₦airaland Forum

Investdata Weekly Sentiment Report as of 6 September 2020

NSEASI buy 96% sell 4% volume index 0.94 MFI 65.65
Abc buy � volume index 1.18 MFI 51.89
Access buy 45% sell 55% volume index 1.55 MFI 52.04
Afrprud buy 97% sell 3% MFI 58.66
Aiico buy 60% sell 40% volume index 0.82 MFI 51.08
Bua buy � volume index 1.60 MFI 44.72
Cap buy � volume index 3.86 MFI 37.32
Caverton buy 0% MFI 5.96
Chams buy � MFI 36.33
Corner buy � volume index 2.30 MFI 73.04
Custodian buy 0% volume index 1.07 MFI 32.67
Dangcem buy 0% MFI 63.73
Eterna buy � volume index 0.80 MFI 16.88
Eti buy 71% sell 29% volume index 1.43 MFI 24.52
Fbnh buy 50% sell 50% MFI 23.91
Fcmb buy � volume index 1.00 MFI 62.94
Fidelity buy 92% sell 8% volume index 1.12 MFI 52.44
Fmn buy � MFI 27.47
Glaxo buy 0% MFI 32.81
GT buy 77% sell 23% MFI 61.20
Honyflour buy � volume index 1.18 MFI 57.14
Jaiz buy 57% sell 43% volume index 1.22 MFI 35.06
Japaul buy 50% sell 50% MFI 57.69
Lasaco buy 29% sell 71% volume index 7.90 MFI 48.72
Lawunion buy � MFI 27.43
Learn buy 0% MFI 48.34
Linkass buy � MFI 20.66
Lvstk buy 67% sell 33% volume index 1.02 MFI 51.70
Mansard buy 94% sell 6% volume index 1.47 MFI 58.32
M&B buy � volume index 1.18 MFI 9.18
Mben buy 50% sell 50% MFI 59.14
Mtnn buy � MFI 38.96
Nahco buy 0% MFI 39.14
Nascon buy � MFI 56.53
Neimeth buy 7% sell 93% volume index 1.43 MFI 74.56
Npf buy � MFI 25.73
Oando buy 0% MFI 26.80
Pz buy 0% MFI 41.44
Red buy � volume index 0.72 MFI 51.18
Regalins buy � volume index 2.48 MFI 54.52
Royalex buy � volume index 6.30 MFI 64.67
Seplat buy � volume index 2.64 MFI 40.32
Stanbic buy � volume index 2.20 MFI 78.16
Sterling buy 29% sell 71% volume index 0.91 MFI 20.58
Transcorp buy � volume index 2.38 MFI 30.46
Uacp buy � volume index 2.34 MFI 62.81
Uacn buy � volume index 4.17 MFI 24.19
Uba buy 67% sell 33% volume index 0.71 MFI 30.61
Ubn buy 33% sell 67% volume index 1.36 MFI 15.96
Ucap buy � MFI 68.87
Uniondac buy � volume index 5.35 MFI 59.18
Unity buy 40% sell 60% volume index 1.70 MFI 69.24
Upl buy 26% sell 74% volume index 1.36 MFI 85.06
Vitafoam buy � volume index 1.45 MFI 49.85
Wapco buy 60% sell 40% MFI 48.48
Wapic buy 33% sell 67% MFI 39.95
Wema buy 83% sell 17% volume index 3.16 MFI 56.77
Zenith buy 94% sell 6% volume index 0.80 MFI 52.45

https://investdataltd..com/2020/09/investdata-weekly-sentiment-report-as.html

PROPERTY FOR SALE

1.3 Acres' at Plot 2 Animasahun crescent Jenbewon Sabo Mokola Ibadan.
Asking price #200M negotiable with C.O. ownership

For more enquiries call
Olalere Estate Agent Group Nig

08033680858, 08072594190, 08134688925, 08161610705

PROPERTY FOR SALE

1.3 Acres' at Plot 2 Animasahun crescent Jenbewon Sabo Mokola Ibadan.
Asking price #200M negotiable with C.O. ownership

For more enquiries call
Olalere Estate Agent Group

08033680858, 08072594190, 08134688925, 08161610705

Profit Taking, Portfolio Realignments Ahead, As Investors React To UBA’s Interim Div Cut

Market Update for September 1

Tuesday trading session on the Nigerian Stock Exchange (NSE), the first for September, maintained a positive outlook, to start the final month of Q3 higher, thereby extending its bull transition for the third consecutive day on improved gaining momentum and huge traded volume that is driven by buying position in UACN Property Development Company Plc.

The positive sentiment and demand for highly capitalized stocks during the session helped the benchmark index to close higher, regardless of the fact that dividend paying banks on Monday informed investors of further delay in the release of their half-year earnings owing to delays by the Central Bank of Nigeria (CBN).

That notwithstanding, United Bank for Africa, on Tuesday night, became the first of the pack to publish its half-year numbers showing mixed performance, as top-line rose from N294.03bn in 2019 to N301.11bn. Profit however declined to N44.43bn, from N56.74bn in 2019, resulting in a 15% cut in interim dividend to 17 kobo, from the previous 20 kobo.

The interim dividend cut is indicative of what to expect from its peers, both at half and full-year, even as the recent decision by the CBN to crash interest rate on savings accounts to 1.25%, from about 3.6%, is expected to boost their performances and reduce cost of borrowing from the banking public.

Tuesday’s trading opened slightly on the upside in the morning, and was sustain throughout the session amid repositioning in banking and industrial Goods stocks, which pushed the NSE index to an intraday high of 25,417.61 basis points, from its low of 25,327.13bps. Thereafter, the market closed higher above it opening figure at 25,413.76bps.

Market technicals for the day were positive and strong, as volume traded was higher than the previous session in the midst of breadth that favoured the bulls on a strong buying pressure, as revealed by Investdata’s Sentiment Report showing 96% ‘buy’ volume and 4% sell position. Total transaction volume index stood at 0.58points, just as the impetus behind the day’s performance remained relatively strong, with Money Flow Index reading 67.70points, from the previous day’s 68.45points, an indication that funds exited some stocks, despite closing up.

Index and Market Caps

The All Share index at the end of Tuesday’s trading, gained 86.63bps, closing at 25,413.76bps, having opened at 25,327.13bps, representing 0.34% rise, just as market capitalization rose by N45.2bn to close at N13.26tr, after opening at N13.21tr, also representing a 0.34% appreciation in value.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally considering their current market prices.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market recovery ahead of Q3 earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

Tuesday upturn was due to buying interests in low, medium and high cap stocks, which impacted positively on the index’s reducing Year-To-Date loss to 5.32%, just as it lifted market capitalization YTD gain to N354.61bn, or 2.32% above the year’s opening value.

Mixed Sector Indices

Performance indexes across sectors were mixed, except for the NSE Industrial Goods that closed 0.12% lower, while the NSE Banking index gained 1.07%, followed by NSE Consumer goods and Insurance which were up by 0.88% and 0.80% respectively, while NSE Oil/Gas was flat.

Market breadth was positive as advancers outnumbered decliners in the ratio of 27:9, while investors traded 1.07bn shares worth N2.1bn, driven by trades in UACN Property, Access Bank, Guaranty Trust Bank, Fidelity Bank and Lasaco Assurance.

The best performing stocks during the session were Livestock Feeds and Eterna as they gained 10% and 9.47% respectively to close at N0.66 and N2.10 per share on market forces and low price attraction. On the flip side, Wapic Insurance and UBN lost 5.71% and 5.66% respectively, closing at N0.33 and N5.10 respectively purely on profit taking.

