₦airaland Forum

Support and Resistance

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.

Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.

When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html[font=Lucida Sans Unicode][/font]

Support and Resistance

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.

Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.

When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html[font=Lucida Sans Unicode][/font]

Support and Resistance

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.

Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.

When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html[font=Lucida Sans Unicode][/font]

Support and Resistance

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.

Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.

When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html[font=Lucida Sans Unicode][/font]

Support and Resistance




Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.
Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.
When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html

GTC ORDER


Do you know what a GTC order is?

GTC simply means Good Till Cancelled. A good till cancel order is an order placed by an investor/ trader to buy or sell a stock at a specified price,of which the price remains active until it is either canceled by the investor/ trader or the trade is executed.
It offers an alternative to placing a sequence of day orders which expires at the end of each trading day.

GTC orders are commonly set to expire within a week to a month after trade are entered on the floor of Nigeria Stock Exchange.

Simply put, GTC orders provide investors/traders the convenience of placing orders at specified price points,which can also be referred to as limit orders,that remains in force until they reach an expiration date, either they are executed or are canceled. These orders can be entered to buy or sell stock, or as stop orders.

Investdata Academy
https://investdataltd..com.ng/2018/04/gtc-order.html

Fuel Retailing, Power Segments Lift Forte Oil Profit To N2.96bn


The board of Forte Oil Plc, on Monday presented its unaudited financials for the first quarter ended March 31, 2018, indicating that profit before and after tax rose at a faster pace than revenue for the period, helped by fuel retailing, power segments.

According to the result, revenue increased by 20.63% from N33bn in the corresponding period of 2017, to N39.811bn, with retailing of fuels remaining its golden egg, after contributing N2.5848bn to revenue, up from N22.765bn in the first quarter of 2017. It was followed by power generation with N10.071bn, up from N6.532bn; and N3.453bn from lubricants and greases, compared to N3.237bn, while production chemicals and solar system remained small segments of the business.

Cost of sales increased by 21.35% to N33bn, from N27.2bn, with fuels gulping all of N23.989bn from N20.142bn; ahead of N6.009bn from power generation (4.164bn in 2017); and N2.764bn from lubricants and greases, up from N2.645bn. These left gross profit of N6.802bn, up by 17.22% from N5.803bn.

Other income suffered a sharp 54.12% decline to N297.282m from N647.896m, with the bulk of N157.848m, being freight income on 100 trucks owned by the company and managed by various logistic companies, compared to N61.668m; followed by dividend received of N90m from Forte Upstream Services Limited, one of its subsidiaries (nil in 2017Q1); ahead of the N53.113m foreign exchange gain from sale of US$ inflows, which represented a significant slide from N499.877m in 2017.
Distribution expenses rose to N593.848m, representing an 18.41% rise over the N501.521m in the prior Q1; administrative expenses crawled 8.46% up from N2.322bn to N2.126bn; resulting in operating profit of N4.379bn, which represented a 20.76% improvement over the N3.626bn reported in the corresponding period of 2017.

Finance income was flat at N533.682m, as against the previous N563.586m, out of which interest income on bank deposits rose to N221.602m from N214.034m; other income fell from N236.044m to N198.572m, while income from government grant on loan stood at N113.508m.
Finance cost dropped to N1.747bn from N2.14bn, with interest on medium term bond rising slightly to N422.247m from N417.239m; interest expense on bank loans and overdrafts was the bulk at N1.325bn, a drop from N1.723bn; leaving net finance cost of N1.214bn, a 23.02% drop from N1.577bn.

Profit before tax stood at N3.165bn from N2.049bn. A tax expense of N202.917m, up by 22.79% from N165.258m in the 2017Q1, left profit after tax at N2.962bn, as against the previous N1.884bn; translating to Earnings Per Share of 41 kobo, a 24% drop from the previous 54 kobo.

http://investdata.com.ng/2018/04/fuel-retailing-power-segments-lift-forte-oil-profit/#more

World Bank Group Raises $1.5bn In Maiden IDA Bond For Poorest Nations


The International Development Association (IDA), on Tuesday launched its first bond in its nearly 60-year history, raking in $1.5bn from investors around the globe.
The triple A-rated asset and support life-changing instruments for investments in some of the most pressing development issues among the world’s poorest countries.

IDA provides technical expertise and low-cost financing for projects and programmes that boost economic growth and reduce poverty in the world’s poorest countries— from tackling conflict, fragility and violence; forced displacement; climate change; and gender inequality to promoting governance, institution building, creating jobs and supporting a strong private sector for economic transformation.

A statement by the World Bank Group noted that until now, IDA has been virtually unleveraged, building up an unparalleled equity base of US$158 billion.
In 2016, IDA shareholders agreed to transform IDA’s financing model, leveraging its strong capital base to pioneer a new model for development finance that combines donor funding with funding raised in the capital markets. IDA’s borrowing program will enable IDA to significantly scale up its support toward achieving the Sustainable Development Goals, while offering investors an efficient way to contribute to global development.

The statement quoted World Bank Group President Jim Yong Kim as saying the “bond issue will allow IDA to tap into the power of capital markets to tackle some of the world’s biggest challenges and help millions lift themselves out of poverty.
“While it is a new bond issuer, IDA is an established institution, with an almost 60-year track record as the leading source of development finance and expertise for some of the fastest growing economies in the world. As a borrower, it leverages its unrivaled capital position – the largest equity of any multilateral development bank – and decades of strong donor support, a solid track record of repayments, and prudent financial management.”

World Bank Group Managing Director and Chief Financial Officer, Joaquim Levy described the inaugural bond issuance as “a landmark in mobilizing capital for development finance. By leveraging the balance sheet and the significant achievements of IDA for the first time, we are delivering shareholders value for money, opening new investment opportunities in the fixed income space and, most importantly, scaling up IDA’s ability to have an impact where it makes the greatest difference.”

For the group’s Vice President and Treasurer Arunma Oteh, “IDA received a resounding response from the market for its debut issuance. Investors globally seized the unique opportunity to be the first to invest in IDA’s triple-A rated bond and make a positive impact in the lives of hundreds of millions of people around the globe. I want to thank investors, lead managers and all the bankers for their personal engagement and commitment to making IDA debut such a fantastic success. As we grow IDA’s borrowing program, we will continue to ensure a strong financial condition and prudent financial and operational management for IDA. We will also continue to put to work for IDA the World Bank Treasury’s 70-year track record of innovation in connecting capital markets with development.”

World Bank Vice President for Development Finance Axel van Trotsenburg said: “Three years ago, the international community agreed that business as usual is no longer enough for development finance, and committed to leveraging aid balance sheets, scaling-up, and raising more capital to help the poorest countries achieve Sustainable Development Goals (SDGs) by 2030. IDA’s historic entry into the global capital markets, with its first issuance of an IDA bond today, represents a transformational shift responding to shareholder ambitions, development needs, and investor requirements.

http://investdata.com.ng/2018/04/world-bank-group-raises-1-5bn-maiden-ida-bond-poorest-nations/#more

Low Valuations, Expected Economic Data Spur Demand For Nigerian Equities


Nigeria’s stock market on Tuesday witnessed increased demand for stocks ahead of Q1 numbers resulted from the prevailing low valuations that had attracted foreign and local investors to trade huge volume in banking stocks. They were lured, as Investdata has continuously noted in the past, by the high margin of safety based on the intrinsic value of listed equities on the exchange, at a time Money flow index dropped to 32.79 points from previous day’s 44.78 points. This is an indication that funds are leaving the market.
It was a very volatile session, but huge rally that started with a gap down as trading opened, a situation that lingered till midday before the market reversed on the back of heavy volume. There was stronger positive sentiment that pushed intraday highs to 40,862.01 by the afternoon from lows of 40,409.90, before closing at 40,788.68 in the last five minutes of trading.

This was also helped by money market rate and bond yield that remain south ahead of the expected easing of the benchmark Monetary Policy Rate (MPR) when the Monetary Policy Committee (MPC) meets in the nearest future. Before then, stock prices are likely to head north, especially as the market expects inflow of earnings surprises from the Q1 scorecards that have started trickling in. The numbers are expected to further test the positive economic data emanating and anticipated from the National Bureau of Statistics (NBS) and Central Bank of Nigeria (CBN).
Market technicals for the day were positive and strong as volume traded was high on a strong buying pressure, positive market breadth and improved sentiment with buying position of 84%, while selling volume was 16% on a volume index of 3.52 of the day’s total transaction.

Index and Market Cap
The composite All-Share Index gained 255.31 points to halt previous day’s down market, closing at 40.788.68 basis points after opening at 40, 533.37bp, representing a 0.63% growth on a huge volume that was higher than the previous day’s. Similarly, market capitalisation for the day rose by N92.22bn to close at N14.73tr, from N14.64tr, also representing 0.63% value appreciation to reduce the losing position of investors.
The upturn recorded was attributed to price rally in low, medium and high cap stocks which impacted positively on the NSE’s Year-to-Date returns, which stood at 6.66%, just as market capitalisation gains for the period stood at N1.07tr, representing 8.12% returns from the year’s opening value.

