₦airaland Forum

Reversal Imminent On NGSE, Amidst Worry As Rising Liquidity Not Impacting Most Stocks

Market Update for May 21
Nigeria’s equity market on Tuesday maintained its seeming recovery mode, as the gaining momentum increased, just as volume inched up, driven by the value gain recorded by the three most capitalized stocks on the bourse, even as it maintained a negative breadth.
Trading opened on the Nigerian Stock Exchange (NSE) sharply up in the morning session, extending the three waves on demand for high cap stocks, which was sustained throughout the day. In the process, the benchmark NSE All-Share index touched an intraday high of 30,270.34 basis points, from 29,361.88bps on strong sentiments, breaking out another psychological line of 30,000-mark, closing the day higher at 30,218.14bps.

The four days of the successive rally has been courtesy of last week’s listing of MTN Nigeria Communications Plc by way of introduction. The shares which were listed at N90 each has appreciated by 46.33% in the four trading sessions between last Thursday and Tuesday, May 21, 2019, to close at N131.70 each. This has been blamed on the unavailability of the share and the fact that most of the trading has been via cross deals from the day it was listed.

However, there was an improvement on Tuesday, with investors trading 110.72m shares in 292 deals, a sign that the supply bottleneck is gradually easing after the promoters have moved the price, with many investors becoming cautious about jumping in at this price. Recall that so far, the stock has not been tested as a quoted company in Nigeria.

Meanwhile, members of the Monetary Policy Committee (MPC) held its last regular two-day meeting in the first tenure of Godwin Emefiele as Central Bank of Nigeria (CBN) governor, retaining by majority vote, to retain all the rates: MPR at 13.5%, CRR 22.5% and liquidity ratio 30%. Members opted to watch the inflationary trend, noting with concern, the declining trend in global output growth, which commenced in the second half of 2018, besides the heightening insecurity, planting season and the expected implementation of the new minimum wage.
The committee plans to make credits available for the private sector, through consumer and mortgage credits, reducing money banks participation in government securities in order for the banks to play their roles of providing credit to the people. There are also plans to reduce Non-Performing Loans and the need to protect the banks (READ MORE).

Market technicals for the day were positive and mixed, as traded volume was higher than previous day’s, even as the breadth favours the bears, while strong buying pressure is revealed by Investdata’s daily sentiment report. Buy position stood at 94% and sell volume, 6% of the total daily transaction volume index of 1.12.
The impetus behind the market performance was up but still weak, as shown by the Money Flow Index of 30.67points, from previous day’s 20.47bps, indicating that funds are entering the market as buying interest in MTN and Dangote Cement increases. We note with concern that liquidity is not impacting other stocks for now.

Index and Market Cap
At the end of Tuesday’s trading, the composite NSEASI gained 844.74bps to close at 30,218.14bps, after opening at 29,373.40bps, representing 2.88% growth, just as market capitalization soared by N372.07bn, closing at N13.31 trillion, from its opening value of N12.94tr, which also represents 2.88% value gain. The NSE index is currently trading above its 50-Day Moving Average while touching the upper Bollinger band suggesting an imminent reversal, just as RSI is reading 62.61.
Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The upturn was sustained as a result of demand for medium and high cap stocks like MTN Nigeria, Dangote Cement, Guaranty Trust Bank, Forte Oil, Eterna, CCNN and Transcorp, among others. This impacted positively on the Year-to-Date loss, reducing it to 3.86%, just as market capitalization gain soared to N1.74tr, or 13.01%, from the year’s opening level of N11.72tr.

Mixed Sector Indices
The sectoral indices were largely bullish, except for the NSE Consumer goods that closed in red by 0.33%, while the NSE Industrial goods and Banking led the advancers by 2.03% and 0.94% each. Market breadth remained negative as the number of decliners outnumbered advancers in the ratio of 20:16.
Market activities were up in volume and value traded by 56.51% and 116.66% respectively to 335.60m shares worth N17.19bn, from the previous day’s 214.42m units valued at N7.93bn driven by ICT, banking, and conglomerates stocks like MTN, FBNH, Sterling Bank, Guaranty Trust Bank, and Transcorp.
MTN Nigeria and Africa Prudential were the best-performing stocks for the session, as they topped the advancers’ table, gaining 9.98% and 9.44% respectively, while closing at N131.7 and N3.93 per share, on market forces and sentiment. On the flip side, Livestock Feeds and Juli Pharm lost 10% and 9.58% respectively to close at N0.63 and N1.51, purely on profit-taking and market forces.

Market Outlook
We expect the recovery driven by MTN to continue as value investors take advantage of the low valuation to rebalance their portfolio ahead of Q2 numbers, given plans by the CBN to reduce banks’ participation in government securities, while boosting private sector lending to drive economic activities and investment.
More importantly, we expect that the government would sign the federal budget without further delay while changing its disbursement and implementation style in 2019 and beyond for good so as to drive the economy.
Investors look to government’s policy direction as the market faced low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

Take Action
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set. The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/05/reversal-imminent-on-ngse-amidst-worry-as-rising-liquidity-not-impacting-most-stocks/

Nigeria’s April CPI Inches Higher To 11.37% On Food Inflation Pressure


After months of gradual but steady decline, Nigeria’s Consumer Price Index climbed to 11.37% at the end of April, according to data released by the National Bureau of Statistics (NBS), Wednesday morning.
Headline inflation figures for the period rose by 0.79% year-on-year and 0.94% month-on-month respectively, from 11.25% in March 2019, on the jump in food inflation from 13.45% in March to 13.70%, a situation that was mitigated by the drop in Core inflation to 9.3%, from 9.5% in the previous month.
On a month-on-month basis, the headline index growth was the highest since September 2018, according to analysts at Cordros Capital Ltd in a note to clients on Wednesday morning.

The average composite COI for the 12 months ending April 2019, over that of previous month, the NBS noted, stood at 11.31%, down from 11.4% in March; just as urban inflation rate notched by 11.7% YoY, from 11.54% in prior month; while rural inflation inched by 11.08% from 10.99%.
On a MoM basis, urban inflation rose 0.19% higher at 1%, from 0.81% in the preceding month; with rural inflation at 0.9% from 0.77% in March, representing an increase of 0.13%.
On average, over the 12-month YoY, urban inflation stood at 11.69%, down from 11.78% in March; just as rural inflation dropped from 11.08% to 11.0%
Food inflation was boosted by the rise in the prices of meat, fish, oils and fats, bread and cereals, fish, milk, cheese and eggs, potatoes, yam and other tubers, fruits, and vegetables.

The average annual rate of change of the food sub-index for the 12-month ending Apri 2019 was 13.34%, down from 11.42%.
Core inflation, otherwise known as the “all items less farm produce,” stood at 9.3%, down from 9.5% in March 2019.
The highest increases were recorded in the prices of medical and dental services, hospital services, rent for housing, cleaning, repair, and hire of clothing, tobacco, vehicle spare parts, and major household appliances.

Month-on-Month, the core index decreased by 0.70%, 17 bps higher than 0.53% reported in February.
On a state-by-state basis, headline inflation was at its peak in Kebbi at 14.82%; followed by Bauchi’s 14.42%; and Zamfara, 13.99%, which may not be unrelated to the sporadic attacks on villages and communities by herdsmen, cattle rustlers, and armed bandits.
The slowest YoY growth was recorded in Cross River, 9.48%; Delta, 9.94% and Abia, 10.12%.
MoM, growth was at its height in Bauchi at 2.1%; Kebbi, 1.88% and Ogun, 1.63%; while the slowest growth of 0.18% was recorded in Kogi; ahead of 0.28% in Rivers; and Plateau, 0.35%.

For the month, food inflation was highest in Kaduna, another state that recorded attacks on communities and villages by herdsmen within the period. Kaduna recorded 16.77%; slightly above the 16.75% by Kebbi, also in the northwest zone; and 16.34% in Kwara; just as it grew slowest in Kogi, at 10.49%; Bayelsa, 11.25%; and neighbouring Rivers, 12.01%.
MoM, growth in food inflation was highest in Edo at 2.55%; Kebbi, 2.34% and Ogun, 2.28%; at a time Abuja and Kogi recorded negative growth or a price deflation (general decrease in the general price level of goods and services or negative inflation rate), while Rivers recorded no change.

https://investdata.com.ng/2019/05/nigerias-april-cpi-inches-higher-to-11-37-on-food-inflation-pressure/

Nigeria’s 2019Q1 GDP Growth Up 2.01% On Weak Oil Sector, As MPC Meeting Begins

As members of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) begin their second regular two-day meeting for the year on Monday, one key data that may take a central place in their deliberation is the 2019Q1 GDP rate released earlier in the day by the National Bureau of Statistics (NBS), showing that the nation’s economy grew at 2.01%, a slower pace than the 2.38% reported for 2018Q4.
Nominal GDP, in the period, stood at N31.794tr, which was higher than the N28.438tr reported in the 2018Q1, representing a Year-on-Year growth rate of 11.8%; even as it was lower than the N35.23tr of 2018Q4 by 9.75%. The 2019Q1 nominal GDP growth rate, NBS added, was higher than the 2.54% recorded in 2018Q1.
Real GDP during the period, was N16.42tr.

Although, the slow growth was not expected, given the hints provided by supporting data like the CBN’s Purchasing Managers’ Index, inflation and the lull in the Nigerian capital market during the period under review.
The GDP rate came even weaker than the CBN’s 3.0% growth rate target for 2019, hampered by the oil sector.
Even then, the bureau noted that the 2019Q1 remains the strongest since 2015, a situation it linked to the general elections that were held within the period. The period witnessed significant liquidity in the system as shown by the CBN published currency in circulation during the period (READ). The period witnessed a huge cache of cash in the hands of Nigerians due to the spending spree by politicians seeking to swing votes in their favour.

Reacting via his personal twitter handle, Andrew Nevin, chief economists of PriceWaterhouseCoopers Nigeria, a firm of external auditors, noted that the 1Q GDP growth is only 2% when annualized, which “is just not good enough when a population grows at 2.7% per annum.”
He lamented that “every quarter, Nigeria gets poorer and poorer per capita…”
The services, industries, and agriculture, respectively, accounted for 54.6%, 23.5%, and 21.9% of overall output growth in the review period.
Oil sector GDP rose by 2.40% (compared to -1.62% in the previous quarter), with the NBS estimating Nigeria’s crude oil production during the three-month period at 1.96mb/d, marginally lower than the 1.98mb/d reported in 2018Q1, but 0.05mb/d higher than the 1.91mb/d recorded in 2018Q4. The oil sector contributed 9.14% of total GDP, compared to 7.06% and 9.55% in 2018Q4 and the corresponding quarter of 2018 respectively) during the review period.

