₦airaland Forum

INVESTDATA PRICE & EARNINGS TRACKING FOR JANUARY 12, 2018

https://investdataltd..com.ng/2018/01/investdata-price-earnings-tracking-for_15.html

MARKET UPDATE FOR WEEK ENDED JANUARY 12 AND OUTLOOK FOR JAN 15-19



PROFIT TAKING, VOLATILITY MAY CONTINUE AMIDST PANIC SELLING, REPOSITIONING FOR EARNINGS SEASON,



Equities’ trading for the second week of 2018 on the Nigerian Stock Exchange (NSE) closed higher with prices of industrial goods stocks galloping more sharply than their peers in banking, consumers and petroleum marketing sectors. The traded volume within the period was huge as there has been no such record of 5.02bn shares transactions in the second week of a new year in more than a decade, attributable to more investors swooping in on the NSE which ranked second best performing bourse among emerging market. Add this to the fact that most Nigerian equities remain undervalued, despite the huge price gains of 2017, helped at a time the economy is in a strong recovery mode with the upbeat macro-economic indices that support strong market fundamentals, amidst the improved quarterly earnings reports of most companies, attracted huge inflow of funds into the stock market particularly from foreign portfolio investors, domestic institutional players, fund managers and, of course, smart money.

The extended volatility from 2017 was extremely high in the week under review despite the seeming slow down on the last trading day of the week as a result of the much anticipated profit taking from the recent rally, especially with the market hitting new four-year highs and many stocks continuing to hit new 52-week highs daily, and in the process creating wealth for discerning investors and traders who had positioned ahead of earnings reporting season.

Investors are also positioning, mindful of the two weeks left for companies with March and September year-end to provide their third and first quarter earnings reports respectively to the market.
For Q3 numbers, they include stocks like Honeywell Flour, International Brewery, Seven-up Bottling Company, Flour Mills Nigeria, Redstar Express, University Press and Norther Nigeria Flour Mills, while Vitafoam is expected to provide its Q1 numbers within the remaining two weeks of January.
Bearing these in mind, investors should keep their gaze on these companies as their numbers start pouring in any moment from now. This arises from the fact of the significant gains some have seen throughout 2017 and the fact consumer goods stocks remain among the market’s major drivers, among other economic factors.

Vitafoam has kicked off the earnings season with a dividend of 15 kobo, representing a 25% growth from 12kobo in 2016, despite a loss before and after tax, which should give the investing public an insight into what is likely to happen when the actual numbers begin to emerge on the exchange.
Meanwhile, the composite NSEASI action has remained in a rising channel pattern that supports an uptrend, while the index is still trading above 50 moving average as institutional money flow index is still looking up as at last Friday.

NSE WEEKLY TIME FRAME


The weekly market technicals were strong and good, irrespective of the fact that it closed southward on the last trading day of the week with buying pressure at 84% and selling positions of 16%, while the week’s volume index was 2.93 of total transaction. The market’s psychological line of 43,000 point and four-year resistance level of 43,141.17 were broken, touching new highs of 43,670.57 from the low of 38,908.12 basis points. Market breadth was positive, reflecting appreciation on equity prices.

The All-Share index gained 3,975.64 points to close at 42,898.90 points, from an opening figure of 39,923.26 points, representing a 10.21% growth on a higher volume, which was higher than previous week’s. These transactions were driven by activities especially in financial services and conglomerate sectors. Similarly, market capitalisation for the period closed higher at N14.92tr from the opening value of N13.85tr, representing a 10.21% value gain in investors’ portfolios, with low value stocks topping the advancers’ log.

This was attributed to low valuation and high upside potentials as many stocks are selling below their 2014 prices on the back of the improving numbers emanating from these quoted companies. During the week also, first and second tier banking stocks recorded strong growth before panic selling set in with traders and investors cashing out gains from the market on Friday.
The week’s bullish sentiment was as a result of early positioning by all class of market players in the low, medium and high cap stocks ahead of the earnings season which impacted positively on the NSE ASI’s year-to-date return to 12.17%. Market capitalisation for the period grew by N1.54tr, representing a 12.17% gain from the year’s opening value.

Market breadth for the week was also positive with the advancers’ outweighing decliners in the ratio of 70:6 on a huge volume of trades to sustain two weeks of bull market.

International markets were mixed over the past week, as commodity prices continue to rise, amidst interest rate hike in U.S as government is moving forward to cut taxes, giving that the economy and the stock market have been looking up since the incumbent President came on board. Europe and Asia’s economic growth in the global movement in 2018 is also of major concern as fund managers are moving seriously into emerging and Fortier markets with high potential of return despite the associated risks.

Back home, the composite index NSEASI opened the week on a positive note, gaining 2.38% to consolidate the previous trading session’s up market, which was sustained on the second trading day with a 1.29% notch. This uptrend continued at the mid-week and Thursday with the index gaining a robust 3.60% and 2.93% respectively, but the market gave up on Friday, when the NSE ASI lost 0.33%. This was due to profit booking and panic selling which slashed the week gains to 10.21%.
The benchmark index and all sectoral indices closed higher in the period, except for NSE AseM that was flat.

Market transactions for the week, in terms of volume and value were up by 44.40% and 266.67% respectively to 5.02bn shares worth N68.97bn from the previous week’s 2.42bn units valued at N18.81bn.
The best performing stocks for the week were Honeywell Flour and Skye Bank which gained 39.68% and 37.70% respectively to close at N3.52 and N0.84 per share, due to their low price attractions and earnings report expectation for Honeywell, while Skye Bank’s was due to bullish sentiments in the market and it sector.
The worst performing equity for the period was GSK, which lost 2.71% to close at N21.50 on profit taking; followed by Dangote Sugar 2.65% slide on profit taking to close at N21.27.

Market Outlook
Expect profit taking and volatility to continue in the midst of panic selling and repositioning ahead of earnings reporting season, as more companies notify the exchange of their closed period and board meetings to approve full-year and quarterly earnings reports.
This week, expect the National Bureau of Statistics (NBS) to release Nigeria’s December inflation, as well as transport fare, labour and petroleum products pricing data for same period. Flour Mills right issue kicks off on Monday, just as the NSE management is billed to review of 2017 and outlook for 2018.

However, we would like to reiterate that investors should 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks pick for 2018 are available now to guide your positioning as trading for the year just started.

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. Kindly 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
www.investdataonline.com

VITAFOAM: DIVIDEND EQUALISATION POLICY SUPPORT PAYOUT, DESPITE 2017 RED ACCOUNTS


The management of Vitafoam Nigerian Plc recently presented its full year-audited report for the period ended September 30, 2017 to the investing community slightly later than the release date for that of 2016, coming below market expectation as it revealed bigger loss than in the corresponding period. The company’s unstable quarterly recovery during the financial year under review finally resulted in a loss, despite the Q1 earnings per share of 6 kobo that graduated to 25 kobo by second quarter, before sliding to 16 kobo at Q3 and thereafter a 12 kobo Loss per share, making it two consecutive years of red numbers.

Despite these negative numbers the company has continued to reward its shareholders by going into the reserve, a development that is not healthy for the company and shareholders, regardless of the fact that operating cash flow turned N1.61bn positive from a N2.36bn negative position in 2016.
The company’s post-merger, expansion outside Nigeria and the introduction of new products are yet to reflect fully on it earnings capacity due to the high financing cost, despite the relative stability in exchange rates which has boosted the books of many companies in the manufacturing sector. The negative accounts notwithstanding, the company has recommended a higher dividend payout of 15 kobo as projected by INVESTDATA, from 12 kobo in 2016.

A review of the financials showed that sales revenue increased to reflect the results of the successful repositioning of its operations, while venturing into spare parts production and strategic repackaging of the insulation business for enhanced value creation. The negative profit margin however suggests the need for better and enhanced cost management, while plugging loopholes, if shareholders must reap the expected revitalization of the group’s subsidiaries through injection of the single-digit loan recently sourced from the Bank of Industry (BoI) to turnaround its fortune and improve profitability.
The full-year statistics revealed mixed numbers for the period under consideration, with a loss of N127.69m as against the N32.03m recorded in 2016, despite by 30.43% turnover growth to N17.7bn from N13.57bn in 2016, translating to Loss per share (LPS) of 0.12 kobo, up from three kobo in the 2016. Return on Equity (ROE) also came in negative at 3.78%, as against the prior year’s -0.91%.
As mentioned earlier, the Vitafoam's profit margin is poor by all standards at negative 0.72%, even when compared to the negative 0.24% in the corresponding period of 2016, just as Book Value declined to N3.24 from N3.47, as a result of the loss and declining retained earnings.
VITAFOAM NIGERIA PLC.
FULL YEAR 2017
COY
2016
2017
% Chg
(N)
(N)
Date Released
January 2, 2017
January 8, 2018

Price As @ Released Date
2.31
3.25
40.69
Turnover
13,569,873,000
17,695,820,000
30.43
Loss After Tax
-32,032,000
-127,690,000
-498.7
Shareholders' Fund
3,432,488,000
3,373,697,000
-1.75
ESTIMATED RATIOS
Earnings Per Share
-0.03
-0.12
-500.0
PE Ratio
-75.17
-26.53
-135.3
Earnings Yield
-1.23
-3.77
-406.5
Book Value
3.47
3.24
-6.63
Price to Book Value
0.69
1.00
44.93
ROE(%)
-0.91
-3.78
-515.4
Profit Margin
-0.24
-0.72
-104.0
Source: Company Financial & Investdata Research
The unstable performance of the company in the last three financial years has extended to the period ended September 30, 2017, which has also reflected on its price performance and payout for these periods. As the market expects its first quarter score-card this month, just as the impact of the N2bn loan might offer new hope for turnaround for the good of investors in the ongoing 2018 financial year and beyond.

Technical View


The price action of Vitafoam shows an uptrend that started since March at the back of positive sentiments on its quarterly financials and ongoing bull market. It remained trendy in the rising channel chart pattern with resistance price of N3.55 and first support level of N3.09. The chart reveals a high possibility of the uptrend continuing to breakout the next resistant if Q1 is positive and the market remains in this uptrend.
On a daily time frame, the stock is strong, trading above its year open and 50-Day moving average. Despite the possibility of pullbacks as result of profit taking, the stock has the momentum to retrace up.

Analysts Opinion/Recommendation
The equity is good for dividend investors as it guarantees annual returns due to its equalization policy. Also, traders may enjoy a likely rally if Q1 financials beat expectations as inflow into market and the stock continues ahead of this year’s first Monetary Policy Committee meeting of the Central Bank of Nigeria (CBN), which may possibly cut the benchmark Monetary Policy Rate. This may have commenced technically with the authorities seemingly bringing down cost of funds to drive the expected growth in 2018 and after.

But the management of Vitafoam must continue with its strategic business plan to reposition its subsidiaries and boost performance with the loan, while utilising modern research and development exposures to cut costs and enhance profit.

History
Vitafoam Nigeria is a leading manufacturer of flexible foam, reconstituted foam and other household products. It has the largest foam manufacturing and distribution network which facilitates just-in-time delivery of products throughout Nigeria, with off-shore operations in Ghana and Sierra Leone.
The company was established on August 4, 1962 by British vita and Unilever and listed on the NSE in 1978. Vitafoam is currently Nigeria’s most prominent and leading producer of Polyether, foam products, furniture, upholstery products and adhesives. In 2010, it became a major shareholder of Vono Products and established two sister companies; Vitapur Nigeria (an insulations products manufacturing company) in the Oil & Gas industry and Vitablom (a fibre processing and soft furnishing company). Finally in 2012, it established its youngest subsidiary- Vitavisco for production and sales of Visco elastic foam and latex products.

Vitafoam Nigeria PLC
Share Holding Structure
Chief S.O. Bolarinde
12.59%
Other Nigerians and Associates
87.41%
Other Statistics
Shares Outstanding (MN)
1,042,370,053
Opening Price (2017)
2.87
Closing price as @ Sept 30 (2017)
2.57
Current Price as @ Jan 12, 2018
3.39
Date Listed
1978
Year End
30th September
Source: Company Financial & Investdata Research


Five-Year Financial Analysis
In the past five years as shown in the table below, management grew revenue year-on-year to a high of N17.bn in 2017, from 2016 low of N13.57 million after recording N16.71bn, N16.81bn and N17.19bn respectively in 2014, 2013 and 2015. Bottom-line for the period has been undulating, slipping into a loss of N127.69m in 2017, from N32.03m in 2016, even as profit level in 2013 to 2015 remained unstable, rising from N390.23m in 2013 to N529.14m in 2014, before falling to N249.05m in 2015, before slipping into a loss in the five-year period.
The company’s earnings power has been inconsistent due to the high cost headwind in its operations, as finance cost grew by 53.94% from N895.06m 2016 to N1.38bn in 2017, wiping out its profit for the year. Profit margin for three years was poor before falling into negative margin for the two most recent years with 0.24% and 0.72% in 2016.and 2017.

Return on equity for the five years had been up and down, growing by 17% in 2014 from 13.19% in 2013, before nose-diving to 5.04% in 2015 before slipping to negative Return on Equity of 0.91% in 2016 and 3.78% in 2017, an indication of the increased costs and tax during these periods.
In the same direction, shareholders' fund which has been unstable for the period grew from N2.71bn in 2013 to N3.37bn in 2017 after touching a high of N4.95bn in 2015. This also reflected in the up and down movement in Book Value per share that affected the price movement for this same period. The book value was down to N3.24 in 2017 from N5.03 in 2015.