Market Outlook

We expect the current trend to continue on profit taking and portfolio adjustment as the market react to the 17 kobo interim dividend from UBA, and ahead of dividend expectation from Stanbic IBTC, GTB, Zenith Bank and Access Bank. Recall that the banks have kept the market above its 50-day moving average on a daily time frame. The mixed intraday movement is likely to persist as the month of September progresses in the midst of window dressing, profit booking and investors repositioning their portfolios ahead of Q3 numbers. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation, negative Q2 GDP of 6.1% and unstable economic outlook for 2020 as government and its economic managers are going front and back with mismatch polices and action.

Also, investors and traders are positioning in anticipation of interim dividend paying companies earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.

We see investors focusing on portfolio adjustment and rebalancing by targeting companies with strong potentials to grow their dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

Meanwhile, the home study packs on Strategies and How to invest profitably in this Changing Market Dynamics/ Recession, Mastering Earnings Season For Profitable Investing and Trading in any market situation/ cycles are available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08032055467, 08111811223 now.

INVESTDATA INVESTORS SUMMIT 2020: BEYOND THE UNCERTAIN TIMES

Theme- Life Beyond COVID: Investment Opportunities in Various Assets Classes

Sub-Topics

Life Beyond the Pandemic: Personal Financial Planning, Investment and Trading Strategies in a Low Yield Environment (AlhajiGarbaKurfi, MD/CEO, APT Securities & Funds Ltd)
How to Buy and Sell Stocks Profitably in Recession, Recovery and Boom (Mr Abdul-Rasheed Momoh, Head, Capital Market Trw Stockbrokers Ltd)
Economic Recovery Scenarios, What’s the Fate of Equities and Other Assets Classes (MrOluwasegunAkinwale, Lead Analyst, Nova Merchant Bank)
The Paradox of Declining Interest Rate and Rising Inflation: Confusion or New Realities for Investors (Mr. AbiolaRasaq, CSCS)
The New Thinking in Fixed Income Market: Today and Tomorrow (Mr. KayodeTinuoye, Portfolio Manager, United Capital Asset Management)
Outlook for Alternative Asset Classes: Where are the ETFs, Commodities, REITS and Real Estate Opportunities (MrTaiwo Yusuf Head, Wealth Management, Meristem)
Portfolio Restructuring and Rebalancing for Positive Returns Ahead of Market Rebound (Engr. Mike Ekwueme X-Front
The Power of Earnings Quality, Value and Dividends in Equity Investment (Mr. Ambrose Omordion CRO Investdata Consulting Ltd)
The Summit will provide answers to these Seven question among others

Where exactly are the opportunities in the equity market, fixed income and others?
Which sectors or markets provide the post COVID-19 investment opportunities?
How investors and traders can take advantage of the low interest regime to build profitable portfolios
What are the prevailing market moves and who are the dominant players?
What are Smart Money and Retail investors doing?
Where should investors look to enter the market or exit?
Is it the same every day, season and year?
Date: September 26, 2020

VENUE: ZOOM

For more details, call 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/profit-taking-portfolio-realignments-ahead-as-investors-react-to-ubas-interim-div-cut/

Investdata Daily Sentiment Report as of 2 September 2020

NSEASI buy 96% sell 4% MFI 67.70
Access buy � volume index 1.67 MFI 49.21
Eterna buy � volume index 1.15 MFI 100.00
Eti buy 0% MFI 19.40
Fbnh buy � MFI 29.58
Fcmb buy � volume index 1.76 MFI 82.28
Fidelity buy � volume index 1.38 MFI 23.31
GT buy 40% sell 60% MFI 76.72
Japaul buy � MFI 30.08
Lvstk buy � volume index 1.18 MFI 44.69
M&B buy � volume index 3.56 MFI 32.39
Sterling buy � MFI 37.35
Transcorp buy � MFI 11.94
Uacp buy � volume index 1.19 MFI 52.27
Uacn buy � MFI 87.18
Uba buy � MFI 43.13
Ucap buy 25% sell 75% MFI 40.05
Wapco buy � MFI 36.83
Wema buy � MFI 24.84
Zenith buy � MFI 49.89

https://investdataltd..com/2020/09/investdata-daily-sentiment-report-as-of.html

Investdata Daily Sentiment Report as of 1 September 2020

NSEASI buy 84% volume index 1.36 MFI 68.45
Abc buy � volume index 5.10 MFI 0.00
Access buy 0% volume index 1.40 MFI 38.51
Bua buy � volume index 4.64 MFI 66.05
Cap buy � volume index 4.74 MFI 28.51
Chams buy � volume index 1.15 MFI 78.49
Fbnh buy 0% volume index 1.06 MFI 24.87
Fcmb buy � volume index 1.82 MFI 87.50
Fidelity buy 0% volume index 2.18 MFI 26.22
GT buy 50% sell 50% MFI 81.40
Honyflour buy � volume index 1.05 MFI 44.75
Jaiz buy 0% volume index 2.51 MFI 36.25
Lasaco buy � volume index 1.72 MFI 76.71
Nahco buy 0% volume index 1.31 MFI 51.13
Nascon buy � MFI 46.24
Red buy 0% volume index 6.30 MFI 47.69
Sterling buy � MFI 26.11
Transcorp buy 50% sell 50% volume index 0.88 MFI 12.28
Uacn buy 67% sell 33% volume index 6.76 MFI 87.04
Uba buy 0% volume index 1.96 MFI 39.80
Ubn buy � volume index 4.24 MFI 0.00
Ucap buy 17% sell 83% volume index 1.28 MFI 40.96
Upl buy 26% sell 74% volume index 3.45 MFI 89.92
Wapco buy � volume index 1.46 MFI 31.68
Zenith buy 40% sell 60% volume index 1.36 MFI 45.95

https://akanudofia..com/2020/09/investdata-daily-sentiment-report-as-of.html

Corporate Actions On NGSE As Of Friday, August 28, 2020

https://investdata.com.ng/corporate-actions-on-ngse-as-of-friday-august-28-2020/

PROFIT POINT 27 AUGUST 2020

Hello Investors and Traders,

Here is this week's video on Profit point. Please click on link below to view.

In addition, don't forget to subscribe to my channel so that you can be among the first to get updates of subsequent videos.