The non-oil sector however expanded by 2.47% y/y in 2019Q1, down from 2.70% recorded in the final quarter of 2018, down when compared to the robust 14.02% growth achieved a year ago.
The non-oil sector contributed 90.86% to total GDP, (as against 92.94% and 90.45% in the three months to December 2018 and Q1-18 respectively).
A breakdown of three of the biggest components of the GDP shows that Services grew by 2.41% year-on-year, down from 2.90% in the preceding quarter and -0.47% y/y; while Agriculture grew by 3.17% YoY, 72 bps and 17 bps higher than growth rates recorded in Q4-18 and Q1-18 respectively.
Manufacturing (Industries) grew at 0.81% in Q1 2019; compared to 2.35% in Q4 2018; 1.92% in Q3 2018; 0.68% in Q2 2018 & 3.39% in Q1 2018.
Motor vehicles and Assembly GDP under manufacturing, however, jumped by 13.32% in Q1 2019; compared to -5.70% in Q4 2018 and 2.29% in the corresponding quarter of 2018.

https://investdata.com.ng/2019/05/nigerias-2019q1-gdp-growth-up-2-01-on-weak-oil-sector-as-mpc-meeting-begins/

Supply Bottleneck: MTN Nigeria Has Broken No Post-listing Rule, Says NGSE

In view of insinuation that would not go away, regarding alleged manipulations that is now causing artificial scarcity of shares of MTN Nigeria Communications Plc, barely three sessions after its 20.35bn shares were listed by introduction on the premium board, the Nigerian Stock Exchange (NSE), late Monday night said the telecommunications giant has not broken any rule in its book.
Continuing, it said stakeholder feedbacks have been received concerning the present rules on cross dealing and will consider the issues raised as part of “sustained efforts to ensure our market remains equitable for all stakeholders.”

It defined a cross deal as one involving “clients of the same Dealing Member Firm on both sides of a trade,” and that significant issues have been raised that Dealing Members who have not been involved in the cross deals have been unable to trade on behalf of their clients.”
The Exchange, while acknowledging the supply bottlenecks being experienced by anxious investors, said its council is also concerned about the state of affairs but urged “brokers to discuss with their clients about possible sales of shares.”
In any case, the statement argued that MTN Nigeria satisfied rules such as free-float, in the form of value, even as companies listing by introduction are not under any obligation to make their shares available. It noted that existing shareholders are at liberty to trade their shares at any price they find attractive.

There reports that MTN Nigeria shares are being actively sold off-market to desperate investors, following which the price has appreciated by 33% in just three sessions, following which its market capitalization rose to N2.437tr, up by N605.546bn, or 33.05% from N1.835tr it was listed on Thursday, May 16, 2019 (READ MORE).
The NSE’s management restated its commitment to operating a fair, orderly and transparent market, but explained that “where a company lists following an Initial Public Offering, shares are expected to be available for trading on the day of listing. In a Listing by Introduction, however, no shares have been offered for subscription by the company prior to listing.
“Thus, without any intervention, it is possible that there will be no shares available for trading on the listing date. Indeed, currently, no rule of The Exchange compels shareholders in a listed company to tender their shares for trading. Shareholders are at liberty to trade their shares at any time and price suitable to them.

“Thus, in order to stimulate trading in the shares of companies that List by Introduction, the NSE’s practice is to urge the company to make shares available on the day of listing. In the case of MTN Nigeria, the NSE had requested the Company as part of the listing process to make shares available and The Exchange expects the company to do that.”
The statement noted that since the listing of MTN Nigeria “a total of 105,301,759 shares valued at N12,231,997,316 has traded in three days” by 10 dealing member firms in 134 cross deals/negotiated deals.
The NSE noted that according to its Rulebook, “when a Dealing Member or Authorized Clerk has an order to buy and an order to sell the same security at the same price, the Dealing Member or Authorized Clerk may “cross” those orders at a price at or within The Exchange’s best bid or offer.

“A variant of this is the negotiated deal, which describes a situation where a cross-deal is executed between two Dealing Member Firms at a price which may be within The Exchange’s best bid or offer or with the approval of The Exchange, outside the best bid or offer.
NSE management said no concession was given to MTN Nigeria on the minimum free float required for companies listed on The Exchange, noting that in its Rulebook, “free float is defined as the number of shares that an Issuer has outstanding and available to be traded on The Exchange. It includes all shares held by the investing public, and excludes shares held directly or indirectly by promoters, directors and their close relatives; strategic investors holding five percent and above of the issued share capital; or government.”

Rules for listing on the Premium Board, as MTN Nigeria did, he continued, “require a Company to have a minimum free float of twenty percent of its issued share capital or that the value of its free float is equal to or above N40 billion on the date The Exchange receives the Issuer’s application to list. MTN Nigeria met with the free float requirement of N40bn. The free float of MTN at the time of listing was in excess of N90bn.”

https://investdata.com.ng/2019/05/supply-bottleneck-mtn-nigeria-has-broken-no-post-listing-rule-says-ngse/

Investdata Daily Sentiment Report as at May 21, 2019

NSEASI buy 89% sell 11% volume index 0.70 MFI 20.49
Access buy 0% MFI 43.45
Dangcem buy � MFI 28.57
Dangflour buy � MFI 79.93
Dangsugar buy 0% volume index 0.71 MFI 49.71
Eti buy 0% volume index 1.37 MFI 20.95
Fbnh buy � volume index 1.05 MFI 17.83
Fcmb buy 0% volume index 1.16 MFI 45.38
Fidelity buy 0% MFI 23.11
GT buy 20% sell 80% volume index 0.79 MFI 21.47
Jaiz buy � MFI 24.46
Japaul buy 0% MFI 33.72
Linkass buy � volume index 5.56 MFI 44.78
Mben buy 0% volume index 2.46 MFI 53.03
Regalins buy 0% MFI 52.53
Transcorp buy � MFI 82.90
Uacn buy 25% sell 75% volume index 1.20 MFI 71.98
Uba buy � volume index 0.86 MFI 40.97
Ubn buy 0% MFI 76.90
Wapco buy 0% volume index 3.18 MFI 19.36
Wapic buy 0% volume index 0.81 MFI 56.65
Wema buy 0% MFI 17.32
Zenith buy 60% sell 40% MFI 26.16

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_22.html

NGSE Indices Remain Mixed Despite Upward Pull By Large Caps, As Low Volume Persists


Market Update for May 20
Trading activities on the Nigerian Stock Exchange on Monday remained volatile and mixed, consolidating three consecutive days of gains as the trillion cap stocks appreciated in value to support the upside momentum.
The NSE All-Share index opened on a bang in the morning, a situation that was sustained throughout the day, following which it closed higher, touching intraday high of 29,438.95 basis points, from 28,871.93bps on strong sentiments, breaking out the 29,000 psychological lines.
Recall that this recovery move in the last couple of days was triggered by the listing of MTN Nigeria on the exchange, despite the prevailing low liquidity in the equities segment of the financial market.

The National Bureau of Statistics (NBS), on Monday, published Nigeria’s 2019Q1 GDP data, with weak growth of 2.01%, which as observed by analysts represents a slower growth rate than the country’s population at 2.75% (READ MORE). The weak growth has already been reflected by the benchmark NSEASI, given that the stock market, a leading reflector of the country’s economic wellbeing, had in the middle of the period under review signaled a slowdown in economic activities through the generally weak Q1 corporate earnings released by listed companies. The GDP data indicated that the economy is still struggling, despite the relative stability in macroeconomic fundamentals, attractive low stock valuations. The economy is therefore in urgent need a fiscal stimulant to attract more funds into the system, which could come by way of the much awaited ministerial list and economic reform policies of the government as it prepares to begin its second four-year term, to support the much-expected rebound.

Monday’s market technicals were positive and mixed, as volume traded was lower than previous day’s, amidst a negative market breadth and strong buying sentiment as revealed by Investdata’s daily sentiment report, showing a buy volume of 89% and sell positive of 11% of the total daily transaction volume index of 0.76.
The momentum behind the market performance was however weak, despite the upmarket, as shown by the Money Flow Index of 24.27points, from the previous day’s 16.82bps, indicating that funds are gradually flowing in.

Index and Market Cap
The benchmark NSE All-Share index gained 501.47bps to close at 29,373.40bps, after opening at 28,871.93bps, representing a 1.74% growth, just as market capitalization rose by N220.87bn, closing at N12.94 trillion, from its opening value of N12.72 trillion, which also represented 1.74% appreciation in value.
In a bid to douse mounting tension over the piecemeal and even off-market trading of MTN Nigeria shares, management of the NSE, on Monday night took time to explain that the company has indeed broken no post-listing rules, just as it has met its free-float requirement as set out for stocks listed on the premium board (READ MORE).

Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.
Meanwhile, the upturn was, once more, driven by MTN, as well as buying interest in stocks like Dangote Cement, Zenith Bank, Guinness Nigeria, Dangote Flour, FCMB and Wema Bank, among others. This impacted positively on the Year-to-Date loss, reducing it to 6.54%, just as market capitalization gain soared to N1.34tr, or 10.12%, from the year’s opening level of N11.72tr.

Mixed Sector Indices
The sectoral indices were largely bearish, except for the NSE Insurance and Consumer goods that closed higher by 1.18%, and 0.40% respectively, while NSE Oil/Gas and Banking led the decliners by 1.11% and 1.08% each. Market breadth remained negative as the number of decliners outnumbered advancers in the ratio of 20:17.
Market activities were mixed as volume traded was down 19.94% to 214.42m shares against 267.84m units on Friday, as most investors have their eyes on a piece of the “Yello” cake, for which many had exited many positions and remain on the waiting list. The day’s transaction value rose by 5.43% to N7.93bn, compared to previous day’s N7.52bn. Volume was driven by ICT, banking, and transport service provider stocks like MTN, FBNH, UBA, Nahco, and Guaranty Trust Bank.