The reverse is the case when the said growth is compared to investors’ response in terms of market price valuation/judgment, as Vitafoam’s unit price on the Nigerian Stock Exchange continued to trend up and down. This was however before the current market rally that propelled vitafoam’s price.
Five Years Financial Figures of Vitafoam Plc

Company Figures

2013
2014
2015
2016
2017

Turnover
16,808,851,000
16,712,922,000
17,185,741,000
13,569,873,000
17,695,873,000

Profit After Tax
390,231,000
529,135,000
249,051,000
-32,032,000
-127,690,000

Net Assets
2,706,450,000
3,029,070,000
4,946,205,000
3,508.458,000
3,373,697,000

Dividend
0.30
0.30
0.25
0.12
0.15

Bonus

1:5










Estimated Ratios





EPS
0.50
0.53
0.25
-0.03
-0.12

Pay Out Ratio
59.88
46.15
100
nil
nil

PE/RATIO
7.62
8.23
21.35
-75.17
-26.53

E/YIELD
13.11
12.14
4.68
-1.33
-3.77

Price to Sales
0.19
0.26
0.93
0.69
0.20

BOOK VALUE
3.80
3.70
5.03
3.37
3.24

ROCE
13.19
17.00
5.04
-0.91
-3.78

PROFIT MARGIN
3.46
3.17
1.45
-0.24
-0.72

YEAR END
September
September
September
September
September

Source: Company Financial & Investdata Research

Estimated Performance Ratios
The company earnings per share for the five-year period has been declining to reflect weak earnings power, even as the additional shares arising from the bonus have weakened the Earnings Per Share (EPS) for the period under review. The amount earned per share moved from 50 kobo in 2013 to a loss of 12 kobo after recording 3 kobo in 2016. The dwindling earnings and increase in share price within the period had elongated investors waiting period to -26.53x at the market value as at released date, after it had recorded a P/E ratio of 7.62 times in 2013. Book value during the period decline to N3.24 from N3.80 in 2013, considering the market price of the stock as at released date.
Other performance ratios remained mixed, but profit margin is still pointing at high cost of operations.

On the strength of the figures posted and dividend declared over the years, the stock is fairly priced at N3.50.

www.investdataonline.com

Institutional Money Flow Clouds Profit Taking Activities, Sustains Nigeria’s Equity Rally

Market Update for January 11

Prices of equities on the Nigerian Stock Exchange (NSE) continued to gallop on Thursday, following which the composite All-Share index marginally broke out its four-year resistance level to new highs on intraday movement amidst volatility that remained strong on huge demand for stocks by the investing public. This revealed sustained inflow of funds into the market as investors increased the rate of their position taking despite continued profit booking.

The continuation or fizzling out of this current volatility and up trending would be a function of market forces at Friday’s trading, being the last session for the week which has been a sell market over a period of time. The inflow of funds in the first month of the year and change in the holding structure of the market has almost wipe off the January effects so far in 2018.
It was a big explosive in opening on Thursday’s trading which lasted through the mid-morning to afternoon, before a pull-back after hitting intraday high of 43,269.41 from its low of 41,813.37 which was a consolidation of the bull rally. The market tested a resistance level and penetrated up before it came down slightly to end the day strong as blue chip stocks broke-out their 52 weeks highs.
Market technicality for the day was strong and positive with institutional money flow index looking up but slightly slow, despite the huge volume as buying pressure stood at 84%, while selling volume was 16%. Volume index of the day’s total transactions was 1.95 points, just as market breadth also remained positive and strong to close the day.

All Share index gained 1,230.38 points to close at 43,041.54 after opening at 41,816.11, representing a growth of 2.93% on huge traded volume that was higher than previous levels. Similarly, market capitalisation for the day was up by N436.1bn, closing at N15.32tr, from an opening value of N14.88tr which also represented 2.93% value gain in the portfolios of market player.

The continued upturn was due to appreciation recorded by low, medium and high cap stocks that impacted positively on the NSE’s Year-to-Date returns, pushing it to 12.55%, just as market capitalisation grabbed N1.71tr year-to-date, representing 12.55% growth from its opening value.
The NSE benchmark and sectorial indices were in green, except for NSE AseM that remains unchanged. Market breadth for day was positive and stronger as the advancers to outpaced decliners in the ratio of 56:10, continuing its six-day bullish transition.

Market activities in volume and value terms for the day were up by 6.75% and 30.67% respectively as investors crossed 1.16bn shares worth N17.37bn, compared to previous day’s 1.09bn units valued at N13.3bn. Transaction volume for the day was significantly boosted by transactions in financial services and conglomerate sectors, as trading was heavy in Transcorp, Diamond Bank, Zenith Bank, FBNH and Access Bank that topped the activity chart as most traded stocks by volume.
Honeywell Flour and CCNN topped the day advancers’ table, gaining 9.97% and 9.96% respectively to close at N3.20 and N12.03 each. The gains were propelled by the ongoing bull-run and expectation earnings reports, while University Press and Meyer led the decliners’ table after shedding 4.71% and 4.48% to close at N2.63 and N0.64 respectively, resulting from profit taking and market forces.

TODAY OUTLOOK

Being the last trading of the week expect mixed performance as volatility and profit taking will continue irrespective of repositioning for earnings reporting season as quarterly and full year score-cards of companies are expected to be in the market any moment from now. The above NSE Daily MACD Chart revealed a bullish crossover that is still indicative of an up market. MACD Signal line crossovers tends to work well with volatile market or stocks that trend often. A bullish crossover occurs when the MACD turns up and crosses above the signal line, while a bearish crossover occurs when the MACD turns down and crosses below the signal line. Once the crossover occurs, you want to make sure both lines gain as much distance apart from each other as possible. This is a good sign that momentum is continuing in the desired direction.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
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. Kindly 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/2018/01/institutional-money-flow-clouds-profit-taking-activities-sustains-nigerias-equity-rally/

NSE CONSUMER GOODS INDEX SET TO BREAKOUT 4-YEAR RESISTANCE LEVEL

This sectorial index is a component of NSE benchmark Index that measure performance of consumer goods equities with mixed financial year end of March, June, September and December.
The index action shows that the sector is in strong recovery mode from a three-year pullback as a result of the unimpressive numbers, political tension in 2014 pre-election, insecurity in Nigeria’s troubled North-East region as a result of the Boko Haram insurgency which significantly affected sales, uncertainty over the 2015 general election, unstable exchange rate regime, made worse by the unclear policy direction of the Federal Government that came to power on May 29, 2015, beginning with the delay in constituting a cabinet until after six months.

It was only after the nation had sank deep in recession for a full year in 2016 that the government launched its Economic Recovery and Growth Plan (ERGP) in February last year. One of the hardest hit was the consumer goods sector, owing to the shortage in foreign exchange which threw many manufacturing companies in red due to high exchange rate in a contracting economy where productivity was low, inflation was on the rise, amidst a weakening purchasing power among the people.

But the ongoing strong recovery in the economy and sector fundamentals reflected in the numbers emanating from stocks in the industry and their share price performance on the exchange in the last one year. The trading range and momentum trending ability predicts that the upside will continue despite the expected slowdown as a result of profit booking by traders, which provide another opportunity for market players to get on board.

The low, medium and high cap stocks in this sector have enjoyed positive sentiments and strong buying pressure due to improved earnings power of the companies which reveal a likelihood of higher payout at the end of the day, especially for the companies having December and March as their financial year-end.

A multi-year trend decline that started from November 2013, attaining a high of 1,124.81 with different attempts to rebound but failed until it found support in the lows of 560.83 in February 2017, before a rebound that was sustained for six months on improving earnings from the sector. This was before the pullback on profit taking in September to November and reversed in December to form an ascending triangle chart pattern that supported continuation of rally that is about to breakout the next resistance level at 1,027.86 from the current position of 990.47. As it had turned higher this year during the first trading week of 2018.

The sector rallied with the general market in 2017 with bullish index action into the new year forming ascending triangle pattern which supports complete breakout as the uptrend continue ahead of the earnings season. The current third wave into range resistance with bullish index structure predicts consolidation or pullback due to profit taking any moment from now, which will be followed by a strong breakout. There is still upside potential for equities in this sector especially the low priced ones that their earnings are looking up.

Price Action of Stocks in this Index as Presented in the Charts Below.
http://investdata.com.ng/2018/01/nse-consumer-goods-index-set-breakout-4-year-resistance-level/

AS BULL-RUN CONTINUES, IT’S CAUTION AHEAD REPOSITIONING FOR EARNINGS SEASON

Trading on the Nigerian Stock Exchange had a positive finishing on Tuesday as equity prices continued to gallop amidst strong volatility to breakout the psychological line of 40,000 basis points in preparation to hit a new four-year highs on a huge transaction volume. This consolidated the fifth session of 2018 in a row of gains that kicked off the new year’s trading sessions. The technicals for the day remained strong and positive as institutional money index keeps looking up.

The day started out with the composite index inching up slightly in the morning, then oscillating in the mid-morning before rallying up to test intra-day high of 40,485.54, from lows of 39,688.04. The breakout of 40,000 mark was successful to close the day at 40,362.97.
Tuesday’s equity buying pressure stood at 85%, while selling volume was 15% with volume index of 1.43 points of the day total transaction.
As earnings season kicks off this week with Vitafoam releasing it full-year scorecard for 2017 financial year, more Q3 numbers are expected to hit the market in the weeks ahead. Also, most of the big names that report their earnings in February and March will give more momentum to the market as we get into the peak of the full-year reporting period in the last two weeks of March. For a more detailed rundown of the earnings schedule for the upcoming season. Visit our website next week.

The increasing inflow of funds into the economy and market had reflected in the rise of Foreign portfolio inflows of $3.32 billion as a result of the ease of payment, as well as the improving economic fundamentals that has so far reflected in the positive macro-economic data and Nigeria’s rising external reserves, oil production output and oil prices which has further boosted expectation of growth in the economy in 2018. Also these had kept the nation currency appreciating against major global currencies.

This is just as the World Bank in its January 2018 Global Economic Prospect report launched on Tuesday in Washington DC forecasts that Nigeria’s economy could grow by to at least 2.5% this year on the back of improved commodity prices, investments and trade flows, while growth in Sub-Saharan Africa is forecast at 3.1%. Also, Nigeria’s Gross Domestic Product (GDP) is expected to grow by 2.8% come 2019 and 2020.

According to the bank, growth in Sub-Saharan Africa is projected to continue to rise to 3.2 per cent in 2018 and to 3.5 per cent in 2019, on the back of firming commodity prices and gradually strengthening domestic demand.
Meanwhile, the NSE’s benchmark index gained 513.32 points to close at 40,362.97, after opening at 39,849.65, representing a growth of 1.29% on huge traded volume that was higher than previous levels. Similarly, market capitalisation for the day was up N329.67bn to close at N14.36tr, from an opening value of N14.18tr, which also represented 1.29% value gained in investors’ portfolios.

The upturn recorded was boosted by price appreciation across all equity classes that impacted the NSE’s Year-to-Date returns, pushing it to 5.54%, just as market capitalisation for the same period had accumulated N754.36bn year-to-date, representing 5.54% growth from its opening value.
The composite index and other sectorial indices closed higher, except for, NSE Consumer and NSE Lotus that were lower while NSE AseM was flat.

Market breadth for day remained positive and stronger as the number of advancers surpassed decliners in the ratio of 47:7, continuing its four-day bull run in a row.
Market activity in volume and value terms for the day were mixed as volume was up by 27.52% to 770.87m shares from 604.53m units recorded on Monday, while value declined by 51.19% to N7.89bn, from N16.17bn. Transaction value for the day got a significant boost from transactions in financial services and conglomerate sector, as trading was heavy in Diamond Bank, FCMB Zenith Bank, Access Bank and Transcorp which topped the activity chart as most traded stocks by volume.

Best performing stocks for the day were , Dangote Flour and FCMB, which topped the advancers’ table, grabbing 10.00% and 9.05% respectively to close at N16.17 and N2.17 each. The gains were propelled by market forces and expectation of full year earnings reports, while UACN Property and Nahco led the decliners table after shedding 4.72% and 4.67% apiece to close at N3.03 and N4.29 respectively, resulting purely from profit taking activities.

TODAY OUTLOOK

The ongoing volatility will continue this morning as profit booking is underway amidst repositioning for earnings reporting season as quarterly and full year score-cards of companies are expected to be in the market any moment from now.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
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. Kindly 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/2018/01/bull-run-continues-caution-ahead-repositioning-earnings-season/

INDICATORS SOAR FURTHER, AS INVESTORS POSITION IN SAFE BETS AHEAD OF EARNINGS SEASON

The nation’s equity market rally extended its momentum on Monday to breakout 52 week resistance level of 39,656.53 basis points, hitting a new four-year high, recording the highest gain so far in the 2018 trading session, setting new intraday highs of 39,851.45 from a low of 38,908.12 on strong positive sentiments and buying pressure to continue its volatility. The market closed positively after consolidating the morning’s big early run-up, which the index consolidated pretty much most of the day as higher cap stocks recorded gains. It was however during the afternoon session it chalked most of the boom to start off the week on a strong note.

Monday’s volatile trading session closed higher to consolidate the three straight days of bull-run on the strength of heavy accumulation of positions in all classes of stocks, whether low, medium or high caps which appreciated to boost the positive market breadth ahead of the upcoming major earnings reporting season. The season kicked off already with vitafoam presenting its full-year earnings report for the period ended September 30, 2017, with the directors proposing a 15 dividend, despite the company’s negative account that had been on for two years (READ MORE).

Market technicals for the day remained positive and strong on the back of dwindling investor interest in Treasury Bills and other money market instruments, supporting the circular flow of funds as institutional money flow index of the market continues to look up, indicating that funds are entering the market. Monday’s equity buying pressure stood at 100%, while selling volume was 0% with volume index of 1.16 points, of the day total transaction.

Nigeria’s external reserves hit $40.4bn on Monday (READ MORE), helped by the rise in oil price to $70 per barrel at the international market, which is a plus for the nation’s market and economic recovery, even as the efforts of the Central Bank of Nigeria (CBN) at ensuring stability of the Naira continues to bear fruit. This huge forex reserve, the highest since 2014, is also despite the CBN’s sustained intervention in the Investors and Exporters’ Window of the inter-bank market which had made the FX market more stable and liquid, attracting inflows to support economic growth and development.

Meanwhile, the All-Share index gained 926.39 points to close at 39,849.65, after opening at 38,923.26, representing a growth of 2.38% on huge traded volume that was lower than Friday’s level. Similarly, market capitalisation for the day was up N327.67bn to close at N14.18 trillion, from an opening value of N13.85tr, which also represented 2.38% appreciation in investors’ portfolios.
The gains recorded in low, medium and high cap stocks like Mobil, Dangote Flour, PZ, Dangote Cement, FBNH, Forte Oil, Zenith Bank, Unilever, UBA, GTBank, NB and Access Bank impacted the NSE’s Year-to-Date returns, pushing it to 4.20%, just as market capitalisation for the same period had accumulated N556.54bn, representing 4.20% growth from its opening value.