https://www.youtube.com/watch?v=5PT7hEmc1eE

Investdata Weekly Sentiment Report as of 29 August 2020

NSEASI buy 88% sell 12% volume index 0.80 MFI 65.62
Abc buy 0% volume index 0.85 MFI 56.30
Access buy 60% sell 40% volume index 0.98 MFI 49.72
Afrprud buy 0% MFI 50.00
Aiico buy 50% sell 50% MFI 52.02
Bua buy � MFI 39.65
Cadbury buy 0% MFI 32.60
Cap buy � volume index 0.75 MFI 23.22
Caverton buy � MFI 5.28
Chams buy 50% sell 50% volume index 1.31 MFI 36.24
Chiplc buy 0% MFI 47.03
Cileasing buy 0% MFI 24.75
Corner buy 0% volume index 1.78 MFI 68.27
Custodian buy 0% volume index 1.86 MFI 34.72
Cutix buy 0% MFI 67.18
Dangcem buy 0% MFI 61.90
Eti buy 0% volume index 1.38 MFI 26.14
Fbnh buy 33% sell 67% MFI 34.22
Fcmb buy � MFI 60.73
Fidelity buy 50% sell 50% volume index 0.85 MFI 53.33
Fidson buy 0% MFI 70.21
Fmn buy 43% sell 57% volume index 0.82 MFI 25.92
GT buy � MFI 62.97
Honyflour buy 50% sell 50% volume index 1.15 MFI 55.82
Jaiz buy 17% sell 83% MFI 42.70
Japaul buy 50% sell 50% MFI 57.69
Jberger buy � MFI 37.60
Lasaco buy 0% volume index 1.64 MFI 88.22
Lawunion buy � MFI 27.90
Learn buy 0% MFI 49.19
Lvstk buy 0% volume index 1.01 MFI 51.04
Mansard buy � volume index 0.97 MFI 58.47
M&B buy 90% sell 10% volume index 1.43 MFI 21.60
Nahco buy 0% volume index 0.78 MFI 44.27
Nascon buy � volume index 0.75 MFI 56.94
Neimeth buy 7% sell 93% MFI 73.78
Nem buy � MFI 21.63
Npf buy 67% sell 33% volume index 2.31 MFI 20.61
Oando buy � MFI 33.76
Presco buy 0% volume index 6.65 MFI 70.90
Prestige buy 80% sell 20% volume index 3.55 MFI 50.97
Pz buy � volume index 1.25 MFI 44.07
Red buy 19% sell 81% MFI 63.61
Regalins buy 0% MFI 45.84
Royalex buy � volume index 8.82 MFI 50.37
Stanbic buy � MFI 71.91
Sterling buy � MFI 16.49
Transcorp buy 67% sell 33% volume index 3.89 MFI 18.15
Uacn buy 86% sell 14% volume index 6.32 MFI 5.36
Uba buy 17% sell 83% volume index 0.85 MFI 38.96
Ucap buy 60% sell 40% volume index 0.86 MFI 70.46
Unilever buy � MFI 91.41
Unity buy 50% sell 50% MFI 66.98
Upl buy � volume index 6.21 MFI 83.60
Vitafoam buy 91% sell 9% volume index 1.41 MFI 49.25
Wapco buy 20% sell 80% MFI 54.95
Wapic buy � MFI 42.09
Wema buy 0% volume index 2.35 MFI 57.96
Zenith buy 25% sell 75% MFI 51.44

https://investdataltd..com/2020/08/investdata-weekly-sentiment-report-as.html

Winning Strategies For Surviving The Current Market Downturn


If you are investing in the Nigerian equity market to create/participate in wealth redistribution, you must ignore the downward movements and redirect your attention to sectors, industries, and companies you need to study.

I call such companies defensive and growth entities, with strong potential for future growth, regardless of the economic slowdown and the new normal occasioned by the outbreak of the Coronavirus (COVID-19) pandemic and the resultant lockdown to check the spread, a situation that dealt severe blows on economies across the globe.

Such stocks are most likely the highly capitalized or the least-talked about companies in the market due to either their prices, dividend payout policies, or by virtue of the sub-sectors where they are listed. But they have prospects due to their bouquet of products and services, shareholding structure, market segments, and market share.

Many investors are being tossed up and down by this oscillatory trend, forcing them to exit positions, amidst panic, following which they suffered losses because of ambiguous investment goals.

On the strength of the quarterly and audited earnings so far published, many small companies are showing promises and even outperforming their big peers.

However, as investors, a close study of the growth rate of these companies and their earnings is very important, because sustainability is always a major factor to consider.

It is better to look the way of companies with average growth rate in profit of between 20 and 50% over a period of five years.

In the past 30 years, research has shown that fundamentally sound companies have rewarded shareholders twice more than the stock market in general.

Therefore, as an investor in these strong companies with good dividend payout policy, for every N15,000 you earned in dividend in the equity market, you would have made another N13,000 by way of cash and bonus issues.

Throughout this period, these companies would have offered shareholders a steady and rising stream of revenue and a return that, as I have earlier stated, was more than two times what the markets offered on the average. This calls for a clear and focus investment objective on the part of investors.

Look at the table below for payout ratio and dividend yields

2019
Company EPS Dividend Payout Ratio Current Price Div. Yield
Current Initial % CHG Current Initial % CHG
Afriprud 0.84 0.98 -14.29% 0.70 0.50 40.00% 83.33% 4.50 15.56%
Cap 2.49 2.90 -14.14% 0 2.90 -100.00% 0.00 16.15 0.00%
Cutix 0.22 0.27 -18.52% 0.125 0.125 0.00% 56.82% 1.90 6.58%
Dangcem 11.79 22.83 -48.36% 16.00 16.00 0.00% 135.71% 135.00 11.85%
Dangsugar 1.87 1.85 1.08% 1.10 1.10 0.00% 58.82% 12.50 8.80%
Glaxosmith 0.77 0.52 48.08% 0.55 0.50 10.00% 71.43% 5.10 10.78%
Lasaco 0.04 0.10 -60.00% 0.05 0.05 0.00% 125.00% 0.33 15.15%
Learn Africa N/A 0.21 N/A N/A 0.15 N/A N/A 1.10 13.64%
Mobil 24.64 25.87 -4.75% 8.25 8.25 0.00% 33.48% 175.00 4.71%
Redstarex 0.90 0.79 13.92% N/A 0.43 N/A N/A 3.75 11.47%
Ucap 0.83 0.72 15.28% 0.50 0.30 66.67% 60.24% 3.07 16.29%
Vitafoam 1.82 0.57 219.30% 0.42 0.25 68.00% 23.08% 5.45 7.71%
Wapco 7.15 -1.05 780.95% 1.00 0 100.00% 13.99% 11.50 8.70%
We see investors focusing on portfolio adjustmentss and rebalancing, by targeting companies with strong potentials to grow dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

Ambrose Omordionm

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
amberose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/winning-strategies-for-surviving-the-current-market-downturn/

BUY AND SELL SIGNAL

Hello Investors,

The, buy & sell signal for this week have been posted on the membership site for you. Pls, click on the long link for this week's download.
I have added a further twist to it. This includes.

1. Low Priced Stocks to Watch
2. Stocks to lead recovery
3. Defensive Stocks
4. Dividend Stocks with Strong Yields and Fundamentals
5. Stocks to Benefit from Corona Virus-Induced Economic downturn and government Intervention

However, you need to login to the membership site before you can have access to it.

Kindly click on the below link now to login with your username and password

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

However, if you have not joined the buying and selling signal membership, kindly indicate your interest so that one of our team members will call you immediately on how to get started immediately

To Your Success

Investdata Consulting.


P.S. You need to act fast. You know time to wait for no one.

Mixed Session May Subsist On Window Dressing, Portfolio Realignments

Market Update for August 24

Equity prices on the Nigerian Stock Exchange (NSE) on Monday closed slightly higher, extending the seemingly bullish trend for the fifth consecutive session, even as it remained weak and mixed, with the composite All-Share index forming a double top that supports profit-taking and pullback, depending on market forces.

Although, the recent rally has not reflected on many stocks, the few that recorded gains have equally formed the same double and multiple tops chart pattern with the NSEASI, suggesting a breakout or decline is in the offing.

The earnings reporting season which has supported the market in its bull transition is gradually coming to end with the expectation of half-year scorecards from the first-tier banks any moment from now. These banks would likely declare interim dividends, and this possibility has been factored into the prices before now, meaning that the probability of the stocks rallying when the numbers finally hit the market is slim. Reason: Traders will be taking profit, a situation that may lead to market decline, hence the need for extreme care in our taking positions, especially short-term players.

Technically, the market is currently at a short term overbought region as technical indicators are mixed on a daily and weekly time frame, suggesting that a correction is underway with double top chart patterns on both time frames and flat breadth. This is because it trades above the 20 and 50-Day Moving Averages on a daily chart, while Money Flow Index read 73.84 points, an indication that funds are entering the market.

Nonetheless, there was a sluggish uptrend, low liquidity and 2020Q2 GDP contraction by 6.1% as released during Monday’s trading session by Nigeria’s National Bureau of Statistics (NBS).

Such huge economic contraction, the first since the last recession in 2016 was a clear reflection of the impact of the Coronavirus outbreak leading to the nationwide economic lockdown, which was a terrible combo with the subsisting low crude oil prices at the time. Given the seeming uptrend in oil prices at the moment, expected to result in increased foreign exchange earnings by the government and other bouquet of interventions, effects of this negative position may be mitigated to a great extent in Q3. The looming recession may not be as intense or even crystallize, despite the prevailing negative macroeconomic indices.

