₦airaland Forum

NGPTC, NNPC Arm, Reports 30% Drop, As 2016 Net Profit Falls To N15.81bn

The Nigerian National Petroleum Corporation (NNPC), on Sunday said its subsidiary- the Nigerian Gas Processing and Transportation Company Limited (NGPTC), formerly Nigerian Gas Company (NGC) suffered N6.79bn or 30.04% decline in net profit for the year ended December 31, 2016.
A statement by Ndu Ughamadu, Group General Manager, Group Public Affairs Division at the corporation said the company’s net profit dropped to N15.81bn from N22.6bn in the corresponding full year of 2015, despite a N64bn or 41.15% growth in sales revenue.
Even then, Ughamadu continued, the 2016 profit was due to the write-back of deferred tax put at N8.05bn in 2015, quoting Engr. Saidu A. Mohammed, Chief Operating Officer of NNPC’s Gas and Power Autonomous Business Unit and Chairman of NGPTC, as saying at its Annual General Meeting in Abuja last week that the net profit translated to Earnings Per Share (EPS) of N3,163; as against prior year’s N4,510.
Continuing, Engr. Saidu said the company’s total revenue from gas sold and transmitted during 2016 amounted to N219.5bn as against N155.5bn in 2015, out of which profit before tax for the year rose 16.8% to N24.4 billion from N20.9 billion in 2015.
Earnings growth, he explained further was due to revenue generated from application of higher transportation tariff and new commercial customers that came on stream.
“An overview of NGPTC’s business performance for the year 2016 shows that 307 billion standard cubic feet (bscf) of gas was sold and transmitted as against the planned 463 bscf, thereby achieving 66.4% of its target. The year 2016 also reveals a performance of 4% below the volume of 319.25 bscf sold in 2015.”
He noted that the Company was confronted with the challenges of incessant vandalism of the Escravos-Lagos Pipeline System 1 (ELPS 1), Trans Forcados pipeline and evacuation bottleneck of condensate in 2016.
Saidu acknowledged the continued support of NGPTC’s host communities for the sustained peace and tranquility in the Company’s areas of operation.
Speaking at the event, Managing Director of NGPTC, Babatunde Bakare, stated that the corporate culture of the Company was hinged on the unwavering commitment to excellence, best ethics and team work.
He applauded stakeholders for their support to the NGPTC, adding that the 22nd AGM financial statement for 2016 would enable the Company to sustain its record of excellent corporate standing.
“Indeed, 2016 was historic given that Nigerian Gas Company (NGC) changed its name to Nigerian Gas Processing and Transportation Company Limited (NGPTC) to better reflect NGPTC’s new business focus and the birth of a new gas marketing company, Nigerian Gas Marketing Company (NGMC),” Bakare stated.

http://investdata.com.ng/2017/10/ngptc-nnpc-arm-reports-30-drop-2016-net-profit-n15-81bn/#more

MARKET UPDATE FOR OCTOBER 5, 2017


VOLATILITY PERSISTS AMIDST PORTFOLIO REPOSITIONING, SPECULATION, AHEAD OF Q3 EARNINGS SEASON

Nigeria’s stock market indices had an interesting but volatile session on Thursday. The day opened with the benchmark index in the red, moving to strong support level by midday, after which it had a strong rally between midday and the afternoon session as high cap stocks appreciated in value, following which the day closed significantly positive.
There was a breakout of strong resistant level of 35,680 as intraday rally hit high of 35,778.98, from a low of 35,155.08 which is around the new month’s support level. The current breakout of the consolidated sideways narrow range resulted from portfolio repositioning and speculations ahead of expectations that the earnings season that had just kicked off with light reporting from few companies would rev into steam. Already, more companies have been announcing their Q3 closed period in preparation of making the actual numbers available within stipulated 30-day grace period after quarter end by regulators of the market, which ends on October 31.

The smart recovery recorded on Thursday was on the back of a high volume, positive market breadth and high buying pressure as revealed by the volume index for the day that stood at 1.24, while buying position was at 100% and 0% selling volume of the day’s transaction. The trend was a continuation of previous day’s up market but on an even stronger positive technicals that support new uptrend that would be confirmed by sentiment when trading session opens on Friday morning.
The All Share index gained 415.41 basis points to close at 35,773.98 from an opening figure of 35,358.57 which represented a 1.17% growth, just as market capitalisation for the day went up by N142.99bn to close at N12.314tr, from the previous session’s N12.171tr, representing a 1.17% value gained in investors’ portfolios.

The upturn in the share prices of blue chips companies like Lafarge Africa, Dangote Cement, UBA, Zenith Bank, Access Bank, NB, Nestle, FBNH and Guaranty Trust Bank impacted positively on the ASI’s year-to-date return, which stood at 33.11%, just as market capitalisation grew by N3.06tr within the same period, representing a 33.17% rise above the year’s opening value.
Market breadth for the day remained positive with an increased number of advancers, thereby outweighing the decliners in the ratio of 31:14 on a high volume traded that was higher than previous day’s level to continue the bull transition.
Market activities for the day, in terms of volume and value, were up by 81.74% and 4.78% respectively to 317.44m shares worth N2.85bn, up from previous day’s 174.67m units valued at N2.72bn.

Transactions in the shares of Skye Bank, UBA, Transcorp, McNichols and Access Bank topped the volume chart.
At the close of trading on Thursday, Linkage Assurance topped the advancers’ table, chalking 8.70% to close at N0.75 per share on market forces, followed by Presco’s 5.00% notch at N61.95 per share on expectation of its Q3 numbers.
On the flipside, Cadbury dropped 5.00% to close at N10.26 on market forces and profit taking, followed by MRS Oil lost 4.97% to close at N28.88 on market forces/sentiments.

TODAY’S OUTLOOK
As the market opens this morning, expect volatility to persist owing to portfolio repositioning and earnings season speculation that kicked off with traders returning to play the season ahead of year-end seasonality.

One thing that is clear in the current market situation is that smart investors are accumulating and enhancing their positions in selected stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.
It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable in this recovery market.
The workshop materials on Trading and Investing for Financial Independence series are Available. Kindly call or send yes to 08032055467 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
at October 08, 2017
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https://investdataltd..com.ng/2017/10/market-update-for-october-5-2017.html

MARKET UPDATE FOR OCTOBER 4, 2017

VOLATILITY MAY PERSIST AMIDST PORTFOLIO REPOSITIONING AHEAD OF Q3 EARNINGS SEASON, YEAR-END

The nation’s stock market had a positive, even if volatile Wednesday. The day started out with a move downside, before gravitating back and forth, reaching support and holding twice between the mid-morning and midday, as profit taking ensued in the Industrial Goods and Insurance sector. There was a real strong intraday rally to a high of 35,500.23 from a low of 35,272.84 that is becoming the new month’s support level. Since the market broke out of the downtrend line it had consolidated sideways its movement in a narrow range, waiting for positive news as earnings reporting at this point is light with portfolio repositioning and speculative activities underway as the season gradually kicked off with more companies announcing their Q3 closed period (when their senior officials and directors who are shareholders of such companies are forbidden from trading in them to prevent a situation where they take advantage of price sensitive information they have by virtue of the office they hold).
It was a nonetheless positive day for banking stocks, especially the first tier banks that have capacity to post positive Q3 numbers despite the significant growth in non-performing loans in the sector, as the banks continually showing a positive earnings trend so far.

Market traded volume was low with a stronger selling pressure as revealed by the volume index for the day that stood at 0.72, while buying position was at 38% and 62% selling volume of the day’s transaction. This halted previous day’s down market as it the bourse continues the search for direction in the midst of mixed technicals.
As the government tries to further stimulate the economy by implementing the Ease of Doing Business action plan, promising to release part of the year’s capital budget very soon, even when we know the proposed amount is very small, compared to N2.3tr earmarked for infrastructural development in the 2017 budget. Also, there is the plan to move about 50% of the 2017 capital budget to 2018 as the government awaits approval of the National Assembly to fund the budget through external borrowing that would further balloon Nigeria’s external debt and the cost of servicing such on a yearly basis. This borrowing plan is also regardless of the nation’s improved crude oil output of about 2m barrel per day, at a time oil is selling above $55 at the international market, higher than the budget’s benchmark.

Meanwhile, the composite NSE All-Share index gained a marginal 52.48 basis points to close at 35,358.57 from an opening figure of 35,306.09 which represented 0.15% growth, just as market capitalisation for the day went up by N18.26bn to close at N12.18tr, from the previous session’s N12.17 trillion, representing a 0.15% appreciation in investors’ position. The upturn in the share prices of medium and high cap equities like Nestle Nigeria, Zenith Bank, Total, Stanbic IBTC, Access Bank, National Salt and Honeywell Flour impacted positively on the ASI’s year-to-date return which stood at 31.57%, just as market capitalisation grew by N2.93tr, representing a 31.72% rise above the year’s opening value.
Market breadth for the day was slightly positive as the number of advancers outpaced decliners in the ratio of 19:18 on a low volume traded that was lower than previous day’s level to reverse Tuesday bear market.
Market activities for the day, in terms of volume and value, were down by 72.46% and 53.02% respectively to 174.67m shares worth N2.72bn, up from previous day’s 634.33m units valued at N5.79bn.

Transactions in the shares of UBA, FBN Holdings, Zenith Bank, Access Bank and Guaranty Trust Bank topped the volume chart.
During Wednesday’s session, the NSE announced the cancellation of 2,080,104,954 ordinary shares or 5.73% of United Bank for Africa’s shares in issue from the Daily Official List. The cancelled shares were initially held under the bank’s Staff Share Investment Trust Scheme (SSITS) and have reduced UBA’s outstanding shares from 36,279,526,322 before the cancellation, to 34,199,421,368 units (READ).

The NSE also announced the suspension of trading in the shares of Academy Press, Nigerian German Chemical, Roads Nigeria and Thomas Wyatt, over their failure to file their quarterly and full-year financials. In doing so, the NSE it relied on “Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules).” (READ)
At the close of the day’s trading, C&I Leasing topped the advancers’ table, chalking 9.50% to close at N1.96 per share on market sentiment, followed by National Salt 4.99% notch at N12.62 per share on market forces ahead of Q3 numbers. On the flipside, MRS Oil lost 4.97% to close at N30.39 on market forces/sentiments, followed by Continental Reinsurance which shed 4.67% to close at N1.43 per unit on profit taking.

TODAY’S OUTLOOK
As the market opens this morning, expect volatility to persist owing to portfolio repositioning ahead of earnings season and end of the year-end continues.
One thing that is clear in the current market situation is that smart investors are accumulating and enhancing their positions in selected stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable
The workshop materials on Trading and Investing for Financial Independence series are Available. Kindly call or send yes to 08032055467 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/2017/10/market-update-for-october-4-2017.html

SEC Nigeria Marks World Investor Week


The Securities and Exchange Commission has announced plans to join the International Organisation of Securities Commissions (IOSCO) and other capital market regulators across the globe to celebrate the 2017 edition of the IOSCO World Investor Week, which is a first of its kind from 2nd through 8th October 2017.
The Investor Week (WIW), the commission said in a statement on Wednesday, is a week-long, global campaign for IOSCO to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas.
“IOSCO securities regulators across the globe will, among others, provide a variety of activities, including launching investor-focused communications and services, promoting contests to increase awareness of investor education initiatives, organizing workshops and conferences, and conducting local/national campaigns in their own jurisdictions,” the statement noted.
Activities to mark the week include a series of activities targeted at investors, market women, artisans, students and the general public. Specifically, it has set aside time for an outreaches to a tertiary institution and a local government headquarters in the Federal Capital Territory on Thursday and Friday, respectively.
The activities will culminate in an interface between regulators, market intermediaries and shareholder groups at a session tagged ‘Investor Clinic’ slated for Lagos on Saturday to close the 2017 edition of the Week.
The Clinic, the commission assured, promises to be interactive, rich and engaging, just as it is intended to enlighten shareholders on recent developments in the market and discuss general everyday retail investor issues.
The WIW offers a unique opportunity for IOSCO members to work in collaboration with all investor education and protection stakeholders, at both the local and international levels.

http://investdata.com.ng/2017/10/sec-nigeria-marks-world-investor-week/#more

MARKET UPDATE FOR OCTOBER 3, 2017



INDICATORS REMAIN NEGATIVE, VOLATILE, AS INVESTORS AWAIT ONSET OF Q3 EARNINGS SEASON

Trading on the Nigerian Stock Exchange (NSE), the first for the month of October, the new week and after the nation’s 57 Independence anniversary celebrations closed negative as volatility continued amidst mixed technicals.
The day’s activities opened with the composite NSE All Share index slightly in the green, running back and forth before settling at 35,262.26, after touching an intraday high of 35,475.59 as selling pressure resumed in some medium and high cap stocks around the mid-afternoon. The index however bounced back towards the close of trading, thereby reducing the sell-off, as buying positions in financial services sector stocks increased to close the sector’s index on the positive side.
Market traded volume was very high with a stronger selling pressure as revealed by the volume index for the day standing at 2.61, while buying position was at 21% and 79% selling volume of the day’s transaction.

