 0% MFI 24.78
Uba buy 0% MFI 55.56
Ucap buy 0% MFI 65.62
Unilever buy � volume index 3.33 MFI 71.81
Wapco buy � volume index 1.60 MFI 41.45
Wapic buy � MFI 9.90
Zenith buy 33% sell 67% MFI 36.75

https://investdataltd..com/2020/04/investdata-daily-sentiment-report-as-of.html

Mixed Intraday Trend May Continue On NGSE, Amidst Cautious Trading, Short-term Profit Taking

Market Update for April 8
Equity prices on the Nigerian Stock Exchange at midweek continued its upward trend for the second day as buying interests in banking stocks and other large company shares ahead of their first-quarter earnings reports. This is even as the Coronavirus cases in Nigerian remained on the rise as testing continues to trend higher.
The seeming market rebound started on Tuesday with strong gains, which was sustained on Wednesday despite being at a slower pace. The majority of the sectorial indexes were up, closing the session higher. It is clear that low price attraction and dividend news have attracted investors back to the market in the midst of the ongoing coronavirus pandemic as crude oil prices oscillate ahead of Thursday’s meeting of the Organisation of Petroleum Exporting Countries to agree on production cut or not. Already, the global lockdown has affected the demand and consumption of oil with many factories across the world shut down.

Nigeria’s Minister of Finance has hinted on the progressive stimulus package that is currently being considered for the benefit of Nigerians and the economy but is yet to provide details of how over N2tr has been distributed to ‘vulnerable Nigerians’ as part of the administration’s Social Intervention Programme as palliative. On the strength of this, many Nigerians are already worried about how corporate organization and small scale businesses will benefit from the N500bn crisis intervention fund currently being proposed to the National Assembly. And other fiscal measures put in place by the government to ensure that the ripple effects of the global pandemic are curtailed.

There is no doubt that the Nigerian equity market is still suffering from the unfavourable effects of COVID-19, as investors continue to play safe, despite the very attractive equities prices and yields on offer at this time. The truth remains that, many funds are currently trapped by the bear, while few traders with capital are taking advantage of the induced decline in share prices. The most intelligent investment decision is to avoid panic selling at this time.

Midweek’s, trading opened on the exchange in green and was sustained throughout the session as positive sentiment for shares of financial service providers and manufacturing stocks pushed the key performance index to break out the 21,000 psychological level. It touched intraday highs of 21,150.01 basis points, from its low of 20,925.19ps, before finishing the session higher at 21,073.26bps on above-average traded volume.
Wednesday’s market technicals were positive and mixed as volume exchanged were lower than the previous day, as market breadth favored the bulls on mixed sentiment as revealed by Investdata’s Daily Sentiment Report, showing a ‘buy’ volume of 66% and sell position of 34%. This was on a total daily transaction volume index of 0.77, just as momentum behind the day’s performance was seriously weak, despite Money Flow Index moving up to 17.40points, from the previous session’s 9.26ps, indicating that funds entered the market.

Index and Market Caps
At the end of trading, the NSE’s composite All-Share index gained 148.07bps, closing at 21,073.26 after opening at 20,925.19ps, representing a 0.71% up, just as market capitalization rose by N77.17 billion to N10.98tr, from the N10.91tr it opened, also representing a 0.71% appreciation in investor’s portfolio.
If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The midweek rally was impacted by buying interests in medium and large companies stocks like MTNN, Nestle, Guaranty Trust Bank, Zenith Bank, UBA, Lafarge Africa, Stanbic IBTC, Flourmills, Dangote Sugar and Ikeja Hotel that impacted positively on the NSE index, by reducing its Year-To-Date loss to 21.33%. Market capitalization YTD decline stood at N1.88tr, representing a 15.13% drop from the year’s opening value.

Bullish Sector Indices
All the sectorial performance indexes were in the green, except for the NSE Oil/Gas Index that closed 0.55% down, while the NSE Banking index led the advancers after gaining 2.07%, followed by the NSE Consumer Goods, Industrial Goods, and Insurance that closed 0.99%, 0.97% and 0.14% up respectively.

Market breadth remained positive as advancers outnumbered decliners in the ratio of 25:8, just as market transactions in volume and value were down by 75.99% and 6.34% respectively, with investors exchanging 346.41m shares worth N5.22bn as against the previous session’s 1.44m units valued at N5.57bn. Volume was boosted by trades in Guaranty Trust Bank, FBNH, Zenith Bank, Lafarge Africa, and Fidelity Bank.
ETI and Ikeja Hotel were the best-performing stocks for the day, gaining 10% each closing at N4.40 and N0.99 per share on low price attraction. On the flip side, Skypower Aviation and Union Diagnostic lost 10% each, closing at N2.16 and N0.27 per stock, on profit-taking.

Market Outlook
We expect the mixed intraday trend to continue, as short term profit taking from this few sessions of a rally is underway. Just as market players’ take strategic positions ahead of Q1 2020 earnings reports and impacts of the stimulus package on the economy. Also, more companies are notifying the exchange and investors of their virtual annual general meetings and closed period for 2020 first-quarter earnings reports.
However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the selloffs, with investors buying to increase their positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.

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

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

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

https://investdata.com.ng/2020/04/mixed-trading-may-continue-on-ngse-amidst-cautious-trading/#more

Corporate Actions On NGSE As Of April 3, 2020

https://investdata.com.ng/2020/04/corporate-actions-on-ngse-as-of-april-3-2020/#more

Fidelity Bank: Improved Profit, Juicier Dividend, Asset Yield, Risk Management

The management of Fidelity Bank Plc recently submitted its audited financials for the full-year ended December 31, 2019, to the Nigerian Stock Exchange (NSE) earlier than the released date of the 2018 numbers. This early presentation of the result in line with the post-listing requirement of the exchange will help investors plan, given that consistency aids prediction and timing of investments.
Top and bottom-lines improved when compared with those of 2018. Specifically, Gross Earnings climbed 14.02% up from N189.01bn in 2018 to N215.51bn, while Profit rose at a faster 23.99% rate from N22.93bn in 2018 to N28.43bn.
The numbers which ranked Fidelity Bank as the most improved in the period under review were boosted by net interest income and credit writeback, following which Earnings Yield stood at 58.05%, compared to the previous year’s 38.41%.
This was driven by the 30% growth in loan and advances, even as Net Asset for the period improved by 20.37% to N234.03bn implies that Fidelity Bank is able to meet the planned recapitalisation in the banking industry as envisaged by the Central Bank of Nigeria (CBN) in its medium to long-term plan.

The drop in the bank’s Non-Performing Loan ratio to 3.3% from 5.7% in 2018 is a reflection of the improvement in Fidelity Bank’s asset quality and risk management, despite the strong growth in total loan book during the period. This was despite the challenging business environment sign-posted by the low-interest rates in Treasury Bills, the oscillating oil price for the period and other factors.
Earnings per share estimates from the said period resulted in 0.98 kobo, compared to the prior year’s 0.79 kobo, while the fall in its share price during the period has shortened the investment period to 1.72x, which has reduced investors waiting period from 2.60x. The said Earnings yielded 58.05% on the released day. This is above the 38.41% yield estimated in 2018, just as Return on Equity increased from 11.79% in 2018 to 12.15% in 2019. There was also a marginal improvement in Profit Margin of 13.19%, from 12.14% in the previous year.


Fidelity Bank Plc began operations in 1988 as Fidelity Union Merchant Bank Limited. By 1990, it had distinguished itself as the fastest growing merchant bank in the country. However, in 1999, it converted to commercial banking and changed its name to Fidelity Bank Plc and became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services. Fidelity Bank.


Four-Year Performance Analysis
The bank’s gross earnings over this period have grown consistently with an average growth of over 41.77% between 2016 and 2019, from N152.01bn in 2016 to N215.51bn in 2019. The years 2016 and 2017 were the period Nigeria slipped into economic recession and recovery, which impacted the bank’s figures negatively. The high NPL ratio, however, slowed down the dividend payout of 2017 and 2018, before the 20 kobo dividend reported in 2019, representing an 81.81% growth and yield of 11.96% as at released date.
Nevertheless, the noticeable improvement in operations in the 2018 and 2019 financial years was attributed to internal restructuring by the bank as it sought to drive deposit and provide satisfactory service to its customers.
Its profit level since 2016 continues to look up, remaining on the path of strong growth, which has supported the bank’s share price, despite fluctuations due to market dynamics and fundamentals.

Fidelity Bank’s earnings power has maintained an upward movement in the last four years as a result of strong leadership and commitment to deliver value at all levels and time.
Profit for the period rose from N9.73bn in 2016 to N18.86bn in 2017 which was more a 100% increase, a trend that was sustained in the 2018 and 2019 financial years, when climbed first to N22.93bn, from N28.43bn respectively.
Shareholders’ funds for the period maintained an uptrend growth of 26.23%, soaring from N185.4bn in 2016 to N234.03bn in 2019.


Estimated Performance Ratios
The bank’s Earnings Per Share for the period is a reflection of its earnings power, which grew from 34 kobo in 2016 to 98 kobo estimated from 2019 released financials. The said EPS is the same as 1.72x (times) of the market price at released date and yielded 58.05% of the market price from the Price to Earnings ratio of 2.5x in 2016. Its Book Value looks attractive at N8.08 per share, a growth that boosted confidence, while assuring investors of further growth, despite the fluctuation in price and market trend. The growth in EPS was attributed to an increase in Net Fee and Commission Income which, in our view, is the mainstay of the bank’s non-interest income. Key drivers of the improvement in net fees and commission were stronger credit fees and improved ATM and account maintenance charges. We note that the growth in non-interest income was stifled by weaker net FX gains.


Valuation
The Bank 2019 book value per share stands at N8.08 while the Price to Book Value (PBV) is 0.21. On the strength of its Price-Earnings-Ratio of 1.72x, which is relatively low in its sector. The share price of Fidelity Bank is fairly and technically placed at N4.00 per share.