Meanwhile, Monday’s trading session started slightly on the downside in the morning and rebounded between mid-morning and midday, before oscillating for the rest of the session on profit taking and positioning in manufacturing stocks. Within the period, the benchmark index rallied to intraday high of 25,229.12basis points, from its low of 25,136.49bps, after which the market closed marginally higher at 25, 229.12bps on a very high traded volume.

Market technicals on Monday were positive but mixed, even as volume traded was higher than that of previous session on a flat breadth, and high buying pressure as revealed by Investdata’s Sentiment Report showing 100% ‘buy’ position. Total transaction volume index stood at 1.19points, just as momentum behind the day’s performance remained strong, with Money Flow Index reading 73.84points, from the previous day’s 73.04points, an indication that funds entered the market.

Index and Market Caps

At the end of the day’s trading, the NSEASI gained 7.25bps, over the 25,221.87bps it opened, representing a 0.03% up, just as market capitalization inched N3.78bn up at N13.16tr, also representing a 0.03% value gain.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally considering their current market prices.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market recovery ahead of Q3 earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

Monday’s session recorded an upturn due to value appreciation by Guaranty Trust Bank, Zenith Bank, Unilever, Guinness Nigeria, PZ Cussons, International Breweries and University Press. This impacted mildly on the NSE, as Year-To-Date loss reduced to 6.01%, while market capitalization YTD gain stood at N203bn, or 1.57% above the year’s opening value.

Mixed Sector Indices

The sectorial performance indexes were largely bullish, except for the NSE Industrial Goods and Banking that closed 0.10% and 0.01% lower respectively, while the NSE Insurance index led the advancers table after gaining 0.82%, followed by NSE Consumer goods with 0.70% higher, while NSE Oil/Gas was flat.

Market breadth was at par, with the number of advancers equal to decliners at 15:15, while activities in terms of volume and value were up by 58.4% and 34.6% with investors trading 251.19m shares worth N2.36bn, from the previous day’s 158.62m units valued at N1.75bn. Volume was boosted by trades inTranscorp, Zenith Bank, Guaranty Trust Bank, FBNH and Presco.

University Press and Unity Bank were the best performing stocks, gaining 9.68% and 9.62% respectively to close at N1.36 and N0.57per share on full-year earnings expectation and market forces respectively. On the flip side, Transcorp and Royal Exchange Assurance lost 8.20% and 7.69% respectively, closing at N0.56 and N0.24 respectively on profit taking and market forces.

Market Outlook

We expect the current trend to continue on profit taking and buying interests ahead of the interim dividends from Stanbic IBTC, GTB, Zenith Bank, Access Bank and UBA that have kept the market above the 50-day moving average on a daily time frame. The mixed intraday movement is likely to persist as the month of August gradually winds down in the midst of window dressing, profit booking and investors repositioning their portfolios ahead of Q3 numbers. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation, negative Q2 GDP of 6.1% and unstable economic outlook for 2020 as government and its economic managers are going front and back with mismatch polices and action.

Also, investors and traders are positioning in anticipation of interim dividend paying companies earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.

We see investors focusing on portfolio adjustment and rebalancing by targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

Ambrose Omordionm

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
amberose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/mixed-session-may-subsist-on-window-dressing-portfolio-realignments/

Update: Why Foreign Core Investors Are Raising Stakes In Nigerian Arms, By Expert

Veteran shareholder activist and co-founder of the Nigerian (now Noble) Shareholders Solidarity Association (NSSA), the premier shareholders’ group in the country, Alhaji Gbadebo Olatokunbo, on Tuesday insisted that the decision of foreign core investors of companies in the country has nothing to do with a vote of confidence in the county or its economy.

Reacting to the opening paragraph of the story by investdata.com.ng, titled Heineken B.V Raises Stake In NB, Acquires 7.241m Shares, which detailed how Heineken BV and other insiders of Nigerian Breweries Plc, including its chairman, Chief Kolawole Jamodu, have gradually raised their stakes, Olatokunbo said it may also have nothing to do with buying out minority shareholders after all.

In a telephone conversation, he noted that “what Heineken B.V is doing, is what Unilever, Nestle, and Commantoros of Flour Mills, among others are doing.”

The question to ask, he stressed, “is why?”

Continuing, the activist explained, “now these major shareholders got their dividends for 2019 financial year, and because of the foreign exchange problem in the country, owing to the fact that the Central Bank of Nigeria (CBN) stopped the sale of forex since March, the core investors have been unable to repatriate their dividends from the country.

“They can’t put it in the bank to wait for US Dollars when interest rate is near zero and inflation is 12.83%, asides the fact that as corporate, they can’t go into black market to buy currency at N480/$.

“So, the most prudent thing to do with that money is reason for their resort to this stock buy-back, moreso if they see the current valuations as attractive, given the depressed market.

“That is what is happening,” he stressed.

Checks by Investdata News confirm this trend.

For the period, therefore, Heineken B.V earned N6.06bn from the total N16.073bn distributed as total dividend for the year ended December 31, 2019, at N2.01 per share. The company had earlier distributed N6bn as interim dividend, meaning that of the N10.073bn in final dividend, the core investor received N3.803bn as its share that needed to be repatriated.


Unilever Overseas Holdings, the core investor in Unilever Nigeria purchased 17,023,490 shares of the company at N12 on August 10. It was followed by 67,094,382 shares of the conglomerate at N12.5 per share on August 14, 2020, thereby further increasing its stake in the Nigerian arm. Bringing total purchased in both days to 84,117,872 units.


Also, at the end of 2019, Unilever Overseas Holdings B.V Holland held 57.05% of the company’s shares outstanding; followed by Unilever Overseas Holdings BV with 15.27%; and Stanbic Nominees Nigeria Ltd (Cumulative holdings), 7.59%. This means Unilever Overseas Holdings holds 72.32% and is further taking advantage of the low prices.


On August 20, 2020, Nestle SA purchased 636,384 units of Nestle Nigeria at N1,174.67 each from the NSE, thereby increasing its stake in its local subsidiary from 524,559,457 units or 66.18% of the paid-up capital as at 31 March 2020.

Recall that the directors of Nestle Nigeria recommended a dividend per share of N45, representing an estimated N36.614bn of the N50.333bn distributed as dividend.


But the most consistent core investor yet in the purchase of its investee-company shares so far remains Excelsior Shipping Company Limited, which as of March 31, 2020, held 62.95% of the paid up share capital of Flour Mills of Nigeria, according to the register of members. In the one year between March 31, 2019 and the corresponding period of 2020, Excelsior Shipping increased its shares by 324,848,893 units or 14.39%. But between May 22 and July 9, the core investor, represented on the board by John George Comantaros, has raised its stake in 60 year-old Flour Mills by a further 7,047,769 shares at an average price of N21.00 each.

Olatokunbo challenged directors of these foreign companies to assure Nigerians that they do not have sinister motives for gradually, but steadily buying out Nigerian shareholders, only to voluntarily delist their companies as many others have done before them.


The list, he lamented, includes Coca-Cola franchisee- Nigerian Bottling Company Plc (which delisted in 2011); Seven-Up Bottling Company, its major competitor March 5, 2018); Avon Crown Caps and Containers Plc (September 18, 2017); and NewRest ASL Nigeria Plc (May 13, 2019).

https://investdata.com.ng/update-why-foreign-core-investors-are-raising-stakes-in-nigerian-arms-by-expert/#more

Interim Div Expectations, Oil Price Sustain NGSE Uptrend, Amid Portfolio Realignments

Market Update for August 25

Again, the seeming bull trend on the Nigerian Stock Exchange (NSE) continued, with increased gaining momentum on Tuesday, defying the impact of the recently published 2020Q2 showing a 6.1% GDP contraction of 6.1%, resulting from the telling impacts of the Coronavirus pandemic and the oil price plunge.