Bullish Sectoral Indices
Sectoral indices were bullish, except for the NSE Insurance index that closed red. The Banking, Industrial, Consumer and Oil/Gas were up, due to price appreciation in Zenith Bank, UBA, Seplat, Oando, Nestle, Nigerian Breweries and Lafarge Afrca.
Market breadth for the day was remained positive as advancers outnumbered decliners in the ratio of 33:18 to halt Monday’s down market.
Market activities were up in volume and value by 732.4% and 248.9% respectively to 1.6bn shares worth N10.91bn, from the previous day’s 192.5m units valued at N3.13bn.

Transaction volume was boosted by financial services and oil stocks like FCMB, UBA, Zenith Bank, Access Bank and Japaul Oil, which witnessed increased trading to top the activity chart.
Unity Bank and Oando were the best performers for the session, topping the advancers’ table after gaining 9.5% and 9.2% respectively to close at N1.27 and N8.28 each. This was due to market forces and sentiments, as investors positioned in the stocks in hope of their earnings release.
On the flip side, C&I Leasing and Fidson Healthcare were the worst performing, after losing 5% each to close at N1.33 and N5.51 respectively on profit booking and market forces.

Market Outlook
We expect the uptrend to continue on the strength of low valuations amidst ongoing volatility and portfolio realignments, ahead of more Q1 scorecards and 2018 Q1 GDP data. Even so, value investors continue to position for the short and long-term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing and Q1 results are expected in the market arena.
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on Stock Trading and Investing for Financial Independence series are available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

We say a big thank you to all participants and all who assisted to make the Abuja stock market trading workshop a success. We are grateful and believe that what you learnt will enhance your knowledge and transform your investing strategies, while ensuring profitable returns.
Again, we say thank you.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/04/low-valuations-expected-economic-data-spur-demand-nigerian-equities/#more

All Eyes On Q1 Earnings, Economic Data, Low Equity Valuation, For Price Reversals


Trading on the Nigerian Stock Exchange for the week on Monday was yet another bad session, as the benchmark All-Share index opened with a gap down that continued all morning, even as analysts hope that the numbers from the Q1 earnings season and the low valuation of stocks in the market would result in reversal in the coming days.
By midday, it tried to rally, got right to the breakdown point, at resistance and rolled over only to make lower lows. This resulted from losses suffered by high cap stocks and particularly, the N10.50 price adjustment of Dangote Cement Plc, the market’s most capitalized equity for the dividend recommended by its directors for the year ended December 31, 2017.

The release of Q1 earnings reports is expected to boost a pick-up of the NSE indicators this week. The results are likely to support the reversal attempt that was suppressed by Monday’s pullback, which may not last, once the anticipated Q1 numbers start hitting the market, serving as the needed catalyst to stop the ongoing price decline and sell off in the market.
The driver will be positive surprises, considering the prevailing low stock valuations, which is what market watchers are looking onto as the week unfolds.
From the just concluded 2017 earnings season, remember we have corporate earnings that are forecast to grow about 15% this year, despite being a pre-election year, due to the expected increasing political spending that will further boost consumption. This factor is expected to sustain the ongoing economic recovery that and lead it onto the path of growth and development, notwithstanding some uncertainties that come with the general elections.

The falling rates in the money market, as well as the rising oil prices should be a plus for stocks, especially now that Nigerian equities are cheap and undervalued. Last week, we saw for the first time in April that stocks are getting ready for reversal which we believe positive Q1 earnings and economic data would support.

Meanwhile, market technicals on Monday were weak and mixed as volume traded was low on a strong buying pressure, positive market breadth and improved sentiments. Buying position was 79% and selling volume, 21% on a volume index of 0.40 of the day’s total transactions. Money flow index is looking down at 44.78 point from the previous day’s position of 48.72 points, which is an indication that funds are gradually leaving the market again.

Index and Market Cap

The All Share Index shed 395.33 basis points, closing at 40.533.37 basis points after opening at 40,928.70 bp, representing a 0.97% decline on a low volume that was higher than the previous day’s. Similarly, market capitalisation for the day was went down by N132.8bn to close at N14.64tr from an opening value of N14.78tr, also representing 0.97% value loss.
The day’s downturn was due to losses suffered by medium and high cap stocks, like Dangote Cement, NB, Double One, Presco and Access Bank. This impacted negatively on the NSE’s Year-to-Date returns, which contracted to 5.99%, just as market capitalisation gains for the period dropped to N1.03tr, representing 7.58% above the year’s opening value.

Mixed Sectoral Indices
Sectoral performance for the day was mixed as the NSE Industrial Goods, Banking and Oil/Gas were up due to price appreciations in Zenith Bank, UBA, Seplat, Oando and Lafarge Afrca, while other sectors closed in red.
Market breadth for the day was positive as advancers outnumbered decliners in the ratio of 26:20 despite the halt in the up market.
Market activities were up in volume and value by 15.42% and 53.3% respectively to 192.5m shares worth N3.13bn from the previous day’s 146.12m units valued at N1.54bn.

Transaction volume was boosted by financial services and oil stocks like GTBank, Japaul Oil, Fidelity Bank, Zenith Bank and UBA, which witnessed increased trading to top the activity chart.
Skye Bank and Oando were the best performers for the day, topping the advancers’ table after gaining 10% and 9.4% respectively to close at N0.88 and N7.55 each. This was due to market forces and sentiment.
On the flip side, UACN Property Development Company and Double One were the worst performing, after losing 7.90% and 5% to close at N2.58 and N190.00 respectively on profit booking and market forces.

Market Outlook
We expect a reversal on the strength of low valuation amidst ongoing volatility and portfolio realignments, ahead of Q1 scorecards and economic data. Even so, value investors continue to position for the short and long-term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing and Q1 results are expected in the market arena.

We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
Big thanks to all participants and those who made last weekend’s Abuja Stock Market Trading Workshop a huge success. We are grateful and believe all you learnt will enhance your knowledge and transform your investing strategies for profitable returns going forward.
Again, from the INVESTDATA team, we say a big thank you.

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

Photo caption: From left to right, Ms. Tinuade Awe, Executive Director, Regulation Division, The Nigerian Stock Exchange (NSE); Michel Puchercos, Group Managing Director/CEO, Lafarge Africa Plc; Oscar Onyema, Chief Executive Officer, NSE; Tony Elumelu, Chairman, United Bank for Africa (UBA) Plc; A.B.C. Orjiako, Chairman, Seplat Petroleum Plc; Mrs. Mosun Belo-Olusoga, Chairperson, Access Bank Plc; Mobolaji Oludamilola Balogun, Chairman, Lafarge Africa Plc; Herbert Wigwe, Group Managing Director/CEO, Access Bank Plc; Austin Avuru, Chief Executive Officer, Seplat Petroleum Plc; Kenedy Uzoka, Group Managing Director, UBA Plc during the Closing Gong Ceremony in commemoration of NSE Premium Board migration at The Exchange on Monday.

http://investdata.com.ng/2018/04/eyes-q1-earnings-economic-data-low-equity-valuation-price-reversals/

Thank you for your Time.

I want to express my sincere gratitude to all those who came to the The Power of Fundamental and Technical Analysis In Protecting your Capital In Pre-Election Year and Beyond not only because they showed up but due to the fact that take burned all bridges of doubt and failure to attend. That is, many traveled down to attend the seminar.

In addition, they also had fears and doubts about this bearish season but they understood that it is better they equipped themselves than to assume because they understand that plan fail for lack of counsel but with many advisers they will surely survive.

For those that did not attend, I want to congratulate you too because all is not lost. I really understand why you did not attend which are normal things in our everyday life i.e

-doubt,
-inaction,
-indecision,
-comfort zone,
-not willing to take risk,
-low resistance
-distance

Once more thank you for attending my summit and to those who did not attend.


What is the difference between market order and limit order?

Market orders are transaction meant to execute as quickly as possible at the present market price.
Conversely, a limit order is setting the maximum or minimum price at which one is willing to buy or sell.

A market order deals with the execution of the order at the current available market price,the price of the stock is secondary to the speed of completing the trade.
Limit orders deal primarily with the price, if the stock's value is currently resting outside the parameters set in the limit order, the transaction does not happen.

Investdata Academy

Happy Trading,
Ambrose Omordion
http://investdataltd..com/2018/04/thank-you-for-your-time.html

Investors Expect Reduced Profit Taking On Expected Payout, Q1 Earnings Surprises

Nigeria equity market in the past week had a mixed performance to close marginally higher, while trying to resist further decline that had beclouded it in recent months on the strength of expected Q1 earnings and positive economic data. There is also the effect of the geopolitical uncertainties surrounding the coming 2019 general elections that had been of great concerns in a market dominated by foreign investors.
The 2018 Q1 earnings reporting season kicked off with during the week, with Forte Oil making available its Q1 result to the market after trading had closed last Friday. More scorecards are expected between now and month-end as listed companies keep to their post-listing requirement that gives listed companies 30 days after the end of quarter to release their Q1 earnings reports or face sanction.