As future earnings of the bank is expected to improve on the heels of its corporate banking business and increased focus on the retail market. The bank’s price action has been trending down, just as it broke down the strong support level at N1.65 trading between the high of N2.40 and low of N1.44 each. Investors are therefore advised to play within the said trading range.
In other words, the position can be taken at this appropriate price support level.
More importantly, Fidelity Bank is good for all investment goals, whether for short or long-term.
We note that this bank survived the meltdown and has consistently paid dividends on positive earnings that have supported its price.

https://investdata.com.ng/2020/04/fidelity-bank-improved-profit-juicier-dividend-asset-yield-risk-management/

Investdata Weekly Sentiment Report as of April 5, 2020

NSEASI buy 31% sell 69% volume index 1.04 MFI 31.43
Access buy 86% sell 14% MFI 32.37
Afrprud buy 0% MFI 46.06
Aiico buy 25% sell 75% volume index 1.04 MFI 71.61
Cadbury buy 67% sell 33% volume index 1.33 MFI 28.56
Caverton buy 0% MFI 59.14
Chams buy 0% MFI 10.08
Cileasing buy 0% volume index 0.90 MFI 43.10
Corner buy 0% volume index 0.87 MFI 39.59
Courtville buy � MFI 19.36
Custodian buy 0% MFI 21.64
Dangcem buy 66% sell 34% volume index 0.98 MFI 62.20
Dangsugar buy 0% MFI 38.01
Eti buy 0% MFI 34.98
Fbnh buy 56% sell 44% volume index 1.11 MFI 30.28
Fcmb buy 43% sell 57% MFI 45.28
Fidelity buy 24% sell 76% volume index 0.98 MFI 43.92
Fidson buy 42% sell 58% volume index 2.27 MFI 23.79
Fmn buy 75% sell 25% MFI 54.79
Glaxo buy � MFI 36.76
GT buy 44% sell 56% volume index 0.78 MFI 18.14
Honyflour buy 0% MFI 46.99
Jaiz buy 0% MFI 50.09
Lasaco buy 0% volume index 0.74 MFI 44.12
Lvstk buy � volume index 0.84 MFI 78.51
Mben buy 0% MFI 65.25
Mtnn buy 20% sell 80% volume index 0.71 MFI 41.39
Nahco buy � MFI 49.34
Nem buy � MFI 65.25
Oando buy 93% sell 7% MFI 24.53
Red buy 24% sell 76% volume index 1.05 MFI 24.81
Stanbic buy 25% sell 75% MFI 20.17
Sterling buy 50% sell 50% volume index 7.99 MFI 28.48
Transcorp buy 40% sell 60% MFI 50.19
Uacn buy 56% sell 44% MFI 61.57
Uba buy 29% sell 71% MFI 34.89
Ucap buy 84% sell 16% MFI 52.70
Unilever buy 9% sell 91% MFI 0.48
Uniondac buy � MFI 2.02
Wapco buy 0% MFI 64.44
Wapic buy � MFI 50.66
Wema buy 20% sell 80% MFI 38.55
Zenith buy 83% sell 17% volume index 1.00 MFI 32.73

https://investdataltd..com/2020/04/investdata-weekly-sentiment-report-as.html

Mixed Trading Lingers, Amidst Continued Lock Down As Investors Expect 2020Q1 Earnings

Market Update for April 1
The bear dominance in Q1 of 2020 was extended to the first trading day of April, which ushered in the second quarter at the midweek, as the Nigerian Stock Exchange’s composite All-Share index closed lower for the third successive session on negative sentiments and selloffs among highly capitalized stocks.

This, nonetheless, created new entry opportunities for buyers, even as the Coronavirus pandemic continues to spread, with the government announcing new cases that bring the total number to 179, with two deaths, while nine have been discharged at the end of Wednesday, April 1, 2020, amidst fears that many more are roaming the streets untested and undetected. The government is, however, enforcing the lockdown in key states of Lagos and Ogun, as well as the Federal Capital Territory, Abuja, while continuing contact tracing.

The pandemic has however left investors across the globe worried over increasing economic impacts of the economic lockdown that may force the world into another round of recession at a time oil is already selling below the Federal Government’s revised benchmark price of $30 per barrel.
The Nigerian equity market has remained under the heavy negative influence of the deadly virus as investors continue to play safe, despite the very attractive stock prices.

The truth, however, is that many funds are currently trapped by the bear, while few traders with trading capital take advantage of the induced drop in stock prices, even as the most discerning investment decision is to avoid panic selling at the current prices.
The power of economic productivity and consumption cannot be overemphasized, along with the importance of international trades at a time when the global lockdown continues to impact crude oil prices. This follows the drastic cut in consumption, pushing the commodity price to an 18-year low, thereby threatening many economies, especially Nigeria that is heavily dependent on oil revenue to run its economy.

Midweek’s trading started on the downside in the morning into the midday before oscillating seriously on selloffs in large companies and position taking in high cap stocks that pushed the NSE’s composite index below 21,000 basis points. The index tested an intraday low of 20,779.13 basis points, from its high of 21,317.98bps, and thereafter closed the day lower at 21,100.54bps on a low traded volume.
Market technicals at the midweek were negative and mixed, as volume traded was lower than the previous day in the midst of negative breadth and mixed sentiment as revealed by Investdata’s Daily Sentiment Report, showing ‘sell’ volume of 40%. ‘Buy” position stood at 60% on a total daily transaction volume index of 0.34, just as the impetus behind the day’s performance was seriously weak, despite Money Flow Index inching up to 16.19 points, from the previous session’s 13.99ps, indicating that funds entered the market and some stocks, despite closing lower.

Index and Market Caps
At the close of trading on Wednesday’s the NSE benchmark Index lost 199.93bps, closing at 21.100.54ps, from its opening figure of 21,300.47ps, which represented a 0.94% decline. Market capitalization shed N104.19bn, closing at N10.996tr from the N11.1tr it opened, which also represented a 0.94% value loss.
If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
Wednesday’s decline was impacted by selloffs and profit-taking in stocks like Dangote Cement, Guaranty Trust Bank, Zenith Bank, Access Bank, UBA, ETI, Dangote Sugar, Flourmills and FBNH which impacted negatively on the NSE index, increasing its Year-To-Date loss to 21.39%. Market capitalization YTD loss stood at N1.96tr, representing a 15.14% decline over the year’s opening value.

Bearish Sector Indices
The sectorial performance indexes were largely bearish except for the NSE Insurance index that closed in the green by 0.08%, while the NSE Industrial Goods led the decliners after losing 2.57%, followed by the NSE Banking and Consumer Goods which closed 1.99% and 1.22% down respectively. While Oil/Gas ended the day flat.

Market breadth turned negative as decliners outnumbered advancers in the ratio of 26:6, just as market transactions in volume and value were mixed with traded volume dropping by 63.38% to 151.55m shares from the previous day’s 328.12m units, while value was up by 2.49% at N1.82bn from the previous day of N1.77bn. This volume was driven by trades in Zenith Bank, GTBank, FBNH, Access Bank and Fidelity Bank.
MTNN and International Brewery were the best-performing stocks for the session, topping the advancers’ table with gains of 9.37% and 9.18% respectively while closing at N98.40 and N5.35 per share on low price attraction and market forces. On the flip side, Unilever and Dangote Cement lost 10% and 9.95% respectively, closing at N9.90 and N116.80 respectively on selloffs.

Market Outlook
We expect mixed intraday performance to continue, as trading sessions in the remaining days of lockdown still dicey, with market players are likely to position ahead of Q1 2020 earnings reports and impact of the stimulus package on the economy in the midst of dividend payment by the companies that postponed their Annual General Meetings and others.

However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the mixed intraday movement in the midst of selloffs, with investors buying increased positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.

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

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

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.

https://investdata.com.ng/2020/04/mixed-trading-lingers-amidst-continued-lock-down-as-investors-expect-2020q1-earnings/#more

Mixed Session Ahead, As Investors Position For 2020Q1 Earnings, Impact Of Stimulus Packages

Market Update for March 30
Panic selling again resurfaced on the Nigerian Stock Exchange on Monday as the key performance indicators closed lower on negative sentiment and low traded volume ahead of the 14-day lockdown of two states of Lagos and Ogun, as well as the Federal Capital Territory, Abuja, as part of measures to check the spread of the Coronavirus (Covid-19).

Monday’s loss wiped out the previous sessions seems gains, amidst weak sentiment and indecision among players, which dampened the day’s performance as investors sold off positions in high cap stocks especially in the banking sector that recorded gains last week. The attempted recovery failed to follow through on the ravaging coronavirus that had upset stock markets and economies across the world.

The loss also occurred on a day new cases of Covid-19 in Nigeria increased to 131, with a second death recorded also on Monday.
The ongoing capital outflow from the emerging and frontier markets is due to the imminent global recession as the benchmark indexes of many stocks markets, are down by over 20% since February. In Nigeria, owing to Monday’s decline, the market has lost 18.6% and 20.5%, Month-to-Date and Year-to-Date respectively.

The market’s outlook remains unstable during this lockdown period and beyond, due to the notably high volatility in developed and developing markets, the seeming positive sentiment on quarter-end window dressing and the bouquet of stimulus packages have been unable to support the market. There is no clear road map for implementing these fiscal and monetary measures and ensuring that it is devoid of the usual bottlenecks, or even ensuring that the stimulus package unveiled by the Central Bank of Nigeria (CBN) gets to the end-users seamlessly.

Meanwhile, Monday’s trading opened on the downside in the morning and was sustained throughout the session as selloffs hit large companies, irrespective of the seeming undervalued prices. This pushed the NSE’s benchmark index to an intraday low of 21,330.79 basis points, from its high of 21,828.65bps, before closing the session lower at 21,330.79bps on a negative breadth.

Monday’s market technicals were negative and mixed, as volume traded was higher than previous day’s in the midst of breadth that favored the bears, and high selling pressure as revealed by Investdata’s Daily Sentiment Report, showing ‘sell’ volume of 100%. ‘Buy” position stood at 0% on a total daily transaction volume index of 1.03, just as momentum behind the day’s performance was seriously weak, despite Money Flow Index inching up to 12.19 points, from the previous session’s 11.88ps, indicating that funds entered the market and some stocks, despite the down market.

Index and Market Caps
At the end of trading on Monday, the NSE’s All-Share Index lost 530.99bps, closing at 21.330.79ps, from its opening figure of 21,861.78ps, which represented a 2.43% decline, just as market capitalization shed N276.73bn, closing at N11.12tr from the N11.39tr it opened, which also represented 2.43% depreciation in value.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The session’s downturn was impacted by selloffs and profit-taking in stocks like MTNN, Guaranty Trust Bank, Zenith Bank, Access Bank, UBA and FBNH which impacted negatively on the NSE index, increasing its Year-To-Date loss to 20.55%. Market capitalization lost YTD stood at N1.82tr, representing a 14.84% decline over the year’s opening value.