All things considered, INVESTDATA see no compelling need yet for investors or traders to panic from the reading of Tuesday’s trading statistics, given that this is a fresh month that just opened on a negative note. The reason is not far-fetched, considering the market’s Price-to- Earnings ratio is still relatively low on the average and therefore attractive with the economic fundamentals improving and expected to positively impact most of the companies listed in one way or another, both directly and indirectly, and in the process, reflect on the market at large. There is also the factor that we would not hurry to forget- the strong liquidity in the foreign exchange segment of the Nigerian inter-bank market which has and will continue to help sustain relative stability in exchange rates. This is responsible for the Naira appreciation in the value of the Naira, even if marginally, against other foreign currencies, driven by availability of forex particularly in the investors and exporter window of the market as the Central Bank of Nigeria (CBN) continues keeping its promise to intervene by injecting more funds on a weekly basis. On Tuesday too, the apex bank injected another $195m into the market (READ).

Directors of PZ Cussons (READ) and Infinity Finance kicked off the 2017 third quarter earnings report season by making available their first and third quarter results respectively to the market on Tuesday. It would be noticed from the summary of the PZ result presented that the loss sustained reduced by a significant 92%, helped by the drop in foreign exchange loss from N4.701bn to N1.793bn, a situation that does not require a divination before it can be linked to the availability of forex at considerably stable rate occasioned by the CBN intervention programme that began in April this year, a period covered by PZ’s Q1 report under consideration.

Investors and traders should however note that as more primary market activities unfold in form of right issues in the market ahead of 2017 year end, there is a likelihood that the current volatility already being experienced in the market would be prolonged, going forward as oil price continues to rally at the same time there is a relatively stable exchange rate regime that has supported the market.
Meanwhile, at the end of Tuesday’s trading, the All Share Index shed 133.89 basis points to close at 35,306.09 from an opening figure of 35,439.98 which represented 0.38% decline, just as market capitalisation for the day was down by N45.69bn to close at N12.17tr, from the previous session’s N12.22tr, representing a 0.38% value loss in investors’ portfolios.

The downturn in the share prices of medium and highly capitalized stocks like Dangote Cement, Forte Oil, Nigerian Breweries, Ecobank Transnational Incorporated, Oando, Access Bank and Nestle impacted negatively on the ASI’s year-to-date, cutting it to 31.37%, just as market capitalisation growth stood at N2.92tr, representing 31.62% above the year’s opening value.
Market breadth for the day was negative as the number of decliners outnumbered advancers in the ratio of 22:18 on a very high volume traded that was higher than previous day’s level to halt the bull transition.

Market activities in terms of volume and value were up by 168.98% and 51.06% respectively to 634.33m shares worth N5.79bn, as against the previous day’s 235.82m units valued at N3.83bn recorded in the previous session.
Transactions in the shares of FCMB, FBN Holdings, Guaranty Trust Bank, Zenith Bank and United Capital topped the volume chart.

At the close of the day’s trading, C&I Leasing topped the advancers’ table, chalking 9.82% to close at N1.79 per share on market sentiment, followed by Learn Africa’s 6.76% notch at N0.79 per share on market forces. On the flipside, Unity Bank lost 5.00% to close at N0.57 on profit taking, followed by PZ Cussons which shed 4.98% to close at N24.23 per unit on price adjustment and weak Q1 results released during the session.

TODAY’S OUTLOOK
As the market opens this morning, expect volatility to persist owing to portfolio repositioning ahead of earnings season’s onset, just as year-end activities continue.
One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support
and resistant level to reposition or exit any position. Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.

Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable

The workshop materials on Trading and Investing for Financial Independence series are Available. Kindly call or send yes to 08032055467 or 08111811223.

https://investdataltd..com.ng/2017/10/market-update-for-october-3-2017.html

Nigeria’s Forex Market Gets Further $195m CBN Intervention

The Central Bank of Nigeria (CBN) on Tuesday, October 3, 2017, intervened in the inter-bank Foreign Exchange Market to the tune of $195m, in what it said is in continuation of its efforts to sustain FOREX liquidity in the country.
A breakdown of the figure showed that $100m was offered through the wholesale segment; the Small and Medium Enterprises (SMEs) segment received the sum of $50m; while the invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45m.
Isaac Okorafor, the CBN’s Acting Director, Corporate Communications Department, while confirming the figures, said the apex bank was pleased with the state of the Forex market, adding that the Bank will continue to intervene in order to sustain the liquidity in the market and guarantee the international value of the naira.
He reiterated the bank’s determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users.
According to him, the CBN remained determined to achieve its objective of rates convergence, hence the unrelenting injection of intervention funds into the foreign exchange market.
It will be recalled that the CBN last week intervened in the various segments of the Forex market with the sum of $698.5 million.
Meanwhile, the naira continued to maintain its stability in the FOREX market, exchanging at an average of N364/$1 in the BDC segment of the market on Tuesday, October 3, 2017.

http://investdata.com.ng/2017/10/nigerias-forex-market-gets-195m-cbn-intervention/#more

Investdata, APT Securities Hold Independence Day Free Investment Summit In Lagos

http://investdata.com.ng/2017/10/photo-news-investdata-apt-securities-hold-independence-day-free-investment-summit-lagos/#more

SEPTEMBER TRADING REVIEW AND IDENTIFYING SECTORS TO INVEST IN OCTOBER

Global economic growth outlook remains mixed and unpredictable as geopolitical risks continue to rise and fall with North Korea’s continuing missiles test despite UN imposed sanction. This has remained a threat to investments and business, irrespective of the positive economic data. The healthy growth in the second quarter, with advanced economies benefited from compassionate monetary conditions and tightening labour markets, as Inflation accelerated in the U.S. amidst hurricane related disruptions which caused gas prices to spike, while inflation in the UK came in above market expectations.
The UK’s annual GDP growth revised down in Q2 to lowest rate since 2013, while China’s business activity was hampered by tightening credit, with the Eurozone’s economic activities looking up to reflect the expansionary economy.

The recent strengthening of the US Dollar against other global currencies with tax cut plan by the Donald Trump administration may boost prices of equities and threaten commodity prices of oil in the international market is currently trading at $59.92per barrel.
Another factor is the unstable fiscal and monetary policies around the world, with stimulus gradually being withdrawn; a situation that had triggered inflation in US, UK and Germany, while other parts of the Europe zone and Japan remained relatively unchanged.
Back home, the recent positive macro-economic indices released by the National Bureau of Statistics (NBS) and Central Bank Nigeria (CBN) are indicators that support economic recovery, despite the numbers being pale green, an indications of the need for more tangible efforts to drive substantial growth in the system. Economic indicators that emerged from the September included the Q2 GDP growth of 0.55%, the 16.01% inflation rate for August from 16.05% in July, added to the fact that the nation’s foreign reserves recently hit a 13-month high of $33bn from $29.13bn, which according to the Federal Government as part of the 57 achievements of the Muhammadu Buhari-led administration to mark Nigeria’s 57th Independence Anniversary, “has surpassed the ERGP’s (Economic Growth and Recovery Plan) target of $30.56bn despite global low oil prices and production challenges. Nigeria’s external reserve is poised to rise even higher as oil price traded at $59.92 on Friday at the international market.

Purchasing Managers Index (PMI) for the month of September was up to 55.3 point from 53.6 point recorded in August that confirms the seeming economic recovery in Nigeria as manufacturing sector continuing to look up, reflecting the impact of the CBN’s intervention policy in the FX market on the real sector and the economy at large. Between April 24 and July, the CBN’s new Investors and Exporters Window (NAFEX) powered a turnaround in investor sentiments, trading around $3.8bn, about a third of which was supplied by the CBN. This will be complemented by the fact that Nigeria’s Crude oil production level improved appreciably to 2.05 million barrels per day in June 2017
The expected Q3 earnings season in the month of October is likely to impact much on the market, depending however on the strength of numbers especially if they beat market estimates, while repositioning of portfolios continue ahead of earnings season.
Also, being the first month of the last quarter of the year, expect the market to keep oscillating in October; just as fiscal policy direction (from the government) would further strengthen market fundamentals and the economic recovery.

The recent wave of correction supports low valuation in the market, despite the mixed sentiments. Many stocks remain undervalued on the strength of the intrinsic value that should guide the investing public as they seek to close the year in the green in terms of the portfolio’s worth.
Traders and investors who understand the dynamics of the market and the importance of combining fundamental and technical analysis in making investment decisions in stocks should take this opportunity of pullback to position in some sectors for short, medium and long-term gains.
Sectors that could be looked at for juicy returns this month and beyond include: the fast moving consumer goods, insurance, banking, and agribusiness, building material, oil and gas. This must however be after a careful study of the recent price pattern and fundamental data available in the market ahead of the October Q3 earnings season. This is a very important season in stock market cycle in taking final investment decisions for the year as numbers expected at that period give insight into what should be expected at the end of December financial year end.

What to expect in October and November
So far, history and research have presented the month of October to be a volatile one for the stock market. The seasonal changes and expectation should guide market players investing strategies to adopt as we journey into the new month.

They are:
• Release of quarterly earnings in October, being the end of the statutory 30-day period for submission of quarterly scorecards that end in September. The expected numbers are likely to strengthen market fundamentals if positive, due to sectoral influence given that before now the companies had posted better than expected numbers. Inflation figure for September also expected.

• The oscillating trend of equity prices as a result of repositioning of portfolios along the line of positive numbers and profit taking in the October earnings season.

• Market outlook for the new month remains mixed as more quarterly and less full year earnings reports are expected. But with the positive sentiment and strong momentum as the market expects the economy’s recovery to be strengthened if the government implements the 2017 budget faithfully and the CBN sustains its intervention in the FX market that had boosted liquidity and confidence in the economy and market and impacted business activity as revealed by recent corporate earnings.

• The relative low Price-to-Earnings ratio in the market especially in the banking sector may further attract demand for stocks, but you must invest wisely, using bids, offers and volume when taking decisions as a trader.

• Factors used in identifying quality companies are consistent earnings growth, a profit margin that is above 10 per cent, low debt, improved cash flow and good dividend payout ratio. This suggests that planning one’s financial freedom through equity investment is very possible if you are buying the right stocks for profit.

Managing risk and protecting capital at this point is very important, so you will be able to determine when to buy or sell, by watching the stocks and the market, using technical analysis, which our buy and sell signal provide for subscribers. To join text YES to 08028164085.

Meanwhile, let corporate earnings guide your decision and time to stay in that position.
To learn how to manage trading risk and avoid getting scared out of trade position, which is a common challenge for most traders and investors of today, but for the exit strategy you can start using immediately to overcome this problem, get INVESTDATA’s comprehensive stock market trading and investing home study pack where short trading strategies and how to identify quality companies to invest before the market look toward it were discuss. Independence Day Free Equity Investment Workshop materials are available also.


https://investdataltd..com.ng/2017/10/september-trading-review-and.html

INVESTDATA PRICE & EARNING TRACKING FOR THE WEEK ENDED SEPTEMBER 29, 2019

https://investdataltd..com.ng/2017/10/investdata-price-earning-tracking-for.html

SEPTEMBER MARKET ROUNDUP 2017


NSE INDEX CLOSES RED, AMIDST HOPE FOR YEAR-END POSITIONING BY SPECULATORS, INVESTORS

The month of September and third quarter of the year 2017 came to an end last Friday with the Nigerian Stock Exchange (NSE) recording a marginal decline of 0.18%, making the second consecutive month that the market is closing in red, as bullish sentiments slowed down due to profit booking, added to the delayed execution of policies that could have sustained robust economic recovery. This is not unconnected with the poor implementation of the capital component of the 2017 budget that will drive the Economic Recovery & Growth Plan, even as President Muhammadu Buhari administration, on Sunday, listed N1.2tr expenditure on capital/infrastructure projects nationwide, which it described as a milestone in the nation’s history, as one of the 57 achievements so far, just as the “effective implementation of the Treasury Single Account, and increasing government revenue by over N3tr, as well as entrenching transparency and accountability.”
The decline suffered by Nigeria’s stock market should not come as a surprise to many market players, given that the month is known for key expenses by investors who traditionally have to pay for school fees for their children and wards in August/September. This situation is worse for those with children schooling abroad, as there is pressure to sell even at a loss to meet the ever rising demands. Add this to the fact that because September is not known for submission of quarterly or full-year earnings score-cards, there is less of speculating activities in the month.
For the just concluded third quarter however and year-to-date, the market still managed to close positive, chalking 7.01% and 31.87% respectively to maintain a bullish posture that gives insight that the year 2017 is likely to end in the green as INVESTDATA projected in our Invest 2017 traders and investors workshop organized on December 3, 2016.
Notably, sectors of the market that performed at their peak on quarter and year-to-date basis mostly underperformed in September, with only the financial services sectors of insurance and banking recording marginal growth.

During the month, the composite index NSEASI shed 64.64 basis point to close at 35,439.98 from an opening figure of 35,504.62 which represented a 0.18% decline after it had touched an intra-month high of 36,175.20 and a low of 34,653.22 to remain above 35,000 psychological level, after breaking down various times during the trading sessions of the period. Market capitalisation for the month also lost N20bn to close lower at N12.22tr, from an opening value of N12.24tr, representing a 0.16% value loss.
The mixed performance recorded in September resulted from cautious trading that dominated selling position as investors took profit to meet growing needs, while positive economic data released within the month by the Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) did not significantly impact the market as these data came in with fragile growth. This was especially the case with the August inflation that only managed to decline by just 0.04 points to 16.01% from July 16.05%; the Q2 GDP figure that came in positive at 0.55%, marking the nation’s exit from recession after five consecutive quarters of contraction that began in the first quarter 2016. Also, Nigeria’s Purchasing Manager index (PMI) expanded to 55.3 points in September from 53.6 points in August.
The volatility rate for the period was high on low volume traded to reflect the cautious trading and mixed sentiment that took over the market, leading to 10 straight trading sessions of down market and 9 sessions of bull-run. Traded volume for the month was down by 41.58% to 3.99bn shares from 6.83bn shares in the preceding month.