The positive news of a sharp decline in March inflation rate to 13.34% from the February’s 14.33%, which is below the Nigeria’s benchmark Monetary Policy Rate (MPR) has supported the recovery recorded in this period. The market recorded its first back-to-back gains in April to close higher on low volume traded and increasing demand for stocks within the week. The continued decline in consumer price index since April 2017, has resulted in inflation hitting a 23-month low, to reveal the impact of monetary stimulus on the economy as the Central Bank of Nigeria (CBN) intervention continues to support liquidity in the foreign exchange market, ensure a relatively stable exchange rate that keeps sustain inflows into the system.

Election Uncertainties
Despite, the uncertainties around the coming 2019 general elections when there is expected to be huge political spending that will boost company numbers and support share prices, the prospects look very good for positive surprises, as earnings reports pick up. Investdata however conservatively estimates 10% Q1 earnings, but factoring in the propensity for positive surprises in historical earnings reports, some analysts expect 13% Q1 earnings growth, which is seemingly ambitious. It is expected to continue through the year, with the 15% estimated earnings growth for Q2, 17% for Q3 and 20% growth for Q4.
Given that improving purchasing power and recovery economy are the fundamental drivers of impressive numbers, we have seen so far and the expected future results, if all things remain equal.

The declining inflation and money market rates in a low yield fixed income environment is likely to trigger more inflow into the equities market as average dividend yields are looking up and many of the stocks are trading below their intrinsic value. This situation is therefore offering traders and investors a high margin of safety.

Week High, Low
Meanwhile, the NSE’s All-Share index retraced up after touching the week low of 40,206.10 basis points and a high of 40,961.20bps, resisting the 40,000-psychological line that recently became another strong support level before closing the week at 40,928.7bps from an opening level of 40,841.14bps, on a lower traded volume and positive market sentiments.

The upbeat performance witnessed around developed markets of the world over the period were due to rebound of oil price as it hit a three-year high at $71.96 per barrel, despite the geopolitical tension and security challenges arising from Syrian war and chemical attack. The reducing possibility of trade war between the world’s largest economies, had boosted positive sentiments for equities around the world as European and Asian market indices increased, a situation that also spread to emerging and frontier markets.
Back home, the week’s market technicals was strong but mixed, with the low traded volume on negative market breadth and strong buying pressure of 96%. Selling volume was 4% of the week’s total transaction, to halt the bear run, as money flow index continues to point downward at 42.07bps.

The All Share Index for the period gained 87.56 bps to close at 40,928.70 bps, representing 0.21% growth from the opening point of 40,841.14. Similarly, market capitalisation s increased by N30.72bn to close at N14.78tr from its opening value of N14.75tr, also representing a 0.21% value gain.
The up market during the period was attributed to rekindled interest in low, medium high cap stocks that had suffered losses before now, just as those that were adjusted for dividend. Consequently, the market has become attractive, when the strong earnings powers of listed companies is considered. Buying positions were with particular attention on Cement Company of Northern Nigeria (CCNN), Double One, Learn Africa and Oando, as well as second tier banking stocks, among others.
The NSE’s year-to-date returns therefore inched to 7.02%, even as market capitalisation growth for the period stood at N1.14tr, representing 8.40% gain from the year’s opening value.

During the week, low and high cap stocks were dominant on the advancers table, particularly those with high dividend payouts and low-price attractions. Transactions were driven by activities in the financial services, consumer goods and oil/gas sectors, even as market breadth was negative with decliners outnumbering advancers in the ratio of 38:37 on a low volume of trades.

The composite NSE index opened the week on a bearish note, a trend that was extended from the previous week, but reversed on Tuesday when it gained 0.17%, a situation that was sustained at the midweek with another gain of 0.90%. This could not be sustained on Thursday as it shed 0.10% and rebounded on the last trading of the week with a gain of 0.28%, bringing the week’s total gain to 0.21% as the market expects impressive Q1 numbers.

Sector indexes for the week had a mixed performance as the NSE Industrial and NSE Oil/Gas were in the green, while others closed in the red except for NSE AseM that was flat.
Market activities in volume and value were down by 19.77% and 26.05% to 1.42bn shares worth N19.64bn, from previous week’s 1.77bn units valued at N26.56bn.

The best performing stocks for the period were Learn Africa and Double One, which topped the advancers table with 18.89% and 17.65% gains respectively to close at N1.15 and N200 per share, on the back of their high Dividend Yields and expected Q1 earnings results. The worst performing were C & I Leasing and Consolidated Hallmark Insurance that fell 18.02% and 14.71% to close at N1.43 and N0.29 respectively to profit taking.
During the week also, the share prices of Access Bank, FCMB, UBA and Custodian Allied Insurance were adjusted for dividend recommended by their directors.

Market Outlook
We expect sustained upturn in the market on the strength of low price attractions of fundamentally sound stocks, ahead of first quarter economic data and Q1 earnings that will further reveal the true state of the economy and listed companies so far in 2018, helped also by the sustained rise in oil prices
Meanwhile, dividend income players are take position ahead of more economic data, even amidst the expected sustained volatility and repositioning.

However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is approaching.
We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

Fundamental, Technical Tools
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the INVEST 2018 traders and the investors’ summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.

Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
Big thanks to all participants and all that supported to make the Abuja stock market trading workshop a success.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/04/investors-expect-reduced-profit-taking-expected-payout-q1-earnings-surprises/

Uduk, New SEC Acting DG, Chairs First CMC Meeting Thursday

Caption: Mrs. Mary Uduk (middle), new Acting DG of SEC, during a past CMC meeting.

Newly appointed Acting Director-General of the Securities & Exchange Commission (SEC), Ms. Mary Uduk, will on Thursday, April 19, 2018 chair the Capital Market Committee (CMC) meeting, the first since her appointed at the weekend.
Ms. Uduk, until last Friday, was Coordinating Director, Operations, was appointed by Finance Minister, Mrs. Kemi Adeosun, in line with provisions of the Investments and Securities Act (ISA), 2007 and the conditions of service applicable to the Director-General of the Commission.

She replaced Dr. Abdul Zubair was directed to return to his previous position as head, External Relations Department.
Ms Uduk will be assisted at the CMC meeting by three acting Executive Commissioners: Reginald C. Karawusa, Legal and Enforcement; Isiyaku Tilde, Operations; and Henry Roland Adekunle, Corporate Services, who were appointed with her.
The CMC, also the first for 2018 is scheduled to hold in Lagos from Thursday April 19 to Friday April 20, 2018, according to a statement by the SEC, would discuss issues such as implementation of the 10-year Nigerian capital market master plan, among other initiatives.
The master plan, which refocuses on doubling the size of the Nigerian capital market over time, as well as economic growth and development was unveiled November 2014.

The statement recalled that the commission has vigorously implemented some initiatives in the Master Plan such as the direct cash settlement, dematerialisation and electronic Dividend Registration, among others with the aim of attracting more investors to the market.
The SEC urged shareholders to take advantage of such initiatives, as they are also aimed at promoting transparency, protecting, enhancing investor confidence, and as part of strengthening the market and accelerating economic development.
The initiatives, the SEC added are in consonance with the economic strategy and focus of the Muhammadu Buhari administration to deepen the capital market as a vehicle for encouraging a private sector-led economy.

The expanded CMC meeting will be attended by Chief Executives of registered capital market operators such as Broker Dealer firms, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants, among others.

Also expected at the meeting are: Chief Executives of The Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial service agencies.

http://investdata.com.ng/2018/04/uduk-new-sec-acting-dg-chairs-first-cmc/

INVESTDATA ACADEMY

Earnings per share
Earnings per share ( EPS) is the portion of a company's profit allotted to each outstanding share of common stock.
Earnings per share serves as an indicator of a company's profitability. It is calculated as:
EPS = (profit tax of a company)/outstanding shares

This is very important to investing public because, this is what support a company share price movement and dividend payout. It is calculated quarterly and yearly in relation to previous quarter and yearly reports.

Fixedincome Securities report
Bond
The Bond recorded a bullish sentiment with buy side concentrated on some on the run bonds for 2019,2027 and 2020 maturities.
However, this is following the release of
inflation figure which dropped to 13.34% from 14.33% in February 2018
as published by the Nigerian Bureau of statistics.Market closed at 13.55levels on the average.
We expect
a mixed sentiment tomorrow as players take proactive positions .

Treasury bills
CBN offered a total of N500bn of the 2-Aug 2018 and
13-Dec 2018 bill respectively today but sold only N500bn despite the high subscription from players.
The Stop rate were 12.20% ,13.99% for o the 2-Aug 2018 and 13-Dec 2018
. The bulls will persist tomorrow as players take strategic position for lost bids .
The Treasury bills market recorded mixed sentiments as profit takers purchased some short maturities to fund for their OMO bids.