Buying interest in building and construction stocks among investors helped the composite NSE All Share index to close higher, extending the bull-run for the sixth successive trading session on increased buying pressure and volume traded.

We note that the stock market and economy are moving in opposite directions since the outbreak of COVID-19 in March that pushed the market to its 11-year low on panic selloffs before the rebound in April, as foreign investors repositioned their portfolios on low price attractions.

The 2019 full-year corporate earnings and payout supported the bull transition before the ongoing half-year earnings reporting season, with companies posting better-than-expected numbers to sustain the positive sentiments despite profit booking at intervals.

The rallying crude oil prices at $45 per barrel, and interim dividend expectation have kept the market in the uptrend, even when technical indicators and chart patterns are revealing double top formation and short-term overbought region that signal pullback and price correction.

Although Nigeria’s GDP recorded its first contraction since 2017, the possibility of the economy sliding into another recession again is slim, against the backdrop of factors such as the ongoing easing of the lockdown and reopening of the economy, oil price recovery, the bouquet of intervention packages by the fiscal and monetary authorities targeted at critical sectors.

The expected economic recovery may support the market in 2021, so investors should have good entry strategies and plan their exit strategy for every market cycle amidst the ongoing economic reset across the globe.

Tuesday’s trading opened on the upside before pulling back in the mid-morning and rebounding at midday, before oscillating for the rest of the session on position taking in industrial goods and insurance stocks. This pushed the NSE index to intraday high of 25,291.78basis points, from its low of 25,201.79bps after which the market closed higher at 25,291.78bps on a negative breadth.

Market technicals for the session were positive and mixed, with higher volume traded than that of previous session with breadth favoring the bears, as well as positive sentiments as revealed by Investdata’s Sentiment Report showing 100% ‘buy’ volume. Total transaction volume index stood at 1.17points, just as the momentum behind the day’s performance remained strong, with Money Flow Index reading 72.79points, from the previous day’s 73.84points, an indication that funds left some stocks despite the up market.

Index and Market Caps

The All Share index at the end of Tuesday trading gained 62.61bps, closing at 25,291.78bps, after opening of 25,221.87bps, representing 0.25% growth, just as market capitalization inched by N32.67bn N13.19tr, after opening at N13.16tr, also representing a 0.25% value gain.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally considering their current market prices.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market recovery ahead of Q3 earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

The day’s upturn was due to price appreciation by BUA Cement, Zenith Bank, UBA, Lafarge Africa, Flour Mill, Julius Berger, Fidelity Bank and International Breweries. This impacted positively on the index’s as Year-To-Date loss as it dropped to 5.78%, while market capitalization YTD gain stood at N235.67bn, or 1.73% above the year’s opening value.

Mixed Sector Indices

Performance indexes across sectors were largely bearish, except for the NSE Insurance and Industrial Goods that closed 1.62% and 1.10% higher respectively, while the NSE Banking index lost 0.22%, followed by NSE Consumer goods and NSE Oil/Gas with 0.07% and 0.04% lower respectively.

Market breadth was negative as decliners outnumbered advancers in the ratio of 20:15, while transactions in terms of volume and value were mixed, even as traded volume was slightly up by 0.06% after investors exchanged 251.34m shares compared to the previous day’s 251.19m units. Transaction value fell by 50.6% to N1.17bn from N2.36bn on Monday. Volume was boosted by trades in Transcorp, UBA, Wema Bank, Zenith Bank and Sterling Bank.

NEM Insurance and Julius Berger were the best performing stocks, gaining 9.63% and 3.03% respectively to close at N2.05 and N17.00 per share on market forces and low price attraction respectively. On the flip side, Beta Glass and May & Baker lost 9.99% and 9.90% respectively, closing at N55.40 and N2.73 respectively on profit taking.

Market Outlook

We expect the current trend to continue on profit taking and buying interests ahead of the interim dividends from Stanbic IBTC, GTB, Zenith Bank, Access Bank and UBA, that have kept the market above the 50-day moving average on a daily time frame. The mixed intraday movement is likely to persist as the month of August gradually winds down in the midst of window dressing, profit booking and investors repositioning their portfolios ahead of Q3 numbers. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation, negative Q2 GDP of 6.1% and unstable economic outlook for 2020 as government and its economic managers are going front and back with mismatch polices and action.

Also, investors and traders are positioning in anticipation of interim dividend paying companies earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.

We see investors focusing on portfolio adjustment and rebalancing by targeting companies with strong potentials to grow their dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

Ambrose Omordionm

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

https://investdata.com.ng/interim-div-expectations-oil-price-sustain-ngse-uptrend-amid-portfolio-realignments/

Emefiele Laments Non-Repatriation Of FX Proceeds, Meets Multinationals’ CEOs


Worried by the scarcity of foreign exchange in the country and the telling efforts on the value of the Naira among others, the Central Bank of Nigeria (CBN), on Tuesday directed all banks under its supervision to submit the names, addresses and Bank Verification Numbers (BVN) of exporters who have failed to repatriate their exports proceeds, for further action.

The directive issued by the CBN Governor, Godwin Emefiele, during the Bi-monthly virtual meeting of the Bankers’ Committee, comes barely 24 hours after the Bank announced the abolition of third-party “Form M” payment.

This followed the adoption of the strategy to discourage over-invoicing, allegedly used by some businesses to fleece the country of foreign exchange. Such companies the CBN noted, are in the habit of opening “Forms M” and routing the payment through a buying company, agent, or other third parties.

The statement signed by the CBN’s Director of Trade and Exchange, Dr. Ozoemena Nnaji, had further said the directive was aimed at ensuring prudent use of Nigeria’s foreign exchange resources while eliminating incidences of over-invoicing, transfer pricing, double handling charges and avoidable costs that are ultimately passed to the average Nigerian consumer.

A number of punitive options, it is believed, are open to the CBN, including barring defaulting exporters from the foreign exchange market and other banking services.

Recall that the CBN, in the past, had warned exporters conducting export activity against diverting foreign exchange from the export proceeds, instead of repatriating same home.

The CBN, in collaboration with the Bankers’ Committee (comprising chief executive of banks, and CBN management, among others) at Tuesday’s meeting threatened heavy sanctions against exporters who failed to repatriate forex proceeds from their international business.

The CBN recalled that its Foreign Exchange Manual provides that all exporters should repatriate export proceeds back to the country to support the local currency and boost the economy.

Meanwhile, Emefiele plans to meet Chief Executives of multinational companies in Nigeria, in line with his campaign tagged ‘Produce, Add Value and Export’ (PAVE), especially for the agricultural produce.

Top on the agenda, as announced at the end of Tuesday’s meeting is how to revamp Nigeria’s export market, with the apex bank expressing willingness to fashion deliberate policies that would boost investment and job creation.

The meeting is expected to come up with a roadmap on how best to revitalize the export sector in order to earn foreign exchange for the country, as well as generate jobs for millions of Nigerians.

While decrying the situation where many Nigerian produce of export quality were waiting to be tapped, Emefiele said the CBN, in collaboration with the Federal Ministry of Industry, Trade and Investment, would ensure the facilitation of a reboot of the Nigerian export market.

Alluding to President Muhammadu Buhari’s charge for Nigerians to produce what they eat and eat what they produce, the CBN Governor reiterated that the country had no choice but to diversify its economic base away from heavy reliance on crude oil.

https://investdata.com.ng/cbn-goes-tough-on-exporters-over-non-repatriation-of-fx-proceeds/

Mixed Session May Subsist On Window Dressing, Portfolio Realignments

Market Update for August 24

Equity prices on the Nigerian Stock Exchange (NSE) on Monday closed slightly higher, extending the seemingly bullish trend for the fifth consecutive session, even as it remained weak and mixed, with the composite All-Share index forming a double top that supports profit-taking and pullback, depending on market forces.