The composite index and other sectorial indices closed higher, except for NSE AseM that closed lower.
Market breadth for day remained positive and stronger as the number of advancers outnumbered decliners in the ratio of 37:9, continuing its third-day of up market.

Market activity in volume and value for the day were mixed as volume was down by 19.75% to 604.53m shares from 758.31m units recorded on Friday, while value climbed by 46.65% to N16.17bn, from N11.02bn. Transaction value for the day got a significant boost from transactions in financial services, conglomerate and consumer goods stocks, as trading was heaviest in shares of Transnational Corporation of Nigeria, Nigerian Breweries, Diamond Bank, FCMB and FBNH which topped the activity chart as most traded stocks by volume.

At the end of trading, Conoil and Unity Bank topped the advancers’ table grabbing 10.24% and 9.68% respectively to close at N32.40 and N0.68 each; propelled by market forces, while Vitafoam and C& I Leasing led the decliners table after shedding 4.92% and 4.9% apiece to close at N3.09 and N1.36 respectively. Vitafoam was on profit taking following its unimpressive full-year result that hit the market on Monday.

TODAY OUTLOOK

With the earnings reporting season kicking off with the result by Vitafoam, expect volatility to continue as profit booking amidst the ongoing rally is imminent as stocks are breaking out their resistance levels, while repositioning for earnings reporting season will also continue as quarterly and full year score-cards of companies are expected to be in the market any moment from now.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
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. Kindly 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/2018/01/indicators-soar-investors-position-safe-bets-ahead-earnings-season/#more

NSE Index Closes Opening Week Of New Year Positive First Time In Four Years

It was indeed a superlative first week of 2018 on the Nigerian Stock Exchange (NSE) terms of performance, with the composite All-Share index chalking 1.78% to change three-year history of down market in the first trading week of a New Year as revealed by market data, that revealed down market of 13.03%, 5.63% and 2.32% in the opening week of 2015, 2016 and 2017 respectively.
This could be attributed to change in the holding structure of the market with international players and domestic institutional investors controlling the lion’s share of market activities, leaving a very small fraction of the pie to the retail investors. This factor may have paled the usual January effect into seaming insignificance. We may have to wait until the end of the month to see the effect or not of the said January effect.

Besides the continued volatility, the Nigerian equity market continues to bask under euphoria of positive factors such as the improving investor confidence and expectations of better quarterly, full-year numbers in the coming weeks judging by impressive company fundamentals. These factors have so far triggered an increasing demand for stocks by different classes of investors and traders that are positioning for the major earnings reporting season.

At the beginning of the year, asset reclassification or allocation are carried out by fund managers, following which funds are likely to flow into windows that offer quick returns within the shortest time, as Dividend Yield of many companies remain high and better that returns from other investment windows. At the moment, average yield of Nigeria’s equity market remains above 4.18%, while stocks like United Capital, Learn Africa, NPF Micro Finance and Zenith Bank with Dividend Yield above 6.38%, just like many others in the market.
Given the unstable yield or interest in money market funds, funds are likely to flow into the equity market, especially with the season for dividend payment is around the corner and many companies earnings position support a higher payout, depending on the dividend policies of different companies.

Going by the chart above, the NSE All-Share index’s action has formed a rising channel pattern that supports an uptrend, while the yellow lines show that the market is still on a bullish trend to open the year. Based on index movement and momentum behind the trend, the market’s internals remain healthy for now, while market forces in the new week will determine its next direction.
Market technicalities for the period under view were good with buying pressure at 87% and selling positions of 13%, while the week’s volume index was 1.47 of total transaction. The psychological line of 39,000 point was broken to touch highs of 39,113.68 from the low of 37,646.88 basis points. Market breadth was positive and widened to reflect the value gain of equities.

The benchmark index for the week gained 680.07 points to close at 38,923.26 points, from an opening figure of 38,243.19 points, representing a 1.78% growth on a higher volume of transactions that were driven by financial services and conglomerate stocks.
Market capitalisation for the period closed higher at N13.85tr from the opening value of N13.61tr, representing a 1.78% appreciation in investors’ positions, with low cap stocks dominating the advancers’ table. This is due to their high upside potentials and low price attractions, considering the number of quoted companies. During the week, undervalued tier 2 banking stocks recorded strong growth to top the table.
The value gain due to inter market fund movement and market players positioning in the low, medium and high cap stocks ahead of earnings season lifted the NSE ASI’s year-to-date return to 1.78%. Market capitalisation for the period grew by N240.05bn, representing a 1.78% gain from the year’s opening value.
Market breadth for the week was also positive with the advancers’ outnumbering decliners in the ratio of 56:20 on a huge volume of trades that were higher than previous week’s.

The NSE opened the week on Tuesday on a positive note with marginal gain of 0.06% to consolidate the previous trading session’s up market, which was short-lived, following the second trading day’s 0.20% slide. This was reversed on Thursday when the index gained a robust 1.28%, which was sustained on Fri day of the week when the NSE ASI gained 0.64% to bring the week gains to 1.78%. The composite NSE index and sectoral indices closed higher in the period, except for the NSE Lotus and NSE ASeM that fell by 0.82% and 1.44% respectively to close the week.

Market transaction for the week, in terms of volume and value, were up by 34.21% and 59.93% respectively to 2.42bn shares worth N18.81bn from the previous week 1.31bn units valued at N12.64 billion.

The best performing stock for the first trading week of the year were Sterling Bank and FCMB which gained 30.56% and 28.38% respectively to close at N1.41 and N1.90. This was due to low prices attraction as earnings reporting season draws closer.

The worst performing equity for the period was Mobil, which lost 12.64% to close at N170 on profit taking; followed by NEM’s 7.83% slide on profit taking to close at N1.53.

Market Outlook

This week, expect a continuation of the volatility, as more companies notify the exchange of their closed period and board meetings to approve full-year and quarterly earnings reports, profit taking amidst portfolio repositioning ahead of the new year as more positive economic data are released and earnings reporting season draw closer.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
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. Kindly 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/2018/01/nse-index-closes-opening-week-new-year-positive-first-time-four-years/

2018 Outlook: Superlative Year, But Caution Amidst Political Season, As Portfolio Investors Watch Keenly

The Nigerian Stock Exchange (NSE) is consolidating its superlative gains of 2017 as revealed by closing figures of its benchmark indicators at the end of the first four trading sessions of the week between January 2 and 5, 2018
In the New Year, we expect recovery, growth and expansion of the Nigerian economy to continue through this year and influence the nation’s stock market to new highs, as the macro environment would likely support and boost the ongoing market recovery, despite the meaningful risks associated in stocks investing.

However, the increasing volatility in the market is likely to persist, but market players should target value and enhance it through a dynamic investing and trading approach, especially as 2018 is a pre-election year in Nigeria with its budget being the highest in the history of Nigeria as a nation. There are opportunities and uncertainties to navigate along the way. One of such is the possibility of increased liquidity as politicians and incumbent the governments spend money on campaign and election/re-election activities which in one way or other will trickle down into the stock market by way of increased demand for equities.

As noted earlier, the first trading week of the year has given an insight into what is expected in this first quarter as the volatility of 2017 continues on a bullish trend ahead of the markets major earnings reporting season that will kick off any moment from now with companies having March year –ends like Honeywell Flour Mills expected to present their nine-month score-cards this month. The bullish and recovery environment of 2017 has reflected on prices and although we expect new peaks from here, the pace of return is likely to be significantly higher in the first half of the year before moderating, owing to a likely sell down by foreign investors. This will however depend on the political environment the weeks and months ahead of the 2019 general elections, as the economy and market navigate increasing risks. Investdata believes the combination of higher returns and greater uncertainties make dynamic trading and investing strategies more imperative than ever before as we journey on in 2018.
Valuation for now is a serious concern as many stocks remain undervalued, despite the sustained rally in the market.

Macro-economic Outlook

Along with the political underpinnings of the economy at the moment, we expect Nigeria’s economic expansion to continue but in at a faster pace if the cost of borrowing is reduced by a deliberate easing of the benchmark Monetary Policy Rate (MPR) by the Central Bank of Nigeria’s Monetary Policy Committee (MPR) to further boost capacity, thereby driving sustained growth.
The monetary and fiscal factors supporting expansion and growth must be deliberately made powerful, meaning the fiscal and monetary authorities must focus attention on fixing whatsoever will slow down the ongoing recovery and growth. This, in turn, will make Nigeria’s economy a bright spot among emerging economies at a time policymakers and managers collaborate to drive economic growth that support politics, since without a thriving economy there is no politics.
In addition to a more positive economic data that had been rolled out in 2017, the CBN’s recently released Purchasing Managers’ Index (PMI) for December hit a record high of 59.3 points, compared with 55.9 points in November, indicating an accelerated growth in business activities, employment and inventories within the period.

The PMI measures the nation’s economic health through its manufacturing activities and shows that there was expansion in the Nigerian manufacturing sector for nine consecutive months last year, a situation that was attributed to stability in the foreign exchange market.
Remarkably, the production level index for the manufacturing sector expanded for the tenth consecutive month to 59.3, which points to an increase in production at a faster rate when compared to the 58.5 in the preceding month. The employment level index however staged a rather tepid increase to 53.9 from 53.7 in November.

According to the report, of the 16 subsectors surveyed, 15 recorded growth in activities, especially in areas like petroleum and coal products; and textile, apparel, leather and footwear.
These numbers signal that the economy remains on course for a pickup in growth this year.
The International Monetary Fund (IMF) predicts a 2018 economic growth of 2.1%, citing recovery in oil production on the back of peace in the nation’s troubled Niger Delta region, continued growth in agricultural sector, and higher investment to fix public infrastructure as key drivers as shown by the improved PMI numbers.

We believe sustained stability in the exchange rate of the Naira against major global currencies should provide some level of support for manufacturing output this year, especially if there is a cut in interest rates. Arising from oil production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and challenges being encountered in some member countries, prices have remained above $60 per barrel, which is a plus for Nigeria’s foreign exchange reserves despite a production ceiling of 1.8m barrels per day.
We also expect the global commodity market to generally be range-bound, making it a key area for a more dynamic approach in asset allocation this year.

Inflation

We see inflation rate continuing its southward movement in 2018 after the expected December data that may likely remain flat or inch up to reflect price increase during the festive period.
Importantly, we think the main impact of inflation on asset prices will run through monetary policy, given the expectation that easing in 2018 will boost economic recovery and growth.
We still think the inflation bar is high for policy tightening to continue, irrespectively of the 10-month decline recorded in 2017.

Monetary Policy

We expect monetary policy easing at the beginning of 2018, before full-blown campaign activities by politicians and government begin to boost liquidity once more. The slow approach to easing by CBN’s MPC may limit impact, but when the MPR is cut it will be more significant than what the market is expecting, leading to pressure on bond and money market instrument with funds flowing out into the equity market, especially given the high dividend yield, which would expectedly broaden market volatility.

Politics

The pre-election year expectations and 2018 budget implementation policies/strategies may give room for surprises or dampened confidence that could reverse the positive trends enjoyed so far in the market and economy.
We believe Nigeria’s equity market will adjust appropriately to reflect any situation that is thrown up in the political space at any given time.
Specifically, we have some concerns about the chance of success of the international debt offering in today’s unstable global financial markets. The Federal Government has in recent years grown its domestic debt profile significantly, especially in a year where the prospects of liquidity in the financial system are high with government borrowing to finance infrastructure development and other needs. The government’s decision to flood the market with different type of bonds is already a threat to the capital market.

Conclusion

Investdata believes that Nigeria’s economic recovery will support the stock market as confidence in the whole system will boost savings and investment that will sustain growth, just as there is need to reduce interest rates, given that exchange rate has become relatively stable and expected to boost the real sector and the market to drive productivity and development.
We also expect that the government’s development and social projects would continue driving economic diversification which will boost liquidity and better the purchasing power of Nigerians.
We expect more primary market activities as developmental strategies from the regulators continue to boost confidence in the system, as we see more robust bull market in the first quarter and mixed performance in second half of 2018.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.
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. Kindly 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/2018/01/2018-outlook-superlative-year-caution-political-season/

Investdata Price & Earnings Tracking For the Week Ended January 5, 2018


http://investdata.com.ng/2018/01/investdata-price-earnings-tracking-week-ended-january-5-2018/

MARKET UPDATE FOR JANUARY 4, 2018

EARLY POSITIONING AHEAD OF EARNINGS SEASON, POSITIVE ECONOMIC DATA BUOY INDICATORS


Nigerian Stock Exchange (NSE) basic indicators got a significant boost, the first for the year, on Thursday, helped by the nation’s upbeat economic data, which lifted equity on the bourse as investors and traders continued to reposition in value stocks, while companies with expected quarterly earnings are trending up, thereby supporting the ongoing rally. This resulted to breakout of many resistance levels of stocks in the New Year.
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The continued volatility, change in market holding structure, increasing volume of trades and increasingly positive market breadth revealed rising demand for stocks by investors.
Thursday’s trading session was nonetheless a very volatile, closing higher to reverse the previous down market on the strength of heavy accumulation of positions in all classes of stocks, whether low, medium or high caps, ahead of the upcoming major earnings reporting season.
The day’s trading started out on a gap up that was sustained during the mid-morning but pullback in the midday as profit takers sold down in high value stocks to reduce the day gaining momentum, but retraced up again by the afternoon, hitting intraday highs of 38,848.31 basis points from a low of 38,182.94 before closing at 38,676.12 for the day.

The Purchasing Managers Index (PMI) at 59.3 points in December as released by the Central Bank of Nigeria (CBN) showed great level of activity for the period, revealing a consistent expansionary manufacturing sector over a 10-month period. It was helped by an equally robust foreign exchange market that continued to influence the sector and economy positively, beginning from April when the apex bank introduced Investors and Exporters FX (IEFX) window that supported the ongoing growth momentum and positive macro-economic indices significantly propelled Nigeria’s exit from recession in 2017Q2 when GDP grew by 0.72% (revised).