Interbank:
The OBB and Overnight rates increased slightly higher to 3.00% and 3.83%
due to N500bn outflows from OMO auction sales.
Rates hike is expected tomorrow due to anticipated funding for retail FX bids by banks.
The Interbank rate remained stable at N305.55/$.

NSEASI buy 71% sell 29% MFI 52.19,Access buy 0% sell � MFI 68.11,Dangote cement buy � MFI 49.71,Dangote sugar buy 67% sell 33% volume index 0.98 MFI 57.97,Diamond buy 20% sell 80% MFI 51.08,Fbnh buy 90% sell 10% MFI 35.45,Fcmb buy � sell 0% volume index 0.80 MFI 69.88, Fidelity buy 0% sell � MFI 72.82,Hony flour buy 0% sell � MFI 48.23,Transcorp buy 75% sell 25% MFI 41.42,Uba buy 25% sell 75% volume index 1.36 MFI 73.42,Ubn buy � volume index 0.77 MFI 33.77,Wapco buy � sell 0% volume index 0.82 MFI 53.59,Zenith buy 78% sell 22% MFI 40.35

NSEASI buy 71% sell 29% MFI 52.19,Access buy 0% sell � MFI 68.11,Dangote cement buy � MFI 49.71,Dangote sugar buy 67% sell 33% volume index 0.98 MFI 57.97,Diamond buy 20% sell 80% MFI 51.08,Fbnh buy 90% sell 10% MFI 35.45,Fcmb buy � sell 0% volume index 0.80 MFI 69.88, Fidelity buy 0% sell � MFI 72.82,Hony flour buy 0% sell � MFI 48.23,Transcorp buy 75% sell 25% MFI 41.42,Uba buy 25% sell 75% volume index 1.36 MFI 73.42,Ubn buy � volume index 0.77 MFI 33.77,Wapco buy � sell 0% volume index 0.82 MFI 53.59,Zenith buy 78% sell 22% MFI 40.35

Investdata Academy
https://investdataltd..com.ng/2018/04/investdata-academy.html

Investdata Corporate Actions As At April 13, 2018


http://investdata.com.ng/2018/04/investdata-corporate-actions-april-13-2018/#more

Investors Go For FGN Bonds Amidst Rising Liquidity

http://investdata.com.ng/2018/04/investors-go-fgn-bonds-amidst-rising-liquidity/#more

Investdata-Price-Earnings-Tracking-For-Week-Ended-April-13-2018

http://investdata.com.ng/2018/04/investdata-price-earnings-tracking-week-ended-april-13-2018/#more

NSE Indicators Close Green, Ahead Positioning For Q1 Earnings, Data


The stock market at the midweek continued it volatile wave to consolidate the previous day’s reversal by following through to close higher on stronger investors sentiments and low valuation ahead of Q1 earnings reporting season that is expected to kick-off next week. The composite Nigerian Stock Exchange (NSE) All-Share index opened the day slightly weak before moving up from the lows, to rally high in the mid-morning to afternoon and close the day at 40,846.24 basis points.

The market has become renown for inexplicable surprises, following two months of correction for up to about 60% of the time. And considering that it has been slow to value the recent impressive numbers due to low liquidity in the market and persistent profit booking, it is therefore safe to say investors are already factoring in the uncertainties of the oncoming general elections long before now. The Q1 expected earnings season, continued decline in money market interest rates and dropping inflation figure for March may set up positive surprises for this season.
From a valuation perspective, stocks are already cheap apart from few that are still over-priced. The forward Price/Earnings on the NSE has come down to just 14.2, which tends to drive the price investors and traders are willing to pay for a Naira of earnings well above long-term averages.

Having this in mind, let’s take a look at what valuations look like on banking stocks that had released their full year 2017 results before now: Zenith Bank is at 8x the 2018 earnings estimate; United Bank for Africa, is 10x; Guaranty Trust Bank, 14x; and Stanbic IBTC, 18x.
If we look back at the pre-2017 rally valuations on these banks, few traded at a discount. On the earnings side, the business models of these banks will determine their performance this year as money market interest continues to look down. This is ahead of a possible rate cut by the Central Bank of Nigeria (CBN) in the nearest future and overregulation in the industry. This is likely to affect their net interest margins, as monetary stimulus in the form of intervention had supported the relatively stable exchange rate that is driving economic activity.
Market technicals on Wednesday was strong despite the relatively low volume traded on a strong buying pressure, positive market breadth, improved sentiment on a volume index of 0.92 of the day’s total transaction. As liquidity in the market remains weak as institutional inflow to the market is low.

Index and Market Cap

All-Share index gained 347.20 points, close at 40.846.24 basis points after opening at 40,499.04bp, representing a 0.86% growth on a low volume that was higher than the previous day’s. Similarly, market capitalisation for the day rose by N125.42bn to close at N14.75tr from an opening value of N14.63tr, also representing 0.86% value gain to reduce the losing position of investors.

The sustained upturn in the market was due to price appreciation of highly capitalized stocks, like Double One, Unilever, Stanbic IBTC, NB, Guinness and Dangote Cement. This impacted positively on the NSE’s Year-to-Date returns, as it strengthened to 6.81%, just as market capitalisation gains for the period stood at N1.14tr, representing 8.41% above the year’s opening value.

Mixed Sectoral Indices

Sectoral performance for the day was mixed as the NSE Banking and NSE Insurance sector were lower, due to sell off in Union Bank of Nigeria, United Bank for Africa, NEM Insurance and Continental Reinsurance, while NSE Industrial and Consumer goods were driven by Dangote Cement, Nigerian Breweries, Honeywell, and Guinness.
Market breadth for the day was positive as advancers outweighed decliners in the ratio of 27:19 to continue it reversal move
Market activities were mixed as volume dropped by 5.42% to 367.27m shares from the previous day’s 388.28m units, while value rise by 26.6% to N5.33bn from the previous day value of N4.21bn.
Transaction volume was boosted by financial services stocks like Zenith Bank, Skye Bank, Access Baank, GTBnk and UBA, which witnessed increased trading to top the activity chart.

Learn Africa and Unity Bank were the best performers for the day, topping the advancers’ table after gaining 9.43% and 8.7% respectively to close at N1.16 and N1.00 each. This was due to market forces and sentiment.
On the flip side, C&I Leasing and Redstar Express were the worst performing, after losing 9.40% and 5% to close at N1.35 and N5.70 respectively on profit taking.

Market Outlook
We expect the uptrend to continue on the strength of low valuation amidst ongoing volatility and portfolio realignments, ahead of Q1 scorecards and economic data. Even so, value investors continue to position for the short and long-term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing and Q1 results are expected in the market arena.
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.

It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

http://investdata.com.ng/2018/04/nse-indicators-close-green-ahead-positioning-q1-earnings-data/

Cashless Banking: CBN, NCC Seal Deal To Enhance Mobile Payments


As part of enhancing cashless banking operations in the country, the Central Bank of Nigeria (CBN), on Tuesday in Abuja sighed a Memorandum of Understanding with the Nigerian Communications Commission (NCC) to boost mobile payments.
CBN Governor, Godwin Emefiele, said the deal was to produce a mobile payments “system in Nigeria, reducing cash transaction and enhancing cashless operations”.
The deal is coming just as the CBN released new data showing that currency outside of Nigeria’s banking sector continues to swell in what may signal that the cashless banking strategy needed another bite.
The data showed that currency-in-circulation grew by N101.99bn Month-on-Month from N1.937tr in at the end of February to N2.039tr in March.

Besides the December 2017 level, the March 2018 figure remains the highest over the past one year, according to data published on the CBN website on Tuesday.
The CBN Governor also noted that the target was to ensure 80% of Nigerians had access to financial services by 2020 compared with 40% now.
A statement by the NCC described the MoU on Mobile Payments Systems in Nigeria as a milestone which “takes serious cognizance of very crucial areas of collaboration between the two important regulators with respect to financial inclusion strategy, already being driven by the CBN.
“The strategy also provides responsibilities of the two organizations towards the achievement of government’s objective on payment systems, including but not limited to mobile money services,” it noted.

Prof. Umar Danbatta spoke on the Commission’s critical review of the existing framework for the regulation of mobile payments in Nigeria, within the membership of a Committee comprising of the CBN, NCC, the Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Interbank Settlement System (NIBSS).

He assured that the Commission is looking forward to signing the revised strategy of the Anti-money Laundering (AML) aimed at preventing, detecting and controling money laundering and financial terrorism.
Emefiele also spoke on the critical importance of telecoms on the Nigerian economy and also congratulated the Commission on its efforts towards protecting the interest of Telecom Consumers and Service Providers.
The two regulatory bodies re-assured each other that they will continue to partner and collaborate on shared terms for the actualization of their mutual mandates and enhancement of human lives.