Mixed Sector Indices
The sectorial performance indexes were largely bearish except for the NSE Oil/Gas and Industrial goods that closed 1.77% and 0.01% higher, while the NSE Banking led the decliners after losing 3.62%, followed by the NSE Consumer Goods and Insurance which were down by 0.92% and 0.52% respectively.
Market breadth turned negative as decliners outnumbered advancers in the ratio of 15:11, just as market activity in volume and value were mixed as traded volume was up by 85.55% to 466.91m shares from the previous day’s 251.41m units, while value was down by 42.56% to N1.93bn from Friday’s N3.36bn. This volume was driven by trades in Meyer, Champion Breweries, Zenith Bank, UBA and FBNH.
The best-performing stocks for the session were Berger Paints and 11 Plc that chalked the advancers’ table with gains of 9.84% and 9.83% respectively, closing at N6.70 and N160.90 per share on market forces. On the flip side, MTN Nigeria and Wema Bank lost 10% and 9.62% respectively, closing at N90 and N0.47respectively on selloffs and profit-taking.

Market Outlook
We expect mixed intraday performance to continue, as two weeks trading sessions remain unclear till midweek to confirm direction, with market players are likely to position ahead of Q1 2020 earnings reports and impact of the stimulus package on the economy in the midst of dividend payment by the companies that postponed their Annual General Meetings and others.
However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the mixed intraday movement in the midst of selloffs, with investors buying increased positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

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

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.

https://investdata.com.ng/2020/03/mixed-session-ahead-as-investors-position-for-2020q1-earnings-impact-of-stimulus-packages/#more

Corporate Actions On NGSE As Of Tuesday, March 31, 2020

https://investdata.com.ng/2020/04/corporate-actions-on-ngse-as-of-tuesday-march-31-2020/#more

High Dividend Yields Continue To Attract Buying Interests, Amidst Mixed Intraday Trading

Market Update for April 2
Equity prices on the Nigerian Stock Exchange (NSE) pointed higher on Thursday as key performance All-Share index closed marginally up, despite the persistent mixed trend and volatility in this Coronavirus (COVID-19) induced bear market. It, therefore, halted three consecutive sessions of heavy losses.
The dicey situation today has scared away fearful and novice investors from the market, as they sold off their positions at a loss, due to low confidence and weak economic fundamentals, even as the ongoing remote trading has limited participation due to the lockdown aimed at stemming the spread of the virus.

Savvy and investors and traders with large risk appetite have, however, taken this as a window of opportunity to cherry-pick stocks although cautiously at these new low prices.
Also, even if the recent trading sessions have recorded low traded volumes, reflecting the ongoing lockdown in the state, the intervention by the Federal and state governments, as well as the Central Bank of Nigeria (CBN) in the form of economic stimulus packages are yet to start reflecting on the economy.
The seeming rebound in oil prices, as a result of ongoing talks among the US, Russia, and Saudi on the proposed production cut may affect the global economy positively and avert the imminent recession. This, it is believed, will happen, if oil price crosses Nigeria’s new oil benchmark price of $30 per barrel.

We should not forget that the global lockdown will continue to affect oil price until normalcy return to the world and many factories currently shutdown are reopened.
Meanwhile, Thursday’s trading opened on the downside and oscillated seriously throughout the session on selloffs and position taking in the shares of large and medium-scale companies, which pushed the NSE’s composite index to intraday low of 20,790.71 basis points, from its high of 21,170.00bps. It thereafter closed the day higher at 21,121.20bps on a negative breadth.
Market technicals were negative and mixed, with higher volume traded than the previous day, while breadth favoured the bears on improved buying sentiment as revealed by Investdata’s Daily Sentiment Report, showing ‘buy’ volume of 87%. ‘Sell” position stood at 13% on a total daily transaction volume index of 0.57. The energy behind the day’s performance was seriously weak, despite Money Flow Index inching up to 17.64 points, from the previous session’s 16.19ps, indicating that funds entered the market and some stocks.

Index and Market Caps
At the end of the day’s trading, the composite NSEASI gained a marginal 20.66bps, closing at 21.121.20ps, from its opening figure of 21,100.54ps, representing a 0.10% gain, just as market capitalization rose by N10.77bn, closing at N11.01tr from the N10.99tr it opened, which also represented a 0.10% value gain.
If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
Thursday’s upturn was impacted by the buying interest in Dangote Cement, Flour Mills, Wema Bank, Sterling Bank, Access Bank, Cadbury and Livestock Feeds, which impacted mildly on the NSE index, slightly reducing its Year-To-Date loss to 21.31%. Market capitalization YTD loss stood at N1.95tr representing a 15.03% decline over the year’s opening value.

Bearish Sector Indices
The sectorial performance indexes remained largely bearish except for the NSE Industrial Goods index that closed 2.37% higher, while the NSE Banking index led the decliners after shedding 2.19%, followed by the NSE Consumer Goods and Insurance that closed 1.89% and 0.84% down respectively.

Market breadth turned negative as decliners outnumbered advancers in the ratio of 19:7, just as market activity in volume and value terms improved by 65.38% and 62.14% respectively as investors exchanged 255.57m shares worth N2.86bn, from the previous day’s 151.55m units valued at N1.82bn. The day’s volume was boosted by trades in Zenith Bank, Guaranty Trust Bank, FBNH, Transcorp, and UBA.
Dangote Cement and Livestock Feeds were the best-performing stocks, after gaining 9.93% and 9.38% respectively, closing at N128.40 and N0.70 per share on low price attraction and market forces. On the flip side, Nigerian Breweries and Honeywell lost 9.27% and 8.16% respectively, closing at N22.50 and N0.90 respectively on selloffs and profit-taking

Market Outlook
We expect mixed intraday performance to continue, as trading sessions in the remaining days of lockdown are still dicey, with market players likely to position ahead of Q1 2020 earnings reports and impact of the stimulus package on the economy in the midst of more companies notifying the exchange and investing public of its closed period 2020 first-quarter earnings report.
However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the selloffs, with investors buying to increase their positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.

Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.
Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos.

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


https://investdata.com.ng/2020/04/high-dividend-yields-continue-to-attract-buying-interests-amidst-mixed-intraday-trading/#more

Zenith Bank Leads NGSE In High Margin Of Safety, Upside Potential For Investment Goal

The coronavirus global pandemic has virtually killed many stock markets and devastated economies of the world, whether developed or developing.
This covid-19 driven bear market has provided investing and trading opportunities for intelligent investors.
Value investing is as old at the stock market, just as the margin of safety in equity investment helps investors to buy value, while at the same time protecting themselves from their poor judgment and market downturns, a situation when the intrinsic value stock is higher than market price. This is the tenets of value investing, of which capital preservation is the first rule, suggesting that investors should look out for companies with low Price-Earnings and Price-Book ratios.

Here, investors should analyze a company’s financial statement and the accompanying footnotes and identify if there are hidden values or assets with potentials that are unknown to the market, and which when noticed will attract attention.
The simple interpretation of ‘Margin of Safety’ is buying a stock selling at a discounted price, or below its book or intrinsic value. Every investor wants to buy cheap stocks with value and potential to appreciate, or in more practical terms- paying kobo for a Naira value. Traders want to buy low and sell high by speculating, which is part and parcel of every stock market at any given time.
Look at the table above. An analysis of the 10 most capitalized stocks on the Nigerian Stock Exchange reveals the undervalued state of these companies at this time and the fact that they are selling at a discount. They are also backed by strong fundamentals and good prospects, knowing that the present economic situation will not last for too long.

From the above table, Zenith Bank appears to be the cheapest stock, as it offers the highest margin of safety, from its Price to Book ratio of 0.39x and Price to Earnings ratio of 1.78x, which shows that it is that stock with the shortest time within which investors can recoup their investment. This bank is the market’s most profitable, has the largest shareholders’ funds, and recorded the Highest Dividend Yield in the market at 23.62%, while Earnings Yield stood at 56.13% as at close of trading on Friday, March 20, 2020.
Other equities selling at a huge discount to the market price on the table are Seplat Petroleum Development Company and Guaranty Trust Bank with Price to Book positions of 0.59x and 0.79x respectively.
See the above table for more details.

Definitions: D/Yield =Dividend Yield; E/Yield =Earnings Yield; BV= Book Value; P/Book=Price to book; ROE = Return on Equity

https://investdata.com.ng/2020/04/zenith-bank-leads-ngse-in-high-margin-of-safety-upside-potential-for-investment-goal/

Huge Price Decline In March Creates Further “Buy” Opportunity For Investors On NGSE

March Market Roundup And Outlook For April
Equity prices had a free fall for the month of March on the Nigerian Stock Exchange (NSE), reflecting the weak actions and uncertainties across global markets as crude oil prices collapsed helplessly, touching a new 18-year low on March 30. It, however, rebounded on the last day of the month on the news that the US and Russia are discussing the impact of the ravaging Coronavirus pandemic and the global lockdown on the price of crude oil, as it closed $21.67 per barrel.
The Covid-19 storm has wrecked many stock markets and economies the world over quicker than was seen during the global financial crisis of 2008/2009.

The negative sentiment that hit the Nigerian stock market over the last two months of the 2929 first quarter ranged from an adjustment in the Cash Reserve Requirement of banks to 27.5% by the Monetary Policy Committee of the Central Bank of Nigeria (CBN), as well as the weak macroeconomic indices. The impact of these factors was made worse by panic measures that accompanied Covid-19, which has so far recorded over 787,000 cases and 34,000 deaths globally, as factories shut down, among measures to check the spread.
Nigeria has also recorded a daily increase in the number of new cases to 139 and two deaths since February when the index case of the virus was recorded in the country.
Fears arising from the pandemic have seen capital flight from the emerging and frontier markets, due to the imminent global recession, as the benchmark indexes of many stock markets suffered declines of over 20% since February. In the case of the Nigeria Stock Exchange (NSE), its composite All-Share index has suffered a monthly and quarterly decline of 18.75% and 20.65% respectively, confirming the bear-run in the market. The good thing, however, is that has created a “buy” opportunity for discerning and intelligent investors.