In other news, the Minister of State for Petroleum Resources told a public hearing on the fuel scarcity by the Senate Committee on Petroleum Resources (Downstream) on Wednesday that the Nigerian National Petroleum Corporation (NNPC) has so far incurred a cumulative loss of N85.5bn on importing petrol in three months, representing a pseudo subsidy, selling at the current N145 per litre. It was also learnt that petrol could go for as much as N175, being the market determined price, since its landing cost is now N171/litre, which resulted in the stoppage of importation by independent marketers. Already, arising from the current crude oil price of $67 per barrel, Saudi Arabia, the biggest member of the Organisation of Petroleum Exporting Countries (OPEC), as well as the United Arab Emirates (UAE) have increased the pump price of petro in their domains, just as Ghana.
Meanwhile, market technicals for the day was strong and positive as funds flows into the market as revealed by institutional money flow index at the close of Thursday’s trading session, just as buying pressure stood at 74%, compared to previous day’s 100% selling position, which signaled positive sentiments for stocks despite the profit taking activities. Volume index stood at 1.52 points, while selling pressure was 24% of the day total transaction.

At the close of trading, Composite NSE All-Share index gained 488.84 points to close at 38,676.12, after opening at 38,187.28, representing a growth of 1.28% on huge traded volume that was higher than previous day’s level. Similarly, market capitalisation for the day was up N173.96bn to close at N13.76tr, having opened at N13.59tr.
The upturn, due to value gain in low, medium and high cap stocks impacted the NSE’s Year-to-Date returns, turning it 1.13% green, from its previous day negative territory, just as market capitalisation for the same period was up by N154.06bn, representing 1.13% growth from its opening value.
The ASI and other sectorial indices closed higher, except for the NSE Consumer Goods and NSE Lotus Islamic that closed red, while the NSE AseM remained flat.

Market breadth for day remained positive and stronger as the number of advancers widened, outnumbering decliners in the ratio of 46:6 to continue its third-day of positive breadth, halting previous day bear market on a strong buying pressure.
Market activity in volume and value for the day were up by 39.95% and 83.23% respectively as investors and traders exchanged 825.13m shares worth N3.88bn, from the previous day’s 589.58m units valued at N2.12bn, boosted by transactions in financial services and conglomerate stocks. Especially, trading was heaviest in shares of Diamond Bank, FCMB, Skye Bank, Sterling Bank and Transnational Corporation of Nigeria (Transcorp), which topped the activity chart as most traded stocks by volume.

Best performing stocks as seen on the day’s top advancers’ table were: Dangote Flour, which notched 10.12% to close at N14.04 each; followed by May & Baker’s 10% gain to close at N2.75 per share; while NEM Insurance led the decliners table after shedding 4.85% to close at N1.57; ahead of Custodian and Allied Plc’s 4.77% at N3.79. The top gainers were propelled by positive earnings and market expectations of their full-year earnings reports and possibility of higher dividend payout, while the laggards were plagued by the profit taking activities of traders.

TODAY OUTLOOK

The ongoing volatility will continue in today’s session but profit booking amidst the ongoing rally is imminent as stocks breakout of their resistance levels, while repositioning for earnings reporting season will also continue as quarterly score-cards of companies already reveal stronger numbers that support dividend payment.

However, we would like to reiterate that investors should go for value equities, especially during this season that 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.

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. Kindly 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
https://investdataltd..com.ng/2018/01/market-update-for-january-4-2018.html

VOLATILITY CONTINUES AS NSE STRUGGLES FOR DIRECTION AS TRADERS BOOK PROFIT




Market Update for January 3

Trading on the floor of the Nigerian Stock Exchange on Wednesday remained very volatile, reversing previous day’s up market on the strength of losses suffered by highly capitalized stocks during the afternoon session as profit takers sold down their stake in Dangote Cement, Mobil Oil and Nigerian Breweries.

Trading started with upside gap up which lasted till midday before gradually pulling back by the afternoon after touching an intraday high of 38,543.28 to close lower than its opening point at 38,187.28 due to market sentiments for high cap stocks that recently rallied.
Market technicals was strong as volume increased, just as there was positive market breadth, indicating that players are taking position ahead of quarterly and full year numbers that are underway, especially the March accounts, where stocks like 7-Up, Honeywell Flour, Flourmills and International Brewery are expected to release their third quarter results this month. Numbers from the consumer goods sector before now have been impressive, following which the market has continued to take position ahead of their full year numbers.

This 2017 extended volatility in the market is giving insight into what should be expected in the major earnings reporting season kicking off any moment from now with Q3 numbers ushering in the earnings season, which would last from February to April. Within this period, discerning and smart investors would be rewarded with good returns on their investment at a time when dividend yields of more companies are expected to outperform returns on Treasury Bills and other fixed income securities. These are investors who recorded return on their investment above 21% per annum (or 5.25% for 90days).

This is why funds might flow out of other investment windows for quick returns from the few value stocks that have strong numbers to support dividend payout, despite the oscillation right now in the market. There is need for the Federal Government to enhance the positive macro-economic fundamentals which have so far reflected in the companies by taking necessary steps hasten the recovery process to boost growth and development.
Meanwhile, at the close of mid-week’s session, the Nigerian Stock Exchange’s composite All-Share index shed 77.51 points to close at 38,187.28, after opening at 38,264.87, representing a decline of 0.20% on above average traded volume.

Similarly, market capitalisation lost N27.58bn to close at N13.59tr having opened at N13.6tr.
This pushed its Year-to-Date returns into negative territory at 0.06%, just like market capitalisation for the same period was down by N18bn from its opening value.
Market breadth for mid-week remained positive and stronger as the number of advancers outpaced decliners in the ratio of 37:11 to continue the two day positive breadth, just as the number of advancers increased on a high buy volume.

Transaction volume and value for the day climbed by 137.87% and 18.80% respectively to 589.58m shares worth N2.12bn, from the previous day’s 248.17m units valued at N1.74bn. This was boosted by transactions in financial services sector and conglomerate stocks, especially in Skye Bank, Diamond Bank, FCMB, Fidelity Bank and Transcorp, which topped the activity chart as most traded equities by volume.

The benchmark index and few sectorial indices closed red, including the NSE Industrial and NSE Oil/Gas, while others closed green except for the NSE AseM that was flat.
Also, at the end of the day’s transactions, Diamond Bank led the advancers table with 9.55% to close at N1.72 per share, followed by FCMB with 9.49% to close at N1.73 each, while Double One (11) led the decliners table with a loss of 9.15% to close at N176.80; followed by Neimeth with 8.00% to close at N0.69. The top gainers were due to positive market forces and sentiments ahead of their full year earnings reports and low price attraction, while top losers were profit booking by traders to reposition.

TODAY OUTLOOK

This volatility trend may continue in today’s session but in the early hour of trading the market may struggle for direction as traders are likely to book profit from stocks hitting new highs, while repositioning for earnings reporting season will also continue as quarterly numbers of the companies reveal stronger numbers that support dividend payment.
However, we would like to reiterate that investors should go for value equities, especially during this season that 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.

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. Kindly 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/2018/01/volatility-continues-nse-struggles-direction-traders-book-profit/

SEC EXTENDS FORBEARANCE FOR MULTIPLE SHARE SUBSCRIPTION TO MARCH






Photo Caption: Director, External Relations, Securities and Exchange Commission Mr. Henry Rowlands, Coordinating Director Operations, SEC, Ms Mary Uduk and Acting Director General SEC Dr. Abdul Zubair during a Press Briefing on the ongoing Capital Market initiatives in Abuja Tuesday.

Acting Director General of Securities and Exchange Commission (SEC), Dr. Abdul Zubair, on Tuesday announced a three-month extension of the deadline for investors with multiple subscription to consolidate such into a single account.

Addressing newsmen in his Abuja office, he said the forbearance now ends on March 31, 2018, he said, explained that “investors that bought shares of the same company during public offers, using different names, are allowed till 31st March, 2018 to continue to approach their Stockbrokers or Registrars, to regularize their shareholdings, in line with SEC Rules on customer identification.”
At the expiration of the deadline, all such unregulaised shares, he warned “shall be transferred, on trust, to the Capital Market Development Fund”.

Zubair disclosed further that in line with approved rules of the Commission; all Registrars have been directed to stop the issuance of dividend paper warrants with effect from January 1, 2018.
Consequently, he said, all paper dividend warrants issued up till December 31, 2017 remain valid and should be honoured by banks and registrars.
Also, with the expiration of the free electronic dividend registration deadline on December 31, 2017, the SEC urged investors who did not take advantage of the window to continue the enrollment, at the cost of N150 only.

Such investors, he advised, “should continue to approach their banks or registrars, as usual, to seamlessly mandate their bank accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue; as the N150 would not be demanded from them at the point of registration.

“For the avoidance of doubt, the N150 fee would not be demanded from the investors at the point of registration and/or submission of completed e-Dividend Mandate Forms.”
Commenting, Director External Relations of the SEC, Henry Rowlands said the commission consulted with other stakeholders to ensure that the process is seamless; adding that investors should entertain no fear of being charged until their registration is approved.

He however explained that, “Where the investor’s account is not funded, the parties have agreed that such an enrolment request will be disapproved because the account is not funded and the investor will be alerted accordingly”

http://investdata.com.ng/2018/01/sec-extends-forbearance-multiple-share-subscription-march/

INVESTDATA PRICE & EARNINGS TRACKING FOR YEAR ENDED DECEMBER 29, 2017

https://investdataltd..com.ng/2018/01/investdata-price-earnings-tracking-for_4.html

2018: OPTIMISM, OPPORTUNITIES, UNCERTAINTIES, MIXED SIGNALS FOR TRADERS, INVESTORS


2017 STOCK MARKET REVIEW AND OUTLOOK FOR 2018
The chart above highlights the monthly changes in the NSE ASI for 2017, with up months represented by green and down periods, red. January and February were down while March to July were up markets, while there were corrections in August and September before the rebound in October, November and December on highly volatile months and days to close the year in green.

The year 2017 was remarkable for bull ascendency as predicted by Investdata during its annual Traders and Investors Summit tagged INVEST 2017, which held on December 3, 2016, after putting into consideration the preceding three straight years of down market induced by multiples of factors. These included the crisis of market confidence, the fact that Nigeria was deep into economic recession, even as politicians were busy passing the bulk instead of fashioning a blue-print to give the economy some form of direction, which was made worse by the delay in appointing economic managers. There was also the factor of low commodity prices in the international market which affected government revenue.

The nation’s stock market at the beginning of the year 2017 was flat but bottomed out in April on the strength of better-than-expected 2016 full-year and 2017 Q1 earnings reports. The effect of this was enhanced by a review of the Central Bank of Nigeria (CBN) Foreign Exchange policy, leading to the introduction of Investors & Exporters window that boosted FX liquidity, resulting in a relatively stable exchange rate regime which impacted positively on the nation’s manufacturing sector and economic activities.
The ensuing rally was supported by low valuation, rising crude oil prices that helped to boost external reserves and government revenue at a time the Muhammadu Buhari administration unveiled its Economic Recovery & Growth Plan (ERGP). This was meant principally to structure the government’s economic diversification efforts, which highlighted the administration’s focus on infrastructure development and agriculture to ensure self-sufficiency in food production and create employment for the country’s teeming youth population, while further driving recovery and growth.
The positive economic data and companies’ numbers were sustained during the year, reflecting on the prevailing economic expansion that strengthened the market and economic fundamentals that affected domestic and international investor confidence which boosted demand for equities.
The impact of the improving liquidity in the fx market continued as a result of the CBN’s sustained intervention, helped by the Executive Order on improving the Ease of doing business signed by the then Acting President Yemi Osinbajo.

Despite the tightened monetary policy of the CBN during the year, inflation figures continued a slow decline, with expansionary manufacturing sector as shown by the Purchasing Managers’ Index (PMI), which remained above 50 points to signal increasing activities in the sector, regardless of the unclear implementation style of the budget and execution of it ERPG agenda by government.
Meanwhile, it was an activity packed year for regulators of the market as the improved confidence triggered a flurry of primary market activities as over 15 companies approached the market with right issues that were successful, just as three companies had their shares listed on the bourse by way of introduction.

Nigeria’s market also witnessed many regulatory actions against market infractions, the most popular among which was the suspension of Oando Plc’s shares on the Nigerian Stock Exchange (NSE) and the appointment of forensic auditors led by Akintola William Deloitte; as well as Partnership investment Company over unauthorized sale of clients’ shares, in a bid to boost market confidence beyond 2017.

The development and growth of the Nigerian capital market during the year were driven mainly by technology to promote transparency that kept both domestic and international investors’ as trading and investing were made simple with the use of online trading platforms. This allows investors trade from the comfort of their homes and offices, with access to real-time market information that enables them take quick investment decisions as more market operators created online portal for their clients to trade directly on their own. This helped to significantly increase the number of traders in the market as more people sought to create more streams of income, especially those seeking to be financially independent through the stock trading and investing.

Helped by interplay of all these factors, Nigeria’s NSE All Share Index, at the end of trading for the year on Friday, December 29, 2017, gained 11,368.57 points to recover more than two years of losses, closing at 38,243.19, after opening at 26,874.62 basis points, representing 42.30% growth. The market however tasted a peak of 39,656.53 and low of 24,547.37 within the year under consideration.

The bullish range and galloping prices were in line of expectations to rank the nation stock market among the best five performing exchange in the world and Africa as it created wealth for players in the year under consideration, despite the negative start on the first trading day and month of the year under review, characterized by the January effect scenario and fear of unimpressive 2016 full-year earnings, which however surprised all. This changed market sentiments, giving insight into the 2017 rally, which supported the better than expected quarterly earnings reports and positive macroeconomic indices, thereby attracting more investors and traders to the market as reflected in the transaction volume and value, as many low, medium and high cap stocks recorded 52-week and new highs.

The market uptrend lasted for 10 months after the first two months of the year that was down and side-trended in August/September with oscillating movement that was attributed to profit taking after five months of bullish run.

A review of the market’s sectoral indices indicated that only the NSE AseM of the 11 indexes closed the year down, shedding 8.60%, while others closed the year up.



The NSE Banking topped the sectorial indexes’ performance chart chalking all of 73.32% in 2017; followed by the NSE Pension index which reflected the power of consistent dividend paying stocks on equity price performance.
As stipulated by the National Pension Commission (Pencom), investment of the nation’s huge pension assets in the stock market must be in companies that had consistently paid dividend for five years and most of the stocks that meet this condition are mostly blue chips of which players in the banking sector account for more than 40%. Next was NSE Premium index that has two banking and one industrial goods stocks. Others followed as revealed by the chart above.