Market breadth for the month was negative with decliners outnumbering the advancers in the ratio of 52:25 to continue a two-month bear transition with declining magnitude in loses as stock prices adjusted up slightly in the last three trading sessions of the month in an apparent market reaction to the decision of the CBN’s Monetary Policy Committee (MPC) meeting to hold all rates, which members said had become necessary to observe unfolding developments in the polity. The buying volume of total transactions for the month was 52%, while selling position was 48% to reverse the selling pressure in August, while volume index for the period was 0.63.

Topping the sectoral index movement table for the period was the NSE Premium, which chalked 3.32%, thereby outperforming the overall market All Share index that closed in the negative of 0.18%. It was followed by the NSE Insurance, which gained 1.59%, whereas the NSE Lotus and NSE Banking could only notch 0.27% and 0.11% respectively to occupy third and fourth positions.
On the other hand, the NSE Gas/Oil that had suffered losses year and quarter to date was the worst performing index for the month under review as it shed 6.05%; followed by the NSE Industrial’s 3.30% decline, reflecting profit taking by investors, many of who preferred to stand on the sidelines as they watched for government’s implementation of its infrastructural development talk. The NSE Consumers index was next, dropping 2.65% as investors cashed out profit from the sector’s recent rally due to impressive numbers from companies listed in that industry. Other sectors that decline within the period were: NSE Main Board, NSE 30, NSE Pension and NSE ASeM with 2.16%, 0.95%, 0.59% and 0.35% respectively, to reflect market activities in the stocks.

Best Performing Stocks
Small caps that had been weak, compared to the high caps in the months leading into September soared this month, dominating the list of best performing stocks, led by C & I Leasing, which gained all of 53.77% of its opening price for the period, galloping on the strength of market sentiments and its strong quarterly numbers that hit the market. Newrest ASL came next, after appreciating by 26.06%; while Guinness Nigeria rose 23.42%, a month after the close of its N40bn rights issue; just as NEM Insurance chalked 17.17%. Other gainers on the table for the month included: Cutix 13.12%; Africa Prudential 12.54%; Continental Reinsurance, 11.94%; Fidson Healthcare, 10.00%; and Unlever Nigeria, 9.03%; among others.

Best Performing Stocks in September
Securities
Sector
Open
Close

% Change
C & I Leasing
Services
1.06
1.63
53.77

Newrest ASL
Services
5.68
7.16
26.06

Guinness Nigeria
Consumer Goods
76.98
95.01
23.42

NEM Insurance
Insurance
0.99
1.16
17.17

Cutix
Industrial
2.21
2.50
13.12

Africa Prudential
Other Financial
3.11
3.50
12.54

Continental Reinsurance
Insurance
1.34
1.50
11.94

Fidson Healthcare
Healthcare
3.20
3.52
10.00

Unilever
Consumer Goods
40.00
43.61
9.03

Redstar Express
Services
4.38
4.75
8.45

BocGas
Industrial
3.50
3.78
8.00

Transcorp
Conglomerates
1.28
1.36
6.25

AXA Mansard Insurance
Insurance
1.90
2.00
5.26

Source; NSE and Investdata Research

Worst Performing Stocks

On the other hand, the worst performing stocks for the period was Neimeth, which lost 21.84%, as a result of profit taking; ahead of AG Leventis Plc’s 16.90% loss owing to its weak quarterly numbers; followed by the 16.67% drop in the price of First Aluminum; and Julius Berger, 14.24% on the back of profit taking and weak numbers.

Worst Performing Stocks in September 2017
Securities
Sector
Open
Close
% Change

Neimeth
Healthcare
0.87
0.68
-21.84

AG Leventis
Conglomerates
0.71
0.59
-16.90

First Alliums
Industrial
0.66
0.50
-16.67

Julius Berger
Construction
34.20
29.33
-14.24

Presco
Agribusiness
68.39
59.00
-13.73

Oando
Oil/Gas
6.85
5.93
-13.43

Skye Bank
Financial
0.61
0.53
-13.11

McNichols
Consumer Goods
1.35
1.20
-11.11

Lafarge Africa
Industrial
57.00
50.68
-11.09

Livestock Feeds
Agribusiness
0.94
0.84
-10.64

NB
Consumer Goods
183.60
165.00
-10.13

Vitafoam
Consumer Goodss
2.79
2.51
-10.04

UBA
Financial
9.59
8.64
--9.91

Source: NSE & Investdata Research
Chart view of August market.

NSE ASI MONTHLY TIME FRAME FOR AUGUST


From the above graph, you would notice that the NSEASI on monthly basis is side trending as revealed by the index action to form a rising channel where the market closed within the channel after trying to breakout the upper line of the channel which has become the resistant and pullback immediately to create a new entering point for discerning investor. The candlestick formation for the month supports reversal, depending on market forces as we cross over to the last quarter of 2017, for which trading kicks off on Tuesday with high hopes that speculators will return to play the market ahead of year-end activities.

https://investdataltd..com.ng/2017/10/september-market-roundup-2017.html

MARKET UPDATE FOR SEPTEMBER 27, 2017

CONTINUED VOLATILITY, AS NIGERIA’S EQUITIES MARKET SEARCHES FOR DIRECTION


The nation’s stock market continued its volatility on Wednesday, as it continues struggling to find direction in the last trading week of quarter with mixed sentiments that had been reflected in the traded volume trend since the beginning of the week, which made the period somewhat dull, thereby disappointing many market players. The seeming low volume seems an extension of the wait-and-see attitude of traders and investors in the days leading to Monday and Tuesday meeting of the of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) to see steps by the monetary and fiscal authorities to boost productivity that will drive economic growth and development, going forward.
The benchmark index on Wednesday had a snapback-recovery to halt two trading sessions of bear run.

Trading started out with big gaps to the upside, in the morning, which held secondary support, and then came on strong as more high caps record gains in value but pulled back by mid afternoon as the high caps shed some gains. This was after the composite NSE All-Share index touched an intraday high of 35,170.70 and low 34,653.22 to close above the psychological line of 35,000 at the end of the day to give back a marginal gain.
The market at this point is only looking at the seasonal changes associated with the coming final quarter of the year (October and December) with Q3 earnings season kicking off effectively at mid-October, following which speculative trading should have started by now but low sentiment has slowed down price performance. Market volume index for the day stood at 0.59 and buying position at 87% and 13% selling volume of the day’s transaction to reverse previous day’s selling pressure.
At the end of the session, the All Share Index gained 152.13 basis points to close at 35,103.40 from the 34,951.27 points opening level which represented a 0.44% growth, just as market capitalisation for the day rose by N52.44bn to close at N12.1tr, from the previous session’s N12.05tr, representing a 0.44% appreciation in investors’ portfolios after previous days of losses.

The upturn in the share prices of Dangote Cement, Zenith Bank, Transcorp, Stanbic IBTC, Nestle and Dangote Flour impacted positively on the All-Share Index’s year-to-date return to 30.62%, just as market capitalisation gain stood at N2.85tr, representing 30.85% above the year’s opening value.
Market breadth for the day turned positive as the number of advancers outnumbered decliners in the ratio of 24:22 on a very low volume traded that was lower than the previous day’s level to halt the down market.
Market activities in terms of volume and value were reversed down by 72.74% and 64.95% respectively to 136.4m shares worth N1.27bn, as against the previous day’s 500.3m, units valued at N3.62bn recorded in the previous session.
Transactions in the shares of Jaiz Bank, Meyer, FBNH, Diamond Bank and Access Bank topped the volume chart.
At the close of the day’s trading, Champion Brewery topped the advancers’ log with 8.14% gain to close at N2.39 per share on market forces, followed by Neimeth Pharmaceutical with a 4.62% notch at N0.68 per share on market sentiment and Q4 numbers expectation. On the flipside, Morison Industries lost 8.33% to close at N0.66 on market forces, followed by Uacn Property, which shed 5.00% to close at N2.85 per unit on profit taking.

TODAY’S OUTLOOK
Nigeria’s equities market continues to search for direction. Expect volatility to persist as trading opens this morning, amidst profit taking, Q3 earnings season and year-end activities.
One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organised by APT Securities & Funds Ltd/Investdata Consulting Ltd, because real independence is financial freedom.

Theme: PROFITABLE STOCK MARKET TRADING STRATEGIES FOR FINANCIAL INDEPENDENCE AND FREEDOM
Have you traded the stock market before and failed? It is a known fact that about 90% of people who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time.
You don’t have to be one of them. Therefore, when you attend this Independent Day Free Investment Education Summit this seminar and learn how to trade such that you could be one of the lucky 10%, who manage to consistently play the market profitable by themselves through our online portal from your phone and laptop anywhere in the world. Consistency is the key to equity trading and investing successfully.
At APT Securities and InvestData we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market conduction, especially when it comes to equipping them well enough to know how to protect their portfolios and profit from market correction in a recovering economy and market.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.
Attend the Independent Day Free Investment Education Summit and our team of expert and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop holds on:
DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at this the Independent Day free workshop:
1. The fundamentals of stock trading and investing
2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.
3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.
4. The psychology of trading and investing and how it will make you successful.

Registration is free, register to participant by clicking on this link: http://investdataonline.com/oct-2nd-independence-seminar/
There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.
For more enquiries about the programme, please call 08028164085, 08034053018 and 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/2017/09/market-update-for-september-27-2017.html

MARKET UPDATE FOR SEPTEMBER 26, 2017


POST-MPC: NIGERIAN BOURSE CONTINUES SEARCH FOR DIRECTION, AS INVESTORS, DIGEST ECONOMIC REALITIES


Trading activities on the Nigeria stock Exchange (NSE) on Tuesday had a mixed and volatile session as traders and investors waited anxiously for the outcome of the 115th Monetary Policy committee (MPC). It however turned out that like was widely expected, an absolute majority of the committee’s members voted to retain all rates for the seventh consecutive time. There was also a promise of flexibility in ensuring that stimulus packages that will continue to drive economic growth and sustain the ongoing recovery, are put in place in expectation that fiscal authorities hasten the faithful implementation of the 2017 budget. This, it is hoped, will support the Economic Recovery & Growth Plan (ERGP) and aid national output as PMI remains positive and at above the 50 points threshold to indicate early expansion to further confirm the nation’s exit, even if marginally from recession, with 2017 Q2 GDP growth of 0.55%.

During Tuesday’s trading, the benchmark All-Share Index started with a little gap up in the morning, making the session look pretty positive. But it failed at resistance after hitting intraday high of 35,420.53 from an opening level of 35,358.53, after which it climbed down very briskly to a low of 34,876.87 thereby breaking down the psychological line of 35,000 again. It thereafter filled the gap, and then rallied back, but could not get back to the highs. At the end of the day, a three-wave corrective sell-off brought the index down on a very high volume to close mixed on the session.
Continental Reinsurance recorded 100% sell volume as investors traded 190.51m shares, with highly capitalized stocks like Dangote cement and Nigerian Breweries suffering loss to drag the market down. Market volume index for the day stood at 1.26 and buying position at 14%, and 86% selling volume of the day’s transaction to continue previous day’s down market as selling pressure exceeds buying pressure.
Meanwhile, the composite NSE ASI shed 407.46 basis points to close at 34,951.27 from the 35,361.52 points opening level which represented a 1.15% decline, just as market capitalisation for the day caved in by N140.46bn to close at N12.05tr, from the previous session’s N12.19tr representing 1.15% value loss in investors’ portfolios.
The downturn recorded in the share price of medium and high cap stocks impacted negatively to reduce the All-Share Index’s year-to-date return to 30.05%, just as market capitalisation year-to-date gain stood at N2.22 trillion, representing 30.65% above the year’s opening value.
Market breadth for the day turn negative as the number of decliners outpaced advancers in the ratio of 19:16 on a very high volume traded that was higher than the previous day’s level to extend the two day bear market.

Market activities in terms of volume and value were up by 366.92% and 164.85% respectively with an exchange of 500.3m shares worth N3.62bn, as against the previous day’s 107.15m units valued at N1.37bn recorded in the previous session.
Transactions in the shares of Continental Reinsurance, Sterling Bank, Access Bank, AXA Mansard and Transcorp topped the volume chart.
At the close of the day’s trading, Neimeth Pharmaceutical topped the advancers’ log with a 4.84% gain to close at N0.65 per share on market forces, followed by Nascon with a 4.80% notch at N13.10 per share on market sentiment and Q3 numbers expectation. On the flipside, International Breweries lost 4.98% to close at N35.68 on profit taking, followed by McNichol’s , which shed 4.74% to close at N1.20 per unit on market forces.

https://investdataltd..com.ng/2017/09/market-update-for-september-26-2017_92.html

MARKET UPDATE FOR SEPTEMBER 25, 2017

AS VOLATILITY CONTINUES, NIGERIA’S BOURSE TRENDS SIDE-WAYS, AMIDST WAIT FOR MPC MEETING OUTCOME

The Nigeria stock market had a difficult session as it started the last week of September, Monday, red. The index gapped lower on the continued wait-and-see attitude of investors and traders for the outcome of the two-day Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting today, as medium and high cap stocks suffered price declines.
The market attempted to bounce back to resistance, but the early rally attempt was stalled and rolled over sharply, with the index really pushing back hard into midday when it attempted to reduce the loss position. The market had broken out the downtrend line but on sideways movement, awaiting positive news and end of the quarter/month rebalancing of fund managers’ trading accounts to push prices up ahead of earnings season trading by speculators.
As we have earlier said, smart money is using the ongoing correction in the market to accumulate in some stocks with great potentials to reward investors and sustained their share price, going forward. For instance, on Monday, 200,000 units and 300,000 units of Nestle Nigeria were crossed to foreign investors at N1,230 and N1,250 respectively by domestic sellers. This suggests that these people are still seeing value in the stock despite the seeming overpriced condition of the company.