McNichols and MTN Nigeria were the best-performing stocks for the session, as they topped the advancers’ table gaining 10% and 9.96% respectively, closing at N0.55 and N119.75 per share, on market forces and sentiment for the newly listed company. On the flip side, Forte Oil and Etranzact lost 9.88% and 9.85% respectively to close at N25.55 and N2.38, purely on profit-taking and market forces. Investors are seemingly re-pricing FO shares appropriately, in view of the divestment of its power asset, which before now, had been the cash cow of the group.

Market Outlook
We expect the recovery driven by MTN to continue as value investors take advantage of the low valuation to rebalance their portfolio ahead of Q2 numbers since the Q1 GDP recorded a slow growth. Also, members of the CBN’s Monetary Policy Committee (MPC) would rise from their two-day meeting today and are likely to maintain status quo or adjust the Cash Reserve Ratio (CRR) downward, to boost banks’ lending to the private sector and thereby drive investment. More importantly, we expect that the government would sign the federal budget without further delay while changing its disbursement and implementation style in 2019 and beyond for good so as to drive the economy.
Investors look to government’s policy direction as the market faced low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.

The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.
The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

Take Action
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set. The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/05/ngse-indices-remain-mixed-despite-upward-pull-by-large-caps-as-low-volume-persists/#more

Investdata Weekly Sentiment Report as at May 19, 2019

NSEASI buy 95% sell 5% volume index 0.74 MFI 16.58
ABC buy 50% sell 50% volume index 4.24 MFI 73.81
Access buy 8% sell 92% volume index 1.02 MFI 61.57
Afrprud buy 0% MFI 42.17
Aglev buy � volume index 1.32 MFI 42.18
Aiico buy 25% sell 75% MFI 63.67
Beta buy � volume index 1.52 MFI 66.26
Caverton buy 0% MFI 87.37
Ccnn buy 7% sell 93% MFI 3.76
Chams buy 88% sell 12% MFI 89.70
Cutix buy � volume index 1.56 MFI 29.12
Dangcem buy 0% MFI 47.91
Dangflour buy 12% sell 88% volume index 1.41 MFI 66.41
Dangsugar buy 43% sell 57% volume index 1.49 MFI 51.51
Eterna buy0% MFI 12.07
Eti buy 0% MFI 38.60
Fbnh buy 9% sell 91% MFI 44.09
Fcmb buy 0% MFI 29.83
Fidelity buy 8% sell 92% MFI 34.64
Fmn buy 40% sell 60% MFI 17.35
FO buy 0% MFI 58.87
GT buy 14% sell 86% volume index 1.23 MFI 33.47
Honyflour buy 0% MFI 49.69
Jaiz buy 50% sell 50% volume index 1.09 MFI 68.99
Japaul buy 0% MFI 66.73
Lasaco buy � volume index 1.00 MFI 77.07
Linkass buy 0% volume index 2.02 MFI 13.46
Lvstk buy � MFI 52.16
Mansard buy 94% sell 6% MFI 96.98
M&B buy 83% sell 17% volume index 1.11 MFI 57.21
Mben buy � volume index 0.70 MFI 41.63
Mobil buy 56% sell 44% volume index 1.45 MFI 72.86
Nahco buy � volume index 0.70 MFI 33.39
Nascon buy � volume index 1.11 MFI 50.13
Neimeth buy � volume index 1.94 MFI 65.68
Nem buy 0% MFI 62.76
Nestle buy 0% volume index 0.87 MFI 59.52
Npf buy � volume index 0.92 MFI 37.45
Oando buy � MFI 46.09
Okomu buy 57% sell 43% volume index 1.55 MFI 30.82
PZ buy 0% MFI 41.44
Regalins buy 0% volume index 2.64 MFI 51.66
Royalex buy � MFI 79.46
Seplat buy 71% sell 29% MFI 68.98
Sovereins buy 0% MFI 86.52
Sterling buy 12% sell 88% MFI 86.28
Transcorp buy 92% sell 8% volume index 2.38 MFI 60.14
Uacn buy 54% sell 46% volume index 6.80 MFI 65.53
Uba buy 23% sell 77% volume index 1.01 MFI 34.40
Ubn buy � volume index 1.02 MFI 80.35
Ucap buy 58% sell 42% volume index 1.00 MFI 15.32
Unilever buy � MFI 40.99
Uniondac buy 67% sell 33% MFI 42.83
Veritas buy � MFI 13.56
Vitafoam buy � volume index 1.10 MFI 21.12
Wapco buy 0% MFI 46.75
Wapic buy � volume index 1.01 MFI 36.42
Wema buy 11% sell 89% MFI 55.66
Zenith buy 17% sell 83% MFI 33.98

https://investdataltd..com/2019/05/investdata-weekly-sentiment-report-as_20.html

NGSE Indicators Weaken Further, But Investors Upbeat Ahead Of MTN Nigeria Listing

Market Update for May 15
It was yet another bearish and volatile session on the Nigerian Stock Exchange at the midweek, as selling pressure persisted, extending the eighth consecutive day of negative outing, reflecting the effects of the lingering confidence crisis and dwindling liquidity in the market since the exit of smart money from the market.
Also, the removal of four Nigeria stocks from the Morgan Stanley Capital International (MSCI) has triggered sell-offs in the affected stocks by foreign investors while rebalancing their portfolio.
The sustained drop may also not be unconnected, to some extent, to the sell down by many market players preparatory to Thursday’s listing by way of introduction of the 20.35bn ordinary shares of MTN Nigeria at N90.00 each on the NSE.

This is expected to boost market liquidity and reduce the heavy influence of Dangote Cement, which alone accounts for a third of the capitalization, on the general performance index of the Nigerian bourse. The company looks good for investment consideration, given the nature of its service, especially now that the world has gone digital. Also, while the Q1 figures released to make its investment case, the post-listing numbers will determine to a large extent, if investors will buy more, hold or sell. Consequently, we advise investors to trade very cautiously, while those who do not have the funds now should wait.

Also on Wednesday, the National Bureau of Statistics (NBS) published the April Consumer Price Index, showing that inflation rate heightened during the month, as prices of food items rose higher than the prior month (READ).
The NSE All-Share index started the day marginally upside and pulled back at the midday to afternoon sessions after touching intraday low of 28,282.30 basis points from a high of 28,433.39bps before finishing the day at 28,286.08bps on negative sentiments.

Midweek’s market technicals were negative, as volume traded fell lower than previous day’s, amidst negative market breadth and high selling pressure as revealed by Investdata’s daily sentiment report, showing a sell position of 97% and buy volume of 3% of the total daily transaction volume index of 0.48.
The momentum behind the day’s market performance was very weak as shown by the Money Flow Index of 8.62 points, from previous day’s 8.34bps, indicating that funds had left the market amidst continued sell-offs.

Meanwhile, the investing community continues to fix their gaze on government economic reform policies that will trigger all expected economic productivity in the new dispensation as events unfold in the economic and political fronts. We note the comment by Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Wednesday, that the effects of the various interventions by the apex bank would become manifest in two years (READ MORE). The assurance by Emefiele, who was responding to questions while being screened for a second and final term of five years, could happen faster yet if the Federal Government supports with complementary and economy stimulating policies, rather than the continued sloganeering.

Index and Market Cap
On Wednesday the composite NSEASI lost 136.68bps to close at 28,286.68bps, after opening at 28,422.78bps, representing a 0.48% decline, just as market capitalization went down by N51.35bn, closing at N10.63tr from its opening value of N10.68tr, which also represented 0.48% value depreciation.

Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The day downturn was driven by sell-offs in stocks like Dangote Cement, Forte Oil, CCNN, Access Bank, Fidelity Bank Wema Bank, Dangote Flour and Wapic Insurance, among others. This impacted negatively on the Year-to-Date loss, which heightened to 10%, just as market capitalization decline soared to N1.98tr, or 9.43%, from the year’s opening level of N11.72tr.

Sector Indices
All the sectoral performance indexes were in red, with NSE industrial goods leading the decliners after shedding 2.31%. Market breadth turned negative as the number of decliners outnumbered advancers in the ratio of 17:16.

Market activities were down in volume and value by 11.66% and 22.84% respectively to 176.741m shares worth N2.08bn as against the previous day 200.09m units value at N2.69bn. Volume was driven by financial services and conglomerates stocks, Access Bank, UACN, UBA, GuarantyTrust Bank and Zenith Bank.
Chams and ABC Transport were the best-performing stocks, topping the advancer table with a gain of 9.09% and 8.00% respectively, closing at N0.36 and N0.27 per share, on market forces. On the flip side, WAPIC and Forte Oil lost 10% and 9.78% respectively to close at N0.36 and N31.50, purely on market forces and profit-taking.

Market Outlook
We expect a slowdown and mixed performance to continue as value investing by discerning investors takes advantage of the low valuation to rebalance their portfolio ahead of the release by the National Bureau of Statistics (NBS) of the Q1 GDP data, alongside the MPC meeting holding on May 20 and 21. More importantly, we expect that the government’s disbursement and implementation style in 2019 and beyond will change for good so as to drive the economy.

Investors look to government’s policy direction as the market faces low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

https://investdata.com.ng/2019/05/ngse-indicators-weaken-further-but-investors-upbeat-ahead-of-mtn-nigeria-listing/

Expect Mixed Market, As Portfolio Restructuring, Sell Pressure On High Caps Persist

Market Update for the week ended May 17 and Outlook for May 20-24
The nation’s equity market last week had a mixed performance, closing marginally on the upside while halting three consecutive weeks of decline and selling pressure. The turnaround was driven by the listing of the nation’s biggest telecommunication company- MTN Nigeria Communications Plc by way of introduction on the Nigerian Stock Exchange (NSE) on Thursday, May 16, 2019 (READ). It thereby impacted the benchmark NSE All-Share index positively and wiping away the accumulated losses in market capitalization, while in two days, reducing the year-to-date negative position of NSEASI to 8.14%.

The market had tested its two-year low within the period, after also touching an intraweek low of 28,019.97 basis points, from a high of 28,918.54bps, reflecting the low confidence level among investors, amidst prevailing poor liquidity in the market.
Ahead of his second term swearing-n ceremony on May 29, 2019, the NSE Index, however, continues to trade well below President Muhammadu Buhari’s first-term inauguration level of 34,310.37bps on May 29, 2015, as the market oscillated for the past four years, leaving investors worse than the government met them.