The market’s reaction to the seemingly high dividend payout and yield in the midst of mixed earnings reports by most companies that reflects the weak economic fundamentals and realities of the 2019 financial year, being an election year was poor as smart money took to flight due to panic selloffs resulting from the virus-induced bear market. This was reflected in the Money Flow Index that pointed downward throughout the month under review as the NSEASI broke down five psychological lines between 26,000 and 22,000 on continued selloffs.
Besides the low investor confidence, there is also a lack of an economic direction, as investors await the government’s economic policy and the reforms needed to stimulate growth and complement the CBN’s unconventional monetary policies before the deadly virus hit the world and the nation.

The mismatch of policies of the government and its economic managers since Q3 of 2019 has continually weakened the macroeconomic indicators inflation and Purchasing Manager’s Index (PM1) as the February inflation rate rose to its 23-month high of 12.2% from12.13% in January. This was just as the manufacturing sector recorded the slowest expansion in the month of March as Purchasing Managers Index stood at 51.1points, from 58.3 points in February.
The market extended its negative sentiment from February, as the NSE’s composite index fell by 18.75% in March, after 13 sessions of the bear market and nine up sessions. The period witnessed mixed trades and trend despite being the peak month of the earnings reporting season before the deadline was extended by 60 days, due to the effects of Covid-19. The pandemic also resulted in the NSE management activating the first level of its business continuity plan leading to a shutdown of the trading flow, allowing for only remote access to curtail. The bourse has also moved on to the second leg of its business continuity plan by moving essential staff nearby to ensure the market remains open during the period of the lockdown announced by President Muhammadu Buhari on Sunday night (READ MORE).

Within the month under review also, 32 companies released their full-year 2019 audited results, while 20 rewarded their shareholders with offers of dividend payment. Three companies- Vitafoam Nigeria, Zenith Bank, and Guaranty Trust Bank paid their dividend on their stipulated dates, just as Guaranty Trust Bank has become the first company in Nigeria to hold its Annual General Meeting virtually, and paid the dividend accordingly.
The boards of eight companies: United Bank for Africa, United capital, Africa Prudential, Transnational Corporation of Nigeria, African Prudential, Transcorp Hotel, and Morison Industries, however, postponed their AGM and dividend payment to their investors, due to Covid-19 fallout.
On Tuesday, the last trading day of the month, the NSE index closed negative at 21,300.47 basis points.
During the month, the index touched an intra-month peak of 26,626.07 basis points and low of 21,270.26bps, after opening at 26,216.46bps on a huge traded volume, compared to the previous month.

Also, market capitalisation for the period closed at N11.10tr from N13.66tr, representing an 18.74% decline, helped by the listing of additional shares in favour of Golden Guinea Breweries within the month.
Market technicals for the month were negative and mixed, with volume traded higher than that of February in the midst of negative breadth and high selling pressure, as revealed by Investdata’s monthly Sentiment Report, showing sell position of 99% and buy volume at 1%. The monthly total transaction volume index was 1.50, just as momentum behind the market’s performance for the month was weak as shown by the money flow index at 37.71points, from the previous month’s 37.78ps. This is an indication that funds left the market, following the persistent selloff in midst of fewer 2019 earnings reported and fear of Covid 19 impact on the stock market and economy.
Market breadth for the month was negative and weak as decliners outnumbered advancers in the ratio of 57:15. Transaction volume for the period increased by 94.67% at 10.96bn shares, compared to the 5.63bn units that changed hands in February.

Sectoral Performance
All the sectoral indices for the period closed in red, except for the NSE Insurance that rose by 2.67%, while the worst hit was the Consumer Goods index which lost 28.93%.


Best Performing Stock
The panic selloffs amidst the poor reactions to corporate earnings released reflected in the number of stocks that appreciated in value, with the best-performing stocks at over 20% gain for the month being low cap stocks like Union Diagnostic and NPF Microfinance which gained 30% and 21.05% respectively on market forces. They were followed by 11 Plc that gained 20.80% on expectation of 2019 results and dividend; ahead of Eterna’s 20.10% on its low price attractive despite its unimpressive scorecard. See the table below for more.
We advise investors take advantage of the high yields in the market to position in fundamentally sound stocks, ahead of the 2020 first-quarter numbers expected to hit the exchange in April, irrespective of the current happening in the market.


Worst Laggards
Lafarge Africa was the worst laggard, shedding 40.65% in a month when the virus-driven bear market hit the company share price ahead of it full result followed by Zenith Bank’s 36.76% slide on price adjustment for dividend and bearish trend, while Nigerian Breweries lost 36.67% of its opening price during the period.


Technical View
The composite NSEASI in January attempted to break out the downtrend line on a high buying interest but pulled back in February and March on high traded volume and negative sentiments due to noticeable indecision and persistent selloffs among market players. There was also the effect of the prevailing low confidence and liquidity as reflected in the money flow index at 37.71 points, down from 37.78points in the prior month.
Meanwhile, the NSE index continues to trade below all the shortest Moving Average on a monthly time frame, while MACD remains bearish.
With the extended submission of 2019 full year audited financials by two months and expected 2020 first-quarter earnings reports in the new month, as companies had started notifying the exchange of their closed period. Portfolio repositioning and rebalancing among traders and investors are expected but the 14-day lockdown of Lagos State and the ongoing remote trading may affect volume traded and the rate at which investors take advantage of the low prices. Also analyzing the numbers released so far in expectation of 2020Q1 numbers will give an insight into what to expect from the companies in the cause of 2020 and beyond.

Expectations For April/May
The 14-day lockdown is likely to influence the market negatively, knowing that the month of April is an extension of the earnings reporting season due to expected quarterly results now that NSE has given 60 days grace to submit 2019 full-year results. This is why traders and investors should be in the market to benefit from the corporate actions already pouring in.
Know that the earnings season momentum, as well as liquidity, determine market movement/direction, as such, we should expect:
• Macro-economic data to drive investment decisions and know the economic state of the nation.
• Market oscillation due to panic selloffs and position-taking with some corporate results released.
• The gradual inflow of funds into the equity market, as a reaction to low equity prices and low rate in the money market, besides the fluctuations as foreign and institutional investors return or exit the market. This oscillation is expected to create entry and exit opportunities.
• More full-year and quarterly results are expected since the 2019 full-year audited earnings filings are extended. These earnings from blue-chip companies are likely to strengthen fundamentals, depending on the quality and value of their numbers. But due to economic slowdown in Q1 2020, we do not expect much from the quoted companies
• As investors reshuffle their portfolios to move into equities with strong fundamentals, high Dividend Yield, and possible bonus issues, we should expect stock prices to gravitate upward or down, if their numbers beat expectations.
• Expect the current volatility to continue into the last month of 2020Q2, amidst repositioning for Q3, even as we expect confidence and liquidity to improve.
• Market outlook for the month of April and May remains unstable and mixed, but investors should invest wisely, using dates, bids, offers, and volume when taking an investment decision.
• Managing risk and protecting capital at this point is very important, as it will help determine when to buy or sell, by watching the stocks and the market, using technical analysis, aided by investdata buy & sell signal for weekly traders and medium/long term investors.
• Let numbers emanating from companies and the markdown dates guide you into a profitable investment.

https://investdata.com.ng/2020/04/huge-price-decline-in-march-creates-further-buy-opportunity-for-investors-on-ngse/#more

1). Atiku Abubakar N50million
2). Abdulsamad Rabiu- N1Billion
3). Femi Otedola N1Billion
4). Tony 0 Elumelu N1Billion
5). Herbert 0. Wigwe N1Billion
6). Segun Agbaje N1Billion
7). Jim Ovia N1Billion
. Aliko Dangote. N1Billion
9). TuFace Idibia.10 Million
10). Folasade Alakija - N35m (Worth of items).
11). Federal Government N23Billion

Corporate Donations
1). Access Bank 1Billion naira
2).GT Bank 1Billion naira
3).Zenith Banks 1Billion naira

NNPC 11 Billion naira

Yet
No adequate testing facility
No good hospital
No free hand sanitizer
No free face mask

Nothing is being given to the people staying at
home.

DAY 3
With instruction by the federal and state government for residence to stay at home for 14days due to the Covid19 epidemic, all the Lagos government could do on her own part to ease the burden on Lagosians was to distribute a loaf of bread and put a cup worth of rice into a polyethylene bag as relief material to feed an entire household for a whole day. Yet, these so-called relief materials have not gotten to 1% of the populace residing in lagos.

This is pathetic and heartless of our leaders, out of the current situation when the world is safeguarding and looking after the citizenry of their country, all Nigeria government could think of is looting the resources a few good Nigerians have donated to help curb the starvation already raging in our lands. May already help us!

WHAT KIND OF A COUNTRY IS THIS?

WHAT KIND
OF POLITICS DO NIGERIA HAVE?
.
WHAT KIND OF LOOTERS DO NIGERIA HAVE?

© Akan Udofia 2020

Note: The link below shows video the relief sent to a local government ward in Lagos state government.

News

The Federal Government has announced a further reduction in the Premium Motor Spirit (PMS)’s pump price to N123.50 per litre. The Petroleum Products Pricing Regulatory Agency (PPPRA)’s Executive Secretary, Abdulkadir Saidu, said the new price takes effect from today, April 1, 2020. This is the second time the Federal Government would be reducing the pump price of PMS in two weeks. It had announced a reduction in the pump price of PMS on 18th March, 2020 from N145 to N125 following the fall in the price of crude oil in the international market. In a statement in Abuja on Tuesday night, PPPRA’s executive secretary said: “PPPRA, in line with the Government approval for a monthly review of Premium Motor Spirit (PMS) pump price, hereby announces Guiding PMS pump price of N123.50 per Litre. “The Guiding price which becomes effective 1st April 2020, shall apply at all retail outlets nationwide for the month of April, 2020. “PPPRA and other relevant regulatory Agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector. Members of the Public and all Oil Marketing Companies are to be guided accordingly.” Meanwhile, a financial expert and managing director/chief executive officer of Cowry Assets Management, Johnson Chukwu, had called on the federal government to immediately reduce petrol pump price to reflect the current landing cost of about N100 per litre. Chukwu made the call in an exclusive interview with Daily Trust in Lagos while reacting to the Central Bank of Nigeria (CBN) contingency plan to ameliorate the economic impact of the coronavirus pandemic.