Traders and investors should take the opportunity of the current lower-lows and higher-lows during this correction to reposition in value stocks with strong potential to rally.
Volume index for the day stood at 0.45 and buying position at 47%, and 53% selling volume of the day’s transaction which halted previous day’s up market shows that players were awaiting the outcome of CBN’s monetary policy meeting, despite expectations that the committee would vote to retain all monetary policy instruments. This is also not unconnected with the fact that, for now, oil continues to sell above $50 barrels per day, a situation that has impacted the nation’s reserve positively put at $33bn by the CBN. It is expected that other measures to boost confidence and attract more foreign exchange inflows and sustain the economic recovery would be put in place to support what the CBN is doing before now and what Nigerians are looking forward to see from the fiscal authorities.
Meanwhile, the composite NSE All Share Index shed 130.08 basis points to close at 35,361.52 from the 35,488.81 points opening level which represented a 0.36% decline, just as market capitalisation for the day dropped by N44.48bn to close at N12.19tr, from the previous session’s N12.2tr, representing 0.36% depreciation in investors’ portfolios.

Price depreciation in the share prices of Oando, UBA, Access Bank, Lafarge Africa, Nestle, GTBank, NB, FBNH and Zenith Bank, reduced the All-Share Index’s year-to-date return to 31.58%, just as market capitalisation year-to-date gain stood at N2.41tr, representing 31.82% above the year’s opening value.
Market breadth for the day was positive as the number of advancers outnumbered decliners in the ratio of 19:17 on a very low volume traded that was lower than the previous day’s level to halt the one day bull market.
Market activities in terms of volume and value were down by 44.25% and 62.84% respectively with an exchange of 107.15m shares worth N1.37bn, as against the previous day’s 192.2m units valued at N3.68bn recorded in the previous session.
Transactions in the shares of Meyer, FCMB, Niger Insurance, FBNH and Transcorp topped the volume chart, just as Fidson Healthcare topped the advancers’ log with a 5.00% gain to close at N3.13 per share on market forces and expected Q3 numbers, followed by Newrest ASL with a 4.99% notch at N7.16 per share on market sentiment. On the flipside, Jaiz Bank lost 4.29% to close at N0.67 on market forces, followed by Skye Bank, which shed 3.64% to close at N0.53 per unit on market forces.

TODAY’S OUTLOOK
The market continues to search for direction after the recent breakout of the downtrend line. While confirming the recovery, the market is still waiting for more positive news to leave the sideways movement, especially if the feelers from the MPC meeting are positive. Volatility in the market is expected to continue as trading opens this morning, amidst profit taking, September quarter end, Q3 earnings season and year-end activities. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that would help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP to further help to drive inflation numbers down faster than the August level to make growth and development a reality.
One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organised by APT Securities & Funds Ltd/Investdata Consulting Ltd, because real independent is financial freedom.

Theme: PROFITABLE STOCK MARKET TRADING STRATEGIES FOR FINANCIAL INDEPENDENCE AND FREEDOM
Have you traded the stock market before and failed? It is a known fact that about 90% of people who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time.
You don’t have to be one of them. Therefore, when you attend this Independent Day Free Investment Education Summit this seminar and learn how to trade such that you could be one of the lucky 10%, who manage to consistently play the market profitable by themselves through our online portal from your phone and laptop anywhere in the world. Consistency is the key to equity trading and investing successfully.

At APT Securities and InvestData we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market conduction, especially when it comes to equipping them well enough to know how to protect their portfolios and profit from market correction in a recovering economy and market.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.
Attend the Independent Day Free Investment Education Summit and our team of expert and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop holds on:
DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at this the Independent Day free workshop:
1. The fundamentals of stock trading and investing
2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.
3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.
4. The psychology of trading and investing and how it will make you successful.

Registration is free, register to participant by clicking on this link: http://investdataonline.com/oct-2nd-independence-seminar/
There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.
For more enquiries about the programme, please call 08028164085, 08034053018 and 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/2017/09/market-update-for-september-25-2017.html

Independent Day Free Investment Education Summit

What you will learn at this the Independent Day free workshop:

1. The fundamentals of stock trading and investing.

2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.

3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.

4. The psychology of trading and investing and how it will make you successful.

There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.

Registration fee is just N1500 that is refundable at the venue after the workshop.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223

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

Independent Day Free Investment Education Summit

Details
What you will learn at this the Independent Day free workshop:

1. The fundamentals of stock trading and investing.

2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.

3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.

4. The psychology of trading and investing and how it will make you successful.

There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.

Registration fee is just N1500 that is refundable at the venue after the workshop.

For more enquiries about the programme, please call 08032055467, 08179547605, and 08111811223

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

Ogunbanjo Replaces Aig-Imoukhuede As President Of NSE Council

The Nigerian Stock Exchange (NSE) ended its 56th annual general meeting on Monday, where it elected Abimbola Ogunbanjo as new President of its National Council, replacing Aigboje Aig-Imoukhuede, who completed his three-year tenure.
Founding partner of the law firm of DIKKO & MAHMOUD and current President of the Nigerian Bar Association (NBA), Abubakar Balarabe Mahmoud SAN, was also elected First Vice President; while Mrs Catherine Echeozo, former Deputy Managing Director of Guaranty Trust Bank Plc, was elected as Second Vice President at the event held in Lagos.
Aig-Imoukhuede will however remain on the National Council as an ex-officio member pursuant to The Exchange’s Article of Association, while Alhaji Aliko Dangote and six others retire.
The other retiring Council Members are: Muhammad Daggash, Finmal Financial Services Limited (represented by Dr. Umaru Kwairanga); Greenwich Trust Limited (represented by Kayode Falowo) , ICMG Securities Limited (represented by Michael Osime), Meristem Securities Limited (represented by Oluwole Abegunde) , Sigma Securities Limited (represented by Dunama Balami) and Signet Investment and Securities Limited (represented by Oladipo Aina).
They were replaced by: Chartwell Securities Limited (Represented by Oluwole Adeosun); Equity Capital Solutions Limited (represented by Kamarudeen Oladosu); Fortress Capital Limited (represented by Yomi Adeyemi); Pilot Securities Limited (represented by Seyi Osunkeye); Planet Capital Limited (represented by Chidi Agbapu); Woodland Capital Markets Plc (represented by Patrick Ajayi); Kastina State Investment & Property Development Co. Limited (represented by Mrs. Fatimah Bintah Bello–Ismail); Echeozo; and Erelu Angela Adebayo.

Ogunbanjo, Managing Partner of corporate law firm of Chris Ogunbanjo & Co (Solicitors), who currently serves as chairman of the NSE’s Demutualization Advisory Committee, joined the National Council of The Exchange in 2011 and became First Vice President in 2014.
He serves on the boards of several multinational corporations and non- profit organizations including Beta Glass PLC and the Advisory Board of the University of Buckingham Centre for Extractive Studies.
A member of the International Bar Association, Nigerian Bar Association, Institute of Petroleum and a registered Capital market consultant with the Securities and Exchange Commission, Nigeria, he is a former Country Director and Legal Adviser of the oil giant ConocoPhillips and oversaw the recent divestment of the corporation’s upstream assets in Nigeria.
Ogunbanjo graduated of Business Administration with Honours from the American College of Switzerland, Switzerland, from where he proceeded to the University of Buckingham, Buckingham where he obtained his law degree.

Commenting, Aig-Imoukhuede said: “I am delighted that our robust succession planning framework has ensured the emergence of a worthy successor in the person of Mr. Abimbola Ogunbanjo. His background as a legal practitioner and successful corporate player combined with years of meritorious service as a Council member has equipped him with the knowledge and experience required to take the Exchange to higher levels of performance and development”.
Also, Chief Executive of the NSE, Oscar N. Onyema, appreciated Aig-Imoukhuede for his immense contributions, commitment and distinction in service, including bringing “hands-on experience and business expertise to the Council which contributed to the development of the Exchange, despite the harsh economic and policy environment that characterized his tenure.
“The election of Mr. Ogunbanjo brings continuity and ensures that The Exchange will continue to deliver on its strategic objectives. NSE has already benefitted greatly from his broad experience and his contributions as the First Vice President of our Council. I look forward to working closely with Mr. Ogunbanjo in our journey to becoming Africa’s foremost securities exchange”.

Also speaking on his emergence, the new Council President expressed honour at being elected, just as “taking the reins of leadership of this foremost Exchange is made easier by the transformational groundwork laid by my predecessor. I would like to thank the outgoing Council led by Mr. Aig-Imoukhuede for their stewardship of the Exchange over the last three years.
“I have worked closely with my predecessor in pursuing our collective vision and building a world class exchange. Together with the other Council members I now look forward to the successful implementation of the transformative initiatives articulated in our 2018 – 2021 corporate strategy”.
The governance of The Exchange is vested in its Council which directs The Exchange’s business and financial affairs, strategy, structures and policies; monitors the exercise of any delegated authority; and deals with challenges and issues relating to corporate governance, corporate social responsibility and corporate ethics.

http://investdata.com.ng/2017/09/ogunbanjo-replaces-aig-imoukhuede-president-nse-council/#more

GTBank Seek Cash Repurchase Of US$400m Int’l Tender Offer Notes


Guaranty Trust Bank Plc, on Monday, September 25, 2017, informed the Nigerian Stock Exchange (NSE) of an invitation to holders of its US$400m notes due in November 2018 at 6% to tender such for purchase in exchange for cash through the deployment of “its available U.S Dollar liquidity.
This liability management exercise, the commencement and settlement dates of which are September 25 and October 5 respectively, the bank said in a statement by Erhi Obebeduo, its company secretary, allows it “to efficiently manage its liquidity by addressing debt maturing in 2018.
“The extent to which this goal can be achieved through the offer will depend on the number of Notes that will be tendered in the offer, given the voluntary nature of the offer. The Notes purchased by GTBank under the offer will (subsequently) be cancelled,” the statement added.
Ahead of this, the bank said it has retained the services of Lucid Issuer Services Limited as tender agent and Exotix Partners LLP, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc as Dealer Managers.

http://investdata.com.ng/2017/09/gtbank-moves-repurchase-us400m-intl-tender-offer/#more

MARKET UPDATE FOR WEEK ENDED SEPT 22 AND OUTLOOK FOR 25-29, 2017

EQUITY INVESTORS LOOK TO MPC OUTCOME AHEAD OF MONTH, YEAR-END PORTFOLIO REBALANCING


Trading activities on the Nigerian Stock Exchange in the past week remained highly volatile and mixed but closed higher on improved technicals that supported Friday’s breakout of the downtrend line to confirm the very short term rally that would continue this week, depending however on the outcome of the two-day meeting of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) which ends on Tuesday.
The index on a weekly time frame is still relatively weak since it is still trading below its downtrend line, but signaled a breakout on improved volume that indicates increasing buying pressure ahead of third quarter’s end and Q3 earnings season in October, which also would indicate how traders are repositioning for end of the year trading activities.
The improvement in market breadth after turning positive in the last two trading session has strengthened market technicals with relatively high volume that confirms recovery on mixed sentiments. There is noticeable increased buying pressure that shows a gradual return of speculators who are determined to play the year’s remaining earnings season, which is likely to support uptrend reversal in no distant time. This would however depend on the ability of the monetary and fiscal authorities to take actions capable of sustaining the fragile economic growth recorded in Q2, beginning with the outcome of the MPC meeting, which analysts, in any case, expected would support what the CBN had done so far to drive the recovery that brought about the positive GDP in Q2 2017.

However, month and quarter-end window dressing by fund managers may influence prices.
The volume index for the period under review was 0.72, with buying position at 100% and 0% selling volume of the total transaction as volatility continued. The composite NSE All Share Index gained 483.24 points to close at 35,488.81points on Friday, from an opening figure of 35,005.57 points, representing a 1.38% growth on a high volume of transactions. The index hit an intra-week high of 35,490.84 and low of 34,729.78 before retracing to close above the psychological line of 35,000.
Similarly, market capitalisation for the period closed higher at N12.23tr from an opening value of N12.07tr, representing a 1.37% value gained in investors’ portfolios to reduce losses suffered recently.
Top performing stocks that dominated the advancers log for the week were low caps while few highly capitalized stocks that had pulled back before now are attracting attention on the strength of their strong fundamentals and expected third quarter earnings reports.
The upturn experienced during the period is attributable to gradual speculative activities of traders, especially with the third quarter earnings season around the corner, as they reposition in medium and high cap stocks, thereby lifting the NSEASI’s year-to-date return to 32.05%, just as market capitalisation for the period increased to N2.99tr, representing a 32.31% gain from the year’s opening value.