The NSE benchmark index has suffered a loss of 15.85% loss from May 2015 to date, due to global and domestic geopolitical crisis arising from a combination of unstable economic policies, the recession, currency valuation, poor infrastructure, insecurity, poor implementation of the nation’s annual budgets, resulting from the disbursement style of government.
Owing to these factors, the NSE All-Share index was down in 2015, 2016, but recovered in 2017, only to return to old ways in 2018 and has remained in the red till date, as government’s Economic Recovery & Growth Plan (ERGP) delivered little in terms of the overall expectations. This was due to a lack of commitment and strategic review to assess impact after exiting recession, aided by the new Investors and Exporters (I&E Window) of the Central Bank of Nigeria (CBN) which attracted foreign exchange into the economy and market in 2017, on the back of its promised ease of repatriation. The table below tracks the weekly movement of the NSE ASI for five years.

NSEASI Weekly Time Frame


The NSE index action has been on a serious downtrend since 2018 but attempted a rebound late January and February 2019, on the strength of smart money returning towards the presidential election, but pulled back immediately after. This situation had lasted until last week when the index retraced up after the last uptrend line at 28,019.98bps, resisting a breakdown, even while the index is trading below its 20, 50 and 200-Day Moving Average.

The possibility of its touching the next strong support level of 26,874.46 is high if the last two-day sentiment on the NSE is short-lived.
The current chart pattern on the index supports reversal as it is trading on top of the lower Bollinger band, with RSI reading oversold at 32.14. Money flow at 16.58 point is weak, not minding the upmarket recorded on Thursday and Friday, driven by the listing of MTN Nigeria and ahead of the two-day Monetary Policy Committee (MPC) meeting which begins on Monday.

Expectations are mixed, given the jump in April inflation rate, following which the committee has two options of either maintaining the rate to watch as events unfold, so as to manage inflation that is resurging ahead of this month’s implementation of the new N30,000 minimum wage across the country. The other option is a cut in Cash Reserve Ratio (CRR) to boost lending by banks to the private sector, thereby driving productivity and encouraging more investment.

Movement Of NSEASI
Previous week’s negative outing was extended, as the composite NSEASI closed down sharply on Monday at 0.97% to open the week. This trend was sustained on Tuesday, as the index fell 0.20% on persistent selloffs, while at the midweek it closed 0.48% down as many sold their position even at a loss in anticipation of the MTN Nigeria listing wherein they planned to take a position. The listing finally halted the downtrend on Thursday, as the index gained 0.58%, a trend that continued on Friday when the market notched 1.53%, bringing the week’s total gain to 0.08%, compared to previous week’s 1.25% loss. The gain recorded last week reduced year-to-date loss to 8.14%, thereby revealing buy opportunities in the market, looking at it 52 weeks high and low ahead of March year-end and earnings reports in June.

Advancers table, for the week, was dominated by low cap stocks as selling pressure continue before the listing of telecommunication giant triggered the positive sentiment despite the price adjustment for dividend proposed by Nestle, Okomu Oil, Eterna and Regency Insurance.

The energy behind the week’s performance was weak, irrespective of the upmarket for the period under review as shown by the money flow index at 16.58 basis points, compared to 23.83bps in the previous week. This indicates that funds are still leaving the market, even as MTN Nigeria has sparked a positive sentiment, leading to a buy volume of 95% and a sell position of 5% on a transaction volume index of 0.74.

Bearish Sectoral Indices
All the sector indices were down heavily, led by NSE Banking, which lost 4.31%, followed by Consumer Goods with 4.13%; while Industrial goods, Insurance Oil/Gas closed 3.88%, 3.35% and 2.32% lower respectively. This reflected the sell down for MTN and the anticipated positive news from the monetary and fiscal authorities. Market breadth remained negative with decliners outnumbering advancers in the ratio of 42:16, to halt the three-week down market.

Market activities in terms of volume and value were mixed as turnover fell by 20.94% to 1.17bn shares, as against the previous position of 1.48bn, while value rose from N10.88bn in the previous week to N17.89bn.
Thomas Wyatt and Neimeth were the best-performing stocks for the week, topping the advancers’ chart with 24% and 22% gains respectively, as they closed at N0.31 and N0.61 per share on market forces respectively. On the other hand, Regency Assurance and Forte Oil lost 20% and 18.88% respectively, closing at N0.20 and N28.35, on dividend markdown and profit-taking.

Market Outlook
We expect mixed performance as MTN Nigeria’s influence continues this week, in the midst of expected Q1GDP which is likely to slow down, looking at Purchasing Managers’ Index that dropped to 56.9 points in 2019Q1, from 60.2 points in 2018Q4, and the outcome of the MPC meeting holding May 20/21.
Sell pressure may still persist on other highly capitalized stocks due to portfolio restructuring. Hence, overall market performance to the remain mixed amidst positive sentiment and negative breadth
Market players should maintain a cautious outlook due to low confidence and liquidity, waiting for major economic triggers. Hence, we advise investors to trade cautiously in the short-term, with their gaze fixed on blue-chip stocks that are selling more than 40% below their 52 weeks high. As we look out for a positive catalyst to drive market recovery.

That notwithstanding, we would not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With the prices of major blue chips continuing to drop in recent weeks, we expect speculative trading to shape the market’s direction this week, despite the seeming negative outlook.

The sustained volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on the political space and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value and allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

https://investdata.com.ng/2019/05/expect-mixed-market-as-sell-pressure-on-high-caps-persists-portfolio-restructuring/

Investdata Daily Sentiment Report as at May 17, 2019

NSEASI buy 97% sell 3% volume index 0.98 MFI 8.74
Access buy 29% sell 71% volume index 0.88 MFI 48.84
Aiico buy 0% volume index 0.81 MFI 71.52
Chams buy 0% MFI 58.95
Dangcem buy 0% MFI 19.05
Dangflour buy 50% sell 50% volume index 0.79 MFI 80.28
Dangsugar buy 0% MFI 54.38
Eti buy 0% volume index 2.18 MFI 9.42
Fbnh buy 0% MFI 18.15
Fcmb buy 50% sell 50% volume index 2.12 MFI 43.84
Fidelity buy 0% MFI 23.05
GT buy 0% volume index 0.81 MFI 22.96
Japaul buy � MFI 54.05
Lasaco buy � MFI 46.16
Nascon buy � volume index 3.46 MFI 0.00
Oando buy 0% volume index 0.86 MFI 66.34
Regalins buy 0% volume index 4.57 MFI 66.26
Transcorp buy 17% sell 83% volume index 4.67 MFI 80.94
Uacn buy 67% sell 33% MFI 85.70
Uba buy 0% volume index 0.93 MFI 40.50
Ubn buy � MFI 71.38
Ucap buy 0% MFI 46.73
Uniondac buy � volume index 4.22 MFI 21.72
Wapco buy 0% volume index 1.19 MFI 26.64
Wema buy 20% sell 80% volume index 1.39 MFI 60.41
Zenith buy 0% volume index 0.76 MFI 26.45

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_20.html

Nigeria’s Currency-in-Circulation Soars N201.48bn YoY In April- CBN

Latest data published on the website of the Central Bank of Nigeria (CBN) Tuesday shows that the nation’s continues to be awash with liquidity as measured by currency-in-circulation, which jumped rose by N5.478bn or 0.25% to N2.158tr as at April 30, 2019.
According to the figures on the CBN website, currency-in-circulation, two months after the end of the 2019 general elections across the country stood at N2.158tr, up from N2.153tr at the end of the prior month.

The sustained rise may have led to the decision announced recently by the CBN Governor, Godwin Emefiele to relaunch the policy and even effect across the country, years after he suspended it to allow for penetration of financial inclusion across the country.
Year-on-year, the figure soared by N201.479bn or 10.29% from N1.957tr on April 30, 2018; while on a year-to-date basis, the currency-in-circulation within Nigeria, however, dropped by N171.008bn or 7.34%, compared to the N2.329tr reported for December-end, 2018. The December level remains the peak ever since.
Over the past 12 months also, the lowest quantum of currency-in-circulation is the N1.824tr reported by the CBN on July 31, 2018, it has however remained in the region of N2.1tr since November 2018, which remains the lowest since then.

The policy was introduced seven years as an initiative of the Bankers’ Committee and CBN, under Malam Sanusi Lamido, the then Governor (now Emir Mohammad Sanusi of Kano) in 2012.
The cashless policy was part of efforts to support the use of electronic payment channels, reduce service cost, increase tax collection, reduce leakages and enhance greater financial inclusion while engendering economic growth.

Under the policy, which pilot phase took off in Lagos and then five states with major commercial centres of Anambra, Abia, Rivers, Kano and Ogun, as well as Abuja, the Bankers’ Committee and apex bank sought to migrate payments to electronic channels, while penalizing customers for deposits and withdrawals above a particular threshold.

The policy was also meant to discourage the circulation of huge sums of money outside the banking system and reduce the huge currency management cost on the economy.
However, the CBN, perhaps for a lack of a political will has failed to implement punitive measures capable of reducing huge cash reliance across the country, especially among black market currency operators in strategic locations across major commercial centres in the country.

https://investdata.com.ng/2019/05/nigerias-currency-in-circulation-soars-n201-48bn-yoy-in-april-cbn/

NGSE Set To List 20.35bn Shares Of MTN Nigeria Thursday

The management of the Nigerian Stock Exchange (NSE) says it will list 20.35bn ordinary shares of MTN Nigeria Plc on the Premium Board, Thursday, May 16, 2019.

According to media reports, the shares will be listed at N80 or N90 each, boosting the NSE’s market capitalization by as much as N1.831tr, which makes it the second biggest company by market size.
A media invite by the NSE noted that MTN Nigeria management will explain facts behind the listing to capital market stakeholders, after performing the ceremonial closing gong
Reuters had earlier on Tuesday quoted two sources saying MTN aimed to list its Nigerian business on Thursday, after holding a meeting with analysts about its plans on Monday.

Also on Tuesday, Bloomberg had reported plans by MTN to raise about N200bn (about $555 million) this year from various sources, including bank loans and bonds to finance capital expenditure that will enhance the reach and efficiency of its network in Nigeria, quoting Chief Financial Officer Adekunle Awobodu.

https://investdata.com.ng/2019/05/ngse-set-to-list-20-35bn-shares-of-mtn-nigeria-thursday/

NGSE Indices Bleed Further, As Investors Await 2019 Budget Assent, Liquidity Crisis Worsen

Market Update for May 13
Trading on the Nigerian Stock Exchange remained very volatile and bearish on Monday, extending its six consecutive days of negative outing on increasing momentum of loss and strong selling pressure.
The NSE’s benchmark All-Share index was hard hit as most blue chip and all sectoral indexes suffered losses due to continued selloffs resulting from the mixed global economic outlook as the China-U.S trade war remains a potent threat.