Daily trust

MARRIAGE AND THE NIGERIA CULTURE

Marriage within the various tribes in Nigeria has been conceived by our forefathers since the birth of history. The traditional culture has always stood the test of time irrespective of the introduction of modern days practices to Nigerians by the western world for over two decades ago. When it comes to marriage rights, the culture of the land takes the center stage with all the traditional rights and ceremonies conducted as stipulated by the bride's family. Aside from pride, it brings to both families, it also acts as a means or protecting our culture from extinction.

Irrespective of the joy these brings, inter-tribal marriage has not been completing approved by some lineages who see it as defiling the culture of the ancestors of the forefather, to the extend of disowning a child who goes against the will his or her parents. While some culture is allowed to betrothed their daughters into underage marriage without consent to the adverse implications it may have on the child's life. Unfortunately, this is still practiced up until today. And has led to many unhappy marriages and divorced homes in Nigeria.

I could recall sometime in the past, there was a controversy surrounding the marriage of an indigene of Umuduru to an Esan woman from Idua in Edo state. This is may have been a result of a feud between these two tribes or communities. as was narrated by someone from a reliable source but who pleaded anonymous due to security purposes, did emphasis on the cultural history of each town which does not encourage inter-tribal marriages. The family from each lineage insisted that the marriage was forbidden and the couple needs spiritual cleansing to apiece the gods of the land.

In Umuduru community, Isu local government in Imo state, the then chief priest (Anyehe Ngameduru) said it was an abomination for an Isu man to be married to a woman from Esan, such a man will become an outcast and may lose the inheritance of his fathers land, except the Idua woman prepares herself to be circumcised before she can be welcomed into the community as one of their own.

While on the other hand, the Idua community in Esan local government, in Edo state were also demanding the man to be given ritual marks on his body and perform some ceremonious rights before he can be accepted into their family. This became a constant warning from relatives and families, at this time the couple lived in the family house at Benin, but relocated to Auchi where they felt would be home to their children, nonetheless, the belief and difficulty surrounding their family background was becoming a nightmare each passing day.

As if that was not enough, there is also a constant threat from the son of the chief priest in Umundugba by name Anyehe Ngamuduru who is notorious and influential in Imo state. He terrorized the couple and sent thugs to the home as a reminder that being they will not be safe anywhere in Nigeria unless they adhere to the instruction of his father, the chief priest.

The said Anyehe Ngamuduru is named amongst the kidnappers who kidnapped and murdered the Late Edwin Ajaere, the CEO of Good is Good motor in March 2009. Anyehe is at large after he was declared wanted by the anti-robbery unit of the Nigerian police force also tied to other criminal acts carried out by him and his gangs.

The couple could not leave their chance to fate as a result of his past background history but made an effort to retreat abroad for fear of the safety of their lives and that of their children. They have been living abroad ever since.

All Rights Reserved © Akan Udofia 2020

https://akanudofia..com/2020/03/marriage-and-nigeria-culture.html

Marriage within the various tribes in Nigeria has been conceived by our forefathers since the birth of history. The traditional culture has always stood the test of time irrespective of the introduction of modern days practices to Nigerians by the western world for over two decades ago. When it comes to marriage rights, the culture of the land takes the center stage with all the traditional rights and ceremonies conducted as stipulated by the bride's family. Aside from pride, it brings to both families, it also acts as a means or protecting our culture from extinction.

Irrespective of the joy these brings, inter-tribal marriage has not been completing approved by some lineages who see it as defiling the culture of the ancestors of the forefather, to the extend of disowning a child who goes against the will his or her parents. While some culture is allowed to betrothed their daughters into underage marriage without consent to the adverse implications it may have on the child's life. Unfortunately, this is still practiced up until today. And has led to many unhappy marriages and divorced homes in Nigeria.

I could recall sometime in the past, there was a controversy surrounding the marriage of an indigene of Umuduru to an Esan woman from Idua in Edo state. This is may have been a result of a feud between these two tribes or communities. as was narrated by someone from a reliable source but who pleaded anonymous due to security purposes, did emphasis on the cultural history of each town which does not encourage inter-tribal marriages. The family from each lineage insisted that the marriage was forbidden and the couple needs spiritual cleansing to apiece the gods of the land.

In Umuduru community, Isu local government in Imo state, the then chief priest (Anyehe Ngameduru) said it was an abomination for an Isu man to be married to a woman from Esan, such a man will become an outcast and may lose the inheritance of his fathers land, except the Idua woman prepares herself to be circumcised before she can be welcomed into the community as one of their own.

While on the other hand, the Idua community in Esan local government, in Edo state were also demanding the man to be given ritual marks on his body and perform some ceremonious rights before he can be accepted into their family. This became a constant warning from relatives and families, at this time the couple lived in the family house at Benin, but relocated to Auchi where they felt would be home to their children, nonetheless, the belief and difficulty surrounding their family background was becoming a nightmare each passing day.

As if that was not enough, there is also a constant threat from the son of the chief priest in Umundugba by name Anyehe Ngamuduru who is notorious and influential in Imo state. He terrorized the couple and sent thugs to the home as a reminder that being they will not be safe anywhere in Nigeria unless they adhere to the instruction of his father, the chief priest.

The said Anyehe Ngamuduru is named amongst the kidnappers who kidnapped and murdered the Late Edwin Ajaere, the CEO of Good is Good motor in March 2009. Anyehe is at large after he was declared wanted by the anti-robbery unit of the Nigerian police force also tied to other criminal acts carried out by him and his gangs.

The couple could not leave their chance to fate as a result of his past background history but made an effort to retreat abroad for fear of the safety of their lives and that of their children. They have been living abroad ever since.

All Rights Reserved © Akan Udofia 2020

https://akanudofia..com/2020/03/marriage-and-nigeria-culture.html

For Value-Investors, Covid-19 Unleashes New Season Of Wealth Creation, Transfer On NGSE

The global pandemic, Coronavirus now popularly referred to as Covid-19, has virtually afflicted many stock markets and devastated economies across the globe, whether developed or developing.
However, this Covid-19 driven bear market has provided new opportunities for value investing among intelligent investors, which is as old as the stock market. Value investors look for juicy margins of safety in equity investment as a result of which they seek to buy value, while at the same time protecting their capital by avoiding poor decisions and market downturns. In summary, this is a situation when a stock is worth much more than its market value.

Before the onset of this ravaging virus, the global markets carried a positive momentum into the New Year, amidst trade tensions between the world’s two largest economies- the U.S and China, a situation that had dominated market trends for most of 2019, and eased, following the signing of phase one trade deal by both parties.
This was, nonetheless, short-lived following the spread of the Coronavirus from Wuhan in China to other countries beginning from the middle of January that saw markets tumbling, eroding early gains made earlier.
The commodities’ market was not left out, with the price of crude oil falling sharply and remaining depressed at around $26.35 per barrel on the expectation of lower demand after factories in China, the largest consumer began to shut down as a result of the ensuing lockdown. Also, the infectious disease gave way to concerns amongst global investors as appetite for risk declined, while they sought safe havens in instruments like government bonds.

The last week of February 2020 happened to coincide with one of the worst bear markets in stocks as shareholders worldwide lost an estimated US$6tr in market capitalization between just February 24 and 28, 2020, according to reports.
With the economic impact of the Coronavirus rising, global and country growth forecasts are being revised downwards with little optimism, given the shutdown of manufacturing factories and disruption in trade-flows around the world. Investors and businesses are urging policymakers to introduce or increase stimulus packages in the form of palliative measures to cushion the financial impact of the pandemic on businesses and households.
Uncertainties remain in the global economy even though market indexes’ showed a little recovery from last week, as investors see opportunities for long-term positioning on the expectation of positive market turnaround. This optimism is seen against the backdrop of a possible containment of Covid-19 to a large extent across the globe soon, followed by the resumption of full-scale economic activities, supported by fiscal stimulus and continued implementation of trade talks between the US and China.

Wealth Creation
Wealth creation through the stock market is more of an art, rather than a science. Anybody can create wealth by intelligently investing in equities through seeking to buy value at some discount that represents a high margin of safety that lowers your investment risk, despite the high risk associated with stock market investing.
In our drive to make money, many of us try to exchange time with money, forgetting that we only have a limited amount of time to generate wealth by investing our hard-earned income so as to attain our short-term goals. In the process, we often forget about long-term wealth creation investing, as Warren Buffet rightly said:” if you don’t find a way to make money while you sleep, you will work until you die”.
Back home, the Nigerian Stock market, has over the years, created wealth for discerning investors who understand the dynamics of the equity market and its mantra of “buy low and sell high.”

It is obvious that before the ongoing global pandemic induced bear market, the Nigerian stock market had suffered many setbacks, at the least, since early last year, owing to factors such as uncertainties related to the 2019 general elections, especially the Presidential poll. Others included policy summersaults on the part of government, regulators, the lack of depth in the nation’s equity market, poor corporate governance, the urgent need for investor education, and low confidence level.
The Nigerian Stock Exchange’s All-Share index, which gives a general overview of the market performance, has so far taken a deep-dive, falling by 18.55% year-to-date, while market capitalization has lost almost 12.12%, closing at N11.39tr on March 27, 2020.
To put it in context, these economic indicators mirror business activities and company performances in the country.

Correspondingly, when the performance of the stock market is weak or poor, it means investors are losing value as the worth of quoted companies contract, given that the performance of any stock market is determined largely by the well-being of its quoted companies which are generally affected by cycles or disruptions in the economy.
Today, most companies whether global or domestic, are already feeling the impact of the coronavirus outbreak and this is one of the reasons for the decline in oil prices and stock market performance.

However, creation or transfer of wealth occurs at a time like this when the composite NSEASI is at its 11-year low, indicating that prices of most listed companies are coming cheap for wise investors to latch onto. This is considering that the Covid-19 driven down-market is a first of its kind and way different from the 2008/2009 global financial meltdown. It is, therefore, heartwarming that so much intervention is being packaged by the public and private sectors, in addition to measures already announced by central banks to curtail the spread and cushion the effect of the pandemic on the economy and some sector that are more exposed to the risk of the virus than others.