Price appreciation of equities in 2017 was attributed to other factors including growth in the global economy, relatively stable currencies in developed economics and market resulting from crude oil price recovery at the beginning of the year due to supply cut, the flood in the U.S. There was also the unrest in the Middle East which influenced oil production and price in the year under review. CBN intervention in the fx market impacted the economy positively, despite the delayed budget passage by the National Assembly, the government’s poor implementation style, tight monetary policy, high interest rate and high unemployment rate. Available data shows that market liquidity was boosted by the dominant foreign and institutional players. It is a long established norm that markets dependent on foreign funds tends to move in the direction dictated by such fund owners as they move in and out of the market at any given time. Knowing the danger of foreign investor dominance in any stock market, local investors and traders should plan their trades for any eventuality in 2018.

Where Stocks Are Headed

We would like to share our top trading and investment themes in 2018 and where market sectors, stocks, domestic and global economies are headed in the first half of 2018 and beyond as discussed during Investdata’s December 9, 2017 INVEST 2018 SUMMIT where experts challenged investors to stay with value enhancing stocks to generate good returns, while at the same time protecting their capital.
This they agreed, has become necessary, considering the opportunities presented by the 2018 Appropriation Bill submitted to the National Assembly by President Muhammadu Buhari, taking note of uncertainties surrounding the period, being a pre-election year. Also fifteen trade-able stocks with high upside potential were recommended at the summit, meaning if you are ready to make money in 2018 trading or investing, get the home study pack.
The possibility of continued volatility and uptrend in the first three months of 2018 is high.


Best Performing Stocks in 2017
SECURITIES
SECTOR
OPEN
CLOSE
% Change
DANGOTE SUGAR
Consumer Goods
6.11
20.00
227.33
INT'L BREWERIES
Consumer Goods
18.50
54.50
194.59
FIDELITY
Financial
0.84
2.46
192.86
FIDSON HEALTHCARE
Healthcare
1.28
3.70
189.06
DANGOTE FLOUR MILLS
Consumer Goods
4.25
12.15
185.88
STANBIC IBTC HOLDINGS
Financial
15.00
41.50
176.67
MAY & BAKER
Healthcare
0.94
2.60
176.60
FBNHOLDINGS
Financial
3.35
8.80
162.69
C&I LEASING
Services
0.50
1.29
158.00
AIRLINE SERVICES AND LOGISTICS
Services
2.50
5.95
138.00
UBA
Financial
4.50
10.30
128.89
NASCON ALLIED INDUSTRIES PLC
Consumer Goods
8.50
18.50
117.65
NESTLE NIGERIA
Consumer Goods
810.00
1555.99
92.10
CEMENT CO. OF NORTHERN NIG.
Industrial Goods
5.00
9.50
90.00
ACCESS
Financial
5.87
10.45
78.02
ZENITH INT'L PLC
Financial
14.75
25.46
72.61
PRESCO
Agribusiness
40.10
68.50
70.82
DIAMOND
Financial
0.88
1.50
70.45
TRANSNATIONAL CORPORATION
Conglomerates
0.87
1.48
70.11
OKOMU OIL PALM
Agribusiness
40.17
67.69
68.51
ECOBANK TRANSNATIONAL INC
Financial
10.28
17.00
65.37
GUARANTY
Financial
24.70
40.75
64.98
SEPLAT
Oil/Gas
379.99
626.22
64.80
HONEYWELL FLOUR
Consumer Goods
1.30
2.10
61.54
BETA GLASS
Industrial Goods
32.00
51.31
60.34
NEM INSURANCE
Insurance
1.05
1.66
58.10
FLOUR MILLS
Consumer Goods
18.49
29.00
56.84
CADBURY NIGERIA
Consumer Goods
10.29
15.67
52.28


In the year under review, 65 stocks recorded gains, 12 of which share prices rose by more than 100%, compared to just three equities that recorded triple-digit price appreciation in 2016. Also, more than 30 stocks recorded two-digit capital growth for the same period to create value for investors. The top five gainers were: Dangote Sugar Refinery’s 227.33%; International Brewery had 194.59%; while Fidelity Bank, Fidson Healthcare and Dangote Flour recorded capital growth of 192.86%, 189.06% and 185.88% respectively.
A further breakdown showed that the consumer Goods and banking stocks dominated the best performance table for the year 2017, a situation that may likely continue in the New Year with other stocks that had performed well within the period, on the strength of improving companies, market and economy fundamentals


Worst Performing Stocks in 2017
SECURITIES
SECTOR
OPEN
CLOSE
% Change
FORTE OIL PLC
Oil/Gas
84.43
43.48
-48.50
UNIVERSITY PRESS
Services
4.24
2.28
-46.23
MRS OIL NIGERIA
Oil/Gas
43.24
27.46
-36.49
MOBIL OIL NIG.
Oil/Gas
279.00
194.60
-30.25
JULIUS BERGER
Construction
38.58
28.00
-27.42
CONOIL
Oil/Gas
37.48
28.00
-25.29
TOTAL NIGERIA
Oil/Gas
299.00
229.95
-23.09
TRANS-NATIONWIDE
Services
1.00
0.78
-22.00
7-UP BOTTLING
Consumer Goods
129.00
101.97
-20.95
NIGERIA ENAMELWARE
Industrial Goods
29.33
23.23
-20.80


On the flip side, more than 40 stocks were on the year’s laggards’ table, dominated by petroleum stocks. The top five are: Forte Oil, which lost 48.5% of its opening price for the year; University Press, 46.23%; while MRS Oil, Mobil Oil and Julius Berger were down by 36.49%, 30.25% and 27.42% respectively.

The year ended with stocks on the Nigeria bourse still relatively undervalued on the strength of strong numbers, even as data by the National Bureau of Statistics (NBS) showed that Nigeria’s economy grew by 1.4% in Q3 2017 from 0.72% (revised) in the preceding quarter, amidst expectations that Q4 could even be better. It is expected that the CBN in the New Year would review its monetary policy stance as part of greater collaboration in 2018 to boost economic activity and export. The return of foreign portfolio investors due to the nation’s rising reserves level as the Organisation of Petroleum Exporting Countries (OPEC) extended its supply cut to 2018, as government revenue improves, helping implementation of the year’s budget, which we hope would be enacted in good time.

In the New Year, investors should keep their gaze on stocks in industries such as: Consumer goods, industrial goods, hospitality, energy, agriculture, financial and services that have recorded earnings uptrend in the last financial year and still have strong earnings power that could further drive their prices.

The global economy is likely to continue its expansion through 2018 but the pace of growth is likely to moderate on the downside amidst risks to current pace for different reasons across US, Europe and Middle east, as Britain exit from Eurozone and policy change in US continue.
Investors should be optimistic in the New Year, but be ready to navigate between the opportunities and uncertainties in 2018 as our detailed outlook for 2018 that will be publish next week and the outcome of the INVEST 2018 TRADERS & INVESTORS SUMMIT revealed a mixed signal for the year.


Dream it! Wish it! Do it! Enjoy it! Don’t Miss out

Best regards

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/2018/01/2018-optimism-opportunities-uncertainties-mixed-signals-traders-investors/

MARKET UPDATE FOR JANUARY 2, 2018

SUSTAINED VOLATILITY AS INVESTORS TAKE PROFIT, REPOSITION FOR EARNINGS SEASON

The first trading session of 2018 was highly volatile, closing positive after opening with sharp gap down that lasted till midday, recording almost 549 basis points’ decline before it rallied back by the afternoon on the strength of price appreciation of some stocks, as traders and investors began taking position ahead of early filer reports likely to hit the market this month. This was especially the case for companies billed to file their third quarter earnings for March year end accounts, while December full-year accounts are underway, especially from Forte Oil, Nigerian Breweries, United Capital and Nestle, which results are expected to be in the market latest in February, given that their accounts do not require approval by a primary regulator like the banks and their insurance cousins.

The January effects may not be much this year as market structure had changed with more foreign investors playing the market heavily, controlling over 62% of transactions, leaving the remaining for Pension Fund Administrators and domestic institutional players, while retail investors are seemingly left with the crumbs and having minimal impact to affect the market’s direction. The sale of their shares to meet personal financial obligations, including school fees and house rent at this time of the New Year would therefore have minimal effects, following which the positive disposition of the market is likely to be sustain on a continued volatility in expectation of quarterly and full year scorecards for listed companies.

Market technicals for the day was mixed as market breadth was positive on a decline volume that signal accumulation of smart money in the market after a downside in the morning and rallied back above the opening figure to touch intraday highs of 38,264.7 from lows of 37,678.34 but retraced back above 38,000 psychological line to keep the positive uptrend momentum.
The continued appreciation of the Naira and oil price remaining above $60 per barrel on Tuesday in the international market, well above the 2018 budget benchmark of $45pb, meaning there is already surplus to fast-track some projects that will boost the recovery and growth recorded so far.This is a plus that would further push up government’s revenue, while enhancing the nation’s foreign reserves, despite the 1.8m barrels per day production cap set by the Organisation of Petroleum Exporting Countries (OPEC).

Meanwhile, the Nigerian Stock Exchange’s All-Share index inched up by 21.60 basis points to close at 38,264.79, from the 38,243.09 points, representing a 0.06% growth, just as market capitalisation moved in the same direction, climbing up by N7.69bn to close at N13.7tr, from previous day’s N13.69tr, representing a 0.06% value growth. The upturn recorded resulted from appreciation in the prices of stocks such as: Nigerian Breweries, PZ, UBA, Dangote Sugar, Zenith Bank, Access Bank, CAP, Fidelity Bank Fidson, Nascon, International Brewery and Honeywell Flour Mills. These impacted positively on the ASI’s year-to-date returns, to 0.06%, just as Year-to-Date growth in market capitalisation stood at N7.69bn, representing a 0.06% rise over the year’s opening value.
Market breadth for the day was positive as the number of advancers outpaced decliners in the ratio of 27:13 on a relatively low traded volume that was lower than last trading day of 2017 level.
Transactions in terms of volume and value were down by 55.72% and 74.12% respectively to 248m shares worth N1.74bn from previous day’s 561m units valued at N6.89 billion. The day’s activity was driven mainly by shares of Transnational Corporation of Nigeria (Transcorp), Zenith Bank, Skye Bank, FCMB and Access Bank, which topped the volume chart.

Biggest gainers for the day were FCMB and Chemical & Allied Products which topped the advancers table, chalking 6.76% and 5% respectively to close at N1.58 and N35.70 on positive market forces.
On the flipside, NEM Insurance and Ecobank Transnational Incorporated shed 4.82% and 4.29% to close at N1.56 and N16.27 respectively on profit taking activities of investors.

TODAY’S OUTLOOK

Being the mid-week and second trading day of 2018, expect volatility to continue on Wednesday as traders take profit and reposition for the weeks and months ahead. Meanwhile, smart money could continue their accumulation of shares in value stocks ahead of the 2018 earnings reporting season. The positive outlook for emerging market in the New Year as a result of high commodities price is a major attraction as currencies and exchange of these developing markets are relatively stable. This is in addition to undervalued assets in these exchanges.
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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which includes 15 stocks picks for 2018 are available now to guide your positioning as trading for the year just started.

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. Kindly 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
https://investdataltd..com.ng/2018/01/market-update-for-january-2-2018.html

2017 FULL YEAR BEST PERFORMING STOCKS ON EARNINGS REACTION

Looking closer to the market reaction to earnings reports released for Q3 2017 will give an insight into what to expect of the full year earnings reports when they are presented to the Nigerian Stock Exchange (NSE) in 2018, considering the economy recovery as the monetary and fiscal authorities try to complement each other at this point.
It must be noted that the market situation today and performance of 2016 are different, given that the factors on ground in the market currently are very much positive because the economy has finally come out of recession and continuing on the path of recovery and growth. These factors have equally reflected on the market and companies fundamentals.

The Nigerian stock market is truly becoming a barometer to measure actually activities in the economy, as some analysts have argued, judging from the fact that it was the first to go into recession long before the Nigerian economy began to exhibit the traits, closing negative for three consecutive years. The market’s indicators also turned green month-on-month long before the National Bureau of Statistics (NBS) confirmed Nigeria’s positive GDP growth in the second quarter of 2017. The market also has confirmed the inflow of domestic and foreign capital seeking for best returns.
Investdata Research believes that price movement of equities at the time earnings reports were released to the market should guide investors and traders to know what to expect when the full-year numbers eventually come seeing how the market responded in Q3.

What you discover as market reaction when the full year earnings reports start pouring in beginning from first quarter of 2017 (between January and March) may surprise.
The table below shows how market reacted to positive numbers and negative reaction days as the stock’s price declined when the companies presented their 2016 full-year score-cards. The best performing stocks are those that gained the most on their earnings reaction days.