Photo Caption: NNCC Executive Vice Chairman, Prof. Umar Garba Danbatta (left) and CBN Governor, Godwin Emefiele hold up copies of the MoU on Mobile Payments Systems in Nigeria after the signing ceremony on Tuesday in Abuja.

http://investdata.com.ng/2018/04/cashless-banking-cbn-ncc-seal-deal-enhance-mobile-payments/#more

Nigeria’s Currency-In-Circulation Climbs N101.99bn Up In March


The Central Bank of Nigeria (CBN) on Tuesday published latest data on currency-in-circulation (outside of bank vaults) which grew by N101.99bn Month-on-Month from N1.937tr in at the end of February to N2.039tr in March.
The increase follows the N8.107bn or 0.42% drop in the month of February, compared to the previous one, as the March-end coincided with the Christian festive period of Easter which is accompanied with days of celebration.

However, on a Year-to-Date basis, currency-in-circulation within Nigeria dropped by N117.905bn or 5.46% from N2.157bn on December 31, 2017; while Year-on-year, the figure grew by N55.691bn or 2.8% from N1.983tr in the corresponding period of March 2017.
Besides the December 2017 level, the March 2018 figure remains the highest over the past one year, according to data published on the CBN website on Tuesday.

Meanwhile, rising from its maiden meeting in 2018 last week, members of the CBN’s Monetary Policy Committee (MPC) unanimously voted to retain all rates, including the benchmark Monetary Policy Rate (MPR).
In a communique at the end of the meeting signed by Godwin Emefiele, CBN Governor and MPC chairman, “the committee noted the potential impact of the 2019 election-related spending” which is expected to significantly swell currency-in-circulation across the country.

http://investdata.com.ng/2018/04/nigerias-currency-circulation-climbs-n101-99bn-march/#more

CORPORATE ACTIONS FOR MARCH 8TH TO 31ST MAY 2018

https://investdataltd..com.ng/2018/04/corporate-actions-for-march-8th-to-31st.html

InvestData Price & Earnings Tracking For Week-end April 6 , 2018


http://investdataltd..com/2018/04/investdata-price-earnings-tracking-for_11.html

Market Update for Week Ended April 6 and Outlook for April 9-13

NSE Indexes Remain Red, As Investors Expect Rebound On Low Valuation

Equity trading for the week ended April 6, 2018 on the floor of the Nigeria Stock Exchange NSE) closed lower again, disappointing investors and traders who had expectedly felt it was the right time for the market to react to the inflow of robust earnings reports after weeks of standing aloof. This expectation was based on the increased number of companies that have released impressive scorecards before and after the two-day maiden meeting of the Monetary Policy Committee (MPC) for the year.

The meeting, at least, reduced the level of uncertainty and gave direction by leaving rates unchanged in line with analysts’ expectations, at a time of rate cuts by African central banks in the recent times. The decision to hold rates by the CBN may be linked to the nation’s sociopolitical uncertainties around the coming the 2019 general elections when there is expected to be huge political spending and the need for care so as not to unsettle the ongoing economic recovery, especially as it is still fragile, despite the continued positive economic data being released by National Bureau of Statistics (NBS) and CBN.

The declining rates in the money market and lower yields environment are likely to support more flow into the equities market as average dividend yields are looking up in the short-term for fund managers to play around. This is especially as the just concluded earnings season has revealed greater inherent values in the companies ahead of their 2018 Q1 corporate numbers expected in the market any moment from now.

Meanwhile, the NSE’s All-Share index continued to experience pull back as it broke another strong support level of 41,000 on a strong mixed sentiment at 40,841.14 basis points, on a lower traded volume and short trading period. This was after it touched the week’s high of 41,615.41 basis points from low of 40,512.37bp. This down market may not last, if the improving investors’ sentiment after the MPC had given direction, ahead of the March inflation data by the NBS slated for publication on April 16, 2018. This continues to be supported by factors like stable oil prices, increasing number of tax payers, rising current account surplus external reserves.

The mixed performance witnessed around developed markets of the world over the period were due to fears arising from potential trade war between the world’s largest economies, following which major U.S and Chinese market indexes closed red over the period amid rising trade tension with imposing of tariffs to restrict imports from each other. If this is not checked quickly, it may have a spillover effect on global economic growth forecast, besides weakening the momentum in an already struggling global equities market.
Back home, market technicals for the week was weak and mixed, with the low traded volume on negative market breadth and strong selling pressure of 70%. Buying volume was at 30% of the week’s total transaction, continuing the bear run, as the market continues trading below its 100-Daily Moving Average and weak inflow of funds. This is revealed by the money flow index that continues to point downward at 46.16bps.

Benchmark index for the period shed 663.37bps to close at 40,841.14bps, after opening at 41,504.51, representing a 1.60% decline on a relatively low volume, which was lower than previous week’s. Similarly, market capitalisation slipped by N239.6bn to close at N14.75tr from its opening value of N14.9tr, representing 1.60% value depreciation.
The bearish performance of the market during the period was attributed to sustained sell-off and profit booking on high cap stocks that suffered losses after their share prices were adjusted for dividend declared. Consequently, the market has become attractive, when the strong earnings powers of listed companies is considered. Selling positions were with particular attention on Dangote Cement, Zenith Bank, Guaranty Trust Bank, GSK, International Brewery and Dangote Flour among others.

The NSE’s year-to-date returns therefore reduce to 6.79%, even as market capitalisation growth for the period stood at N1. 16tr, representing a 8.40% gain from the year’s opening value.
During the week, low and medium cap stocks were dominant on the advancers table, particularly those with high Dividend payouts and low price attractions. Transactions were driven by activities in the financial services, conglomerates and consumer goods sectors, even as market breadth was negative with decliners outnumbering advancers in the ratio of 53:19 on a low volume of trades.
NSE index opened the week on a bearish note, a trend that was sustained till midweek, only to reverse on Thursday when it notched 0.31%. This could however not be sustained on the last trading of the week as it pulled back again by 0.31%, bringing the week’s total loss to 1.60% as the market seemingly ignored the rush of impressive numbers.
Sector indexes for the week experienced a bloodbath as they all closed in the red to close the week red.

Market activities in volume and value were down by 4.51% and 21.11% to 2.33bn shares worth N28.93bn from the previous week’s 2.44bn units valued at N36.67bn.
The best performing stocks for the period were Lasaco and May& Baker, which topped the advancers table with 21.21% and 14.29% gains respectively to close at N0.40 and N3.20 per share, on the back of their high Dividend Yields and expected Q1 earnings results. The worst performing were Japaul Oil and Unity Bank that lost 23.73% and 17.213% to close at N0.45 and N1.01 respectively, due to profit taking and impact of market forces.
During the week, the share price of Zenith Bank was adjusted for the N2.45 final dividend recommended by its directors.

https://investdataltd..com.ng/2018/04/market-update-for-week-ended-april-6.html

NSE Index Closes Green Amid Bargain Hunting, Portfolio Realignments


The Nigerian stock market on Tuesday continued along its volatility wave on improved sentiment, as low valuations in the market continue to inspire portfolio realignments and attract bargain hunters. Such value investors are repositioning ahead of Q1 scorecards and economic data.
Such portfolio realignments and bargain hunters halted the southward movement, as the index tries to form a strong support level at 40,000 mark. This will however depend on whether the expected Q1 earnings season and economic data indeed make any meaningful impact this time around, even as investors and traders change strategies ahead of the 2019 general election.
The NSE index had a slight improvement at the end of the day, after gapping down from the day’s opening level, a situation that was sustained as it hit a low of 40,206.10 by midday, before retracing up in the afternoon to intraday highs of 40,499.04bps after successfully retesting the previous day support. When support held, the index rallied sharply in the afternoon, and ran to key overhead resistance near the declining tops line for the current down channels.
The candlestick formation at the end of Tuesday’s trading session supports reversal depending on market forces on Wednesday morning as market opens. The index is resisting to breakdown the lower line of the bearish channel on a low traded volume with strong buying pressure of 100%. The recent movement of oil price to breakout its 52-week high as looming trade war between China and U.S subsides should trigger inflow that will further strengthen Nigeria’s external reserves and boost the investment environment.
Market technicals on Tuesday were strong but mixed as volume traded was low on a strong buying pressure of 100%, while market breadth was negative despite the improved sentiment recorded as revealed by the selling volume of 0% on a volume index of 0.88 of the day’s total transaction. Money flow index is gradually looking down at 39.81 points from the previous day’s position of 40.14points.
Liquidity in the market remains weak as institutional inflow to the market is low.

Index and Market Cap

The benchmark NSE All-Share index gained a marginal 69.86 points, closing at 40.499.04 basis points after opening at 40,429.18bp, representing a 0.17% growth on a low volume that was higher than the previous day’s. Similarly, market capitalisation for the day was up by N25.23bn to close at N14.63tr from an opening value of N14.6tr, also representing 0.17% value gain.