Market breadth was however negative as the decliners outnumbering advancers in the ratio of 35:25 on a high volume of trades that reflect investors’ repositioning ahead of portfolio rebalancing ahead of Q3 season by fund managers.
The Nigerian stock market went the way of markets across the world to close higher over the past week, despite another around of panic created by sanctions imposed on North Korea over its recent missile launch by the UN, worsened by the war of words between Pyongyang and Washington. There was a strengthening of the U.S Dollar after the Feds meeting during the period left interest rate unchanged, which resulted in the breakout of oil price above $50 per barrel, amidst geopolitical security threats that seem to be a concern for investors. This is also especially as central banks around the globe are coming out with different monetary tighten measures.

Japan’s Nikkei, Germany‘s DAX, Britain’s FTSE 100 and U.S market indexes closed north, despite the Feds’ warnings of a likely increase in rates once more by year end, irrespective of low the prevailing inflation rates. The central banks also warned that it would reduce its $4.2tr balance sheet, citing low unemployment, business investment growth and economic expansion. However, inflation remains a key concern among investors and central bank officials.
In Europe, the highly watched IHS Mar-kit survey found that economic activity rose to a four month high in September, which could spur the ECB to take action on ease of QE.
In Asia, S&P Global Ratings downgraded China’s sovereign credit rating, amidst worries that credit growth continues to move too quickly, despite efforts to curb lending activities.
Back home, the composite NSE Index opened the week on a negative note, losing 0.38% which continued on the second trading session with marginal loss of 0.08%, before reversing at the midweek’s trading when it chalked 1.04%. This was however short-lived, as the indicators closed south again the following day, with a marginal loss of 0.05%. On Friday, the indicators recorded a relatively bigger gain of 0.85%, bringing total gained for the week to 1.38%, thereby halting previous week’s down market.

The All-Share Index and sectoral indices for the period also closed higher, except for the NSE Consumer Goods and NSE Oil/Gas that faced the opposite directions, losing 0.23% and 3.05% respectively, while NSE AseM was flat to close the week.
The week’s activities, measured by aggregate volume and value, were up by 22.68% and 16.20% respectively, as investors crossed 1.10bn shares worth N17.86bn, as against previous week’s 896.62m units valued at N15.37bn in the previous week.
At the end of the week’s trading, Linkage Assurance topped the advancers’ table, gaining 11.86% to close at N0.66 per share on the back of market forces, followed by Continental Reinsurance’s 9.79% notch to close at N1.57each on market forces and expectations for its Q3 numbers. The decliners’ table on the other hand was led by Nigeria Enamelware, which closed 16.65% lower at N23.23 on price adjustment for bonus of one ordinary share for every five held. Caverton followed with a 9.17% drop to close at N1.09 per share on profit taking.
During the week also, Union Bank notified the exchange of its rights issue that opened, while Avon Crowncaps voluntarily delisted from the exchange.

Market Outlook
Technically, Nigeria’s stock market is still searching for direction, despite the improved technicals last week, until a breakout of the downtrend line, which confirms recovery.
The volatility in the market is expected to continue as trading opens this week, amidst profit taking and repositioning ahead of MPC meeting decision on Tuesday, third quarter end, Q3 earnings season and year-end activities. We still hope that the Nigerian government would review its 2017 budget implementation strategy and put in place some fiscal measures that can help sustain the ongoing economic recovery to help drive down inflation numbers faster.

Investdata believes the Muhammadu Buhari administration should improve the living conditions of Nigerians by tackling the huge infrastructure deficit to enhance economic development.
One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organized by APT Securities & Funds Ltd/Investdata Consulting Ltd, because real independent is financial freedom.

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DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

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There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.

For more enquiries about the programme, please call 08028164085, 08034053018 and 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/2017/09/market-update-for-week-ended-sept-22.html

TECHNICAL POSITION OF NIGERIA STOCK EXCHANGE SECTORIAL INDEXES TRADING RANGE

This week is the last in the third quarter of 2017 and would offer a deeper insight into what should be expected from companies in different sector of the economy at year-end.
Therefore, take a look at the sectorial indexes chart below to know where to buy against the quarter end and indeed the last quarter of the year, considering market performance and economic recovery so far. Knowing that the market has gone ahead of the economy because it came out of a three-year recession before the economy due to positive sentiment that followed full-year 2016 and first half of 2017 earnings season that beat market estimates and expectations. This is in addition to the apex bank’s intervention in the foreign exchange market that attracted more inflow and liquidity into the market.

This week, we are looking at the weekly index action in major sectors of the market, given that the recently released positive economic data did not impact the market as sentiment remained mixed.
That notwithstanding, the weekly technicals appear stronger to support the recovery but is still trading below the yellow downtrend line. There was an increase in the volume and price movers in the week under review, with market volume index of 0.72 and buying position of 100%, and 0% selling volume for the week’s transaction to halt the previous week’s down market.
Activities last week show that some sectors had broken down support but with attempt to rebound, just as volume breakout was also strong, coming above or below its 20 and 50-day moving average.
From a technical perspective, market reversal is imminent in the short run; just buy to ride the trend with good understanding of resistant and support to know when to sell for profit and when to buy at low.

NSEASI WEEKLY TIME FRAME

The NSE ASI on a weekly time frame has sustained its down-trending, but signals imminent rebound on positive sentiments despite still trading below the downtrend line. The index breakout of the downtrend line on daily time frame is as a result of increased momentum from traders and investors repositioning for quarter end rally and Q3 numbers ahead.
The recent correction of the index remained strong but the trending ability of the market on weekly and daily time frame is strong with ADX above 20 for the period at 45.46 and 21.20 respectively.
Traders should watch out for a breakout of the yellow downtrend line as more speculators return to trade the quarter end and Q3 earnings season, while trading with caution ahead of the two-day Monetary Policy Committee (MPC) meeting that opens today. Watch out for the first resistance level at 35,756.80 and the second at 36,095.12 point, and any move down to 35,188.07 and 34,856.34 respectively.
Looking at technical indicators, the NSEASI closed below the upper band by 35.8%, while MACD is a day bearish, just as the RSI is reading 62.67 relatively on overbought region. Money flow index on a weekly time frame is turning up, while daily, it is looking up to indicate that funds are entering the market. The momentum indicators like RSI, CCI, MACD and SO are signaling SELL. Despite the weak market as a result of ongoing correction, the NSE’s composite index is still trading above it 20 and 50 day moving average.

NSE BANKING INDEX

As you can see, the banking index is trading above its 20 and 50-day moving average with strong positive market sentiments for the industry as the sector’s volume index of 0.73 with buying position of 96%, and 4% selling volume for the week’s transaction to halt the previous week southward move. As the sector recorded more green days than red to close the period under review higher. Despite the negative news that four Nigerian banks are operating below minimum capital required, due to high exposure and Non-Performing Loans (NPL). The sector’s trending ability on a weekly time frame is strong since ADX is above 20 at 47.08, while on daily time frame is weak with ADX below 20 at 16.92 as at Friday.
Traders should position in stages in this sector or wait for the outcome of the meeting of the Central Bank of Nigeria’s (CBN) MPC to know the health status of the nation’s banks, especially the second tier operators that is likely to send panic to the market if not handled well by the apex bank. Despite the expected return of speculators to trade the quarter end and Q3 earnings season ahead. The first resistance level is at 439.69 and the second at 445 point, any move down to 435.43 and 424.77 respectively.
Looking at technical indicators, the NSE BNK index closed below the upper band by 34.4%, while MACD is bearish. RSI is reading 66.01 relatively on overbought region. Money flow index on a weekly time frame is turning up, while daily, it is looking up to indicate that funds are entering the market. The momentum indicators like RSI, CCI and MACD are signaling SELL, while SO is saying buy

NSE CONSUMER GOODS INDEX

NSE Consumer Goods index is currently experiencing a divergence as OBV is trending while the index action is moving down to close the week lower. A breakdown of the dotted yellow lines will confirm a major pullback in the short term. The index still remain relatively strong as it is trading above the 20 to 50 day moving average as at last week Friday. The sector’s volume index of 0.61 with buying position of 57%, and 43% selling volume for the week’s transaction to continue a two-week downtrend as a result of profit booking from the industry’s recent rally due to the improving earnings recorded by the sector in Q1 and Q2 which is likely to continue in the expected third quarter results to reverse this downtrend.
Traders should watch out for support levels of equities in this sector and on this pulled backs as reversal is imminent. The first resistance level is at 956.12 and the second at 966.77 point, any move down to 934.56 and 921.22 respectively.
The NSE’s Consumer Goods index trending ability on weekly and daily time frame is strong since ADX trading above 20 at 50.88 and 28.53 respectively. Looking at technical indicators, the NSECONSGOODS closed below the upper band by 24.4%. MACD is bullish, while RSI is reading 67.20 almost at overbought region. The momentum indicators like RSI, SO and CCO are signaling sell, while MACD signaled buy.

NSE INDUSTRIAL INDEX

NSE Industrial Goods index had suffered five straight weeks of decline after forming a double top on August 11. The sector is currently trading below its 20-day moving average but above the 50 DMA as revealed on the chart. Trending ability of the industry on weekly and daily time frame are strong as ADX is above 20 at 35.40 and 27.43 respectively to support this rebound that signal buy opportunity in some of the stocks in the sector.
Its volume index of 3.74 with strong buying pressure of 100% while 0% selling volume for the week’s transaction to trigger period reversal as earlier pullback had created new entry point for traders ahead of Q3 end window dressing and October earnings season. Looking at technical indicators, the NSEINDUSTR closed below the upper band by 49.7%., while MACD is bearish for two trading days. RSI is reading 53.50 relatively on overbought region. Money flow index on a weekly time frame is turning down while on daily time frame, it is looking up to indicate that funds are entering the market. The momentum indicators like RSI, CCI, SO and MACD are signaling SELL.

NSE INSURANCE INDEX

NSE Insurance index is still trading below the downtrend line despite it rebounded last week to close higher. The weekly chart reveals the sector index is below the 20-day moving average as at the end of last week, but strength is returning in form of improving volume and with the prices of some stocks in the sector hitting 52weeks high. The sector’s volume index stood at 0.36, buying position of 97%, and 3% selling volume for the week’s transaction to halt the previous week’s southward movement.
Traders should wait for breakout of the yellow line on the sector index and volume to confirm strength of rallying before jumping into the stocks in the industry. The first resistance level is at 140.77 and the second at 143.12 point, any move down to 135.76 and 134.41 respectively.
The sector’s index trending ability on a weekly time frame is strong since ADX trading above 20 at 24.77 and weak on daily time frame as ADX is below 20 at 14.33. Looking at technical indicators, NSEINS closed below the upper band at 42.7%. MACD is bearish, while RSI is reading 56.61 relatively strong. The momentum indicators like SO, MACD and CCO are signaling sell, while RSI signaled buy.

NSE OIL/ GAS INDEX


NSE Oil/Gas Index has been trending down for the last two years, despite various attempts at rebound, but recently formed a triple bottom that supported reversal of trend, if the current pullback again becomes an attractive entry point. This suggests that stage positioning in the stocks in the sector that had suffer decline as a result of general market direction, not due to fundamental disintegration of individual stocks. The sector is currently trading below its 20 and 50-day moving average to indicate weakness.
Trending ability of the sector on a weekly time frame is weak as ADX is below 20 at 15.06, but strong on a daily time frame as trading above ADX at 44.09. Volume index for the sector stood at 0.45 with buying position at 0.32% while selling volume is at 0.68% of the week total transaction to reveal selling pressure that had kept sector in the south direction.

Traders should wait for reversal before jumping into any position in the industry. Looking at technical indicators, NSEOILGAS closed above the lower band by 0.3%. MACD has been bearish in the last five trading session, while RSI is reading 38.01 relatively at oversold region. The momentum indicators like SO, MACD and CCO are signaling sell, while RSI signaled buy.

https://investdataltd..com.ng/2017/09/technical-position-of-nigeria-stock.html

CORPORATE ACTION FOR 14TH JULY - OCTOBER 26TH, 2017

https://investdataltd..com.ng/2017/09/corporate-action-for-14th-july-october.html

ACCESS BANK Q2: BLOATING INTEREST, TAX EXPENSES, AMIDST SHRINKING TRADING, COMMISSION INCOME


Access Bank recently presented its audited report for half-year ended June 30, 2017, in keeping with its post-listing requirement. The result revealed that top and bottom line were in the north direction, beating market expectations slightly, however came some days later than that of 2016.
Investors did not however react to the numbers due to the general lull in the market, just as investors and traders had already factored in the interim dividend offered by the directors before the official release of the financials.
The bank recorded a loss of N3.65bn in the process of securities trading, compared with its N33.09bn gain in the corresponding period of 2016, despite the high yield fixed income environment. This view suggests that management prefer derivative instruments which did not support its bottom line for the period under review. The total impaired loans and advances was N45.50bn, up from N36.61bn in 2016, thereby increasing the bank’s total loan loss, thereby raising risk assets to 2.48% from 1.97% in the previous half year.