SECURITIES
Sector
Released Date
5-Day %Change
FIDELITY
Financial
4/7/2017
25.00
MOBILE
Oil/Gas
3/30/2017
22.03
NASCON
Consumer Goods
4/5/2017
21.41
NESTLE
Consumer Goods
3/2/2017
21.23
DANGOTE FLOUR
Consumer Goods
4/5/2017
17.92
CAP
Industrial Goods
3/29/2017
15.75
CONOIL
Oil/Gas
6/21/2017
15.74
UACN
Conglomerates
3/31/2017
15.38
ASL
Services
5/3/2017
14.25
NB
Consumer Goods
2/20/2017
13.04
DANGOTE SUGAR
Consumer Goods
3/31/2017
12.56
NAHCO
Services
4/5/2017
12.27
CONTINENTAL RE
Insurance
3/14/2017
12.26
BETA GLASS
Industrial Goods
3/3/2017
10.00
TRANSCORP
Conglomerates
3/1/2017
8.69
LAFARG AFR
Industrial Goods
2/22/2017
7.92
MANSARD
Insurance
3/30/2017
5.63
NEM
Insurance
3/31/2017
5.00
UBN
Financial
3/31/2017
4.80
STERLING BANK
Financial
3/30/2017
4.29
C&I Leasing
Services
3/3/2017
4.00
CHAMPION
Consumer Goods
3/27/2017
2.92
FBNH
Financial
4/27/2017
2.57
CADBURY
Consumer Goods
3/21/2017
1.74
CUSTODIA
Insurance
3/28/2017
0.63

As revealed by the table above, Fidelity Bank ranked first with a huge gain of 25.6% on its earnings reaction for five trading sessions, which means it gained over 5% daily on the average within its first five days; followed by Mobil Oil with a gain of 22.03%, and ahead of National Salt’s 21.41%. Other top gainers within the period under review were: Nestle, Dangote Flour and CAP. Notice also that on the list, Consumer Goods manufacturing stocks occupied the top five position, except for Fidelity Bank and Mobil. This should give the investing community an insight into where to look for best numbers in the coming earnings season, even as the banking industry remains a honey-pot for discerning investors, especially helped by improved liquidity in the system, powered by the recovery mode of the economy.
SECURITIES
Sector
Released Date
5Day% Ch
FO
Oil/Gas
1/31/2017
-18.96
DIAMOND BANK
Financial
4/4/2017
-13.19
MAY&BAKER
Healthcare
3/31/2017
-12.00
LIVESTOCK
Agribusiness
2/28/2017
-11.76
DANGOTE CEMENT
Industrial Goods
2/28/2017
-11.68
NPF
Financial
3/3/2017
-7.09
AFRICAN PRU
Other Financial
2/23/2017
-6.51
FIDSON
Healthcare
3/30/2017
-5.00
CCNN
Industrial Goods
3/27/2017
-4.89
UCAP
Other Financial
2/16/2017
-4.86
CAVATON
Services
3/31/2017
-4.30
TRANSNATION WIDE
Services
3/29/2017
-4.00
GSK
Healthcare
2/28/2017
-3.31
FCMB
Financial
2/28/2017
-3.20
UBA
Financial
3/24/2017
-2.71
STANBIC
Financial
3/22/2017
-2.70
ZENITH
Financial
2/27/2017
-2.57
TOTAL
Oil/Gas
3/15/2017
-2.54
ACCESS BANK
Financial
3/6/2017
-1.91
GUARANTY
Financial
3/8/2017
-1.73
UNILEVER
Consumer Goods
3/23/2017
-0.93
SEPLAT
Oil/Gas
3/31/2017
-0.28

The worst performed in earnings reaction days for the period was Forte Oil that topped the table with 18,96 percent, next was Diamond Bank with 13.19 percent followed by May & Baker, Livestock Feed and Dangote Cement.
Let the tables above guide you this period that prices are relatively high on the strength of liquidity and confidence as you position for expected earnings to know how to set your target if the reports are positive or negative when the market react to it. It is important to set target as every investment is against expectation, if not met exit on time to cut loss and protect your capital.

The improving nation forex reserve a plus for the market and economy in 2018.
Nigeria’s external reserves recorded one of its most significant jumps this year, when it soared by a princely $2.834bn or 8.11% in just three weeks, when it closed December 21, 2017 at $37.78bn, from $34.945bn at the end of November 2017, according to data available on the website of the Central Bank of Nigeria (CBN) on Friday.
Month-on-Month, the nation’s reserves level soared by $3.35bn or 9.73% from $34.429bn on November 21, 2017; while Year-to-Date (YTD), it rose $11.936bn or 46.18% from $25.843bn on December 31, 2016.
Year-on-Year, Nigeria’s reserves level jumped $12.47bn or 49.27% from $25.309bn on December 21, 2016.

Data gleaned from the CBN’s website, month-on-month, by Investdata Research showed that the last time the nation’s reserves rose higher was in February, when it stood at $29.646bn on February 28, 2017, after climbing by $3.803bn or 14.72% from $25.843bn at the end of January.
Investdata Research also note that the reserves growth slowed down in March and was flat in the following month, before dropping in May and June, first to $30.329bn from $30.864bn in the preceding month; and then $30.288bn in June.

Growth thereafter commenced slowly between July and November, before attaining its new peak, which according to Mrs. Patience Oniha, Director-General of Nigeria’s Debt Management Office (DMO), may have resulted from sources besides the regular inflow of funds from portfolio investments and earnings from crude oil and other non-oil export proceeds, which are warehoused by the CBN.

Addressing Nigeria’s capital market community on Wednesday in Lagos, at the listing of the $3bn Eurobond and $300m Diaspora bond for trading on the Nigerian Stock Exchange (NSE), Mrs. Oniha said the latest borrowing from the international capital markets would besides helping the Federal Government restructure its mix of foreign and domestic debts, reducing debt servicing costs, also “supports Nigeria’s foreign reserves and the private sector.

https://investdataltd..com.ng/2018/01/2017-full-year-best-performing-stocks.html

INVESTDATA PRICE & EARNINGS TRACKING FOR THE WEEK ENDED DECEMBER 22, 2017
https://investdataltd..com.ng/2018/01/investdata-price-earnings-tracking-for.html

AHEAD OF ELECTION YEAR: EQUITY ANALYSTS URGE INVESTORS TO FOCUS ON VALUE STOCKS, PROTECT CAPITAL

Experts and analysts in Nigeria’s equity market say despite the huge gains recorded so far as shown by the upward movement of the Nigerian Stock Exchange’s Composite All-Share index, there are still subtle opportunities between the performance of companies and the ongoing economic recovery that can be exploited in the coming weeks and months by discerning investors to guaranty juicy returns on their investments.

The experts, who spoke at the INVEST 2018 traders & investors summit in Lagos, challenged investors to stay with value enhancing stocks and ensure they generate good returns, while at the same time protecting their capital.
This they agreed, has become necessary, considering the opportunities presented by the 2018 Appropriation Bill submitted to the National Assembly by President Muhammadu Buhari, wherein the Federal Government is proposing to spend N8.6tr; just as the uncertainties surrounding the period, being a pre-election year.

Specifically, the analysts noted that the uncertainties around 2018 has to do with the politics of the general elections in February 2019, when Nigerians would go to the polls to elect their leaders at the state and federal levels, considering how messy such period have been in the past both in Nigeria and elsewhere, including the advanced economies. Nigeria’s is made worse, they continued, by the fact that going by data from the NSE, the market is dominated by foreign and institutional players, whose stock in trade has always been to dump shares without notification, should the political environment become charged and inspire fear of the unknown. For such investors, the norm is “safety first.”

According to Temitope Babalola, Head, Economy Desk, at Proshare Nigeria Ltd, an investment, market and economy portal, although the emerging positive economic data in Nigeria are good, they do not measure returns but activities that produce the returns in all the assets classes. It is the economic data such as inflation, Purchasing Managers’ Index, Consumer confidence index and GDP, among others that signal where the economy is heading, to guide investment decisions.
“Growth remains largely fragile, (following which there is) the possibility of the lingering fragile growth leading to economic stagnation,” he warned.
He also drew attention that with 2018 budget which is the pre-election bill, warning that politics would take the front row, “while economics takes the back seat,” a factor investors and traders must watch.

Babalola, who spoke on why investors should factor in budget 2018 to their decisions next year, drew attention to the fact that although GDP grew by 1.4% in Q3, most of the sectors that were resilient in the past are still negative, including the non-oil sectors like ICT, real estate and manufacturing. He added that with Nigeria’s oil production at 2.03 million barrels of oil per day, up from 1.64mbpd and 1.87mbpd in the corresponding quarter of 2016 and 2017Q2 respectively, which has now come under threat, he continued, with the decision of the Organisation of Petroleum Exporting Countries (OPEC) to peg Nigeria’s output at 1.8mbpd. That decision alone, he continued, cuts Nigeria’s revenue projection by about N530bn, leaving the authorities with the option of either increasing the oil price benchmark in the budget, or raising the country’s deficit level.

For Alhaji Kassimu Kurfi, a Chartered Accountant and chief executive of APT Funds & Securities Ltd, another facilitator, Nigeria’s stock market has so far benefited immensely from the Central Bank of Nigeria (CBN) introduction of the Investors & Exporters’ foreign exchange market window thereby stabilizing the exchange rate of the Naira by making forex available. This, he continued, has improved forex particularly via portfolio investments inflow into the market and the economy at large.
At a time like this in our politico-economic history, he urged participants (Investors) to go for fundamentally sound stocks and avoid penny stocks, especially with the new pricing rule of the NSE that would allow stock prices to go lower than the former flow of 50 kobo, to as low as one kobo beginning from January 28, 2018.
He listed stocks that have stagnated at current 50k per value to include: most insurance stocks like African Alliance and Guinea Insurance; FTN Coca, Tantalizer, Daar Communications; DN Tyre & Rubber; Academy Press, ABC Transports, RT Briscoe, Afromedia, Japaul Oil; e-Tranzact; Omatek; Chams; First Alluminium; Thomas Wyatt; and Courtville. Another category of stocks that have had their price oscillating between 50k and N1.00 only, include: Wema Bank, Unity Bank, WAPIC Insurance, Livestock Feeds and AIICO Insurance, among others.

He identified other stocks that sell for between N1, but below N5 and risk falling into the 1 kobo quagmire, unless their boards and managements take measures to boost their performance as: Fidson Healthcare, African Prudential, United Capital, FCMB, Fidelity Bank among others.
The majority of stocks on the NSE are those selling above N5, but below N99.00, such as Unilever, Guinness, 7-Up Bottling Company, Okomu Oil Palm and Presco; just as he identified champion stocks that sell above N100 per share, like Nestle, Dangote Cement, Sepat Petroleum Development Company, Nigerian Breweries, Total and Mobil Oil (Double One).

Convener of the summit and Chief Research Officer of Investdata Consulting Ltd, Ambrose Omordion, took participants through how to invest with earnings released date, noting that while markets reaction to full year earnings reports is long, knowing when funds are leaving the market or individual stocks is key.


On his part, Engr. Mike Ekwueme, also a facilitator took participants through the economic model that combines both Fundamental and Technical Analysis when picking stocks, while Rasheed Momoh of TRW Stockbrokers Ltd demonstrated how participants can identity emerging trends before majority of market participants, using different chart patterns and thereby enhance their returns.

https://investdataltd..com.ng/2018/01/equity-analysts-urge-investors-to-focus.html

Season Greetings from Investdata Ltd

https://investdataltd..com.ng/2017/12/season-greetings-from-investdata-ltd.html

INVESTORS 2018 TRADERS SUMMIT HOME STUDY PACK IS NOW AVAILABLE ON CDs AT 10% DISCOUNT


Investors Home Study Pack comes in nine training CDs


In the pack you will find:

1• How to generate a consistent income trading stocks on your own via phone and laptop

2• The power of trading quarterly and full year earnings reporting season

3• Our rules-based approach to trading stocks.

4• How our buy & sell signal setup works

5• How to take advantage of best market timing strategies to positon before Major market earnings reporting season.

6• How to quickly and accurately “predict” the next market reaction and move

7• Learn why trading less is making more and how to make use of trend identification, resistant and support to double your returns

8.Learn how to follow the institutional money flow.

9. How to use stock market to buy and sell and much more



Price for complete CD pack:
N20,000 for request outside Lagos State
N15,000 for request within Lagos State

To order your INVEST 2018 TRADERS Summit Pack. Call 08028164085,08032055467 NOW.

ARE YOU READY FOR 2018 INVESTMENT YEAR?

Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family... Kofi Annan

Knowledge and action is really what differentiate you from other people. Just as food is good, energise, grow and keep the body healthy so also is knowledge for your mind.

Furthermore, knowledge is what keeps our mind in good shape, it helps remove prejudice, bias and lower risk when taking decision inclusive of investment decisions which is why they always say that it is what we don't know that affects us.

Similarly in stock, it is knowledge that helps you understand the current trends, models and systems that will help you get the best ROI and reduce the risk. Because things are changing fast and it is only through knowledge that you can change adapt fast.

If you look indepth, knowledge about the market that was valid yesterday is no longer valid today which is why I get took my time to package my INVEST SUMMIT into a home study pack so that you can have what it takes to subdue 2018 investment and not make the same mistakes I did in the past.

In the pack you will find:

1• How to generate a consistent income trading stocks on your own via phone and laptop

2• The power of trading quarterly and full year earnings reporting season

3• Our rules-based approach to trading stocks.

4• How our buy & sell signal setup works

5• How to take advantage of best market timing strategies to positon before Major market earnings reporting season.

6• How to quickly and accurately “predict” the next market reaction and move

7• Learn why trading less is making more and how to make use of trend identification, resistant and support to double your returns

8.Learn how to follow the institutional money flow.

9. How to use stock market to buy and sell and much more



Price for Cds:
N20,000 for request outside Lagos State
N15,000 for request within Lagos State

We are also offering 10% discount for purchase between now and 5th January, 2018 to appreciate our clients, subscribers and followers this festive period.

Happy Trading,
Ambrose Omordion

Action is very key. If you acquire all the knowledge in the world without putting it into practice then, you are not different from someone who does not know at all. However, you really want to take the action but you don't know where to start from. No time get started by ordering INVEST 2018 TRADERS Summit Pack. Call 08028164085,08032055467 NOW.

https://investdataltd..com.ng/2017/12/are-you-ready-for-2018-investment-year.html

Again, Dangote, BUA Make Counterclaims Over Ownership Of Okpella Mining Sites

While the public eagerly await the court ruling on the dispute over ownership of Mining Lease No 2541 in Obu, Okpella, in Edo State between Dangote Industries Ltd and BUA Group, both conglomerates again continued their verbal war with each asserting their claims and counters.
Dangote Group in a statement on Thursday night, which it said was to further re-assured its shareholders, the regulators and members of the public that it is the true owner, faulted “BUA’s fraudulent claim that the Dangote Group is trying to monopolize the cement business in the Country.”

It said “BUA has willfully, deliberately and mischievously concealed the fact that it has at least 12 Mining/Quarry Leases within and around the area in question as opposed to this sole Mining Lease No 2541 owned by the Dangote Group.”
However, in its response Friday morning, BUA management accused Dangote Group of furthering “its cycle of misinformation over the mining dispute… through falsehoods and bigger lies,” stressing that Dangote Group is playing “to the gallery.”
BUA Group said “without equivocation that it has never laid claim to ML2541 as our operations covered by ML18912 and ML18913 are in Obu, Okpella, Edo State and not Okene, Kogi State where Dangote’s license 2541 is sited.”

Electronic copies of supporting documents seen by Investdata News, show that Mining Leases No. 19912 was granted to Bendel Cement Company Limited, located at KM 34, Auchi-Okene Road, Okpella, PMB 033, Auchi, Edo State, upon “that parcel of land measuring 73.342 hectares at Obu-Okpella, Etsako Local Government Area of Edo State; as well as ML 18913 measuring 80.343 hectares also in Obu-Okpella, both for a term of 21 years from October 24, 1997.
The documents dated June 17, 1998, was validated by the Ministry of Solid Minerals Development taskforce for revalidation of mining leases, licences and permits, published in the Thisday newspaper edition of Tuesday, February 7, 2006, titled: “outcome of the revalidation, titled “outcome of the revalidation exercise conducted between 31st October and 30th November, 2005.”