The market upturn was attributed to price appreciation of medium and high cap stocks, like Double One, Ecobank Transnational Incorporated, Dangote Flour, Dangote Sugar, Flour Mills and Dangote Cement. This impacted positively on the NSE’s Year-To-Date returns, raising it to 5.90%, just as market capitalisation gains for the period stood at N1.03tr, representing 7.49% above the year’s opening value.

Mixed Sectoral Indices

Sectoral performance for the day was mixed as the NSE Industrial and NSE Consumer Goods were in the green, driven by Dangote Cement, International Brewery, Dangote Sugar and Dangote Flour while NSE Banking and others closed red.
Market breadth for the day was negative as decliners outweighed advancers in the ratio of 26:16 to halt the bearish transition.
Market activities were mixed as volume was up by 35.3% to 388.28m shares from the previous day’s 287.04m units, while value dropped by 14.3% to N4.21bn from Monday N4.95bn.
Transaction volume was boosted by financial services and consumer goods stocks like Sovereign Insurance, Zenith Bank, Skye Bank, Flourmills and Access Bank which witnessed increased trading to top the activity chart.
Japaul Oil and Double One were the best performers for the day to topped the advancers’ table after gaining 8.16% and 5% respectively to close at N0.53 and N178.50 each. This was due to market forces and sentiment for dividend.
On the flip side, Wema Bank and Lasaco were the worst performing, after losing 4.94% and 4.88% to close at N0.77 and N0.41 respectively on profit taking.

Market Outlook
We expect rebound gong by the candlestick formation and market forces amidst continued volatility and portfolio realignments, as low stock prices continue to attract bargain hunters repositioning ahead of Q1 scorecards and economic data. Even so, value investors continue to position for the short and long-term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing and Q1 results are expected in the market arena.
We advise investors to allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
Meanwhile, the Investdata Trading and Investing education train move to Abuja this weekend: April 14, 2018, at Chida International Hotel, Plot 224 Solomon Lar Way, Utako District. Abuja. Time is 10.00 am

Abuja Workshop
Theme: “The Power of Fundamental and Technical Analysis In Protecting your Capital In Pre-Election Year and Beyond”, holding on 14th April, 2018.
You would learn from our team of experts/analysts:
1. ABC of Technical Analysis for trading Equity Market and other
2. The 3 Simple trading secrets that can help anyone succeed in equities investing
3. The tenets of stock trading and investing Using TA
4. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.
5. Self-online trading.
6. The psychology of trading and investing and how it will make you successful.
7. The simplest way to predict when time will meet price, which is the optimal trading point
8. The high value of Investdata buy and sell signal in a down or up market, even when it DOESN’T work.
While access to the workshop is free, you are required to purchase a minimum N5, 000 worth of INVESTDATA comprehensive stock market trading materials to enhance your knowledge of equities for profitable investing. For more details, call or send “YES” to 08032055467, 08028164086 or 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/04/nse-index-close-green-amid-bargain-hunting-portfolio-realignments/

Investors To Begin Portfolio Realignments As Buhari Declares For 2nd Term Ambition


It was yet another very negative trading session on the Nigerian Stock Exchange (NSE) on Monday, as the declaration for second-term by President Muhammadu Buhari, following which it is to be expected that investors will immediately begin portfolio realignments.
Since this would open the door for a flurry of political activities ahead of the country’s 2019 general elections, investors would change strategies as the election date draws closer and events unfold. The simple explanation is that discerning investors would naturally seek to protect their capital and benefit from the expected electioneering inflow of funds that will trickle to the market, given that the 2019 election may not be as intense as that of 2015.

The composite NSE All-Share index opened with a big gap down, then rallied back in bear flags, before plunging by mid-morning, after which it rallied back in larger bear flags, but could not get through resistance, and then rolled over hard to close lower on a day the President declared his second-term ambition, just before jetting out to London.
Meanwhile, Monday’s down market was despite being close to the onset of the Q1 earnings season and ahead of the March inflation figure release, as well as other economic data like Q1 GDP, Consumer confidence index and labour market reports by National Bureau of Statistics (NBS).

President Buhari’s second term declaration did not however catch the market unawares since the rumour mill, just as the news and social media had been awash with the information for several months. The unassailable fact remains that there is growing unease over the government’s reforms and fiscal stimulus which have inspired the economy beyond the usual mantra of Nigeria having exited recession, with the living standard of Nigerians in continued decline, as infrastructure decay continues despite the huge amount the government says has been spent on capital projects so far. Worse still, the 2018 budget remains on the shelf of the National Assembly controlled by the President’s All Progressives Congress (APC), as the executives and legislators continue the blame game over which arm is causing the delayed passage. Meanwhile, the economy is suffering, just as businesses battling with huge cost of production, among other challenges, a situation that could have been worse, but for the efforts and interventions of the Central Bank of Nigeria (CBN) in key areas of the economy to cushion the effects of the hardship.
Market correction continued as equity prices suffered losses, despite the rush of improved corporate score-cards, at time earnings capacity of listed companies have improved by 23% to N7.6tr from N6.2tr recorded in 2016. This is expected to continue in 2018 as factors that influenced these companies positively to produce these numbers are still intact. The expected Q1 2018 numbers are expected to give the real state of listed companies, as well as insight into what should be expected, going into the year.

Market technical for the day were negative and weak as traded volume low on a strong selling pressure of 100%, while market breadth and sentiment stayed negative as revealed by the buying position of 0% against selling volume of 100% on a volume index of 0.65 of the day’s total transaction. Money flow index is still looking up at 40.14 points from the previous day’s position of 39.14 points.

Index and Market Cap

The All Share index shed 441.96 points, closing at 40.429.18 basis points after opening at 40,841.14bp, representing a 1.01% decline on a low volume lower than the previous day’s. Similarly, market capitalisation for the day went down by N149.67bn to close at N14.6tr from an opening value of N14.72tr, representing 1.01% value loss that further weakened investors’ bleeding portfolio.
The downturn was attributed to sell off and profit taking in low, medium and high cap stocks, that impacted negatively on the NSE’s Year-To-Date returns, which contract to 5.87%, just as market capitalisation gains for the period stood at N1.13tr, representing 7.58% above the year’s opening value.

Negative Sectoral Indices

Sectoral performance for the day was bearish along the line of the composite index, except for the NSE Insurance that closed higher due to value gain in AXA Mansard and Continent Reinsurance.
Market breadth for the day was negative as decliners outnumbered advancers in the ratio of 30:17 to continue the bearish transition.
Market activities were down in volume and value by 42.82% and 15.57% respectively at 287.04m shares worth N4.95bn, from the previous day’s 501.96m units valued at N5.85bn.

Transaction volume was boosted by financial services and consumer goods stocks like FBNH, Skye Bank, FCMB, Zenith Bank and Nigeria Breweries which witnessed increased trading to top the activity chart.
The best performing stocks were Learn Africa and Japaul Oil topping the advancers’ table after gaining 9.28% and 8.89% respectively to close at N1.06 and N0.49 each. This was due to market forces and sentiment
On the flip side, C&I Leasing and Skye Bank were the worst performing, after losing 9.30% and 8.43% to close at N1.56 and N0.65 respectively on profit booking and market forces.

Market Outlook
We expect the ongoing volatility to ease off gradually amidst portfolio realignments, as low stock prices continue to attract bargain hunters repositioning ahead of Q1 scorecards and economic data. Even so, value investors continue to position for the short and long-term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing.

We advise investors to allow numbers guide their decisions while repositioning for the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
Investdata Trading and Investing education train move to Abuja on April 14, 2018, at Chida International Hotel, Plot 224 Solomon Lar Way, Utako District. Abuja. Time is 10.00 am

Abuja Workshop Holds Saturday
Theme: “The Power of Fundamental and Technical Analysis In Protecting your Capital In Pre-Election Year and Beyond”, holding on 14th April, 2018.
You would learn from our team of experts/analysts:
1. ABC of Technical Analysis for trading Equity Market and other
2. The 3 Simple trading secrets that can help anyone succeed in equities investing
3. The tenets of stock trading and investing Using TA
4. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.
5. Self-online trading.
6. The psychology of trading and investing and how it will make you successful.
7. The simplest way to predict when time will meet price, which is the optimal trading point
8. The high value of Investdata buy and sell signal in a down or up market, even when it DOESN’T work.
While access to the workshop is free, you are required to purchase a minimum N5, 000 worth of INVESTDATA comprehensive stock market trading materials to enhance your knowledge of equities for profitable investing. For more details, call or send “YES” to 08032055467, 08028164086 or 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdata.com.ng/2018/04/investors-begin-portfolio-realignments-buhari-declares-2nd-term-ambition/

Ecobank Processes $1bn Transactions On Mobile App


Ecobank Group, on Monday said it has so far processed transactions nine million transactions worth over $1bn on its single, unified financial services Mobile application across 33 African countries over since it was launched less than 18 months ago.