Although, the recent rally has not reflected on many stocks, the few that recorded gains have equally formed the same double and multiple tops chart pattern with the NSEASI, suggesting a breakout or decline is in the offing.

The earnings reporting season which has supported the market in its bull transition is gradually coming to end with the expectation of half-year scorecards from the first-tier banks any moment from now. These banks would likely declare interim dividends, and this possibility has been factored into the prices before now, meaning that the probability of the stocks rallying when the numbers finally hit the market is slim. Reason: Traders will be taking profit, a situation that may lead to market decline, hence the need for extreme care in our taking positions, especially short-term players.

Technically, the market is currently at a short term overbought region as technical indicators are mixed on a daily and weekly time frame, suggesting that a correction is underway with double top chart patterns on both time frames and flat breadth. This is because it trades above the 20 and 50-Day Moving Averages on a daily chart, while Money Flow Index read 73.84 points, an indication that funds are entering the market.

Nonetheless, there was a sluggish uptrend, low liquidity and 2020Q2 GDP contraction by 6.1% as released during Monday’s trading session by Nigeria’s National Bureau of Statistics (NBS).

Such huge economic contraction, the first since the last recession in 2016 was a clear reflection of the impact of the Coronavirus outbreak leading to the nationwide economic lockdown, which was a terrible combo with the subsisting low crude oil prices at the time. Given the seeming uptrend in oil prices at the moment, expected to result in increased foreign exchange earnings by the government and other bouquet of interventions, effects of this negative position may be mitigated to a great extent in Q3. The looming recession may not be as intense or even crystallize, despite the prevailing negative macroeconomic indices.

Meanwhile, Monday’s trading session started slightly on the downside in the morning and rebounded between mid-morning and midday, before oscillating for the rest of the session on profit taking and positioning in manufacturing stocks. Within the period, the benchmark index rallied to intraday high of 25,229.12basis points, from its low of 25,136.49bps, after which the market closed marginally higher at 25, 229.12bps on a very high traded volume.

Market technicals on Monday were positive but mixed, even as volume traded was higher than that of previous session on a flat breadth, and high buying pressure as revealed by Investdata’s Sentiment Report showing 100% ‘buy’ position. Total transaction volume index stood at 1.19points, just as momentum behind the day’s performance remained strong, with Money Flow Index reading 73.84points, from the previous day’s 73.04points, an indication that funds entered the market.

Index and Market Caps

At the end of the day’s trading, the NSEASI gained 7.25bps, over the 25,221.87bps it opened, representing a 0.03% up, just as market capitalization inched N3.78bn up at N13.16tr, also representing a 0.03% value gain.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials to rally considering their current market prices.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market recovery ahead of Q3 earnings reporting season portfolio reshuffling and repositioning as we await an economic reform policy to stimulate and re-track the economy again.

Monday’s session recorded an upturn due to value appreciation by Guaranty Trust Bank, Zenith Bank, Unilever, Guinness Nigeria, PZ Cussons, International Breweries and University Press. This impacted mildly on the NSE, as Year-To-Date loss reduced to 6.01%, while market capitalization YTD gain stood at N203bn, or 1.57% above the year’s opening value.

Mixed Sector Indices

The sectorial performance indexes were largely bullish, except for the NSE Industrial Goods and Banking that closed 0.10% and 0.01% lower respectively, while the NSE Insurance index led the advancers table after gaining 0.82%, followed by NSE Consumer goods with 0.70% higher, while NSE Oil/Gas was flat.

Market breadth was at par, with the number of advancers equal to decliners at 15:15, while activities in terms of volume and value were up by 58.4% and 34.6% with investors trading 251.19m shares worth N2.36bn, from the previous day’s 158.62m units valued at N1.75bn. Volume was boosted by trades inTranscorp, Zenith Bank, Guaranty Trust Bank, FBNH and Presco.

University Press and Unity Bank were the best performing stocks, gaining 9.68% and 9.62% respectively to close at N1.36 and N0.57per share on full-year earnings expectation and market forces respectively. On the flip side, Transcorp and Royal Exchange Assurance lost 8.20% and 7.69% respectively, closing at N0.56 and N0.24 respectively on profit taking and market forces.

Market Outlook

We expect the current trend to continue on profit taking and buying interests ahead of the interim dividends from Stanbic IBTC, GTB, Zenith Bank, Access Bank and UBA that have kept the market above the 50-day moving average on a daily time frame. The mixed intraday movement is likely to persist as the month of August gradually winds down in the midst of window dressing, profit booking and investors repositioning their portfolios ahead of Q3 numbers. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation, negative Q2 GDP of 6.1% and unstable economic outlook for 2020 as government and its economic managers are going front and back with mismatch polices and action.

Also, investors and traders are positioning in anticipation of interim dividend paying companies earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.

We see investors focusing on portfolio adjustment and rebalancing by targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

Ambrose Omordionm

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
amberose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/mixed-session-may-subsist-on-window-dressing-portfolio-realignments/

Investdata Daily Sentiment Report as of 25 August 2020

NSEASI buy � volume index 1.19 MFI 73.85
Access buy � MFI 66.93
Corner buy � volume index 2.43 MFI 95.46
Eti buy � volume index 1.93 MFI 23.27
Fbnh buy 50% sell 50% MFI 32.43
Fcmb buy � MFI 48.88
Fidelity buy 0% MFI 78.63
GT buy 92% sell 8% volume index 0.77 MFI 86.50
Honyflour buy 0% volume index 2.82 MFI 32.61
Japaul buy � MFI 33.09
Lasaco buy 50% sell 50% volume index 1.85 MFI 82.30
Neimeth buy 0% volume index 0.90 MFI 66.25
Npf buy 0% volume index 1.48 MFI 72.97
Presco buy 0% volume index 8.41 MFI 68.43
Pz buy � volume index 3.38 MFI 48.88
Sterling buy 0% MFI 40.61
Transcorp buy 20% sell 80% volume index 5.08 MFI 22.88
Uba buy 33% sell 67% MFI 68.19
Ucap buy 25% sell 75% volume index 1.30 MFI 54.65
Unilever buy � MFI 24.90
Unity buy � volume index 0.78 MFI 51.90
Upl buy � volume index 15.00 MFI 84.34
Wapco buy 0% MFI 25.17
Wapic buy 0% MFI 60.57
Zenith buy 33% sell 67% volume index 2.61 MFI 47.87

https://investdataltd..com/2020/08/investdata-daily-sentiment-report-as-of_25.html

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Diversification, As Investors Eye Strong Potentials, Interim Div Bank Earnings

Market Update for the Week Ended August 21 and Outlook for August 24-28

The Nigerian Stock Exchange (NSE) witnessed a weak and mixed bull-run, closing slightly higher last week on a low traded volume, amid caution by investors and investors to avoid being trapped, especially as the corporate earnings reporting season gradually to an end and all eyes are set on the score-cards of interim dividend paying banks results.

Despite the seeming bull transition during the week, profit taking activities hit some sectors and companies as players reduced their exposure or positions ahead of the financials from banks, and increased buying interest in manufacturing stocks which had suffered losses. This was based on their low price attractions and expected impact of the intervention packages by the fiscal and monetary authorities in critical economic sectors to mitigate the effect of the novel Coronavirus outbreak.

So far, the half-year numbers released have really lessened the worst fear among investors, besides giving insights as to what should be expected at the end of Q3 and the year.

The numbers have also supported the ongoing sector rotation and portfolio rebalancing, given that some sectors and companies have shown resilience and potentials to beat market expectation in the midst of challenging economic situation and downturn.