Therein, ML18913 and ML18912 were listed on the said publication against the name: Edo Cement Company Limited.
Another document also showed that Bua International Ltd, on June 15, 2017, paid N1,299.00 as royalty on 43,300 tons of limestone for the month of March 2007, and another N1.302m to the Federal Ministry of Mines and Steel Development Fees in respect of ML785, ML18912, ML18913 and 9559QLS, “being April 2017, royalty for limestone from the sites at 62, Jattu Road, Auch Edo State branch of UBA Plc on May 10, 2017.

Meanwhile, according to documents also cited by Investdata News, Dangote Group’s mining lease was issued by the Ministry of Mines and Steel Development’s Cadastre Office, Abuja as No. 2541ML, granted to AICO Ado Ibrahim & Co. Ltd. The lease was for mining marble at Okene, Kogi State and granted with effect from February 1, 2008, for 25 years (Until January 31, 2033), after which it is renewable.

Another document available to Investdata News is the minutes of Interstate Boundary Technical Committee meeting on Edo/Kogi Interstate Boundary of February 28, 2006, chaired by Malam Yahaya Abdulkarim, then Minister of State for Works, with members such as Prof. A.E. Ekoko, Commissioner, Interstate Boundaries, National Boundaries Commission (NBC), and 13 others, asides others including M.J. Esewe, Surveyor-General of Edo State, O. Ofiare, his deputy and G.O Osayunde, the Secretary of the State Boundary Committee, J.F.O. Bamsa, Kogi State Surveyor General and J.O. Ipenida, Secretary of the State Boundary Committee, as well as five others.

The meeting (also attended by the Surveyor-General of the Federation, I.A.A Adewola, who presented a digitalized map of the Edo/Kogi Interstate Boundary highlighting the sectors in dispute), resolved among others, “that in the Obu Marble site- Okpella/Okene Sector, the alignment of the boundary line should follow the Edo State claim line.”
With all of these proofs, BUA in its statement wonders how Dangote Group can “claim to be in possession when even their predecessor-in-title, AICO, was issued its license 10 years after BUA’s licenses was issued and two years after the completion and commencement of production at our over $1billion Obu Cement Factory?”

It noted that AICO had instituted a suit at the Federal High Court, Lokoja claiming to assert its title to ML2541, and then went ahead to transfer its title to Dangote, adding that “Dangote further applied to the courts to assert his rights to ML2541.”
BUA further wondered how a party claiming to be in possession “ask the courts to assert his rights to his license?”
The group restated its earlier call that anyone faulting “the court’s pronouncement to preserve status quo should write to the courts for an interpretation. The court made a pronouncement and Dangote’s lawyers cannot deny knowledge of that. The onus is not on us, as they have wrongly alleged to provide an order of the court but rather they should seek an interpretation from the courts if they so wish.

But Dangote, in its own statement said: “There is no Status Quo Order made by any Court that allows BUA to continue mining over the disputed Mining Lease area. In fact, there is no Status Quo Order at all. It is critical for us to point out that there is currently pending, a Motion for Interlocutory Injunction dated 27 April 2016 seeking to restrain the BUA Group from continuing with its illegal mining activities on the Mining Lease Area but in spite of having been served with this application and contrary to all tenets of the law which forbid a party served with an Interlocutory Injunction Motion from taking any step in respect of the subject matter of the Suit, the BUA Group has in utter disdain to the Court continued with its illegal mining activities.”

In response, BUA Group recalled a December 5, 2017 court session, when “counsel of BUA raised the issue of the encroachment by the Ministry and Dangote in its Mining areas covered by ML18912 and ML18913 at the courts.
“When this matter was raised, counsel to Dangote and the Minister of Mines promptly apologized and they were thereafter cautioned by the courts that once a matter is before a court, no party should take any step that will affect the subject matter of the court.”
Also, while Dangote accused BUA of using the media to cause confusion, BUA said it has become “aware that Dangote Group will stop at nothing to keep pushing these false narratives as well as keep distracting from the core issue at hand, we once again enjoin Dangote Group and their cohorts to await respectfully, the outcome of the judicial process.”

It also noted that Dangote applied for a Mining Lease over the same area in 2013 and was rejected by the Ministry on the sole ground that it overlaps ML. 2541 and at the time belonged to AICO.
“If BUA had title that dates back to 1998, is there any conceivable reason why it will apply for the same title over the same area in 2013” the statement queried.

Dangote, while debunking the claim by BUA that it is trying to monopolize the cement business stated that: “It is misleading for BUA to falsely accuse Dangote of undermining its operations and attempting to create a monopoly in the Cement Industry in Nigeria, as we have always coexisted peacefully with other competitors in Obajana and Ibese.”

http://investdata.com.ng/2017/12/dangote-bua-make-counterclaims-ownership-mining-lease/#more

INVESTORS TAKE ADVANTAGE OF PULL-BACKS, POSITION FOR 2017 YEAR-END, 2018 EARNINGS SEASON

Market Update for December 21

Trading on the Nigeria Stock Exchange had an up-market on Thursday to consolidate mid-week reversal move on a strong volatile retracement to finish the session higher on a good and positive technicals that signaled traders taking position for end of the year rally after the market had pullback before now. With the increasing number of institutional and foreign players in the market ahead of full year earnings reporting season, the possibility for down market is slim due to change in market holding structure of less retail players that will be selling to meet personal needs for the new year. On this note January effect will be subject to market forces, as volatility continue in 2018 but let the numbers posted for third quarter guide your positioning for dividend income as higher payout is likely to come with 2017 full year earnings reports.

Trading started with a disappointing gap down and continued through the mid-morning to midday but retraced up in the afternoon, holding resistance and thereafter had a 5-wave advance move that kept the market in the rising channel near its first resistance level of 38,436.83. NSE All Share index intraday movement hit the highs of 38,350.64 from lows of 37,790.07 on a strong volume and positive market breadth.
The two trading sessions of 100% buying pressure revealed increasing demand for stocks as volume index stood at 0.87 of the day’s total transactions to continue the two-day bull run.

Meanwhile, at the end of trading, the composite index NSEASI gained 416.78 basis points at 38,350.64 from the opening 37,933.86 points, representing a 1.10% growth, just as market capitalisation went up by N148.38 billion to close at N13.65 trillion from an opening value of N13.50 trillion, representing also 1.10% value appreciation.
The sustained upturn was due to value gains recorded by medium and high cap stocks like ETI, Dangote Cement, Access Bank, UBA, Dangote Flour, Seplat and FBNH. This further impacted positively on the NSE’s year-to-date return, lifting it to 42.70%, just as YTD growth in market capitalisation stood at N4.4tr, representing a growth of 47.59% above the year’s opening value.
Market breadth for the day was positive as advancers outnumbered decliners in the ratio of 23:13 on a high traded volume that was higher than previous day’s level.

Activities in terms of volume and value were mixed as volume was up by 106.54% to 429.38 million share from the previous day 207.89 million units while value decline by 55.46% to N1.51 billion from previous day’ position of N3.39 billion. Transactions were driven by activities in Aiico, Transcorp, Fidelity Bank, FCMB and UBA topped the volume chart.
Berger Paints and Redstar Express were the top performing stocks for the day with gains of 4.94% and 4.92% respectively to close at N8.49 and N5.12 each on market forces. On the other hand, Dangote Sugar and Total Nigeria shed 5.75% and 4.78% to close at N19.34 and N219 respectively on profit taking.

TODAY’S OUTLOOK

Being the last trading of the week ahead of long holiday, expected volatility to continue as traders accumulate more value stocks that has high upside potentials despite profit taking as fund manager balance trade and account for the last quarter and year in order to meet target and earn their management fee. Add this to positive economic data that had continue to inspire confidence in the market and economy. The positive outlook for emerging markets in 2018 as a result of high commodity prices is a major attraction as currencies of these developing markets remain relatively stable.

All of these factors begin to make much more sense to investors when you add the undervalued nature of assets on these exchanges.
Again, we advise that investors allow numbers to 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which is out already.
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. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.

We in investdata wish all our esteemed clients, supporter, Resource Persons, Participants at our summits, one on one coaching class students and followers in the social media Happy Christmas and profitable new year. Also bring to your notice that closing down partially on Friday December 22, 2017 to resume second week of January. But our news and update continue on the site. For urgent attendance call 08111811223or 08028164085

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/2017/12/investors-take-advantage-pull-backs-position-2017-year-end-2018-earnings-season/

VOLATILITY MAY LINGER, AS TRADERS POSITION IN WINNING TRADE, AMIDST PORTFOLIO BALANCING

The stock market on Wednesday had a turn-around to the upside, halting two sessions of down markets on strong volatile mood as smart money and fund managers position for end of the quarter and year to meet set targets and earn their portfolio management and advisory services fees. The recent market correction resulting from profit taking in preparation for the festive season has also created a buying opportunity for discerning investors and traders alike, ahead of the 2017 full-year and 2018 first quarter earnings reporting seasons, as end of wave 4 comes close to usher in a 5-wave extension at the end of Wednesday’s trading session. The mixed technicals at the end of mid-week trading are yet to give clear direction until Thursday’s market open to confirm direction.

The Nigerian Stock Exchange (NSE) composite All-Share Index (ASI) opened lower and slipped downward between the mid-morning and midday, retracing up by the afternoon to hit intraday highs of 37,933.86 from a low of 37,661.17 on a low volume traded, but positive market breadth to close near the highs for the day.

The selling pressure in the two previous days turned to a buying position of 100% on Wednesday as volume index stood at 0.43 of the day’s total transactions to reverse the two-day bear transition.
Trading closed with the benchmark Index gaining 150.10 basis points at 37,933.86 from the opening 37,783.76 points, representing a 0.4% growth, just as market capitalisation went up by N53.39bn to close at N13.5tr from an opening value of N13.45tr, representing also 0.40% value gain in investors’ position.

Mid-week’s upturn was as a result of price appreciation recorded by low, medium and high cap stocks like Dangote Cement, Zenith Bank, GTBank, UBA, Stanbic IBTC, Unilever, Seplat and FBNH. This impacted positively on the NSE’s year-to-date return, lifting it to 41.15%, just as YTD growth in market capitalisation stood at N4.21tr, representing a growth of 45.95% above the year’s opening value.
Market breadth for the day was positive as the number of advancers slightly outweighed decliners in the ratio of 23:22 on a below-average traded volume that was lower than previous day’s level.

Activities in terms of volume and value were down by 68% and 37.58% respectively to 207.89m shares worth N3.39bn from previous day’s 649.63m units, valued at N5.43bn. Transactions were driven by activities in Sterling Bank, Guaranty Trust Bank, Diamond Bank, UBA and Fidelity Bank topped the volume chart.

The best performing stocks at the end of the day were Champion Breweries, Linkage Assurance and Seplat that topped the advancer’s table, gaining 5% apiece to close at N2.10, N0.63 and N567.05 each on market forces. On the other hand, Flour Mills and PZ shed 4.99% and 4.98% to close at N28.36 and N21.38 respectively on market forces and profit booking.

TODAY’S OUTLOOK

The ongoing volatility is expected to continue as traders take advantage of pullback to position and accumulate more in wining trades amidst profit taking in expectation of year-end rally as fund manager balance trade and account for the year in order to meet target and earn their management fee. Add this to the declining interest rate in the money market which is likely to trigger circular flow of fund again into the equity market. The positive outlook for emerging markets in 2018 as a result of high commodity prices is a major attraction as currencies of these developing markets remain relatively stable.

All of these factors begin to make much more sense to investors when you add the undervalued nature of assets on these exchanges.
Again, we advise that investors allow numbers to 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which is out already.

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. Kindly call or send yes to 08032055467, 08028164086 or 08111811223.
We in investdata wish all our esteemed clients, supporter, Resource Persons, Participants at our summits, one on one coaching class students and followers in the social media Happy Christmas and profitable new year. Also bring to your notice that closing down partially on Friday December 22, 2017 to resume second week of January. But our news and update continue on the site. For urgent attendance call 08111811223or 08028164085

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/2017/12/volatility-may-linger-traders-position-winning-trade-amidst-portfolio-balancing/

PORTFOLIO REBALANCING TAKES CENTRE STAGE AS INVESTORS, TRADERS POSITION FOR YEAR-END


MARKET UPDATE FOR DECEMBER 19


Trading on the Nigerian Stock Exchange on Tuesday continued its downside trend on a strong selling pressure. It must be noted that the losing momentum in the index slowed down, even as profit booking persisted amidst the yuletide season, sustaining the volatility wave ahead of the year-end rally induced by portfolio managers and the 2018 earnings reporting season.
The session opened lower, before slipping in a three-wave decline to continue the correction by midday and then bounced in the afternoon to reduce the day’s loss. The benchmark index closed near the lows for the day at 37,783.73 from intraday high of 37,960.63, on a negative market breadth and huge volume traded which was driven principally by conglomerate- Transnational Corporation of Nigeria (Transcorp), with mixed sentiment of buying trades of 57%, while selling position of the stock was 43%.

The day’s market technicals was weak with negative breadth, volume declined marginally and index on the southward direction as selling pressure stood at 100% and volume index, 1.33 of the total day transaction.
Meanwhile, the NSE All-Share Index shed 174.20 basis points to close at 37,783.76 from the opening 37,957.91 points, representing a 0.46% decline. Similarly, market capitalisation was down by N61.97 to close at N13.45tr from an opening value of N13.51tr, representing 0.46% value depreciation in investors’ portfolios.

The sustained downturn resulted from value losses recorded by low, medium and high cap stocks like Nigerian Breweries, Dangote Cement, Zenith Bank, Flour Mills, Dangote Sugar, GTBank, UBN and ETI. This further impacted negatively on the NSE’s year-to-date return, reducing it to 40.59%, just as YTD growth in market capitalisation dropped to N4.2tr, representing a growth of 45.41% above the year’s opening value.
Market breadth for the day was negative as the number of decliners outnumbered advancers in the ratio of 26:15 on a huge traded volume that was lower than Monday’s level.