A statement by the group said with over four million users, the Ecobank Mobile App is available to all, enabling users to open an Ecobank Xpress™ Account instantly on their mobile device (providing an easy route to financial inclusion for the previously unbanked).
“Users of the Ecobank Mobile App are able to transfer money instantly within Ecobank locally or across Africa using Ecobank Rapidtransfer™, a unique service that is faster and more affordable than competing options. Consumers may also make transfers to other local bank accounts, mobile wallets and to Visa cardholders using Visa Direct on the Ecobank Mobile App.
“The App offers easy payments using Ecobankpay Scan+Pay through Masterpass, mVisa and Mcash, and has options to pay utility bills, school fees, subscriptions, make donations, buy airtime instantly and generate payment tokens using Ecobank Xpress™ Cash to do cardless ATM withdrawals or at an Ecobank Xpress™ Point (agent locations),” the statement added.

Commenting, Ade Ayeyemi, Group CEO explained that the strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks.
He noted that almost as many transactions had been processed on the Ecobank Mobile App in the first few months this year as in the second half of 2017.

The statement further quoted him as assuring that “customers can enjoy 24/7/365 access to financial services from the convenience of their mobile devices with the Ecobank Mobile App,” he said. “We have brought world-class functionality to consumers in the 33 countries in Africa where Ecobank operates.”
Also commenting, Patrick Akinwuntan, Group Executive, Consumer Banking said the group is committed to providing easy access to financial services for all Africans, leveraging the ubiquity of mobile phones via the bank’s Mobile App and at Ecobank Xpress™ Point agents wherever physical interaction is necessary especially for cash deposits.

“We aim to be the leading consumer financial services franchise in Africa and have developed a range of products and services relevant to meeting the daily banking, financing, investment and transactional needs of our customers,” said Akinwuntan. “The Ecobank Mobile App provides easy access to these services anytime and anywhere and we are very pleased with the fast and increasing uptake,” he stressed.

http://investdata.com.ng/2018/04/ecobank-processes-1bn-transactions-mobile-app-across-africa/

Shell Reports 9,000bpd Oil Theft, Pays FG $4.32bn In 2017


Royal Dutch Shell on Monday released its 2017 annual sustainability report showing that for its Nigerian operations, incidences of crude oil theft is on the rise despite efforts to check the menace, according to a report by Reuters.
According to the report, Shell Petroleum Development Corporation (SPDC) the Nigerian arm, recorded about 50% rise in crude oil theft from its pipelines to about 9,000 barrels per day (bpd) of oil theft in 2017, from 6,000 bpd in 2016.
Sabotage-related oil spill incidents, it explained, rose to 62, from 48 in 2016, though the volume spilled fell to 1,400 tonnes, from 3,900 tonnes in 2016, just as operational spills in Nigeria rose by one to nine in 2017, even as the volume of oil spilled fell to 100 tonnes from 300 tonnes in 2016

Theft and sabotage account for 90% of Nigerian oil spills, it added, recalling that the shutdown of its Forcados export terminal responsible for much of 2016 “reduced opportunities for third-party interference”
Shell’s sustainability report is coming one month after a new report by Amnesty International (READ) saying the oil production giant, just like Eni SpA and others may have over the years misled Nigerian oil regulators by wrongly attributing spills to theft and sabotage. This, according to AI is part of a grand decision to avoid paying compensation to affected communities in the Niger Delta region.
According to the AI report, there were “at least 89 spills may have been wrongly labeled as theft or sabotage when in fact they were caused by ‘operational’ faults,” Bloomberg reported the London-based group said in the report released on Thursday.
“Of these, 46 are from Shell and 43 are from Eni. If confirmed, this would mean that dozens of affected communities have not received the compensation that they deserve.”

Shell and Eni, along with ExxonMobil Corp., Chevron Corp. and Total SA operate joint ventures with state-owned Nigerian National Petroleum Corp. that pump most of the crude of Africa’s biggest producer. In the southern Niger River delta, which is home to the country’s oil and gas industry, local communities are frequently in conflict with energy companies over allegations of pollution and environmental degradation.
Shell’s Nigerian arm had in an emailed statement described AI’s allegations as “false, without merit and fail to recognize the complex environment in which the company operates.”

The company said it “responds to spill incidents as quickly as it can and cleans up spills from its facilities regardless of the cause.”
Meanwhile, Shell’s Monday report also said SPDC has so far paid the Nigerian Government a total of $7.96bn in two years.
While $4.32bn of this was paid for the 2017 year, $3.64bn was paid in the prior year, representing an increase of almost 19%, with the bulk of last year’s payments, put at $3.197bn going to state oil company the Nigerian National Petroleum Corporation (NNPC) for production entitlement.

Shell said SPDC also “made $10 million available” in 2017 to help set up the Hydrocarbon Pollution and Remediation Project (HYPREP), a government-led body to clean up contaminated sites in Ogoni land ravaged by oil spills over the years.
It added that it developed, with the International Union for Conservation of Nature (IUCN), a new framework for remediation of soil and groundwater that it will begin testing in 2018.

http://investdata.com.ng/2018/04/shell-reports-9000bpd-oil-theft-pays-fg-4-32bn-2017/

Investdata Price & Earnings Tracking For Week Ended April 6, 2018

http://investdata.com.ng/2018/04/investdata-price-earnings-tracking-week-ended-april-6-2018/#more

Corporate Actions As At Week Ended April 6, 2018


http://investdata.com.ng/2018/04/corporate-action-week-ended-april-6-2018/#more

Eterna Profit Slows To 35.4%, Amid Rising Costs, Offers N0.40 Dividend

he board of Eterna Plc recently presented its audited financials for the year ended December 31, 2017 showing that revenue grew at a faster pace than profit, as cost of sales ballooned by 69.54%, just as selling and distribution expenses as well as general administration expenses increased by 48% each.


Revenue for the period rose by 61.88% to N173.03bn from N106.887bn; cost of sales increased to N166.692bn an increase by 69.54% from the previous year’s N98.319bn, with material cost accounting for N166.282bn from N97.801bn; and delivery cost, N410.746m from N517.767m in 2016; resulting in gross profit of N6.337bn, a 26.04% drop from prior year’s N8.568bn.
A breakdown of the revenue showed that oil trading (being the bulk importation and sales directly to customers facilities or offshore distribution of white products, baseoils, bitumen, low pour fuel oil as well as lifting and sales of crude oil) fetched the bulk of N110.835bn, as against the N48.274bn in 2016; followed by the N56.214bn from retail and industrial, compared to N54.026bn; while lubricants and chemicals N5.979bn, up from N4.586bn. Trading was also the biggest contributor to the cost of sales at N110.003bn; followed by N52.214bn from retail and industrial; while N4.203bn; leaving gross profit of N3.729bn from retail and industrial; with N1.776bn from lubricants and chemicals; and just N831.85m from trading.

Selling and distribution expenses rose to N73.431bn from N49.506bn, helped by the N67.29bn in marketing and sales commission, which rose from N48.449bn; and sampling and analysis expenses that gulped N6.141bn from N1.057bn; just as general administrative expenses climbed from N2.094bn to N3.1bn, boosted by the N802.038m, compared to N259,000 in 2016; N553.214m went into staff costs that rose from N524.257m; and depreciation worth N380.996, from N340.015m, among others.
Other income however fell 68.75% to N29.638m, compared to N94.84m; foreign exchange gains fell by 94.72%, an even more significant margin to N13.585m from N257.377m.

With no derivative loss for the period, as against N948.225m, operating profit fell from N5.828bn to N3.206bn, representing a 44.98% drop.
Finance income notched 36.94% to N142.457m from N104.029m; while finance cost was contained by 84.83% to N535.882m, up from N3.531bn. The finance cost comprised N334.037m, from the previous N288.426m; even as interest and other financial charges (being interest charges on various short-term loans, overdrafts and trade finances) dropped to N174.115m from N3.224bn.

Profit before tax for the period could therefore only rise by 17.2% at N2.812bn from N2.4bn in the corresponding full year of 2016, while a 12.09% drop in tax from N922.613m to N811.039m left profit after tax at N2.001bn, which was 35.49% better than the previous N1.477bn.
Retail and industrial contributed N1.178bn to the net profit for the year, from N1.079bn; followed by N561.054m from lubricants and chemicals, compared with N233.736m, and N262.776m from trading, as against N164.715m. Total comprehensive income for the year stood at N1.98bn, up from N1.469bn, translating to Earnings Per Share of N1.54, as against the previous N1.13 each.