Other Factors
We recall that there are other factors that impacted the nation’s financial market, long before the onset of the outbreak, particularly the Central Bank of Nigeria (CBN) directive restricting domestic investors (whether institutional or retail) from participating in its Open Market Operations (OMO), in the fixed income market.
This led to the subsequent crash in rates across fixed income instruments leading to the continuous drop in treasury bills, with the 91-day, 182-day and 364-day rates tanking to as low as 2.49%, 3.78%, and 5.3% respectively. Similarly, bond rates have fallen as of the last Federal Government Bond auction which settled at 9.85%, 11.125% and 12.56% for the five-year, 10-year, and 30-year maturities respectively, thus limiting investors’ investable options for short-dated instruments.

With Nigeria’s inflation rate currently above returns on investment, investors are earning negative real returns on their fixed-income investments.
Following the developments in the fixed income market in Q4 2019, the equities market got a boost from the situation as investors diverted their funds to the stock market in search of higher yields.
Consequently, the Nigerian bourse witnessed positive price movements leading to a bull-run throughout January 2020, after which it closed with a 7.46% month-on-month growth in the All-Share Index, while market capitalisation recorded 10.38% return.
The tea-party could not be sustained, in the month of February as sell-off began, with investors harvesting profits on positions held since 2019 through January 2020. There was also investor reactions to the CBN’s decision to adjust Cash Reserve Requirement (CRR) at its January meeting of its Monetary Policy Committee (MPC), which investors were still grappling with before the market was further hit by Covid-19 impact, pushing the year-to-date loss to 18.55% as mentioned earlier.

Valuations have become cheap with average Price Earnings Ratio of the Nigerian stock market at around 6.12x, well below its peers in frontier and emerging markets which shows that Nigerian stocks are trading at a great discount. We expect policy changes in the fixed income market, particularly the FGN bonds, given the government’s shaky revenue profile due to the low oil price that has forced a N1.5tr cut in the 2020 capital spending plan.
This may, however, offer some respite to the equities market prompting a stable rally from the over N2tr maturing fixed-income investments in 2020, as investors look for an asset class capable of offering a positive real rate of return to deploy their funds into. Only the stock market can offer such positive real returns desired by investors, and we expect to see long-term bargain hunters taking opportunities of high yields and low valuation.
We advise investors to start accumulating on fundamentally strong stocks whose valuations have fallen so cheap and hold in anticipation of a market recovery in the long term as the Nigerian market remains one of the most attractive in emerging markets.

KEY TAKEAWAYS
• Stock prices to oscillate in Q2 on fear of panic selling and the challenging economic situation.
• NSE-listed companies will see no earnings growth in 2020.
• Investdata expects the NSE’s benchmark index to slide farther down, but recover by year-end.
• We recommend that investors should look the way of defensive stocks and sectors that will be favoured by the CBN interventions.

For information about quality stocks to invest in and make more than 40% return in 364 days, contact:

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

https://investdata.com.ng/2020/03/for-value-investors-covid-19-unleashes-new-season-of-wealth-creation-transfer-on-ngse/#more

Mixed Sentiments Ahead On NGSE, As Investors Review Devts Around Covid 19 Pandemic

Market Update for the Week Ended March 27 and Outlook for March 30-Apr 3
The mixed trading pattern and performance continued for the second week on the Nigerian Stock Exchange (NSE) with the benchmark All-Share index extending to the third successive week of decline on low transaction volume. This is happening amidst mixed sentiments as the number of Covid-19 cases in Nigeria rose to 81 by Saturday morning, while the global figure is around 23,000 deaths from 540,000 cases, making it a real threat to the already quaking global and domestic economies.
Already, many central banks and governments are rolling out economic stimulus packages and measures to curtail the outbreak and mitigate the impacts of the virus on corporate organizations, businesses, and households.

The mixed macroeconomic indices emanating from National Bureau of Statistics and Central Bank of Nigeria are clear indications of an already challenging economy, with inflation rate already hitting a 22-month high of 12.2%, while the Purchasing Manager Index (PMI)for the month of March was at its lowest level of 31.1 points, from 58.3 points in the previous month. For fear that the virus may trigger a major economic crisis, the CBN’s Monetary Policy Committee (MPC), at its meeting on Monday and Tuesday, took note of the continued rise in domestic prices; the glut in oil supplies and low oil prices, in the wake of the global pandemic. Members also reviewed the exchange rate pressure and other domestic monetary and fiscal responses as they affect the evolving crisis. In view of these, the committee members unanimously voted to retain the Monetary Policy Rate (MPR) at 13.5%, while holding all other policy parameters constant.

Investdata notes that the recent technical devaluation of the Naira, the lingering border closure and the impact of the global pandemic has reduced cross-border trading resulting in inflationary pressure on everything. This might lead to hyperinflation, meaning the temptation to hold cash, for anybody, is the worst for now.
The early evidence includes the low money market rates and declining yield in the fixed income market, just as the fear of the government’s ability to redeem its bonds at maturity, especially given the shaky revenue profile already noticed. The first place you look to preserve buying power is in stocks as a way of hedging against inflation.
The Minister for Finance, on Friday, re-echoed our position as she warned that Nigeria might go into another recession, should the Covid-19 pandemic continue beyond the next six months as government revenue is already struggling, especially as oil is selling below its new benchmark of $30 per barrel already.

We recall that in 2016 when the nation’s economy slipped into recession after 28 years, crude oil was selling for as low as between $23 and $26 per barrel. This low revenue and high debt profile is a threat to the fixed income market, especially FGN bonds.
Given the current market dynamics, Investdata believes that it will make more sense looking the way of valued stocks, all of which are now selling at discount to the book value. Should the virus hit the economy harder, throwing it into yet another recession, the government will begin to default on its debts, which is a more likely today, given the huge cost of debt servicing at about 50% of its earnings as of last year, unless some debt relief or moratorium by its creditors. It is clear that investors are more worried about the immediate economic impact than they are about fiscal mismanagement by Nigeria’s political leaders.

Movement Of NSEASI
The composite NSEASI, during the week under review, had a mixed trend of three trading sessions of marginally up, and two days of down market, closing the period lower, despite the seeming positive sentiments and breadth, as bargain hunting slowed down selloffs in different sectors.
Trading for the week started on a negative note, with the index losing all of 2.24%, followed b Tuesday’s mild recovery as the index gained 0.19%, which was halted at the midweek when the market fell marginally by 0.05%. This was not sustained on Thursday, as the NSE wiped off the previous day’s loss with its 0.13% gain on increase buying interests in financial service stocks which were sustained on Friday when the index chalked 0.48%, reducing the week’s loss to 1.52%, as against the previous week’s 2.35% decline.

Consequently, the All-Share Index lost 336.65basis points, after opening at 22,198.48bps, touching an intra-week low of 21,663.32bps from its high of 22,208.81bps on mixed sentiments, low traded volume on indecision among traders. The index closed the week at 21,861.78ps, after breaking down the 22,000 psychological line on a lower traded volume, when compared to the previous week. Market capitalization dropped by N174.82bn, closing at N11.39tr, from the opening value of N11.57tr, representing a 1.51 % value loss in a week when additional shares of Golden Guinea Breweries were listed. This was just as eTranzact announced a rights issue for N7bn from existing shareholders.
Last week also, trading was fully from remote platforms, as part of measures to curtail the spread of the deadly Coronavirus by the NSE management, just as few companies released their 2019 audited results with dividend announcements. The exchange equally announced an extension of the submission deadline for the 2019 audited financials by two months.

It was a mixed trading and bargain hunting as kobo stocks dominated the week’s advancers table, amidst the seeming improvements in buying interests in value stocks selling below their intrinsic worth during the period. This reflected in the market breadth as advancers outnumbered decliners in the ratio of 34:30, even as the impetus behind the week’s performance was weak, with Money Flow Index slipping to 32.34bps, compared to the 37.57bps of the previous week.
Transaction volume was low, indicating the wait-and-see attitude of market players, while discerning investors took advantage of the low prices in the midst of panic selling and confusion to reposition their portfolios, as earnings reporting season has been extended to May. The mixed sentiment during the period was confirmed by Investdata’s Sentiment Report for the week showing 36% ‘buy’ volume, and 64% ‘sell’ position, on a transaction volume index of 0.96.

Mixed Sectoral Indices
The sectoral indexes for the week were largely bearish, except for the NSE Insurance and Banking indexes which closed higher by 3.25% and 2.06% respectively, while the NSE Consumer Goods led the decliners after shedding 8.05%, followed by the NSE Oil/Gas and Industrial Goods that dropped by 2.21% and 0.52% respectively.

Market activities in terms of volume and value for the week, were down by 48.21% and 54.18% respectively, as investors traded 1.45bn shares worth N14.92bn, as against the previous week’s 2.8bn units valued at N32.56bn. Volume for the week was driven by trades in financial services stocks, especially Zenith Bank, Guaranty Trust Bank, and FBNH.
Wapic Insurance and Cutix were the best-performing stocks for the week, as they topped the advancers chart, after gaining 23.81% and 20.69% respectively, closing at N0.26 and N1.40 per share on market forces and sentiments. On the flip side, Nigerian Breweries and Africa Prudential lost 15% and 11.17% respectively, closing at N25.50 and N3.42 per share on panic selloffs.

Market Outlook
We expect the mixed performance to continue depending on developments around the Covid 19 pandemic in the new week and implementation of the government’s economic stimulus packages to mitigate the effects of the virus. Already, we note that the manufacturing sector, among others in the economy, is already depressed by happening in the economy.

Also, don’t forget to play defensive stocks among the many fundamentally sound companies that 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.
This is just as more liquidity flow to high Dividend Yield stocks with sound fundamentals, a situation that will also be based on the seemingly positive outlook for the domestic economy, despite the mixed outlook for 2020 from various analysts.
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.