The policy mismatch and lack of coordination among government agencies, is reflecting in the high cost of living and unemployment as revealed by inflation rate at 12.82% in July and the 55.7% combined rate of unemployed and underemployed Nigerians. This has rubbed tar on the government’s well-mouthed plan to lift millions of citizens out of poverty, which has been worsened by the COVID-19 pandemic and the government’s latest hike in the continued hike in the pump price of premium motor spirit.

As if these were not bad enough, there was also the recent Naira devaluation, while unfriendly policies have slowed down foreign exchange inflow, while triggering outflow which has resulted in the current liquidity squeeze in the financial market and the economy in general.

In all of these, investors should prepare and take advantage of the prevailing situation to invest wisely and create more wealth by learning how to earn more through training sessions, seek right information, and have investment goals with good entering and exit strategies in any market cycle. Making money is one thing, keeping it is entirely different, at a time of persistent oscillation in trends. We note that the ongoing pandemic has created opportunities for discerning investors to take advantage of by buying right and selling right, just as cash is king.

Movement Of NSEASI

The market last week was mixed but up, slowing down the previous week’s gaining momentum as the composite NSE All-Share Index recorded one session of loss and four of marginal gains, due to mixed sentiments and cautious trading, after opening southward at 0.22%. This was halted on Tuesday when the index recorded a marginal gain of 0.02% amidst mixed sentiment, on increased buying interests in banking and consumer goods stocks. This was sustained at midweek, with the benchmark index gaining 0.14%; followed by 0.13% and 0.07% on Thursday and Friday respectively. This followed improved demand for consumer goods, healthcare and banking sector stocks, bringing the week’s cumulative gain to 0.07%, which was lower than the previous week 0.63% positive close.

Consequently, the key performance NSE All-Share index gained 22.03 basis points, opening at 25,199.84bps, touching an intra-week high of 25,236.60bps on a mixed sentiments of profit taking and positioning. This was driven by low price attraction and expectation of first tier banks earnings reports in the midst of negative macroeconomic indices, linked to the pandemic. The NSE’s benchmark index closed the week up at 25,221.87bps, just as, market capitalization rose by N12.22bn, closing at N13.16tr, from N13.15 trillion, which represented 0.09% value gain. The difference by the rise in NSEASI and capitalization in the period under review followed the listing of additional 2.03bn shares of Consolidated Hallmark Insurance, following the successful completion of its recent rights.

Also, during the week, over seven companies presented their quarterly and full year earnings reports to the market. Three months’ scorecards were submitted by directors Flour Mills Nigeria, Northern Nigeria Flourmills, and Lasaco Assurance; while half-year numbers emanated from E-Transact and Champion Brewery. There was also the full-year earnings report for December 31, 2018 from Standard Alliance Insurance.

In that same week, the share price of MTNN, Flourmills and CHI Plc were adjusted for dividend of N3.50, and N1.40, as well as a bonus of one shares for every 15 held respectively.

Low priced stocks and manufacturing companies dominated the top advancers’ table, reflecting the increased buying interests as gainers outnumbered decliners in the ratio of 31:27, while the energy behind the week’s performance was relatively strong, with Money Flow Index reading 67.34bps from prior week’s 66.88ps. These were due to portfolio rebalancing and sectoral rotation.

Technically, the NSE index is at its strong resistant level after forming a double top on the daily and weekly charts that signal a pullback or breakout, depending on market forces in the new week. Meanwhile, next week happens to be the last full trading week for the month of August, and the end of the regulatory period for submission of audited half-year financials by dividend paying banks. This is just as the index continues to trade above its 20-Day Moving Average while almost testing the 50-DMA to breakout, and crossing 50% line of the Fibonacci retracement on low traded volume that betrays the wait-and-see attitude of traders.

Looking at the dwindling gaining momentum of the market ahead of month-end and repositioning of portfolio for Q3 numbers in October, we envisage profits booking when these banks finally release their earnings reports, especially those that had rallied with low yield.

Mixed Sectoral Indices

The sectorial performance indexes were largely bullish, except for NSE Oil/Gas and Industrial Goods closing 0.92% and 0.41% lower respectively, while the NSE Insurance index led advancers, gaining 4.40%. It was followed by the NSE Consumer goods and Banking that closed 1.88% and 0.81% higher respectively. The current general market mood and economic situation, suggests diversification as investors target sectors with strong potentials to sustain positive earnings and high upside potential for undervalued stocks. At the same time, funds are flowing out of oil marketing and building material companies, therefore the overall outlook remains mixed and bullish in the short-term.

The week’s activities, in terms of volume and value, were down by 26.92% and 27.35% respectively as investors traded 950.41m shares worth N10.12bn, from the previous week’s 1.33bn units valued at N13.93bn. The week’s volume got a boost from trades in financial services, consumer goods and conglomerates stocks, especially Zenith Bank, Guaranty Trust Bank, Transacorp, Nigerian Breweries and International Brewery.

Lasaco Assurance and International Brewery were the best performing stocks during the period as they garnered 26.92% and 26.32% respectively, closing at N0.33 and N3.60 per unit on the five kobo dividend and low price attraction respectively. On the flip side, Royal Exchange Assurance and ABC Transport lost 16.13% and 14.89% respectively, closing at N0.26 and N0.40 per share on profit taking.

Market Outlook

We expect a breakout or pullback at the current resistant level of the market, depending on investors’ reactions to the audited half-year earnings reports from Zenith Bank, Guaranty Trust Bank, Access Bank, UBA, Stanbic IBTC and Fidelity Bank, which are likely to hit the market any moment from now. In the face of mixed sentiments, adjustment of NNFM for 15 kobo dividend and portfolio rebalancing on the strength of half-year reports that beat market expectations, retail and institutional investors are being spurred to look the way of equity assets with high yields.

We cannot also rule out investors pricing in government’s inconsistency, policy mismatch and weak macroeconomic data as labour market report released by NBS which revealed the high level of unemployment in the country, a situation that remains a threat to the economy. Already, the inflation rate has risen above the Central Bank of Nigeria (CBN) benchmark Monetary Policy Rate (MPR) at 12.5%, even as the declining industrial productivity points to the reality of a recession.

The sectoral rotational wave will help investors cash in on low cap stocks and sectors that have suffered huge losses before now. Already investors are looking the way of healthcare, airline service providers, oil marketing stocks, banking among sectors likely to be impacted positively in the much anticipated global and domestic economic recovery.

Also, the possibility of continued funds inflow to low priced stocks is high, due to the higher yields and upside potentials, considering the low rates on offer in the money and bond markets. In the meantime, investors should also look out for developments around the implementation of the CBN’s funding plan for small and medium scale businesses.

Already, we notice that investors are taking position in healthcare and other defensive stocks likely to survive this meltdown, as seen in the increased trading in them, even as the global markets continue on the recovery path, with the gradual easing of the lockdown.

While discerning investors should prepare to take advantage of stocks revaluation to position for the medium to long-term, it is noteworthy that the Nigerian equity market is selling at a discount and therefore offers high upside potential.

Expect a pullback that will support the upside potential, especially with many fundamentally sound stocks remaining underpriced, and the dividend yield of major blue-chips continuing to look attractive in recent weeks, we expect speculative trading to shape the market’s direction, despite the seeming mixed outlook.

To position for the short to long-term, investors should target fundamentally sound, dividend-paying stocks, for possible capital appreciation in the coming months. Also, traders and investors need to change their strategies, because of the NSE’s pricing methodology, the CBN directives, and their impact on the economy in the nearest future.