From this, directors of Eterna are recommended a dividend of 40 kobo, up from 30 kobo in 2016, for approval by the shareholders when then gather on June 19, 2018. Payment date is fixed for June 20, to those whose names appear on the register of members when it closes from May 24 to 28.

http://investdata.com.ng/2018/04/eterna-profit-slows-35-4-amid-rising-costs-offers-n0-40-dividend/#more

NSE Rebounds, As Investors Position For Q1 Earnings, Data


The equity market on Thursday had a nice follow-through session, particularly early when the composite Nigerian Stock Exchange All Share index gapped up in the morning as investors take advantage of the low prices. It pulled back at midday after making intraday higher highs of 40,945.75 from its lows of 40,648.52 on a high volume traded, amidst an improved investors’ sentiment to halt the lingering down market.
The index retracement from the previous day low after the outcome of Monetary Policy Committee (MPC) meeting was successful, however, and it rallied back to retest the recent highs again. It could not however get through to breakout the psychological line of 41,000, before closing the day at 40,875.69. The index, nonetheless, successfully held on to more than half of the gains to closed on the green side.
The market seems to have settled in to the fact that after months of uncertainty, this week’s meeting of the Central Bank of Nigeria’s MPC has given a direction of interest rate as a market stimulus for the economy and the financial market. This is expected to guide the flow of funds in the money and capital market till the next meeting.

The declining rates in the money market is likely to support more flow into the equities market as average dividend yield remains above 4.42% in the shortest time for fund managers to play around. This is especially as the just concluded 2017 earnings season has revealed greater inherent values of the companies ahead of their 2018 Q1 corporate numbers being expected in the market any moment from now. Ahead of the release, more companies have continued to notify the investing public of their closed period when investors their directors and key officals are barred from trading in the company’s shares, thereby taking advantage of price sensitive information at their disposal.
The market technicals, for the day were strong but mixed as traded volume was high on a strong buying pressure of 82%. Market breadth, however was flat, with market sentiment strengthened going by the increasing demand for stocks as revealed in the buying position of 82% against selling volume of 18% on a volume index of 0.89 of the day total transaction. Money flow index turn up to indicate entrance of more funds into the market at 31.35 points from the previous day’s position of 23.54 points.

Index and Market Cap

The day All Share Index gained 125.83 points, closing at 40.875.69 basis points after opening at 40,749.86bp, representing a 0.31% growth on a volume higher than the previous day’s. Similarly, market capitalisation for the day was up by N45.45bn to close at N14.77tr from an opening value of N14.72 trillion, representing 0.31% value gain that will help investors reduce their loss.
Thursday’s market upturn was attributed to price appreciation by medium and high cap stocks, despite profit taking in some equities. This impacted positively on the NSE’s Year-To-Date returns, as it inched up to 6.88%, just as market capitalisation gains for the period stood at N1.17tr, representing 8.50% above the year’s opening value.

Positive Sectoral Indices
Sectoral performance for the day was positive along the line of the general market index, except for the NSE Consumer Goods that closed red owing to sell-offs in NB, International Brewery and Dangote Sugar.
Market breadth for the day was almost flat as decliners outnumbered advancers in the ratio of 22:21.
Market activities were up in volume and value by 23.5% and 13.3% respectively at 495.61m shares worth N7.71bn, up from the previous day’s 401.41m units valued at N6.77bn.

Transaction volume was boosted by financial services stocks like: UBA, Fidelity Bank, Guaranty Trust Bank, Access Bank and FBNH, which witnessed increased trading to top the activity chart.
Prestige Assurance and Lasco Assurance were the best performing stocks, topping the advancers’ table after gaining 9.30% and 5.56% respectively to close at N0.47and N0.38 each. This was due to market forces and the four kobo dividend proposed by directors of Lasaco.
On the flip side, GSK and Jaiz Bank were the worst performers, after losing 9.61% and 8.11% to close at N31.50 and N0.68 respectively on profit taking.

http://investdata.com.ng/2018/04/nse-rebounds-investors-position-q1-earnings-data/#more

Market Update for April 5, 2018

NSE Rebounds, As Investors Position For Q1 Earnings, Data

The equity market on Thursday had a nice follow-through session, particularly early when the composite Nigerian Stock Exchange All Share index gapped up in the morning as investors take advantage of the low prices. It pulled back at midday after making intraday higher highs of 40,945.75 from its lows of 40,648.52 on a high volume traded, amidst an improved investors' sentiment to halt the lingering down market.
The index retracement from the previous day low after the outcome of Monetary Policy Committee (MPC) meeting was successful, however, and it rallied back to retest the recent highs again. It could not however get through to breakout the psychological line of 41,000, before closing the day at 40,875.69. The index, nonetheless, successfully held on to more than half of the gains to closed on the green side.
The market seems to have settled in to the fact that after months of uncertainty, this week's meeting of the Central Bank of Nigeria's MPC has given a direction of interest rate as a market stimulus for the economy and the financial market. This is expected to guide the flow of funds in the money and capital market till the next meeting.
The declining rates in the money market is likely to support more flow into the equities market as average dividend yield remains above 4.42% in the shortest time for fund managers to play around. This is especially as the just concluded 2017 earnings season has revealed greater inherent values of the companies ahead of their 2018 Q1 corporate numbers being expected in the market any moment from now. Ahead of the release, more companies have continued to notify the investing public of their closed period when investors their directors and key officals are barred from trading in the company’s shares, thereby taking advantage of price sensitive information at their disposal.
The market technicals, for the day were strong but mixed as traded volume was high on a strong buying pressure of 82%. Market breadth, however was flat, with market sentiment strengthened going by the increasing demand for stocks as revealed in the buying position of 82% against selling volume of 18% on a volume index of 0.89 of the day total transaction. Money flow index turn up to indicate entrance of more funds into the market at 31.35 points from the previous day’s position of 23.54 points.

Index and Market Cap

The day All Share Index gained 125.83 points, closing at 40.875.69 basis points after opening at 40,749.86bp, representing a 0.31% growth on a volume higher than the previous day’s. Similarly, market capitalisation for the day was up by N45.45bn to close at N14.77tr from an opening value of N14.72 trillion, representing 0.31% value gain that will help investors reduce their loss.
Thursday's market upturn was attributed to price appreciation by medium and high cap stocks, despite profit taking in some equities. This impacted positively on the NSE’s Year-To-Date returns, as it inched up to 6.88%, just as market capitalisation gains for the period stood at N1.17tr, representing 8.50% above the year's opening value.

Positive Sectoral Indices
Sectoral performance for the day was positive along the line of the general market index, except for the NSE Consumer Goods that closed red owing to sell-offs in NB, International Brewery and Dangote Sugar.
Market breadth for the day was almost flat as decliners outnumbered advancers in the ratio of 22:21.
Market activities were up in volume and value by 23.5% and 13.3% respectively at 495.61m shares worth N7.71bn, up from the previous day's 401.41m units valued at N6.77bn.
Transaction volume was boosted by financial services stocks like: UBA, Fidelity Bank, Guaranty Trust Bank, Access Bank and FBNH, which witnessed increased trading to top the activity chart.
Prestige Assurance and Lasco Assurance were the best performing stocks, topping the advancers' table after gaining 9.30% and 5.56% respectively to close at N0.47and N0.38 each. This was due to market forces and the four kobo dividend proposed by directors of Lasaco.
On the flip side, GSK and Jaiz Bank were the worst performers, after losing 9.61% and 8.11% to close at N31.50 and N0.68 respectively on profit taking.

Market Outlook
We expect the ongoing volatility and improving positive investor sentiment to continue, as bargain hunters take advantage of low price to position ahead of Q1 scorecards and economic data. Even so, value investors continue to position for the short and long term on the strength of company fundamentals.
However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing.
We advise investors to allow numbers guide their decisions while repositioning for the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. A stock market is in cycles. You must know the cycle it, or particular stocks therein are to successfully manage your trading and investment risk. For stocks that should be on your shopping list to buy in these seasonal changes as the year unfolds, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack of the INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy, thereby ensuring that you invest and trade with knowledge. You can also access stocks analysed in the home study pack of the Chart Summit held on February 24, 2018, including the 15 stock-picks for 2018 are available now to guide your positioning as trading for the year.
Comprehensive training materials on stock Trading and Investing for Financial Independence series are Available, you can play and watch on your mobile phone, laptop, desktop and TV set. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
Investdata Trading and Investing education train move to Abuja on April 14, 2018, at Chida International Hotel, Plot 224 Solomon Lar Way, Utako District. Abuja. Time is 10.00 am

Abuja Workshop
Theme: “The Power of Fundamental and Technical Analysis In Protecting your Capital In Pre-Election Year and Beyond”, holding on 14th April, 2018.
You would learn from our team of experts/analysts:
1. ABC of Technical Analysis for trading Equity Market and other
2. The 3 Simple trading secrets that can help anyone succeed in equities investing
3. The tenets of stock trading and investing Using TA
4. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market oscillation.
5. Self-online trading.
6. The psychology of trading and investing and how it will make you successful.
7. The simplest way to predict when time will meet price, which is the optimal trading point
8. The high value of Investdata buy and sell signal in a down or up market, even when it DOESN’T work.
While access to the workshop is free, you are required to purchase a minimum N5, 000 worth of INVESTDATA comprehensive stock market trading materials to enhance your knowledge of equities for profitable investing. For more details, call or send “YES” to 08032055467, 08028164086 or 08111811223.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
http://investdataltd..com/2018/04/market-update-for-april-5-2018.html