We should, however, not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With a dividend yield of major blue-chips continuing to look attractive in recent weeks, we expect speculative trading to shape the market’s direction, despite the seeming mixed outlook.
Again, the current undervalued state of the market offers investors opportunities to position for the short to long-term, which is why investors should target fundamentally sound and dividend-paying stocks for possible capital appreciation in the New Year. This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Opportunities & Trade Ideas Summit.

https://investdata.com.ng/2020/03/mixed-sentiments-ahead-on-ngse-as-investors-review-devts-around-covid-19-pandemic/#more

Corporate Actions On NGSE As Of Friday, March 27, 2020

https://investdata.com.ng/2020/03/corporate-actions-on-ngse-as-of-friday-march-27-2020/#more

Mixed Session Still On NGSE, As Investors Grapple With Realities Of Remote Trading

Market Update for March 26
Volatility and mixed trading continued Thursday on the Nigerian Stock Exchange as the benchmark index closed marginally higher, halting the previous session’s loss on low volume traded that reflected the level of indecision among traders. There is also the effects of the remote trading, following the closure of the trading floor as a safety measure in the wake of the ravaging Coronavirus pandemic that has made governments shut down non-essential services across the globe. Many stockbroking firms and their clients, especially those that have not perfected the act of remote trading, are struggling to execute trades from remote platforms, due to either inefficiency of their platforms, or a failure to give real online trading education to their clients before now.

The number of Coronavirus cases in Nigeria has increased to 65, with the world recording slightly above 500,000 cases and over 22,000 deaths to the virus that has so far devastated economies and markets, putting the globe on panic mode.
Bargain hunting in many markets across the world have been due to low valuation and expected impact of stimulus packages from central banks and governments to cushion the effects of the virus on businesses and individuals, like factories, airports, schools, and churches remain shutdown to curtail the spread of the deadly disease.

In the same way, the buying interest in Nigeria’s financial services stocks has resulted from low price attractions and high dividend payouts and yields among the banks, the recapitalization of insurance companies and the intrinsic value in some of the insurance stocks. The current prices provide ‘buy’ opportunities for short, medium and long-term investors who understand the power of timing in equity investment.
Meanwhile, Thursday’s trading started on the upside at the opening bell which was sustained midday before oscillating in the early afternoon on selloffs in large companies. Irrespective of the sell-down, the NSE index hit an intraday high of 21,903.00 basis points, from its low of 21,696.88bps, before closing the day higher at 21,757.47bps on positive breadth.

Market technicals for the session were positive and mixed, as volume traded was lower than previous day’s with breadth favoring the bulls, amidst a high selling pressure as revealed by Investdata’s Daily Sentiment Report, showing ‘sell’ volume of 71%. ‘Buy” position stood at 29% on a total daily transaction volume index of 0.39, just as the impetus behind the day’s performance was seriously weak, despite Money Flow Index inching up to 8.91 points, from the previous session’s 6.65bps, indicating that funds entered the market and some stocks.

Index and Market Caps
At the close of trading on Thursday, the composite NSE All-Share Index gained 27.99bps, closing at 21.757.47ps, from its opening figure of 21,729.48ps, which represented a 0.13% rise, just as market capitalization gained N15.2bn, closing at N11.34tr from the N11.32tr it opened, which also represented 0.13% appreciation in value. BOC Gases and Sterling Bank announced dividends per share of 30 kobo and five kobo respectively.
Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The day’s upturn was impacted by bargain hunting in stocks like Guaranty Trust Bank, Zenith Bank, Access Bank, UBA, UBN, ETI, and Honeywell, which impacted mildly on the NSE index, reducing its Year-To-Date loss to 18.94. Market capitalization loss YTD stood at N1.62tr, representing a 12.58% decline over the year’s opening value.

Mixed Sector Indices
The sectorial performance indexes were largely bearish except for the NSE Banking and Insurance that closed 5.99% and 1.89% higher, while the NSE Consumer Goods led the decliners after losing 4.64%, followed by the NSE Oil/Gas and Industrial goods which were down by 0.21% and 0.16% respectively.

Market breadth remained positive as advancers outnumbered decliners in the ratio of 24:8, just as market transactions in volume and value terms were down by 26.26% and 15.72% respectively after investors exchanged 172.16m shares worth N1.89bn from the previous day’s 233.47m units valued at N2.24bn. Volume was driven by trades in Zenith Bank, UBA, Stanbic IBTC, FCMB, and Access Bank.
Morison Industries and UBN were the best-performing stocks for the session, topping the advancers table with their gain of 10% each, closing at N0.55 and N6.56 per share on market forces. On the flip side, Nestle Nigeria and GSK lost 10% and 7.89% respectively, closing at N765.00 and N3.50 respectively on selloffs.

Market Outlook
We expect mixed performance to continue, being the last trading day of the week as market players cash in on low prices to position ahead of the expected impact of the stimulus package on the economy in the midst of dividend payment by the companies that postponed their Annual General Meetings. However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the mixed intraday movement in the midst of selloffs, with investors buying increased positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.

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

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

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

https://investdata.com.ng/2020/03/mixed-session-still-on-ngse-as-investors-grapple-with-realities-of-remote-trading/#more

Fund, Portfolio Managers To Submit Quarterly, Annual Reports- Draft SEC Rule

Nigeria’s Securities & Exchange Commission (SEC), last week published an exposure draft of its proposed rule on regulation of fund management products, which among others, seeks to plug loopholes in the regulation of that segment of the financial services sector.
According to the exposure draft and subject to final approval, among others, “every fund/portfolio manager shall submit quarterly returns and annual reports in respect of such product, discretionary or non-discretionary portfolio/fund, in a form as determined by the commission.”

The proposed rule and regulation, according to the commission is in line with its powers under Section 13(a) of the Investment and Securities Act 2007, which empowers the commission to regulate investments and securities business in Nigeria as defined in the Act.
The Rule, it explained “has become essential to actively monitor the operation of CMO (Capital Market Operators) products including discretionary and non-discretionary funds/portfolios”

This has also become expedient, the commission noted, given that these funds continue to account “for approximately twice the size of CIS (Collective Investment Schemes or Mutual) funds in the investment management sector.”
Furthermore, it said its “inspection of CMO operations have revealed that some of these products mimic the CIS structure (even when they) are erroneously classified as private in-house funds.”

When approved, the rule forbids individuals or entities not registered as fund, or fund managers from operating “any product that pools investors’ monies, including discretionary or non-discretionary portfolios/funds.
Such fund or portfolio manager shall not also “develop and operate any product, discretionary or nondiscretionary portfolio/fund without the Commission’s prior approval or ‘no objection;” just as they are not allowed to advertise, market or attract investors to the existence of such, other than registered collective investment schemes.

The commission proposes that persons or entities that contravenes the rule shall be liable to a penalty of not less than ₦500,000 and another N10,000 for every day the violation continues in respect of each product, discretionary or non-discretionary fund/portfolio under management. The person or entity may also be liable to suspension of registration; withdrawal of registration; disgorgement of proceeds/income from the product, discretionary or nondiscretionary portfolio/fund; and any other sanction the commission deems necessary in the circumstance.

https://investdata.com.ng/2020/03/fund-portfolio-managers-to-submit-quarterly-annual-reports-draft-sec-rule/#more

Mixed Session Ahead, As Investors Position For 2020Q1 Earnings, Impact Of Stimulus Packages

Market Update for March 30
Panic selling again resurfaced on the Nigerian Stock Exchange on Monday as the key performance indicators closed lower on negative sentiment and low traded volume ahead of the 14-day lockdown of two states of Lagos and Ogun, as well as the Federal Capital Territory, Abuja, as part of measures to check the spread of the Coronavirus (Covid-19).
Monday’s loss wiped out the previous sessions seems gains, amidst weak sentiment and indecision among players, which dampened the day’s performance as investors sold off positions in high cap stocks especially in the banking sector that recorded gains last week. The attempted recovery failed to follow through on the ravaging coronavirus that had upset stock markets and economies across the world.

The loss also occurred on a day new cases of Covid-19 in Nigeria increased to 131, with a second death recorded also on Monday.
The ongoing capital outflow from the emerging and frontier markets is due to the imminent global recession as the benchmark indexes of many stocks markets, are down by over 20% since February. In Nigeria, owing to Monday’s decline, the market has lost 18.6% and 20.5%, Month-to-Date and Year-to-Date respectively.

The market’s outlook remains unstable during this lockdown period and beyond, due to the notably high volatility in developed and developing markets, the seeming positive sentiment on quarter-end window dressing and the bouquet of stimulus packages have been unable to support the market. There is no clear road map for implementing these fiscal and monetary measures and ensuring that it is devoid of the usual bottlenecks, or even ensuring that the stimulus package unveiled by the Central Bank of Nigeria (CBN) gets to the end-users seamlessly.
Meanwhile, Monday’s trading opened on the downside in the morning and was sustained throughout the session as selloffs hit large companies, irrespective of the seeming undervalued prices. This pushed the NSE’s benchmark index to an intraday low of 21,330.79 basis points, from its high of 21,828.65bps, before closing the session lower at 21,330.79bps on a negative breadth.

Monday’s market technicals were negative and mixed, as volume traded was higher than previous day’s in the midst of breadth that favoured the bears, and high selling pressure as revealed by Investdata’s Daily Sentiment Report, showing ‘sell’ volume of 100%. ‘Buy” position stood at 0% on a total daily transaction volume index of 1.03, just as momentum behind the day’s performance was seriously weak, despite Money Flow Index inching up to 12.19 points, from the previous session’s 11.88ps, indicating that funds entered the market and some stocks, despite the down market.

Index and Market Caps
At the end of trading on Monday, the NSE’s All-Share Index lost 530.99bps, closing at 21.330.79ps, from its opening figure of 21,861.78ps, which represented a 2.43% decline, just as market capitalization shed N276.73bn, closing at N11.12tr from the N11.39tr it opened, which also represented 2.43% depreciation in value.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
The session’s downturn was impacted by selloffs and profit-taking in stocks like MTNN, Guaranty Trust Bank, Zenith Bank, Access Bank, UBA and FBNH which impacted negatively on the NSE index, increasing its Year-To-Date loss to 20.55%. Market capitalization lost YTD stood at N1.82tr, representing a 14.84% decline over the year’s opening value.

Mixed Sector Indices
The sectorial performance indexes were largely bearish except for the NSE Oil/Gas and Industrial goods that closed 1.77% and 0.01% higher, while the NSE Banking led the decliners after losing 3.62%, followed by the NSE Consumer Goods and Insurance which were down by 0.92% and 0.52% respectively.
Market breadth turned negative as decliners outnumbered advancers in the ratio of 15:11, just as market activity in volume and value were mixed as traded volume was up by 85.55% to 466.91m shares from the previous day’s 251.41m units, while value was down by 42.56% to N1.93bn from Friday’s N3.36bn. This volume was driven by trades in Meyer, Champion Breweries, Zenith Bank, UBA and FBNH.
The best-performing stocks for the session were Berger Paints and 11 Plc that chalked the advancers’ table with gains of 9.84% and 9.83% respectively, closing at N6.70 and N160.90 per share on market forces. On the flip side, MTN Nigeria and Wema Bank lost 10% and 9.62% respectively, closing at N90 and N0.47respectively on selloffs and profit-taking.