Activities in terms of volume and value were down by 13.32% and 99.58% respectively to 649.63m shares worth N5.43m from previous day’s 752.11m units, valued at N127.93bn. Transactions were driven by activities in Transcorp, FBNH, Zenith Bank, GTBank, and Thomas Wyatt topped the volume chart.
At the end of the day’s trading session, Livestock Feeds and Unilever topped the advancer’s log, gaining 4.88% and 4.45% respectively to close at N0.86 and N41.99 each on market forces. On the other hand, C & I Leasing and Dangote Sugar shed 5% and 4.99% to close at N1.33 and N20.57 respectively on profit taking and market forces.

TODAY’S OUTLOOK

Ahead of mid-week’s trading, expect volatility to continue as traders position in the mix of profit taking in expectation of yearend rally as fund manager balance trade and account for the year in order to target and earn their management fee. Add this to the declining interest rate in the money market which is likely to trigger circular flow of fund again into the equity market. The positive outlook for emerging markets in 2018 as a result of high commodity prices is a major attraction as currencies of these developing markets remain relatively stable.
All of these factors begin to make much more sense to investors when you add the undervalued nature of assets on these exchanges.
Again, we advise that investors allow numbers to 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.

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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which is out already.

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. Kindly 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
https://www.google.com/url?hl=en&q=http://investdata.com.ng/2017/12/portfolio-rebalancing-takes-centre-stage-investors-traders-position-year-end/&source=gmail&ust=1513854194486000&usg=AFQjCNGOnSbXLB5IXwKevu-i8jv7fcZyog

BUDGIT CALLS NASS ATTENTION TO N73.3BN ‘SUSPICIOUS’ APPROPRIATIONS IN 2018 BUDGET

BudgIT, a civic tech organisation promoting increased standards of transparency, citizen engagement & accountability in Nigeria’s public finance, on Monday said it had discovered “suspicious and frivolous items’ buried in the 2018 Appropriation Act now under consideration at the National Assembly.
The sum of all such suspicious items already discovered is about N73.3bn tucked in the budgets of the State House (Presidency), Ministries of Power, Works and Housing, as well as its Industry, Trade and Investment counterpart, DSS, Office of the National Security Adviser, among others.

One of such suspicious items, to which BudgIT drew the attention of the National Assembly on its twitter handle is a vague N22.6bn voted for “Research and Development” by the Federal Ministry of Industry, Trade and Investment headquarters.
It also seeks to know beneficiaries of a N19.3bn Export Expansion Grant (EEG) appropriated also for the same ministry and whether it does not conflict with the mandate of other agencies.
For the Federal Ministry of Power, Works and Housing headquarters, there is a N10bn vote for “Settlement of liability in MDGS (Millennium Development Goals), SDG (State Development Goals (SDGs) and direct mandate projects.
According to BudgIT, “it is important to know the SDGs and Direct Mandate Projects. If there’s an office for SDGs with huge budgets, why is this the role of the Federal Ministry of Power, Works and Housing?

The group also drew the attention of members of the National Assembly to a N5.5bn project titled: “Support for infrastructure, projects and coordination services,” in the Federal Ministry of Agriculture and Rural Development headquarters.
BudgIT expressed worry that “in a pre-election year these suspicious items without detailed definition can be abused,” wondering what such expenditure head means.

The worry becomes even more compounded, BudgIT continued, with a N4.9bn project titled: “Annual routine maintenance of mechanical/electrical installations of the Villa,” in the State House headquarters, wondering that N4.9bn can be voted for ‘routine’ installation as capital project considering how much a university or teaching hospital gets yearly.
Also in the budget for the Federal Ministry of Power, Works and Housing, managed by Babatunde Fashola, a former two-term governor of Lagos State, is a N4bn project titled: “Building maintenance works for other MDAs in Abuja.”

BudgIT is worried that the same MDAs have made provisions for building maintenance in their respective budgets and as such the amount could have been buried there with plans to exhume and appropriated for other undeclared purposes.
There is also N2.21bn for “Social Media Mining Suite” for the Directorate of State Security Service (DSS); while the Office of the National Security Adviser provided N1.14bn for “Cleaning & Fumigation Services.

“We need to be sure that this has to do with refuse,” BudgIT tweeted, stressing: “This is outrageous.”
Also for the State House, Abuja, is a N907.1m provision for “phased replacement of vehicles, spares and tyres in the Presidential, CVU/Police escort and State House operational fleet.”
Wondering how such can be classified as capital project, BudgIT tweeted: “N907.1m for cars and spare parts again? Every year, Nigeria budgets for new cars and State House has budget for maintenance of vehicles.”
In the budget of the Nigerian Electricity Regulatory Commission (NERC) is a N750m provision for “Floor and wall partitioning of new head office building, just as Investdata wonders how much it cost to erect the building.

Investdata recalls that on May 18, 2017, Vice President Yemi Osinbajo in his capacity as Acting President, signed an executive order directing Federal Government MDAs to immediately give preference to goods from local manufacturers, contractors and service providers over those imported.
Specifically, the order requires that “Made-in-Nigeria products shall be given preference in the procurement of the following items and at least 40% of the procurement expenditure” on certain items in all such MDAs.
Such items include uniforms and footwear of military and para-military organisations, as well as the National Youth Service Corps; food and beverages; furniture and fittings; stationery; and motor vehicles. Others are pharmaceuticals; construction materials; as well as information and communication technology.

Heads of all MDAs of the FGN were subsequently given 90 days from the date of the order to, among others, “propose policies to ensure that the Federal Government’s procurement of goods and services maximises the use of goods manufactured in Nigeria and services provided by Nigerian citizens doing business as sole proprietors, firms, or companies held wholly by them or in the majority.”

Such findings were to be submitted to the Minister of Industry, Trade & Investment, who shall within 180 days from the date of the order, in consultation with the Director-General of the Bureau for Public Procurement, “submit to the President, a report on the Made-in-Nigeria initiative that includes (such) findings… (including) specific recommendations to strengthen the implementation of Local Content Laws and local content procurement preference policies and programmes.”

It is not known if such an Executive Order aimed at encouraging domestic manufacturers and boosting the nation’s economy is already being effected. It is also not known whether Nigeria’s pride in vehicle manufacturing- Innosons would be considered in all of these huge appropriations.

http://investdata.com.ng/2017/12/budgit-calls-nass-attention-n73-3bn-suspicious-appropriations-2018-budget/

MARKET UPDATE FOR DECEMBER 18, 2017


VOLATILITY TO CONTINUES AS INVESTORS, TRADERS TAKE PROFIT, REPOSITION FOR 2018 EARNINGS SEASON

The nation’s stock market recorded another decline on Monday, reversing previous session’s gains on a continued volatility to start the trading week on a huge volume of trades driven by large capitalized stocks, particularly the increased activity in Dangote Cement over the past one year and six months. This should ordinary attract the attention of discerning long-term and dividend income investors, especially as improvements in profit level and expansion of capacity within and outside Nigeria continue. This is a pointer to the fact that investors have seen value, considering that institutional players and foreign investors entrance into the company.

The November inflation figure released on Monday by the National Bureau of Statistics (NBS) was flat as expected at 15.90%, from 15.91% in October due to relatively high price of food and other core products/services for the period ahead of the ongoing yuletide season. Also noticeable in the inflation data is the fact that it has been declining marginally over the past 10 months helped by the Central Bank of Nigeria’s continued intervention in the foreign exchange segment of the inter-bank market, which has kept the impact of imported inflation in check, despite the infrastructural problem-induced cost of production, which had not made the decline very meaningful. This has consolidated the positive economic data released so far that confirm the economy is still on the path of recovery and growth that will sustain the market volatility till 2018.

Monday’s market technicals was mixed with breadth at its equilibrium, volume on the increased and index declining on a selling pressure of 86% and buying volume of 14% on a volume index of 0.42 of the total day transaction. This is outside the one cross deal involving 549.97m shares of Dangote Cement at N225.68 each.

Trading for the day started on a losing note, which was reversed by the mid-morning to rally and pullback to close lower after touching intraday high of 38,486.26 and low of 37,871.65.
Meanwhile, the composite NSE All-Share Index shed 478.12 basis points to close at 37,957.96 from the opening 38,436.08 points, representing a 1.24% decline. Similarly, market capitalisation was down by N170.15bn to close at N13.51tr from an opening value of N13.68tr, representing 1.24% value loss in investors’ position.

The downturn recorded was as a result of losses suffered by high cap stocks like Dangote Cement, Access Bank, Zenith Bank, Flour Mills, Dangote Sugar and Stanbic IBTC.
This impacted negatively on the year-to-date return of the All-Share index, reducing it to 41.24%, just as YTD growth in market capitalisation reduced to N4.21tr, representing a growth of 45.63% above the year’s opening value.

Market breadth for the day was flat as the number of decliners and advancers were equal in the ratio of 19:19 on a huge traded volume that was higher than last Friday level.
Activities in terms of volume and value were up by 76.86% and 1295.09% respectively to 752.11m shares worth N127.93bn from previous day’s 425.26m units valued at N9.17bn. Transactions were driven by activities in Dangote Cement, Guaranty Trust Bank, Zenith Bank, FBNH, and UBA topped the volume chart.

Best performing stocks at the end of the day’s trading were Presco and Vitafoam that topped the advancer’s log, gaining 8.81% and 5% respectively to close at N72.00 and N2.94 each on positive market sentiments, just as Vitafoam’s full year result is expected any moment from now. On the other hand, Cadbury and Eterna shed 5.89% and 5.00% to close at N13.90 and N3.99 respectively on profit taking.

TODAY’S OUTLOOK

Ahead of today’s trading, expect volatility to continue being the last full trading week of the year that will usher in the year 2018, as traders take profit and seek information to reposition, especially with positive inflation figure for November. Add this to the declining interest rate in the money market that is expected to result in more private sector lending, just as full-year earnings season is in view. The positive outlook for emerging markets in 2018 as a result of high commodity prices is a major attraction as currencies of these developing markets remain relatively stable.
All of these factors begin to make much more sense to investors when you add the undervalued nature of assets on these exchanges.

Again, we advise that investors allow numbers to 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.
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. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack on INVEST 2018 Traders & Investors Summit and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable. You can also still access stocks analysed in the home study pack of the INVEST 2018 traders & investors summit, which is out already.

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. Kindly 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
https://investdataltd..com.ng/2017/12/market-update-for-december-18-2017.html

Top Energy Nigeria Ltd

Top Energy Nigeria Ltd is the smart, simple solution to your energy needs. Our top-notch mode of operation provides you with the best performance you seek.

We have trained team of skilled professionals working round the clock in providing first class products and services delivery that are second to none. Our clientele needs are topmost priority, driving our core value at the forefront of management operation in the oil and gas industry here in Nigeria and Africa at large.

We are licensed Oil & Gas Company established in Lagos, Nigeria. We are into Sales and Distribution of Petroleum Motor Spirit (PMS), Automotive Gas Oil (AGO), Dual Purpose Kerosene (DPK), Low Pour Fuel Oil (LPFO) and Gas at affordable prices.

Address: Plot 2 Samelein, Off Opebi links bridge, Oregun, Ikeja, Lagos State.
Phone: +2347037302693, +2347035158433, +2348170462044
Email: info@topenergynigeria.com
michael@topenergynigeria.com
iykopress@yahoo.com
Website: http://topenergynigeria.com/

Top Energy Nigeria Ltd

Top Energy Nigeria Ltd is the smart, simple solution to your energy needs. Our top-notch mode of operation provides you with the best performance you seek.

We have trained team of skilled professionals working round the clock in providing first class products and services delivery that are second to none. Our clientele needs are topmost priority, driving our core value at the forefront of management operation in the oil and gas industry here in Nigeria and Africa at large.

We are licensed Oil & Gas Company established in Lagos, Nigeria. We are into Sales and Distribution of Petroleum Motor Spirit (PMS), Automotive Gas Oil (AGO), Dual Purpose Kerosene (DPK), Low Pour Fuel Oil (LPFO) and Gas at affordable prices.

Address: Plot 2 Samelein, Off Opebi links bridge, Oregun, Ikeja, Lagos State.
Phone: +2347037302693, +2347035158433, +2348170462044
Email: info@topenergynigeria.com
michael@topenergynigeria.com
iykopress@yahoo.com
Website: http://topenergynigeria.com/

L'Reme Enterprise

We are suppliers of Seafood, frozen food and poultry products to Hotels, Restaurants and Caterers.
Our products include but are not limited to Prawns, Shrimps, Lobster, Crabs and all kinds of fishes from Barracuda, Sole fish, Mackerel, Croaker, Ink Fish to Salmon, Tilapia and much more.

We also deal in Turkey, Chicken, Snails, and Gizzard etc.
Our expert experience as suppliers to many of the country's prestigious hotels, restaurants and caterers provides us with the specific knowledge required to deliver fresh, quality and prompt product and service.


Joyce Awoyinka
Ceo & Founder
+447459075358, +2348065497326
Email: lremeenterprise@gmail.com
Head Office: 17, Ayodele Okeowo Street, Soluyi, Gbagada, Lagos State
Branch: Ijora Cool wharf, Opposite Wema Bank, Ijora Olopa, Lagos, Nigeria
https//www.lnstagram.com/lremeenterprise/
https//www.facebook.com/lremeenterprise/

L'Reme Enterprise

We are suppliers of Seafood, frozen food and poultry products to Hotels, Restaurants and Caterers.
Our products include but are not limited to Prawns, Shrimps, Lobster, Crabs and all kinds of fishes from Barracuda, Sole fish, Mackerel, Croaker, Ink Fish to Salmon, Tilapia and much more.

We also deal in Turkey, Chicken, Snails, and Gizzard etc.
Our expert experience as suppliers to many of the country's prestigious hotels, restaurants and caterers provides us with the specific knowledge required to deliver fresh, quality and prompt product and service.


Joyce Awoyinka
Ceo & Founder
+447459075358, +2348065497326
Email: lremeenterprise@gmail.com
Head Office: 17, Ayodele Okeowo Street, Soluyi, Gbagada, Lagos State
Branch: Ijora Cool wharf, Opposite Wema Bank, Ijora Olopa, Lagos, Nigeria
https//www.lnstagram.com/lremeenterprise/
https//www.facebook.com/lremeenterprise/