In Nigeria, there are the impact weak market fundamental, insecurity and lack of economic direction still, ahead of the May 29 inauguration of President MuhammaduBuhari for a second term of four years. It however important to note that the 2019 budget is still awaiting Presidential assent to become law, just as investors are waiting to see the new cabinet members and the clearance of Godwin Emefiele as Central Bank of Nigeria (CBN) governor has not gone down well with some cartels.

The prevailing low liquidity and confidence have not helped matters as the number of companies exiting the market are higher than new entrants. Currently, 169 companies are quoted on the NSE, with nine new listings in five years, while 32 companies were delisted within the same period. Of this, six were voluntary de-listing, while 23 were regulatory, while three others were due to takeovers, mergers, and acquisitions.
Some other companies are already on the line to de-list for the reasons best known to them, knowing that the economy and operating environment have remained unfriendly.

Also, market development in the form of increasing participants or players have been poor since inception, today according to the NSE, there are just about three million Nigerian retail investors on the exchange out of a 180m population, the same number that has been bandied year-on-year, since the pas:t two decades, or more. It is not much of a big task for the NSE management to give real figures, rather than resorting the error of throwing numbers. Conscious efforts are also needed to grow the number as part of promoting financial inclusion, while enhancing confidence in the market and attract a new crop of investors, rather than depending on foreign or institutional investors to play the market that will develop our economy. We must, as a nation, stop paying lip service to matters of the capital market, economic development, and growth and do more on investment education. The Securities and Exchange Commission (SEC) and NSE must encourage the training of Nigerians to be wealth creators, rather than destroyers by collaborating with independent investment research training companies, enabling them to make more impact, rather than continually depending on foreign investors.

Monday’s trading started on the downside in the morning and extended to the mid-morning and afternoon session after banking and insurance stocks suffered losses that forced the NSE’s benchmark All-Share Index to touch an intra-day low of 28,434.44 basis points. This was after it broke down the strong support level of 28,500bps, from the day high of 28,876.87to close the day lower at 28,434.44bps.
Market technicals for the session were negative, as volume traded was lower than the previous day’s in the midst of negative breadth and high selling pressure, as revealed by Investdata’s daily sentiment report. Selling volume stood at 93% and buy position, 7% of the total daily transaction volume index of 0.50.

The momentum behind the day’s market performance was weak as shown by the Money Flow Index of 15.47 points, from previous day’s 23.72bps, indicating that more funds are leaving the market as selloff continue. This is coming ahead of next week’s meeting of the Monetary Policy Committee (MPC), and unfolding events in the political environment.

Index and Market Cap
The Composite Index NSEASIon Monday, lost 363.37bps to close at 28,484.44bps, after opening at 28,847.81bps, representing a 1.26% decline, just as market capitalization went down by N140.86bn, closing at N10.7tr from its opening value of N10.84tr, which also represented 1.30% depreciation in value. The day’s numbers were impacted by the delisting of the entire 634m ordinary shares of Newrest ASL from the market.

Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The continued downturn was as a result of selloffs in stocks like Dangote Cement, Nigerian Breweries, Guaranty Trust Bank, Zenith Bank, Stanbic IBTC, 11 Plc, Dangote Sugar, UBA, Access Bank, Oando, FCMB, and Wema Bank, among others. This impacted negatively on the Year-to-Date loss, which heightened to 9.37%, just as market capitalization decline soared to N1.24tr, or 8.77%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
All the sectoral indexes were in red, with NSE Banking and insurance having massive sell-offs that create new entry opportunities. Also, market breadth was negative in the ratio of 30:11.

Market activities were mixed as volume was down by 8.74% to 214.68m shares, as against Friday’s 235.23m units, while value went up by 104.71% to N2.78bn, from the previous day’s N1.36bn. The day’s volume was driven by conglomerates and financial services stocks UACN, GTBank, UBA, Sterling Bank and Transcorp
The best-performing stocks were Neimeth Pharm and Okomu Oil, which gained 10% each, closing at N0.55 and N77.00 per share, on the back of expected earnings and dividend income respectively. On the flip side, Chams and NEM lost 10% each, closing at N0.36 and N2.25, owing to profit-taking and market forces.

Market Outlook
We expect a slowdown and mixed performance to continue as market players reposition their portfolio ahead of the release by the National Bureau of Statistics (NBS) of the April inflation and Q1 GDP data, alongside the MPC meeting holding on May 20/21. More importantly, we expect that the government’s disbursement and implementation style in 2019 and beyond will change for good so as to drive the economy.
Investors look to government’s policy direction as the market faces low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.

The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.
The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

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https://investdata.com.ng/2019/05/ngse-indices-bleed-further-as-investors-await-2019-budget-assent-liquidity-crisis-worsen/

Commodities Market Key To Nigeria’s Economic Diversification, Says SEC

Acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduak, on Monday in Abuja, described the commodities trading ecosystem as an important market capable of playing a strong role in diversifying Nigeria’s economy from oil, which is being championed by the Muhammadu Buhari administration.

Uduak, who was speaking at a capacity building workshop for judges and top management staff of the Investment and Securities Tribunal (IST), noted the importance of enhancing the market’s efficiency, growth, and competitiveness.
This, she believes, will better position it to also play a strong enabling role in such areas as food security and employment generation, besides other benefits in promoting commodities exchanges and the ecosystem in general as they provide a transparent pricing mechanism.

The acting DG, who was represented by the Acting Executive Commissioner Operations at SEC, Isyaku Tilde, also identified other benefits as promoting the attractiveness of agribusiness, fostering financial inclusion and improving quality of agricultural output and profitability, as well as government revenue.

It is also expected to enhance the wellbeing of the farming communities and help reduce rural-urban drift.
Recall that the Acting DG recalled that the commission, as part of its implementation of the 10-year Capital Market Master Plan, constituted a Technical Committee on Commodities Trading Ecosystem whose mandate was to identify challenges of the existing framework/infrastructure and develop a roadmap for a vibrant ecosystem.

“The Technical Committee set up to develop a roadmap for reviving the Commodities Trading Ecosystem came up with over forty (40) recommendations to be implemented in 4 phases between 2018 and 2025; the report also observed the knowledge gap that exists within the ecosystem and recommended the need for capacity building on the Commodities Trading ecosystem to stakeholders and to the general public,” she stressed.

To ensure the implementation of these initiatives, the SEC constituted an Implementation committee consisting institutional members to drive the process, following which Monday’s training for the IST has become necessary to enable it effectively carry out its statutory function given its jurisdiction over securities-related matters, which includes the commodity trading market.

The successful implementation of the Technical Committee’s report she said, will undoubtedly lead to more activities in the market and this will result in disputes.
“Therefore, to effectively make informed decisions on commodities market-related disputes, the judicial and non-judicial staff of the Tribunal requires the basic knowledge on the Commodities Trading Ecosystem.
“It is without a doubt that investors’ protection is at the heart of market regulation. This implies that the most important participant in the capital market is the investor hence the overriding need for strong regulation and adequate safeguards coupled with an efficient dispute resolution mechanism” she added.
Commenting on the training, Chairman of IST, Siaka Isaiah Idoko-Akoh, commended the SEC for organizing the training, adding that with the way the market is progressing; commodity market has become a very important aspect.

“As the market grows, so will dispute by investors and we need to be adequately prepared to be able to resolve such matters. We have seen how Commodities exchanges have grown in other jurisdictions and we hope we will have more interface like this one to assist in moving the nation’s economy forward.

The Ecosystem is an organized commodities market consisting of multiple players that interact to form the agricultural value chain. They include commodity exchanges, farmers, merchants, aggregators, processors/producers, commodity market operators, warehouse operators, collateral managers, banks, insurance companies, clearinghouses, and logistics companies.

The Commodity Trading ecosystem provides a sophisticated human interaction of which the inevitable disputes will call upon the IST.

https://investdata.com.ng/2019/05/commodities-market-key-to-nigerias-economic-diversification-says-sec/

Investdata Daily Sentiment Report as at 15 May, 2019

NSEASI buy 23% sell 77% MFI 8.34
Access buy 83% sell 17% volume index 0.91 MFI 49.89
Chams buy 0% MFI 60.07
Dangflour buy � MFI 87.30
Dangsugar buy � volume index 1.29 MFI 51.06
Eti buy 0% MFI 13.21
Fbnh buy 43% sell 57% MFI 27.54
Fcmb buy 0% MFI 50.00
Fidelity buy � MFI 39.61
Fmn buy � MFI 2.68
Honyflour buy 0% MFI 36.31
Japaul buy � MFI 67.66
Linkass buy � volume index 1.65 MFI 24.74
M&B buy � volume index 1.06
Oando buy � MFI 61.67
Regalins buy � volume index 1.61 MFI 60.72
Seplat buy � volume index 1.10 MFI 83.17
Transcorp buy � MFI 62.86
Uacn buy � volume index 1.17 MFI 74.14
Uba buy 0% volume index 0.83 MFI 43.67
Ucap buy 89% sell 11% volume index 0.87 MFI 44.96
Wapic buy � volume index 1.53 MFI 43.38
Zenith buy 80% sell 20% volume index 1.25 MFI 37.72

Jumia shares continue to slide
After a bad day on the New York Stock Exchange on Thursday, the price of shares in the Nigeria-based e-commerce company has continued to fall.

At $20.20 (£15.50) a share, the price is now nearly 25% lower than at the start of trading on Friday.

google copyright: Google
Jumia shares were hit hard by an investor report by Citron Research that questioned whether the company was worth anything and alleged that investors had been misled.

But as Quartz online magazine points out "it’s not the first time Citron has made similar claims... against a publicly traded company... and its founder, Andrew Left, has faced some repercussions."

https://www.bbc.com/news/live/world-africa-48171470

NGSE Bear-run Leaves Blue-chips Trading Below 52-Week High, Amidst Low Liquidity


Market Update for the week ended May 10 and Outlook for May 13-17
Equity markets across the globe witnessed a bearish trend as the trade dispute between China and U.S escalated during the week, following the seeming breakdown in the discussion, following which new taxes were imposed on Chinese products early Friday. This was despite the scheduled meeting between both nations this week.