Market Outlook
We expect mixed intraday performance to continue, as two weeks trading sessions remain unclear till midweek to confirm direction, with market players are likely to position ahead of Q1 2020 earnings reports and impact of the stimulus package on the economy in the midst of dividend payment by the companies that postponed their Annual General Meetings and others.

However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the mixed intraday movement in the midst of selloffs, with investors buying increased positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.
Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

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

https://investdata.com.ng/2020/03/mixed-session-ahead-as-investors-position-for-2020q1-earnings-impact-of-stimulus-packages/#more

Investdata Weekly Sentiment Report for week ended 29th March, 2020

NSEASI buy 36% sell 64% volume index 0.97 MFI 32.34
Access buy � volume index 0.90 MFI 36.86
Afrprud buy 20% sell 80% volume index 0.89 MFI 47.06
Aiico buy � MFI 71.84
Cadbury buy � volume index 3.25 MFI 23.74
Cap buy � MFI 28.40
Caverton buy 0% MFI 60.32
Chams buy � volume index 1.10 MFI 10.67
Chiplc buy � volume index 0.89 MFI 12.64
Cileasing buy 0% volume index 1.15 MFI 47.48
Conoil buy 0% volume index 1.63 MFI 30.46
Courtville buy � MFI 19.28
Custodian buy � MFI 22.77
Cutix buy � MFI 65.81
Dangflour buy 0% MFI 90.61
Dangsugar buy 0% MFI 35.25
Eti buy 42% sell 58% volume index 0.94 MFI 34.98
Fbnh buy 60% sell 40% volume index 1.15 MFI 31.04
Fcmb buy 63% sell 37% volume index 1.21 MFI 46.69
Fidelity buy 83% sell 17% volume index 1.28 MFI 45.12
Fidson buy 86% sell 14% volume index 3.70 MFI 15.70
Fmn buy � MFI 56.16
Glaxo buy 70% sell 30% volume index 1.68 MFI 34.47
GT buy 63% sell 37% volume index 1.47 MFI 18.50
Honyflour buy � MFI 46.44
Lasaco buy � volume index 0.99 MFI 42.21
Lawunion buy � MFI 41.97
Linkass buy 0% volume index 1.70 MFI 11.75
Lvstk buy 25% sell 75% MFI 77.26
M&B buy � volume index 1.25 MFI 36.01
Mtnn buy 0% MFI 42.26
Nahco buy � MFI 48.57
Nascon buy 0% volume index 2.90 MFI 49.04
Neimeth buy � MFI 27.14
Nem buy � volume index 6.15 MFI 67.66
Nestle buy 0% volume index 1.72 MFI 5.49
Npf buy � volume index 0.97 MFI 36.41
Oando buy 24% sell 76% volume index 1.01 MFI 26.41
Prestige buy � MFI 62.96
Pz buy � MFI 42.67
Red buy 0% volume index 7.58 MFI 25.65
Royalex buy 0% MFI 39.52
Stanbic buy 31% sell 69% volume index 1.67 MFI 21.58
Sterling buy � volume index 1.34 MFI 45.63
Total buy 0% volume index 1.63 MFI 18.70
Transcorp buy � volume index 0.72 MFI 49.52
Uacp buy � MFI 58.85
Uacn buy � MFI 62.19
Uba buy � volume index 0.86 MFI 35.27
Ubn buy � volume index 0.87 MFI 62.67
Ucap buy � volume index 0.71 MFI 54.13
Uniondac buy � MFI 0.94
Vitafoam buy � MFI 57.53
Wapco buy 60% sell 40% volume index 1.36 MFI 65.49
Wapic buy � MFI 51.29
Wema buy � MFI 38.50
Zenith buy 90% sell 10% volume index 1.35 MFI 33.65

https://investdataltd..com/2020/03/investdata-weekly-sentiment-report-for.html

Investors Cash In On Low Price Attractions, Position Ahead Expected Impact Of Stimulus Packages

Market Update for March 25
The power and role of technology in driving online stock trading was fully demonstrated at the midweek’s trading session with the Nigerian Stock Exchange (NSE) commenced remote trading as a measure to curtail the spread of the ravaging Coronavirus that is killing more stock markets and economies than people.
The composite All-Share index closed lower on a volatile and mixed trading, halting the previous day’s gain on positive market breadth and lower traded volume.

It is expected that, at this challenging period for the economy, the government and her economic managers would step up implementation of policies and measures already identified among those that can counter the effects of the pandemic. The news of stimulus packages and expected implementation in other nations of the world have started reflecting on their stock markets which just suffered huge losses as it rebounded with big gains in recent days trading. The leadership of the National Assembly met with key Ministers and officials of revenue generating agencies, as well as the governor, Central Bank of Nigeria (CBN), to fashion a more realistic 2020 budget in the light of global realities and international oil price that has fallen below the $57 per barrel benchmark. The Federal Government had earlier cut the benchmark price to $30 per barrel, reducing its spending plan by N1.5tr, while revenue target for the Nigerian Customs Service by 37% from N1.5tr to N943bn, among others (READ MORE).
The seemingly improved buying interest in financial services stocks, consumer and industrial goods failed to push the market up as selloffs in large company shares dragged the key performance index down. This provides buy opportunities for short, medium and long-term investors who understand the power of timing in equity investments, as most listed companies are selling at their 10, or 11-year lows.
Nevertheless, we are of the view that this downturn would not last at these very attractive prices, following which we advise stage-by-stage positioning in fundamentally strong equities.

Wednesday’s trading opened slightly in the green and oscillated between the midmorning and early afternoon as bargain hunting in undervalued stocks continued before the sell down in MTNN and Total Nigeria pushed the NSE index to an intraday low of 21,663.32 basis points, from its high of 21,814.74bps, before sliding to close the session at 21,729.48bps.
Market technicals for the day were weak and mixed, as volume traded was lower than previous day’s with breadth favoring the bulls, just as there were mixed sentiments, as revealed by Investdata’s Daily Sentiment Report, showing ‘buy’ volume of 44%. ‘Sell’ position stood at 56% on a total daily transaction volume index of 0.53, just as the momentum behind the day’s performance was seriously weak. Money Flow Index dropped to 6.65 points, from the previous session’s 12.30bps, indicating that funds left the market and some stocks.

Index and Market Caps
At the end of Wednesday’s trading, the All-Share index shed 11.68bps, closing at 21.729.48ps, from its opening figure of 21,741.16ps, which represented a 0.05% drop, just as market capitalization lost N6.09bn, closing at N11.32tr, as the N11.33tr opening level which also represented 0.05% value loss.
Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally 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 the current market recovery ahead of full-year earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.
Midweek’s downturn was driven by selloffs in stocks like MTNN, Total Nigeria, Africa Prudential, FCMB, GSK and NEM Insurance. This impacted slightly on the NSE index, increasing its Year-To-Date loss to 19.05%, while market capitalization loss stood at N1.64tr, representing a 12.62% decline over the year’s opening value.

Bullish Sector Indices
The sectorial performance indexes were largely bullish except for the NSE Oil/Gas that closed 1.01% lower, while the NSE Banking led the advancers after gaining 2.94%, followed by the NSE Insurance, Industrial and Consumer Goods which were up by 1.43%, 0.35% and 0.17% respectively.
Market breadth remained positive as advancers outnumbered decliners in the ratio of 20:7 just as market transactions in volume and value terms were down by 29.27% and 37.25% respectively, after investors traded 233.47m shares worth N2.24bn from the previous day’s 330.1m units valued at N3.57bn. This volume was boosted by trades in Guaranty Trust Bank, Zenith Bank, Access Bank, UBA and FBNH
The best-performing stocks for the day were Cutix and Cadbury which topped the advancers table, gaining 10% and 9.71% respectively, closing at N1.32 and N5.65 per share on low price attraction. On the flip side, Total Nigeria and Africa Prudential lost 10% and 9.87% respectively, closing at N96.30 and N3.47 respectively on selloffs and market forces.

Market Outlook
We expect mixed performance to continue, as market players cash in on low prices to position ahead of the expected impact of the stimulus package on the economy in the midst of dividend payment by the companies that postponed their Annual General Meetings. However, the high dividend yields continue to attract buying interests, while more audited corporate earnings hit the market going forward. This is despite the likely continuation of the mixed intraday movement in the midst of selloffs, with investors buying increased positions in undervalued stocks ahead of dividend declaration. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020.

Also, investors and traders are positioning in anticipation of the 2019 full-year earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.
We see investors focusing on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.
Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation in the New Year.
This was noted in the 10 golden stocks and trading ideas for 2020, as discussed extensively during the Investdata 2020 Traders & Investors Summit held in Lagos.

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

https://investdata.com.ng/2020/03/investors-cash-in-on-low-price-attractions-position-ahead-expected-impact-of-stimulus-packages/

Investdata Daily Sentiment Report as of 27 March, 2020

NSEASI buy 29% sell 71% MFI 8.91
Access buy � MFI 66.80
Afrprud buy � MFI 63.51
Chams buy � volume index 0.86 MFI 33.73
Eti buy 0% MFI 53.12
Fbnh buy 67% sell 33% MFI 20.53
Fcmb buy 20% sell 80% volume index 1.27 MFI 29.66
Fidelity buy � MFI 36.29
Fidson buy 16% sell 84% volume index 2.19 MFI 75.60
Glaxo buy 0% volume index 2.29 MFI 52.92
GT buy � MFI 50.44
Oando buy 75% sell 25% volume index 0.94 MFI 35.04
Stanbic buy � volume index 1.46 MFI 65.81
Sterling buy � volume index 2.27 MFI 19.14
Transcorp buy � MFI 18.47
Uba buy � MFI 28.43
Ubn buy � volume index 1.81 MFI 26.75
Wapco buy 60% sell 40% volume index 2.28 MFI 24.77
Wapic buy � MFI 3.33
Zenith buy � MFI 35.56

https://investdataltd..com/2020/03/investdata-daily-sentiment-report-as-of_34.html