FX revaluation gain of N59.02bn for the period boosted the bank’s profitability from the preceding N11.11bn loss in 2016, just as the interbank FX rate has stabilized helped by the continued CBN intervention in the FX market that had made the investors and exporters window robust to support inflows of funds into the economy.
The real numbers released in comparison to 2016 showed growth that revealed the strength of the bank, its profitability and investment ratios.
Gross Earnings for the period grew by 41.70% to N246.38bn from N174.01bn in 2016, while profit after tax was up by 17.3% from N33.64bn in 2016 to N39.46bn, irrespective of the 29.61% drop in fees and commission income to N25.08bn from N35.63bn in 2016. Income tax expenses went up by 21.53% from N10.36bn in 2016 to N12.59bn, with other operating expenses growing by 44.67 % to N69.14bn from N47.79bn revealing that the operating environment is still harsh due to infrastructural problem that is eaten up profit, pushing many companies into the red. In all, the result turned out good, considering the several tight economic regime within which the financial institutions operated through the reported quarter.

ACCESS BANK PLC
HALF- YEAR AUDITED REPORT 2017
COY
2016
2017
(N)
(N)
% Chg

Date Released
August 19, 2016
August 23, 2017

Price as at Released Date
5.34
9.85
84.46

Gross Earnings
174,011,869,000
246,575,403,000
41.70

Profit After Tax
33,637,748,000
39,459,944,000
17.30

Shareholders' Fund
428,616,604,000
480,480,539,000
12.10

Dividend ( Interim )
0.25
0.25

ESTIMATED RATIOS
Earnings Per Share
1.16
1.36
17.24

PE Ratio
1.15
1.81
57.39

Earnings Yield (%)
21.78
13.85
-36.41

Book Value
14.82
16.61
12.08

Price To Book (P/B)
0.36
0.59
63.89

ROE (%)
7.85
8.21
4.59

Profit Margin (%)
19.33
16.00
-17.23

Year End
Dec
Dec

Source: Investdata Research, NSE and Company Report

The bank’s earnings trended up from Q1 to Q2, indicating that it could surpass full-year estimates, helped by the implementation of the five-year strategic rolling plans that would further expand operations within and outside Nigeria to boost performance that will create more value for shareholders and the banking public. It must be noted also that the bank’s investment in infrastructure to strengthen operation and product offerings supported its speed, services and security position at all time had started yielding results.

Access Bank’s price action for more than a year has formed a bullish channel with positive sentiments supporting the uptrend, despite pockets of pullbacks as a result of profit taking by traders at different intervals. The bank’s strong numbers and low valuation has continued to attract investors, but the recent double top chart pattern formation that had supported this ongoing correction as a result of profit taking has created opportunity for repositioning ahead of earnings season speculating trading. Investors with long term goals should position in stages as the stock is now trading at a discount, considering its price to book ratio of 0.59x.

Valuation
Access Bank looks very attractive at the current market value, as it currently trades with trailing Price to Earnings (P/E) ratio of 1.81x and profit margin of 16%, while the return on equity for the period stood at 8.21%, with full year projection of 20% ROE as the economy sustain it recovery if the needful is done by the fiscal authorities.
Consequently, we forecast an EPS of ₦3.00 for FY’17 and raise our Target Price (TP) to ₦14.12 per share.
Access Bank trades at FY’17 P/B: 1.2x and P/E: 3.64x, even as we equally retain our BUY position for traders and investors.

Analysts Opinion/Recommendations

The bank’s profitability and investment ratios for Q2 is good to drive price but improvement in subsequent numbers would help to sustain uptrend, after the expected pull back. The stock looks attractive to traders due its innovativeness for which it has been known over the year.
On the other hand, the management’s plan to further strengthen its presence in other Africa countries is a good move that would help to diversify its operational bases and further boost bottom line to hold price. As the bank’s Q3 Earnings Per Share (EPS) is projected to be in the region of N2.05 kobo.

ACCESS
Share Holding Structure

Stanbic Nominees Nigeria Limited
18.92%

Access Bank Staff Investment Trust Scheme
5.76%

Other Nigerian Citizens & Association.
75.32%

Other Statistics Shares Outstanding
28,927,971,631

Opening Price (2017)
5.87

Closing Price (2017) as at Sept, 15, 2017
9.90

Date Listed
18/11/1998

Year End
31st December

Source: Investdata Research, NSE and Company Report

The bank’s proactive nature and management style has influenced all aspects of its operations as reflected in the recent numbers posted in recent years. This impressive performance from the bank after taking strategic positions that saw its price in an oscillating mood, thereby creating wealth for traders that bought low and sold high on the trendy movement before the current retracement sustained as investors sold to meet need at this point which slow down the price rally for now after recording 84.5% gain as at released date of 2016 to that of 2017.
In the same direction, the bank’s shareholders fund has grown from N428.62bn in 2016 to N480.48bn. Investor confidence and strong numbers from the bank supported its price as valuation tools placed Access Bank's stock at N15, representing a 51% upside potential from the current market value of N9.90.

ACCESS BANK FOUR YEARS FINANCIAL PERFORMANCE

2013

2014

2015

2016

Date Released
April 07, 2014
March 13, 2015
March 17, 2016
March 6, 2017

Price @ Released Date
7.33
6.10
4.35
6.82

Gross Earnings
206,786,000,000
245,383,536,000
337,404,230,000
381,320,780,000

Profit After Tax
36,298,000,000
42,976,212,000
65,868,773,000
71,439,347,000

Shareholders' Fund
244,482,000,000
277.411000,000
367,801,467,000
454,494,580,000

Dividend
0.60
0.60
0.55
0.65

Source: Investdata Research, NSE and Company Report

Four-Year Financial Performance Analysis

The bank’s performance in the past four years shows gross income on year-on-year basis increased from N206.79bn in 2012 to N381.32bn in 2016, representing 84.4% rise for the period. The post-acquisition impact and aggressive leadership style, which follows the strategic plans and implementation has supported this up trending earnings so far in the last four years. Despite this improvement in gross earnings, it is obvious that profit margin for the period under consideration has been fluctuating, reflecting the high operating cost and provisions for bad loans.
Innovation and change in management style has improved service delivery, regardless of the over-regulation in the banking sector and headwinds that come with the economic recession that piled pressure on the sector’s earnings capacity in recent times.
The Dividend Yield of 6.82% is a laudable achievement, considering how many times the sector has been downgraded by international rating agencies, following the downgrade of the sovereign (Nigeria) where these banks operate. The earnings account for 32% of the market price as at the released date. Thus the period for return on investment has been volatile as shown in the table above.
The key profitability and value indicators like Net Asset has continued to rise on a yearly basis, corresponding to the estimated Book Value that grew to N15.71 from N10.68 in 2013, which is significantly above the N6.51 per share market value.

ACCESS BANK- ESTIMATED RATIOS
2013
2014
2015
2016

Earnings Per Share
1.59
1.88
2.28
2.47

PE Ratio
4.62
3.25
1.91
2.76

Earnings Yield (%)
21.64
30.79
52.34
36.21

Book Value
10.68
12.12
12.71
15.71

Price To Book
0.81
0.57
0.34
0.43

ROE (%)
15.00
15.49
17.91
15.72

Profit Margin (%)
17.55
17.53
19.52
18.73

Year End
Dec
Dec
Dec
Dec

Source: Investdata Research, NSE and Company Report
Estimated Performance Ratios
The bank’s earnings per share for the four-year period increased, reflecting its earnings power, despite the additional shares at post-acquisition which did not dilute the EPS for the period under review. The amount earned per share increased from 159 kobo in 2013 to 247 kobo in 2016. The improved earnings within the period has reduced investors waiting period due to changes in share price as recoupment period has declined from 4.62x in 2013 to 1.91x in 2015 before adjusting up in the recent report as a result of the N6.82 market value as at released date.
Price to Book Value for the period dropped to 0.34x in 2015 from 0.81x in 2013, before moving up again in 2016 to 0.43x to reveal the inherent value in Access Bank. Also, there is a high margin of safety for investors looking the way of this stock at current market price. Earnings Yield, Return on Equity and Profit Margin were up from 2013 but down from previous year’s figures. On the strength of the figures posted and consistent dividend payout for the past four years, the stock is fairly priced at N15.

https://investdataltd..com.ng/2017/09/access-bank-q2-bloating-interest-tax.html

INVESTDATA PRICE & EARNING TRACKING FOR THE WEEK ENDED SEPTEMBER 22, 2017

https://investdataltd..com.ng/2017/09/investdata-price-earning-tracking-for.html

MARKET UPDATE FOR SEPTEMBER 21, 2017




The nation’s stock market on Thursday was highly volatile to close lower on improved technical indicators that are yet to confirm direction as market sentiment remained mixed as shown by the volume index of 1.70, with buying position of 21%, and 79% selling volume of the day’s transaction to halt the previous day up market.

The index had an oscillating session with little growth as the trading opened, then a sharp rally in the midday to intraday high of 35,411.85 from the day low of 35,128.03, but then pulled back in the afternoon to finish slightly negative for the day on a very high volume with first positive market breadth in the five trading sessions.

This high volume was driven by transaction in Guaranty Trust Bank with 171.82 million shares valued at N6.70 billion to close at N38.95.
Just as we mentioned in our update yesterday, the market breadth turned positive to strengthen market technicals with high volume but yet to confirm reversal trend as sentiments are mixed ahead of MPC meeting decision next week, month end window dressing by fund managers and Q3 earnings season that usher in the last quarter of the year.

It is expected that speculators would return to the market to trade the earnings season which is likely to support uptrend reversal in no a distant time. If the monetary and fiscal authorities would take actions that would sustain this fragile economic growth recorded in Q2.

Meanwhile, the composite Index NSEASI shed 18.92 basis points to close at 35,188.97 from the 35,207.89 points opening level which represented a 0.05% decline, just as the market capitalisation for the day dropped by N6.53 billion to close at N12.13 trillion, from the previous session’s value of N12.14 trillion, representing a 0.05% depreciation in investors portfolios.

Downturn suffered in the share prices of Total Nigeria, Dangote Cement, Dangote Sugar, Oando, Dangote Flour, Access Bank, Flourmills, Okomu Oil and Zenith Bank, reduced the All-Share Index’s year-to-date return to 30.95%, just as the market capitalisation year-to-date gain stood at N2.88 trillion, representing 31.18% above the year’s opening value.

Market breadth for the day was positive as the number of advancers outnumbered decliners in the ratio of 25:20 on a very high volume traded that was higher than the previous day’s level to halt the one day bull market.
Market activities in terms of volume and value were up by 212.59% and 665.42% respectively with an exchange of 429.22 million shares worth N8.68 billion, as against the previous day’s 137.35 million units valued at N1.13 billion recorded in the previous session.


Transactions in the shares of Guaranty Trust Bank, Access Bank, JaizBank, FCMB and Zenith Bank topped the volume chart. At the close of the day’s trading session, Neimeth topped the advancers’ log with a 4.97% gain to close at N0.64 per share on market forces, followed by NEM Insurance with a 4.46% notch at N1.17 per share on Q3 earnings expectation.


On the flipside, Aiico Insurance lost 5.36% to close at N0.53 on market forces, followed by Champion Breweries, which shed 5.35% to close at N2.30 per unit on market forces.

TODAY’S OUTLOOK
Technically, market is still searching for direction, despite the improved technicals yesterday until a breakout of the downtrend line, which confirms recovery.

The volatility in the market is expected to continue as trading opens this morning, amidst profit taking and repositioning ahead of MPC decision next week, September month end, Q3 earnings season and year-end activities. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that would help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP to further help to drive inflation numbers down faster than the August level to make growth and development a reality.

Investdata believes the time has come for the Federal Government to stop telling Nigerians and foreign investors’ stories that seem different from the reality on ground. Government should work towards improving the living conditions of the citizenry with the right infrastructure to enhance economic development.
It is time to work the talk, and begin to stimulate the economy, despite the delay so far. However, investors need not panic if they take position based on strong numbers and future prospects of any stock.

One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals.

It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organised by APT Securities & Funds Ltd/Investdata Consulting Ltd, because real independent is financial freedom.

Theme: PROFITABLE STOCK MARKET TRADING STRATEGIES FOR FINANCIAL INDEPENDENCE AND FREEDOM
Have you traded the stock market before and failed? It is a known fact that about 90% of people who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time.
You don’t have to be one of them. Therefore, when you attend this Independent Day Free Investment Education Summit this seminar and learn how to trade such that you could be one of the lucky 10%, who manage to consistently play the market profitable by themselves through our online portal from your phone and laptop anywhere in the world. Consistency is the key to equity trading and investing successfully.
At APT Securities and InvestData we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market conduction, especially when it comes to equipping them well enough to know how to protect their portfolios and profit from market correction in a recovering economy and market.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.
Attend the Independent Day Free Investment Education Summit and our team of expert and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop holds on:
DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at this the Independent Day free workshop:
1. The fundamentals of stock trading and investing
2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.
3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.
4. The psychology of trading and investing and how it will make you successful.

Registration is free
There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.
For more enquiries about the programme, please call 08028164085, 08034053018 and 08111811223

Ambrose Omordion
https://investdataltd..com.ng/2017/09/market-update-for-september-21-2017.html

MARKET UPDATE FOR SEPTEMBER 20, 2017




NIGERIAN MARKET REBOUNDS, BUT REMAINS WEAK, VOLATILE AS INVESTORS WATCH FOR DIRECTION

As envisaged, the Nigeria stock market index on Wednesday closed higher, despite the mixed session and technical, halting three trading sessions of bear-run as volatility continued.
In the morning hours, the composite index had a little bit of up movement, but came down as market went into the midday and rallied back by afternoon powerfully to touch the intraday high of 35,207.89 thereby breaking out the psychological line of 35,000 again from the day low of 34,729.78 on a volume below the trading average. It was a very significant rise that took the index above the recent resistant level of 35,005.57, which was a very sharp retracement.
Just as we mentioned in our update for Wednesday, the reduction in the losing magnitude of the market will usher in rebound with volume traded gradually looking, even if it came down on Thursday. The market breadth tightened in a ratio that is almost at equilibrium to that support, from where it either crosses to positive territory or continues in negative direction. But as the market approaches the last trading week of Q3 to usher in the earnings season month and the last quarter of the year, it is expected that speculators will return to the market to trade the earnings season which is likely to reverse the current low volume being traded in the up direction to confirm this rebound and support market recovery.