The Nigerian Stock Exchange (NSE) bled throughout last week due to selling pressure, continuing three consecutive weeks of decline which is gradually pushing the market into a two-year low on negative sentiments and weak market fundamentals.
Not even the just concluded 2019Q1 earnings season, or the full-year before it, made an impact on the indicators, given that the numbers were mixed, and even beclouded by anxieties that followed the general elections, beginning with that of the President and National Assembly on February 23, 2019. Investors and traders were also not swayed by mid-Thursday’s news of the news of reappointment of Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) for another five-year term, the first since 1982, by President Muhammadu Buhari (READ MORE).
It is however not impossible that investors were still digesting the announcement of Emefiele’s reappointment, vis-à-vis other economic indices.
Besides the weak market fundamentals that have negatively impacted the NSE’s composite index, there are factors such as low investor confidence, poor liquidity and the corporate earnings that came below market expectation. The market, therefore, needs a spike in form of positive news, amidst the market’s prevailing low Price/Earnings Ratio, which discerning investors and traders should take advantage of, especially blue-chip stocks which have suffered significant decline.

Also, the Federal Government had pledged to partner the NSE in the privatization of some public enterprises, which is expected to result in more companies becoming listed and in the process offering investors more options, in addition to contributing to the Ease of Doing Business (READ MORE).
The market is also anxiously awaiting the listing of MTN Nigeria shares by introduction on the NSE, which will further broaden the market and give investors more choices (READ MORE).
Meanwhile, the nation’s key economic indicators remain positive, with inflation rate dropping to 11.25%; just as the Monetary Policy Rate (MPR) was cut to 13.5%, while external reserves as at May 8, stood at $44.843bn. Also noteworthy is oil price selling above $70 per barrel, as at Thursday, just as the National Bureau of Statistics (NBS) is billed to publish the April consumer price index and Q1 GDP numbers May 20.

Movement Of NSEASI
Last week, the NSE’s benchmark All-Share index recorded an unimpressive outing, closing negative in all of the five trading sessions, losing 1.25%, after the previous week’s 1.78% decline. The loss brought year-to-date loss to 8.22%, which reveals the presence of juicier opportunities in the market, looking at it 52 weeks high and low.
Insurance stocks dominated the advancers table, despite the announcement of late filing by stocks in the sector and price adjustment for dividends proposed by their directors. Also, sell pressure continued in highly capitalized equities and blue-chip stocks, due to weak Q1 numbers.
The momentum behind the week’s performance was weak, as shown by the money flow index at 23.83 basis points, compared to 23.77bps in the previous week. This is indicating that funds are leaving the market, just as the sell position stood at 74% and buy volume, 26% on a transaction volume index of 0.94.

NSEASI Weekly Time Frame
The NSE Index action continues to pullback for the week, on a high traded volume and breakdown of this last Fibonacci retracement level that’s support will lead to lower lows, also reversal at this triple bottom formation is high depending on market forces. But looking at the negative sentiments that had dominated the market as MoneyFlow index is looking down. And, at the same time, NSEASI is trading below its 20-Day Moving Average and MACD is bearish. But the index touched the lower Bollinger bands signals ‘buy’ as reversal remains imminent.

Bearish Sectoral Indices
All the sectors suffered heavy losses with the NSE Oil/Gas shedding 5.3%, followed by banking with 2.8%; and Insurance, Industrial and Consumer goods closed 1.7%, 0.4% and 0.2% lower respectively. This reflected the selloffs irrespective of the positive news and expectations of fiscal stimulus. Market breadth was negative with decliners outnumbering advancers in the ratio of 49:19, to extend the down market.
Turnover for the period stood at 1.47bn shares worth ₦10.58bn in 17,603 deals, in contrast to a total of 1.47bn shares valued at ₦15.49 billion that exchanged hands last week in 18,090 deals.

Beta Glass and Courtville were the best-performing stocks for the week, topping the advancers’ chart with 23.1% and 13.6% gains respectively, closing at N68.95 and N0.25 per share on low price attraction and market forces respectively. On the other hand, Goldlink Insurance and Japaul Oil lost 36.1% and 33.3% respectively, closing at N0.23 and N0.26, on market forces and profit-taking after the recent rally.
During the week also, the prices of Caverton, Prestige Assurance, Aiico Insurance, and Consolidated Hallmark insurance were adjusted for a dividend of 25kobo, 3 kobo, 6 kobo, and 2kobo respectively, as proposed by their directors.
Given that the NSE is trading at its two-year low indicates that many equities on the NSE are undervalued, offering investors juicy entry opportunities to discerning investors.

Market Outlook
We expect the mixed performance to continue this week, despite CBN governor’s reappointment and expected key economic data, as market players maintain a cautious outlook due to low confidence and liquidity, waiting for major economic triggers. Hence, we advise investors to trade cautiously in the short-term, with their gaze fixed on blue-chip stocks that are selling more than 40% below their 52 weeks high. As we look out for a positive catalyst to drive market recovery.

That notwithstanding, we would not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With the prices of major blue chips continuing to drop in recent weeks, we expect speculative trading to shape the market’s direction this week, despite the seeming negative outlook.
The sustained volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on the political space and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value and allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

Take Action
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set. The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/05/ngse-bear-run-leaves-blue-chips-trading-below-52-week-high-amidst-low-liquidity/

HOW TO WALK TALL AS A WOMAN...

It's great being a woman. I'm glad I'm not a man. No, men are great, women are great. I'm just happy I came here as a womb-man, it's been fantastic all the way!

You can be a great woman. A woman filled with purpose, passion and strong self esteem. You can be a force to be reckoned with -a world shaker, a phenomenon, an enigma, a leader, a wealth commander, a business tycoon, a great writer, speaker, preacher, wife and mother. With God, nothing is impossible!

To start with. You've got to have a purpose for your existence. Why are you here? To marry, have children, grand children and then die? Come on, life is more than that or else God wouldn't create you so uniquely.

Some ladies only dream of marrying a rich man who builds them a big house, buys them a fashion car and one with whom they have fabulous kids. No! Life is more than that!

You need to ask yourself this question. "Why I'm I here? Why did God create me? What's my purpose for existence?"

What drives you is the reason why you are here. That burning passion in your heart. Those gifts, that talent, that unique motivation is the reason why you are on earth.

You don't need to go far to know God's will for your life. You don't need to hear a thunder from heaven. God attaches your calling to your talent, passion and gifting. He gave you unique strengths and abilities. There are things you find very easy to do no matter how difficult it is for others. Some things drive you to tears while others laugh it off. For instance, a woman who God wants to raise orphans may weep at the sight of an abandoned baby while others just watch or rain curses on it's mother.

It is after discovering your gifts, developing them to a high standard and making good use of then will you feel great, fulfilled and on top of the world. Your self esteem sky rockets and you begin to walk tall as a woman. You don't need any man before you feel great, you are already great baby!

I shall be concluding the second part tomorrow on discovering and fulfilling your purpose.
© Seun Oladele, 2017; reposted,2019

TALK ABOUT SEX!

I don't know why people don't discuss their sex life in courtship until the wedding night then start having serious problems.

Courtship is a period of assessment, evaluation, discovery and facts finding. Discuss everything under heaven and be very sure of what you are getting into before you say "I DO".

If you have a high libido, tell your partner so they can know how to satisfy you in marriage. You don't need to go into unnecessary details if that will turn you on. If you prefer sex three times daily, tell them so you won't develop hypertension when you marry and discover your spouse hates sex.

If you like French kissing, deep kissing, Mouth Action, different sex styles: doggy, missionary, sitting, standing, reversed missionary, cowgirl, reversed cowgirl or whatever, tell them. If you you are okay with a single sex style all your married life, tell them.

I don't have any sexual problem in marriage. I and hubby are super compatible and sex life rates an A. We both love making out and that's great. We never had a single sex in 5 years courtship. Our first sex was on the wedding night but we ironed out sexual issues before we got married and that helps a lot.

Virginity is no excuse to fail woefully in marriage. Let him know how you want to be treated on the wedding night. It's not compulsory sex must happen on the wedding day. You can do heavy pre-intimacy for 3 days, set the chemistry in motion and gently, slowly, go down there. Breaking the hymen don't have to be an explosion, with lubricants, heavy pre-intimacy, sweet perfume, dim light, romantic music and some seduction, you should enjoy your first sex. By the time you do it 3 times in one day, your body should fast adjust to that.

I don't know why some people like to make sex scary for the first timers. You should look forward to sex not run away from it that is why you are saving your virginity -to enjoy maximum sex in marriage.

WORD OF CAUTION: Don't discuss your sex life until you are sure that guy is gonna marry you and it's few months to your wedding. You can't be discussing sex with every Tom, Dick and Harry. Be sure they are the one you want to marry, they respect you and won't take advantage of you. Your number 6 should tell you when a man is in a relationship purely for sex or he realy means business. If he is always hitting you for sex, end the God forsaken relationship!

This post does not encourage pre-marital sex. Sex is strictly for the married.

See a marriage counsellor before you tie the knot. They should open your eyes to things you are not seeing.

Prepare to enjoy mind blowing sex in marriage. That is God's will for you. God bless you. Cheers!
©Seun Oladele, 2017; reposted, 2019.

BEFORE YOU ENTER ONE CHANCE!

Marriage is commitment for life! Look at him very well now. If you hate his hair cut and the ear ring on his ear, don't marry him my sister.

There is a woman who will fall madly in love with his jewelries and jump into his waiting arms. Loose him and let him find her on time!

If you hate her eyelashes or big size, in the name of Jesus Christ of Nazareth I beg you, let her go! There are men dying for big ladies and artificial eyelashes! Let her find her prince charming on time please! Don't cage her and make her miss her own man who will literally bow at her feet, love, honour and cherish her for life!

Marriage is a life time commitment! Once you have entered, you have entered. What you hate, you will endure it forever! What you love you will enjoy till Jesus comes. Choose the one you want.

May you not mis-choose in Jesus' name!

Thanks for reading. God bless you, cheers!
© Seun Oladele, 2019.

Did You See This?

Ambrose Here Again...

It is very common that we follow the crowd. This is a normal phenomenon because it is what we came and met in this world.

However, for you to forge ahead in life and achieve your financial goals, you should.

1. Plan
2. Don't Conform
3. See failure as a temporary defeat.

Frankly, research of 20years revealed that the reason why most people don't achieve their goals in life as an employee, employer, business owner, trader etc. is simply because we don't think

So, following the crowd or conforming is less resistant. No stress attached at all.