The strong buying pressure on Wednesday was positive if sustain as revealed by the volume index of 0.56, with buying position of 100%, and 0% selling volume of the day’s transaction to usher in up market.
Meanwhile, the All Share Index gained 361.07 basis points to close at 35,207.89 from the 34,846.82 points opening level which represented a 1.04% growth, just as market capitalisation for the day went up by N124.47bn to close at N12.14tr, from the previous session’s value of N12.01tr, representing a 1.04% value gain to reduce the loss position in investor portfolios.
The upturn in the share prices of high cap stocks amongst which are: NB, Total Nigeria, Dangote Cement, Dangote Sugar, Oando, 7-Up, Access Bank, Guaranty Trust Bank, FBNH and Zenith Bank, which impacted positively to boost the All-Share Index’s year-to-date returns to 31.01%, just as market capitalisation year-to-date gains stood at N2.89tr, representing 31.25% above the year’s opening value.

Market breadth for the day was marginally negative as the number of decliners outpaced advancers in the ratio of 20:19 on a low volume traded that was lower than the previous day’s level to halt market losing streak.
Market activities in terms of volume and value were down by 21.36% and 59.92% respectively to 137.35m shares, as against the previous day’s 174.66m units and N1.13bn from the N2.83bn recorded in the previous session.
Transactions in the shares of Meyer, Access Bank, Transcorp, FCMB and Fidelity Bank topped the volume chart.
At the end of the day’s trading session, May & Baker topped the advancers’ table with a 4.92% gain to close at N2.77 per share on market forces and expectation of Q3, followed by Continental Reinsurance with a 4.90% notch at N1.50 per share on Q3 earnings expectation and expected wind of merger in the insurance industry.
On the flipside, NPF Micro Finance lost 5.17% to close at N1.10 on market forces, followed by National Salt, which shed 5.00% to close at N12.35 per unit on profit taking.

TODAY’S OUTLOOK
Technically, the market is still weak, despite the rebound yesterday until a breakout of the downtrend line, which confirms recovery. The volatility in the market is expected to continue as trading opens this morning, amidst profit taking and repositioning ahead of September month end, Q3 earnings season and year-end.
We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP and further help to drive inflation numbers down faster than the August level to make growth and development a reality.
Investdata believes the time has come for the Federal Government to stop telling Nigerians and Foreign investors’ stories that seem different from reality on ground and work towards improving the living conditions of the Nigerian peoples by putting the infrastructure that will enhance economic development. It is time to work the talk, and begin to stimulate the economy, despite the delay so far.

However, investors need not panic if they take position based on strong numbers and future prospects of any stock. One thing that is clear in the current market situation is that smart investors are using the ongoing correction to accumulate and enhance their positions in some stocks.
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 prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organized by Apt Securities & Funds Ltd/Investdata Consulting Ltd, because real independent is financial freedom.

Theme: PROFITABLE STOCK MARKET TRADING STRATEGIES FOR FINANCIAL INDEPENDENCE AND FREEDOM
Have you traded the stock market before and failed? It is a known fact that about 90% of people who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time.
You don’t have to be one of them.
Therefore, when you attend this Independent Day Free Investment Education Summit this seminar and learn how to trade such that you could be one of the lucky 10%, who manage to consistently play the market profitable by themselves through our online portal from your phone and laptop anywhere in the world.

Consistency is the key to equity trading and investing successfully.
At Apt securities and investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market conduction, especially when it comes to equipping them well enough to know how to protect their portfolios and profit from market correction in a recovering economy and market.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.
Attend the Independent Day Free Investment Education Summit and our team of expert and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop holds on:
DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at this the Independent Day free workshop:
1. The fundamentals of stock trading and investing
2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.
3. How to trade on your own online, using the APT eTrade platform on your phone and laptop.
4. The psychology of trading and investing and how it will make you successful.

Registration is free
There will be sales of stock trading and investing materials for further understanding at the end of the workshop, Fundamental and Technical Analysis materials, including home study packs you can play and viewed on your phone, laptop and television set, all at 20% discount for attending. You need to prepare yourself and profit from the market and the recovery economy to truly achieve your financial independence and freedom.
For more enquiries about the programme, please call 08028164085, 08034053018 and 08111811223

https://investdataltd..com.ng/2017/09/market-update-for-september-20-2017.html

MARKET UPDATE FOR SEPTEMBER 18, 2017


Nigeria’s Weak Market Struggle To Recover, As Speculators Await MPC Hints
The nation’s stock market index had an interesting but mixed session on Monday to start the week as it finally breakdown the psychological line of 35,000 to remain under the rising channel and downtrend line on a low volume traded.
The day started out with a little move up, then pulled back and consolidated until midday, before the afternoon rollover took them down sharply with the benchmark index falling to 34,873.07 after touching an intraday high of 35,105.67 and low of 34,744.96 points, then rallied back in the last hour, before taking back about 95% of the losses. Still, it was a mixed session. As the NSE Banking and NSE Insurance closed in the green while others moved in the same direction as the NSEASI.

As the market waits for the outcome of the Monetary Policy Committee (MPC) meeting today to provide direction as to what other monetary policy initiatives would help sustain the ongoing Central Bank of Nigeria (CBN) intervention in the FX market as part of efforts to stabilize the exchange rate and continue supporting the fragile economic recovery. The decision of the meeting will also pave way for readmission of Nigeria into Morgan Stanley Emerging market Index in November. Since the market is equally expecting the fiscal authorities to do the needful with actions to implement the 2017 budget to ensure it makes impact on the whole system in the few remaining months of the year, while boosting the ongoing economic recovery efforts.

With selling pressure in the market reducing as revealed by the volume index of 0.65, a buying position of 36%, and 64% selling volume of the day’s transaction to sustain the down market.
Meanwhile, the All Share Index shed 132.50 basis points to close at 34,873.07 from the 35,005.57 points opening level which represented a 0.38% decline, just as market capitalisation for the day was down by N46.48bn to close at N12.02tr, from N12.07tr in the previous session, representing a 0.38% value loss to continue the bear transition.
The downturn in the share prices of consumer goods and petroleum stocks impacted negatively to reduce the All-Share Index’s year-to-date returns to 29.76%, just as rise in market capitalisation YTD stood at N2.77tr, representing a 30.01% above the year’s opening value.
Market breadth for the day remained negative as the number of decliners outpaced advancers in the ratio of 18:14 on a low volume traded but higher than the previous day to continue the correction mood in a weak market.

Market activities in terms of volume and value were mixed with volume rising marginally by 1.62% to 162.74m shares, as against the previous day’s 160.12m units, while value was down by 47.95% to N1.54bn from the N2.96bn recorded in the previous session.
Transactions in the shares of Access Bank, Meyer, Fidelity Bank, FBNH and FCMB topped the volume chart.
At the close of the day’s trading session, Newrest ASL topped the advancers’ log with a 4.92% gain to close at N6.82 per share on market forces and earnings expectation; followed by Cadbury with a 4.66% notch at N11.00 per share on market forces.
On the flipside, Neimeth Pharmaceuticals lost 8.57% to close at N0.64 on profit taking, followed by Seplat Petroleum Development Company, which shed 5% to close at N456.76 per unit on profit taking and market sentiment.
TODAY’S OUTLOOK
Technically, the market is weak and struggling to recover on a high volatility that is likely to continue this morning as trading opens, but still waiting for positive news and return of speculators to the market to breakout the downtrend line, amidst profit booking and repositioning in hope that the positive macro-economic indices. These will drive optimism in equity investments ahead of MPC meeting outcome, Q3 earnings season and year-end. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP and August inflation rate to make growth and development a reality.
However, investors need not panic if they take position based on strong numbers and future prospects of any stock as smart investors are using this correction to accumulate and increase their positions in some stocks.
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 prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.
Meanwhile, Plan to attend the Independent Day Free Investment Education Summit jointly organized by Apt Securities & Funds Ltd/Investdata Consulting Ltd, because real independent is financial freedom.

Theme: PROFITABLE STOCK MARKET TRADING STRATEGIES FOR FINANCIAL INDEPENDENCE AND FREEDOM
Have you traded the stock market before and failed? It is a known fact that about 90% of people who trade without knowledge and understanding of the dynamics will end up losing 90% of their capital most of the time.
You don’t have to be one of them.
Therefore, when you attend this Independent Day Free Investment Education Summit this seminar and learn how to trade such that you could be one of the lucky 10%, who manage to consistently play the market profitable by themselves through our online portal from your phone and laptop anywhere in the world.

Consistency is the key to equity trading and investing successfully.
At Apt securities and investdata we have been teaching investors simple and proven strategies which when implemented makes you a successful trader and investor in any market conduction, especially when it comes to equipping them well enough to know how to protect their portfolios and profit from market correction in a recovering economy and market.
We have also, over time, focused attention on attuning the mindset of investors and traders to managing risk, while eliminating emotions when trading so as to avoid irrational investment decisions.

Attend the Independent Day Free Investment Education Summit and our team of expert and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own from your phone, laptop and/or desktop computer.

The workshop holds on:
DATE: October 2. 2017
TIME: 10am – 2.00pm
VENUE: Ostra Hall & Hotel, Behind MKO Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Lagos.

What you will learn at this the Independent Day free workshop:
1. The fundamentals of stock trading and investing
2. Trading and investing strategies that will help you manage your risk, protect your capital and profit from market correction.
3. How to trade on your own online, using the APT e-Trade platform on your phone and laptop.
4. The psychology of trading and investing and how it will make you successful.

Registration fee is just N1500 that is refundable at the venue after the workshop.

For more enquiries about the programme, please call 08032055467, 08179547605, and 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/2017/09/market-update-for-september-18-2017.html

MARKET UPDATE FOR SEPTEMBER 13, 2013


NIGERIAN BOURSE REMAINS WEAK AMIDST HIGH VOLATILITY DESPITE MARGINAL GROWTH

Nigeria’s equity market on Wednesday closed higher after three consecutive trading sessions of down market ahead of August inflation data expected to be released tomorrow by the National Bureau of Statistics (NBS). The figures are likely to be slightly down or flat, against the backdrop of the fact that the poor implementation of the 2017 budget by the Federal Government, even as cost of transportation remains high, despite the claim that petrol price has dropped, due to the deplorable conduction of Nigeria roads which continues to affect movement of agricultural produces from farms to city centres, thereby keeping food prices high in a harvest season.

The NSE All-Share index opened midweek’s trading slightly up in the morning, before pulling back at midday to hit intra-day low of 35,221.27 point, due to losses suffered by high cap stocks as the investing public continued to separate the reality and fiction. This is just as demand remained weighed down as the economy continues to recover from recession and there is nothing new to drive speculative activities in the market at a time quarterly and June year-end dividend paying stocks have unveiled and since delivered on their promise.

The market however closed marginally high by afternoon as demand for consumer goods turned positive to influence the market benchmark index positively, despite the low volume traded and weak technicals that had persisted in the recent weeks.
The double bottom chart pattern formed on a daily time frame that were mentioned in the Tuesday’s update supports reversal if sentiment remain in positive direction as market opens this morning to signal market recovery again.

Buying pressure in the market on Wednesday exceeded selling pressure as revealed by the volume index of 0.43, with a buying position of 100%, while selling volume was 0% of the day’s total transaction to support the up market.
Meanwhile, the composite Index NSEASI gained 66.82 basis points to close at 35,46434 from the 35,397.52 points opening level which represented a 0.19% growth, just as market capitalisation for the day went up by N23.03bn to close at N12.22tr, from N12.2tr in the previous session, representing a 0.19% value gain to halt the three days losing streak.
Price appreciation in consumer goods stocks like Unilever, Nestle, NB, Dangote Sugar, Cadbury and others impacted positively to boost the All-Share Index’s year-to-date returns to 31.97%, just as rise in market capitalisation YTD was up to N3.01tr, representing a 32.10% rise above the year’s opening value.

Market breadth for the day remained negative as the number of decliners outnumbered advancers in the ratio of 21:16 on a low volume of trades to reverse the bear transition.
Market activities in terms of volume and value turned down by 67.90% and 69.74% respectively to 119.9m shares, as against the previous day’s 359.35m units, valued at N1.74bn from the N5.77bn recorded in the previous session.
Transactions in the shares of Access Bank, Zenith Bank, Fidelity Bank, FBNH and Oando topped the volume chart.

At the close of the day’s trading session, Unilever Nigeria topped the advancers’ log with a 4.76% gain to close at N44 per share on market forces and improving earnings; followed by NEM Insurance with a 4.76% notch at N1.10 per share on a positive market sentiment.
On the flipside, Presco lost 4.99% to close at N60.8 on profit taking, followed by Oando that shed 4.89% to close at N6.42 per unit on profit taking.