However, if you don't think, then you cannot plan. If you don't plan for your life, then you plan to fail. Well, you can argue this with me but let's examine the facts.

I don't really know your job function or role but what I can tell you is that there is a better way of doing your job and you won't finish exploring it in your lifetime. Don't join the herd or conformity and say why should you I stress myself.

Furthermore, don't join the crowd and say for instance, what I have learned so far is not relevant to me for now. Instead think and plan how it can be useful in achieving the purpose you got it.

Although, I am sure that you want to become the best in your field because if you study 8hours daily for the next 5 years, you automatically become an expert in your field.

Furthermore, the current status of the Stock Market is a temporary defeat. It is according to German philosopher G.W.F Hegel a negation of the current Market and this will finally result in synthesis. The question is are you prepared for it?

Get prepared with the

1. Buying and Selling Signal Subscription.
2.The ABC Technical Analysis for Novice and Advance Trader Workshop Training Videos
3. InvestData post Election Bulls and Bears Workshop Videos.
Call Now 08028164085,08032055467

Dedicated to Your Financial Success,
Ambrose Omordion

https://investdataltd..com/2019/05/did-you-see-this.html

NGSE Index Slip 7.43% YTD, As Investor Confidence Slips Lower Ahead Presidential Inauguration


Market Update for May 7
The Nigerian Stock Exchange (NSE) closed lower on Tuesday, wiping away the seeming gains recorded so far in the first few days of May on a high traded volume, following price losses suffered by blue-chip stocks to extend the negative outing on the exchange.
The lingering insecurity and confidence crisis ahead of May 29, 2019 inauguration of President Muhammadu Buhari’s government for a second term, in the midst of economic reforms policy, even as investors await the announcement of a new cabinet, which have further dampened investor confidence. This has not been helped by the falling oil prices due to fear of a slowdown in the global economy owing to the escalating trade war between the U.S and China. Also, the five-year tenure of Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) ends on June 3, 2019, coinciding with the second term inauguration of President Buhari, a fact that has kept many investors on edge, especially as it regards what to expect from the coming CBN Governor.
While it is almost certain that Emefiele will not be reappointed, just as none of his predecessors has received a second term, in the 20 years since 1999, when the then newly inaugurated President Olusegun Obasanjo, appointed Chief Joseph Sanusi to the top job, to replace Dr. Paul Ogwuma who was governor between 1993 and 1999, unconfirmed sources say the President will name Mrs. Aishah Ahmad the new CBN Governor, the first woman to occupy the position. the sideline waiting to see who replace the outgoing governor come June 4, 2019.
Also of concern to watchers of Nigeria’s economy is her rising debt profile and cost of servicing, even as the 2019 budget awaits Presidential Assent is a serious concern for foreign and local investors.
Trading on the NSE opened on the downside in the morning session, which oscillated in the mid-morning to the afternoon on the selloff in all sectors, resulting in increased the losing momentum before finishing the day lower at 29,096.41 basis points. This was after touching intraday low of 29,091.6bps from its high of 29,208.63bps, which was above the opening figure of 29,197.41bps.
Market technicals for the session were negative and mixed, with traded volume higher than previous day’s in the midst of negative breadth and selling pressure as revealed by Investdata’s daily sentiment report, as selling position was 96% and buy volume, 4% of the total daily transaction volume index of 1.03.
The impetus behind the day’s market performance was weak as shown by Money Flow Index of 38.16 points, from previous day’s 45.48bps, indicating that funds are still leaving the market, as investors wait to see the 2019Q1 GDP and other economic indicators for April as things unfold politically and economically.

Index and Market Cap
The benchmark NSE All-Share Index on Tuesday fell by 100.46bps to close at 29,096.41bps, after opening at 29,197.87bps, representing a 0.34% decline, just as market capitalization dropped by N37.74bn, closing at N10.94tr, compared to its opening value of N10.97tr, which represented 0.34% depreciation in value.
Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.
The downturn for the day was driven by selloffs in Nigerian Breweries, Zenith Bank, UBA, Dangote Flour, Dangote Sugar, Oando, Flour Mills, Honeywell, Transcorp and Wema Bank, among others. This impacted negatively on the Year-to-Date loss, bringing it to 7.43%, just as market capitalization decline increased to N785.1bn, or 6.70%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
All sectoral performance indices closed red for the session, except the NSE Industrial Goods that closed up by 0.34% due to bargain hunting in Beta Glass. Market breadth was negative as decliners outnumbered advancers in the ratio of 32:11.
Market activities in volume and value were up by 58.73% and 103.97% respectively to 430.27m shares worth N2.83bn, as against the previous day’s 271.08m units valued at N1.39bn. Volume was driven by Courtville, Japaul Oil, Access Bank, UBA and Zenith Bank, as investors continue to digest recently released Q1 number and filter news and rumors in the mills while watching the fiscal space for market sensitive hints.
Beta Glass and Courtville were the best-performing stocks for the day, gaining 10% and 8.33% respectively to close at N62.70 and N0.26 per share, on market forces. On the flip side, Dangote Flour Mill and Ikeja Hotel lost 9.86% and 9.38% respectively, closing at N16.00 and N1.45, on profit taking and market forces.

Market Outlook
We expect this mixed performance to continue as market players digest the Q1 numbers in expectation of April inflation and Q1 GDP data, alongside the new cabinet list now that the 2019 budget has been passed. More importantly, we expect that the government’s disbursement and implementation style in 2019 and beyond will change for good so as to drive the economy.
This will complement ongoing efforts by the Central Bank of Nigeria (CBN), which on Monday, in its efforts at enhancing lending to the MSME sector, announced details of an initiative that will lead to improved funding of the nation’s fledgling creative sector, in partnership with the Bankers Committee.
Meanwhile, the NSE index on the daily time frame is forming a double bottom that supports reversal, but let us wait for confirmation as trading opens this morning.
Investors look to the government’s policy direction as the market faces low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.
The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

TAKE ACTION
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set. The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/05/ngse-index-slip-7-43-ytd-as-investor-confidence-slips-lower-ahead-presidential-inauguration/

MTN To List Shares By Introduction, Says SEC

The Securities and Exchange Commission (SEC), on Wednesday confirmed that it indeed received and approved an application to register shares of telecoms giant- MTN Nigeria last week.
A statement by the commission quoted Acting Director General of the SEC, Ms. Mary Uduk as saying that “MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted”.
MTN had on Tuesday announced the registration of 20.4bn ordinary shares by the SEC.
The move by MTN, according to the SEC, “is a further indication of the determination… to work with companies that are interested in the capital market.
“We believe that this will also encourage other service providers to come to the market,” the commission added.

https://investdata.com.ng/2019/05/mtn-to-list-shares-by-introduction-says-sec/

Mixed Performance Ahead, But Reversal Imminent, As NGSE Forms Double Bottom


Market Update for May 8
Equity prices on the Nigerian Stock Exchange (NSE) closed down again at midweek as selloffs continued, because market operators have since activated their cautious mode amidst the prevailing uncertainties, in the absence of any news in the offing capable of inspiring hope that the administration has plans to reinvigorate the economy and rather allow the ship to twist and turn.
Until then, there is the rising confidence crisis and low market liquidity arising from the fact that smart investors have earlier exited, triggering a flight to safety, seeking solace in the money and fixed income market that continues to experience a boom.
On the political front, the Presidential Election Tribunal began sitting also on Wednesday, and has fixed next week for hearing on the suit by the main opposition Peoples Democratic Party (PDP) and its candidate, challenging the outcome of the February 23 Presidential election which returned President Muhammadu Buhari for a second term of four years.

However, Professor of Finance & Capital Market, and head, Banking and Finance Department, Nasarawa State University, Keffi, Uche Joe Uwaleke, wants investors to take advantage of prevailing low equity prices on the NSE to boost their returns on investments thereby taking advantage of an imminent market reversal, which he forecast could happen by end of second quarter. He listed factors that could drive the recovery to include a possible lowering of the benchmark Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), rising oil price and the continued stability in foreign exchange (FX), among others (READ MORE).
Meanwhile, Wednesday’s trading started with a slight move to the upside in the morning session into midday, before oscillating between gains and losses by the afternoon trading, with the NSE All-Share Index touching intraday lows of 28,946.91 basis points. It, therefore, broke down the 29,000bps psychological line from 29,115.3bps on above-average traded volume to extend a 3-wave decline, to finish the session lower at 28,966.41.

Midweek’s market technicals were negative and mixed, with traded volume lower than previous day’s in the midst of flat breadth and selling pressure as revealed by Investdata’s daily sentiment report, with selling volume at 88% and buy volume- 12% of the total daily transaction volume index of 0.77.
The momentum behind the day’s market performance was weak as revealed through the Money Flow Index of 32.33 points, from previous day’s 38.16bps, indicating that funds continue to leave the market, as investors wait to see the 2019Q1 GDP and other economic indicators for April, even as things continue to unfold in the politico-economic space.

Index and Market Cap
At the end of the day’s trading, the composite NSEASI dropped by 130.00bps, closing at 29,096.41bps, after opening at 29,096.41bps, representing a 0.45% decline, just as market capitalization was down N48.86bn, closing at N10.89tr, compared to its opening value of N10.94tr, which also represented 0.45% value loss.
Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.

The continued downturn at midweek was attributed to selloffs in high cap stocks like Dangote Cement, 11 Plc, Nigerian Breweries, Guaranty Trust Bank, Zenith Bank, UBA, Access Bank, Dangote Sugar, Flour Mills, and Wema Bank, among others. This impacted negatively on the Year-to-Date loss, bringing it to 7.43%, just as market capitalization decline increased to N833.96bn, or 7.19%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
All sectoral performance indices closed lower for the day, except the NSE Consumer Goods that was 0.12% in the green, while market breadth stayed flat, as decliners equaled advancers in the ratio of 21:21.
Market activities were mixed as volume dropped by 24.57% to 324.81m shares, as against the previous day’s 430.27m units, while value climbed 14.37% up from N2.83bn on Tuesday to N3.24bn. The day’s volume was driven by UBA Plc, Access Bank, Sterling Bank, Zenith Bank, and Courtville Business Solutions.

The best-performing stocks during the session were Beta Glass and livestock Feeds, which gained 9.97% and 6.73% respectively, closing at N68.95 and N0.63 per share, on the back of market forces. On the flip side, Goldlink Insurance and Chams lost 10% and 9.43% respectively, closing at N0.27and N0.48, on market forces and profit taking respectively.

Market Outlook
We expect this mixed performance to continue as market players digest the Q1 numbers in expectation of April inflation and Q1 GDP data, alongside the new cabinet list now that the 2019 budget has been passed. More importantly, we expect that the government’s disbursement and implementation style in 2019 and beyond will change for good so as to drive the economy.
This will complement ongoing efforts by the Central Bank of Nigeria (CBN), which on Monday, in its efforts at enhancing lending to the MSME sector, announced details of an initiative that will lead to improved funding of the nation’s fledgling creative sector, in partnership with the Bankers Committee (READ MORE).
Meanwhile, the NSE index on the daily time frame is forming double bottom that supports reversal, but let us await confirmation as trading opens this morning.

Investors look to the government’s policy direction as the market faces low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

TAKE ACTION
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life-transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT, CHART SUMMIT, and POST ELECTION BULLS & BEARS Home study pack (USB) that you can play on your phone, Laptop and Television set. The events were a successful, insightful and educative outing that not only offered direction as to where investors should look for profitable trade in 2019 and beyond, insight into industries, sectors, and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with the possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/05/mixed-performance-ahead-but-reversal-imminent-as-ngse-forms-double-bottom/

MTN registers 20 billion shares with SEC

MTN Nigeria Communications Plc (MTN) says it has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC).

Ferdie Moolman (pictured), MTN’s chief executive officer, made this known in a statement released in Lagos on Tuesday.

Moolman said the completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE).

“I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process.

“We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,’’ he said.

Moolman said that MTN was guided by a vision to lead the delivery of a bold new digital world, saying that MTN Nigeria’s leadership position in coverage, capacity, and innovation had remained constant, since its launch in 2001.

The company recently changed its status from a private company to a public limited company in preparation for its listing on the Nigerian Stock Exchange. The company says it hopes to complete its listing by introduction on the exchange by July.

https://investdataltd..com/2019/05/mtn-registers-20-billion-shares-with-sec.html

Investdata Daily Sentiment Report as at May 9, 2019

NSEASI buy 12% sell 88% volume index 0.77 MFI 32.33
Access buy 0% volume index 1.93 MFI 74.39
Aiico buy � volume index 1.23 MFI 75.17
Beta buy � volume index 8.64 MFI 86.42
Caverton buy 0% MFI 91.88
Chams buy 0% MFI 79.40
Cutix buy 0% volume index 0.82 MFI 57.63
Dangcem buy 0% MFI 28.55
Dangflour buy 76% sell 24% volume index 0.98 MFI 90.22
Dangsugar buy � MFI 67.20
Fbnh buy � MFI 42.98
Fcmb buy 0% volume index 0.71 MFI 62.30
Fidelity buy � MFI 42.10
Fmn buy 0% MFI 8.12
GT buy 0% volume index 0.78 MFI 34.20
Mben buy � MFI 69.79
Oando buy 67% sell 33% MFI 60.23
PZ buy 0% volume index 2.81 MFI 30.03
Regalins buy 0% volume index 2:77 MFI 52.90
Sterling buy � volume index 1.45 MFI 41.50
Transcorp buy � MFI 65.80
Uacn buy � MFI 63.89
Uba buy 0% volume index 2.56 MFI 58.50
Ubn buy � MFI 3.36
Ucap buy 0% MFI 32.64
Uniondac buy � volume index 0.82 MFI 38.17
Vitafoam buy � volume index 0.77 MFI 66.15
Wema buy � MFI 47.83
Zenith buy 13% sell 87% volume index 1.51 MFI 34.07

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_9.html?m=1

Investdata Daily Sentiment Report as at May 9, 2019

NSEASI buy 4% sell 96% volume index 1.03 MFI 38.15
Access buy 80% sell 20% volume index 3.08 MFI 85.92
Aiico buy 0% volume index 1.55 MFI 82.70
Cadbury buy 8% sell 92% volume index 1.63 MFI 65.01
Caverton buy 0% volume index 0.82 MFI 92.90
Ccnn buy � MFI 2.08
Chams buy � MFI 87.08
Dangcem buy 0% volume index 1.46 MFI 28.01
Dangflour buy 0% volume index 1.28 MFI 89.87
Dangsugar buy 0% MFI 67.64
Eterna buy 0% MFI 43.70
Fbnh buy � MFI 37.60
Fcmb buy � MFI 67.97
Fidelity buy 50% sell 50% volume index 0.79 MFI 36.06
Fmn buy 0% volume index 1.42 MFI 7.25
GT buy 0% volume index 1.10 MFI 40.84
Honyflour buy 0% volume index 2.00 MFI 37.86
Japaul buy 0% volume index 3.19 MFI 72.50
Lasaco buy � MFI 60.25
Lvstk buy 67% sell 33% volume index 2.44 MFI 48.50
M&B buy 0% volume index 2.58 MFI 40.48
Nahco buy 0% volume index 4.11 MFI 23.94
Nem buy 39% sell 61% volume index 7.35 MFI 97.98
Oando buy 25% sell 75% volume index 1.36 MFI 60.04
PZ buy 0% volume index 2.41 MFI 56.36
Regalins buy 0% volume index 3.54 MFI 68.88
Sovereins buy 0% MFI 26.04
Transcorp buy 0% MFI 66.30
Uacp buy 0% volume index 1.11 MFI 60.36
Uacn buy 80% volume index 2.01 MFI 62.91
Uba buy 0% volume index 1.87 MFI 47.06
Ucap buy � volume index 1.00 MFI 34.45
Wapic buy 0% volume index 3.09 MFI 35.91
Wema buy 0% MFI 49.75
Zenith buy 0% volume index 1.06 MFI 39.55

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_8.html

Update: SEC Confirms Receipt Of Application From MTN Nigeria

After months of delay, Nigeria’s Securities & Exchange Commission (SEC) says it has received an application from South Africa based telecommunications group- MTN requesting for registration of its existing securities.

The listing on the NSE is a condition for settlement of a $1bn regulatory fine three years ago by the Nigerian Communications Commission (NCC), primary regulator of the nation’s telecoms sector.
A terse statement by Mrs. Efe Ebelo, spokesman of the commission said the company, Africa’s biggest mobile-phone company by subscribers, has “applied for listing by introduction,” preparatory to being listed and its shares trade-able on the floor of the Nigerian Stock Exchange.
The application, she stressed, “is presently receiving attention.”
The statement, therefore, confirms a story by Bloomberg last week citing “two people familiar with the matter.”
MTN Group had last Friday appointed Emir of Kano, Muhammadu Sanusi II, and two others, to its board on Friday as part of preparations for the listing and after converting its Nigerian unit into a public company last week (READ MORE).

https://investdata.com.ng/2019/05/update-sec-confirms-receipt-of-application-from-mtn-nigeria/

PLANNING IS EVERYTHING

This is Shocking...

It is Ambrose Again.

There are many instances where you have heard about top 5% of successful people. I am not talking about people who get favors from Government. But people who became financially independent through Conscious habit and effort.

To buttress further, according to Earl, 100 men of 25 years of Age. The world is ahead of them and each has an equal opportunity as the rest.

The question is, what would have happened to these 100 young men by the Time they are 65 years of age. In other words, let's take the hands of time into the future.

Well, here is the statistics by the time they are 65years. 1 will be rich, 4 will be financially independent, 5 will be working, 54 will be dependent on others.

Asking if you want to join the 5% is an unnecessary question because who does not want to.

Frankly, if you want to become anything in life, you just need to focus on 8 hours a day for 5 years and you will be become an expert. If that is the case, what happened to the 54 men who spent 40years of active work and are still dependent.

How is this possible?

financial independence is not a matter of hope but a matter of planning and not conforming to the crowd.

I have done a lot to ensure that you plan and don't conform. Because without knowledge, you cannot plan, without knowledge, you will always conform. The common saying is that that, the one I learned is still there. However, don't forget that life is always teaching you. So, as a serious investor, you can never stop learning by investing in our

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https://investdataltd..com/2019/05/planning-is-everything.html

*Reminder to Shareholders of Diamondbank Plc!!!*

Kindly be reminded that shareholders of Diamond Bank Plc are required to take the necessary steps to ensure the accuracy of their personal details (Full name, address, email address, mobile number and BVN) with the registrars of Access Bank PLC.

This is subsequent to the Court Sanction of the Scheme of Merger between Access Bank PLC and Diamond Bank Plc, wherein the shareholders of Diamond Bank Plc will receive the Scheme Consideration of cash and shares; as stipulated in the Scheme Document.

Hence, shareholders should kindly download and complete the “Diamond Bank Shareholder Mandate Form”. Here: https://www.unitedsecuritieslimited.com/uploads/files/DiamondBankShareholderUpdateForm.pdf

The completed Shareholder Mandate Forms may be returned online to info@unitedsecuritieslimited.com or directly to the offices of: United Securities Limited. Plot 009, Amodu Ojikutu Street, Off Saka Tinubu, Victoria Island, Lagos.

Investdata Daily Sentiment Report as at May 7, 2019

NSEASI buy 84% sell 16% MFI 45.48
Access buy � volume index 0.87 MFI 80.61
Aiico buy 0% volume index 0.96 MFI 93.86
Caverton buy � MFI 92.61
Ccnn buy � MFI 1.79
Dangflour buy 52% sell 48% volume index 1.46 MFI 95.19
Fbnh buy � MFI 31.19
Fcmb buy � MFI 69.34
Fidelity buy 33% sell 67% MFI 47.37
GT buy 0% MFI 47.07
Jaiz buy � volume index 8.63 MFI 22.64
Japaul buy 0% volume index 3.37 MFI 83.80
Lasaco buy 0% MFI 64.35
Nem buy � volume index 1.95 MFI 88.07
Oando buy � volume index 1.05 MFI 66.96
Sovereins buy � volume index 0.93 MFI 24.76
Sterling buy � MFI 30.26
Transcorp buy 60% sell 40% volume index 0.91 MFI 69.66
Uba buy � volume index 1.75 MFI 53.33
Ucap buy 0% MFI 28.99
Wapic buy � volume index 1.00 MFI 20.37
Wema buy 50% sell 50% MFI 49.97
Zenith buy 55% sell 45% MFI 38.21

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_7.html