TODAY’S OUTLOOK
Technically, the market so far is weak, on a high volatility that is likely to continue this morning as trading opens until speculators return, with traders likely to remain on the fence, amidst profit booking and repositioning in hope that the positive macro-economic indices will drive optimism in equity investments ahead of August inflation figure, Q3 earnings season and year-end. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP, to make growth and development a reality.
However, investors need not panic if they take position based on strong numbers and future prospects of any stock as smart investors are using this correction to accumulate and increase their positions in some stocks.

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 prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, be reminded once more that industry potential, market timing are very important when picking a stock, because there are factors that are sector-specific and would naturally impact positively or negatively on companies operating within such an industry, especially now that the economy is recovering. Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable


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/2017/09/market-update-for-september-13-2013.html

CORPORATE ACTION SEPTEMBER 12 - OCTOBER 16, 2017

https://investdataltd..com.ng/2017/09/corporate-action-september-12-october.html

INVESTDATA PRICE & EARNINGS TRACKING FOR THE WEEK ENDED SEPTEMBER 15,2017

https://investdataltd..com.ng/2017/09/investdata-price-earnings-tracking-for_19.html

MARKET UPDATE FOR SEPTEMBER 13, 2013

NIGERIAN BOURSE REMAINS WEAK AMIDST HIGH VOLATILITY DESPITE MARGINAL GROWTH

Nigeria’s equity market on Wednesday closed higher after three consecutive trading sessions of down market ahead of August inflation data expected to be released tomorrow by the National Bureau of Statistics (NBS). The figures are likely to be slightly down or flat, against the backdrop of the fact that the poor implementation of the 2017 budget by the Federal Government, even as cost of transportation remains high, despite the claim that petrol price has dropped, due to the deplorable conduction of Nigeria roads which continues to affect movement of agricultural produces from farms to city centres, thereby keeping food prices high in a harvest season.

The NSE All-Share index opened midweek’s trading slightly up in the morning, before pulling back at midday to hit intra-day low of 35,221.27 point, due to losses suffered by high cap stocks as the investing public continued to separate the reality and fiction. This is just as demand remained weighed down as the economy continues to recover from recession and there is nothing new to drive speculative activities in the market at a time quarterly and June year-end dividend paying stocks have unveiled and since delivered on their promise.

The market however closed marginally high by afternoon as demand for consumer goods turned positive to influence the market benchmark index positively, despite the low volume traded and weak technicals that had persisted in the recent weeks.
The double bottom chart pattern formed on a daily time frame that were mentioned in the Tuesday’s update supports reversal if sentiment remain in positive direction as market opens this morning to signal market recovery again.

Buying pressure in the market on Wednesday exceeded selling pressure as revealed by the volume index of 0.43, with a buying position of 100%, while selling volume was 0% of the day’s total transaction to support the up market.
Meanwhile, the composite Index NSEASI gained 66.82 basis points to close at 35,46434 from the 35,397.52 points opening level which represented a 0.19% growth, just as market capitalisation for the day went up by N23.03bn to close at N12.22tr, from N12.2tr in the previous session, representing a 0.19% value gain to halt the three days losing streak.
Price appreciation in consumer goods stocks like Unilever, Nestle, NB, Dangote Sugar, Cadbury and others impacted positively to boost the All-Share Index’s year-to-date returns to 31.97%, just as rise in market capitalisation YTD was up to N3.01tr, representing a 32.10% rise above the year’s opening value.

Market breadth for the day remained negative as the number of decliners outnumbered advancers in the ratio of 21:16 on a low volume of trades to reverse the bear transition.
Market activities in terms of volume and value turned down by 67.90% and 69.74% respectively to 119.9m shares, as against the previous day’s 359.35m units, valued at N1.74bn from the N5.77bn recorded in the previous session.
Transactions in the shares of Access Bank, Zenith Bank, Fidelity Bank, FBNH and Oando topped the volume chart.

At the close of the day’s trading session, Unilever Nigeria topped the advancers’ log with a 4.76% gain to close at N44 per share on market forces and improving earnings; followed by NEM Insurance with a 4.76% notch at N1.10 per share on a positive market sentiment.
On the flipside, Presco lost 4.99% to close at N60.8 on profit taking, followed by Oando that shed 4.89% to close at N6.42 per unit on profit taking.

TODAY’S OUTLOOK
Technically, the market so far is weak, on a high volatility that is likely to continue this morning as trading opens until speculators return, with traders likely to remain on the fence, amidst profit booking and repositioning in hope that the positive macro-economic indices will drive optimism in equity investments ahead of August inflation figure, Q3 earnings season and year-end. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP, to make growth and development a reality.
However, investors need not panic if they take position based on strong numbers and future prospects of any stock as smart investors are using this correction to accumulate and increase their positions in some stocks.

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 prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, be reminded once more that industry potential, market timing are very important when picking a stock, because there are factors that are sector-specific and would naturally impact positively or negatively on companies operating within such an industry, especially now that the economy is recovering. Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable

The workshop video is available and it can be viewed on your phone, laptop and television set.

https://investdataltd..com.ng/2017/09/market-update-for-september-13-2013.htm
Thursday, 14 September 2017

MARKET UPDATE FOR SEPTEMBER 13, 2013

NIGERIAN BOURSE REMAINS WEAK AMIDST HIGH VOLATILITY DESPITE MARGINAL GROWTH

Nigeria’s equity market on Wednesday closed higher after three consecutive trading sessions of down market ahead of August inflation data expected to be released tomorrow by the National Bureau of Statistics (NBS). The figures are likely to be slightly down or flat, against the backdrop of the fact that the poor implementation of the 2017 budget by the Federal Government, even as cost of transportation remains high, despite the claim that petrol price has dropped, due to the deplorable conduction of Nigeria roads which continues to affect movement of agricultural produces from farms to city centres, thereby keeping food prices high in a harvest season.

The NSE All-Share index opened midweek’s trading slightly up in the morning, before pulling back at midday to hit intra-day low of 35,221.27 point, due to losses suffered by high cap stocks as the investing public continued to separate the reality and fiction. This is just as demand remained weighed down as the economy continues to recover from recession and there is nothing new to drive speculative activities in the market at a time quarterly and June year-end dividend paying stocks have unveiled and since delivered on their promise.

The market however closed marginally high by afternoon as demand for consumer goods turned positive to influence the market benchmark index positively, despite the low volume traded and weak technicals that had persisted in the recent weeks.
The double bottom chart pattern formed on a daily time frame that were mentioned in the Tuesday’s update supports reversal if sentiment remain in positive direction as market opens this morning to signal market recovery again.

Buying pressure in the market on Wednesday exceeded selling pressure as revealed by the volume index of 0.43, with a buying position of 100%, while selling volume was 0% of the day’s total transaction to support the up market.
Meanwhile, the composite Index NSEASI gained 66.82 basis points to close at 35,46434 from the 35,397.52 points opening level which represented a 0.19% growth, just as market capitalisation for the day went up by N23.03bn to close at N12.22tr, from N12.2tr in the previous session, representing a 0.19% value gain to halt the three days losing streak.
Price appreciation in consumer goods stocks like Unilever, Nestle, NB, Dangote Sugar, Cadbury and others impacted positively to boost the All-Share Index’s year-to-date returns to 31.97%, just as rise in market capitalisation YTD was up to N3.01tr, representing a 32.10% rise above the year’s opening value.

Market breadth for the day remained negative as the number of decliners outnumbered advancers in the ratio of 21:16 on a low volume of trades to reverse the bear transition.
Market activities in terms of volume and value turned down by 67.90% and 69.74% respectively to 119.9m shares, as against the previous day’s 359.35m units, valued at N1.74bn from the N5.77bn recorded in the previous session.
Transactions in the shares of Access Bank, Zenith Bank, Fidelity Bank, FBNH and Oando topped the volume chart.

At the close of the day’s trading session, Unilever Nigeria topped the advancers’ log with a 4.76% gain to close at N44 per share on market forces and improving earnings; followed by NEM Insurance with a 4.76% notch at N1.10 per share on a positive market sentiment.
On the flipside, Presco lost 4.99% to close at N60.8 on profit taking, followed by Oando that shed 4.89% to close at N6.42 per unit on profit taking.

TODAY’S OUTLOOK
Technically, the market so far is weak, on a high volatility that is likely to continue this morning as trading opens until speculators return, with traders likely to remain on the fence, amidst profit booking and repositioning in hope that the positive macro-economic indices will drive optimism in equity investments ahead of August inflation figure, Q3 earnings season and year-end. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP, to make growth and development a reality.
However, investors need not panic if they take position based on strong numbers and future prospects of any stock as smart investors are using this correction to accumulate and increase their positions in some stocks.

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 prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

https://investdataltd..com.ng/2017/09/market-update-for-september-13-2013.html

MARKET UPDATE FOR SEPTEMBER 12, 2017

SELLING PRESSURE PERSISTS ON NIGERIAN BOURSE, AS INVESTORS POSITION IN GTBANK, NB

Trading on the Nigerian Stock Exchange (NSE) on Tuesday closed lower; extending a three-day bearish consolidation as the index broke down its rising channel to touch the recent strong support level at 35,397.52 and in the process formed a double bottom that supports reversal if sentiment turns positive as market opens this morning. The non-implementation of 2017 budget before now by the government and the style of disbursing funds is poor after such a long time of waiting which has slowed the economic recovery. This largely accounts for the strident doubts Nigerians have continued to express over the recent Q2 GDP data released by the National Bureau of Statistics (NBS) that Nigeria’s economy was out of recession, at 0.55% even as it noted that the growth recorded was yet fragile.

Also, Nigerian pollster- NOIPOLLS published the outcome of a survey report on Tuesday showing that 75% of manufacturers lamented the unholy combination of disincentives such as the high foreign exchange rate amidst the disparity, bad roads, and poor access to credit and weak demand. These, they say continue to affect their operations negatively, a situation blamed on government’s failure to implement its budget in line with its being the highest spender in any economy, especially while funding infrastructural development, thereby driving growth. With just three months to the end this fiscal year, there seems no clear policy direction that would support the growth recorded in the second quarter GDP. This is a source of concern for investors at a time like this, especially with the continued decline in the exchange rate, which would have been worse, but for the ongoing intervention of the Central Bank of Nigeria (CBN).

Also, for some time now, the market has remained volatile, amidst the persisting and even high selling pressure as investors continue cashing out to meet needs associated with this (tuition fees) season as schools reopen for the new session both globally. Nonetheless, smart investors are taking this opportunity to buy ahead of Q3 earnings season and year-end.
Despite the ongoing correction in the market, foreign investors crossed a million shares of Nigerian Breweries at N181 and N183; and 28m units of Guaranty Trust Bank at N37.80 each.
Selling pressure however continued as revealed by the volume index of 1.29, with a buying position of 11% while selling volume was 89% of the day’s total transaction to support the down market.
Meanwhile, the All Share Index shed 267.42 basis points to close at 35,397.52 from the 35,664.94 points opening level which represented a 0.75% decline, just as market capitalisation for the day fell by a further N92.17bn to close at N12.2tr, from N12.29tr in the previous session, representing a 0.75% value loss to continue the three day down market.

The downturn was driven by losses suffered by high cap stocks during the day’s trading that impacted negatively to further reduce the All-Share Index’s year-to-date returns to 31.71%, just as rise in market capitalization YTD fell to N3tr, representing a 31.94% rise above the year’s opening value.
Market breadth for the day remained negative as the number of decliners outpaced advancers in the ratio of 28:18 on a high volume of trades to sustain bear transition.
Market activities in terms of volume and value were up by 225.44% and 165.39% respectively to 359.35m shares, as against the previous day’s 114.77m units, valued at N5.77bn from the N2.17bn recorded in the previous session.

Transaction in the shares of Diamond Bank, Guaranty Trust Bank, Zenith Bank, FBNH and Meyer topped the volume chart.
At the close of Tuesday’s trading session, International brewery topped the advancers’ log with a 6.83% gain to close at N38.00 per share on market forces; followed by NEM Insurance with a 5% notch at N1.05 per share on a positive market sentiment.
On the flipside, Aiico lost 6.78% to close at N0.55 on market forces and profit taking, followed by Flourmills that shed 5% to close at N27.55 per unit on profit taking.

TODAY’S OUTLOOK
Technically, the market so far is weak, on a high volatility that is likely to continue this morning as trading opens until speculators return, with traders likely to remain on the fence, amidst profit booking and repositioning in hope that the positive macro-economic indices will drive optimism in equity investments ahead of Q3 earnings season and year-end. We expect the Nigerian government to review its 2017 budget implementation strategy and put in place some fiscal measures that will help the monetary authorities sustain the ongoing economic recovery as shown by the positive but fragile GDP, to make growth and development a reality.
However, investors need not panic if they take position based on strong numbers and future prospects of any stock as smart investors are using this correction to accumulate and increase their positions in some stocks.

Again, we advise that investors allow numbers to guide their decisions while re-positioning for the rest of the year’s trading activities, especially now that prices of stocks are looking down amidst improving economic and market fundamentals. It is time to use your technical tools to take decision by knowing the support and resistant level to reposition or exit any position.

Meanwhile, be reminded once more that industry potential, market timing are very important when picking a stock, because there are factors that are sector-specific and would naturally impact positively or negatively on companies operating within such an industry, especially now that the economy is recovering. Market is in phases know it in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this oscillating market or pullbacks sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
Get your home study pack today and ride with the current recovery on Nigeria’s stock market and economy. By investing and trading knowledgeable

https://investdataltd..com.ng/2017/09/market-update-for-september-12-2017.html

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