Ambrose Omordion

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

https://investdata.com.ng/diversification-as-investors-eye-strong-potentials-interim-div-bank-earnings/

The Profit Point on OGTV 20th August 2020

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Investdata Weekly Sentiment Report for the week ended 23 August 2020

NSEASI buy 96% sell 4% volume index 0.70 MFI 67.06
Abc buy 0% volume index 0.75 MFI 60.07
Access buy � volume index 0.86 MFI 68.34
Afrprud buy � MFI 61.76
Aiico buy 33% sell 67% volume index 1.19 MFI 57.72
Ardova buy 0% MFI 31.82
Cap buy 50% sell 50% volume index 7.64 MFI 20.06
Caverton buy 0% MFI 13.97
Chams buy � volume index 1.79 MFI 32.38
Conoil buy 0% MFI 22.62
Corner buy � volume index 0.78 MFI 59.44
Custodian buy � MFI 36.88
Cutix buy 89% sell 11% volume index 2.54 MFI 71.60
Dangcem buy 0% MFI 67.52
Dangsugar buy 67% sell 33% volume index 0.93 MFI 65.84
Eti buy 33% sell 67% volume index 1.29 MFI 38.57
Fbnh buy 33% sell 67% MFI 41.99
Fcmb buy 50% sell 50% MFI 60.18
Fidelity buy 83% sell 17% MFI 59.71
Fidson buy � volume index 0.99 MFI 81.08
Fmn buy � volume index 1.19 MFI 20.62
Glaxo buy 71% sell 29% volume index 1.58 MFI 51.86
GT buy 33% sell 67% MFI 67.79
Honyflour buy � volume index 2.35 MFI 61.59
Jaiz buy � MFI 44.71
Japaul buy 0% volume index 0.90 MFI 56.30
Jberger buy � MFI 49.21
Lasaco buy � volume index 5.54 MFI 69.64
Learn buy � MFI 60.25
Lvstk buy 73% sell 27% volume index 2.05 MFI 54.69
Mansard buy 0% volume index 1.79 MFI 57.40
Mben buy � MFI 55.14
Nahco buy 0% MFI 44.18
Nascon buy � volume index 7.90 MFI 62.40
Neimeth buy � MFI 75.89
Npf buy � MFI 47.49
Oando buy 46% sell 54% MFI 31.79
Okomu buy 60% sell 40% volume index 1.52 MFI 53.32
Presco buy 77% sell 23% MFI 98.95
Pz buy 0% volume index 0.95 MFI 43.89
Regalins buy 0% MFI 55.23
Royalex buy 0% volume index 1.42 MFI 77.51
Stanbic buy � volume index 0.94 MFI 72.08
Sterling buy 75% sell 25% MFI 20.45
Transcorp buy 50% sell 50% volume index 1.67 MFI 30.81
Uacp buy 80% sell 20% volume index 2.90 MFI 67.66
Uacn buy 8% sell 92% volume index 1.12 MFI 12.30
Uba buy 50% sell 50% MFI 52.94
Ucap buy 87% sell 13% MFI 82.65
Unilever buy � MFI 91.78
Uniondac buy 0% MFI 10.79
Unity buy 0% MFI 68.45
Upl buy 57% sell 43% volume index 2.03 MFI 65.73
Wapco buy 25% sell 75% volume index 0.81 MFI 65.97
Wapic buy 0% MFI 41.86
Wema buy 33% sell 67% volume index 1.17 MFI 61.12
Zenith buy 33% sell 67% MFI 59.59

https://investdataltd..com/2020/08/investdata-weekly-sentiment-report-for_24.html

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Investdata Daily Sentiment Report as of August 19, 2020

NSEASI buy 0% volume index 1.33 MFI 67.44
Access buy 67% sell 33% volume index 2.16 MFI 62.62
Aiico buy 0% volume index 2.01 MFI 44.89
Caverton buy 0% volume index 2.36 MFI 61.93
Fbnh buy � volume index 0.73 MFI 33.82
Fcmb buy 0% MFI 46.97
Fidelity buy � volume index 1.40 MFI 72.02
Fmn buy � volume index 2.12 MFI 66.29
GT buy � volume index 1.89 MFI 83.80
Japaul buy 0% volume index 1.77 MFI 24.23
Lasaco buy � volume index 15.76 MFI 94.13
Lvstk buy 0% volume index 0.91 MFI 4.95
Mben buy 0% MFI 69.77
Nahco buy 0% volume index 3.05 MFI 43.62
Oando buy 0% volume index 1.39 MFI 72.62
Sterling buy 75% sell 25% MFI 42.40
Transcorp buy 33% sell 67% volume index 1.41 MFI 22.53
Uacn buy � volume index 1.51 MFI 72.86
Uba buy � MFI 82.66
Ucap buy � volume index 1.01 MFI 69.07
Uniondac buy 0% volume index 5.41 MFI 0.00
Wapco buy 0% MFI 36.08
Wapic buy 0% MFI 65.38
Wema buy 0% volume index 1.87 MFI 36.11
Zenith buy � volume index 2.29 MFI 33.96

https://investdataltd..com/2020/08/investdata-daily-sentiment-report-as-of_19.html

Mixed Trading Ahead Still, As Inflation Data Influences Investment Decisions


Market Update for August 17

Monday’s trading activities on the Nigerian Stock Exchange remained volatile and mixed with the benchmark All Share index closing red again, thereby extending Friday’s negative stance. This is amidst global fears as the coronavirus scourge fuels mixed trend, threatening economic recovery, even as nations relax the lockdowns to allow for productive activities.

The nation’s negative macroeconomic indices continue to worsen meanwhile, as revealed by the latest labour market reports estimating underemployment and unemployment rates at 55.7% at half-year 2020; while July consumer price index soared by 12.82%, rising for the 12 consecutive month, from 12.56% in June. These are further manifestations of policy mismatch among government and its economic managers as the economy continues to gasp for breath in the absence of a clear direction and political will to do the needful. The government however continues to borrow, swelling public debt, which many fear has reached unsustainable levels again, amidst confirmation of reports about a sovereignty clause in the loan from China by the House of Representatives after strident denials by the Federal Government.

The rising inflation and attendant high cost of living today, amidst the novel coronavirus pandemic spread, has exposed the lack of coordination among government agencies and policy makers at all level.

The situation is getting worse with policy summersaults, insincerity of government, insecurity in the farm, high cost of transporting produce, multiple taxes or levies on the road, and low farm yields, among others. This trend is likely to continue as farmers are already complaining of bad weather of the scant rains which would likely impact negatively on commodity prices and keep inflation on the rise.

The mixed sentiment during the trading session failed to lift the market as profit taking continued among high cap stocks, irrespective of the buying interests in consumer goods, insurance and oil/gas sectors on low valuation and the impressive first quarter earnings from March year end accounts. This is especially as flour milling companies have posted better-than-expected full-year and first quarterly numbers.

Meanwhile, Monday’s trading started slightly on the upside and was sustained till mid-morning before oscillating between the midday to afternoon on mixed sentiment, position taking and profit booking across sectors. These pushed the NSE’s composite NSEASI to an intraday low of 24,883.70basis points, from its high of 25,236.97bps, before retracing up slightly and closing at 25,143.68bps.

Market technicals were weak and mixed, with volume traded lower than that of previous session in the midst of breadth that favoured the bulls on mixed sentiments as revealed by Investdata’s Sentiment Report showing 70% ‘buy’ volume and 30% ‘sell’ position. Total transaction volume index stood at 0.78 points. The momentum behind the day’s performance remained relatively strong, despite looking down as Money Flow Index read 66.28points, from the previous day’s 66.10points. This is an indication that funds entered some stocks, despite the down market, in the midst of prevailing low liquidity as unstable exchange rate continues to impact smart money flow.

Index and Market Caps

The NSEASI, at the close of Monday day’s trading, shed a marginal 56.16bps, closing at 25,143.68bps, from its opening figure of 25,199.84bps representing a 0.22% drop, just as market capitalization fell by N26.3bn, closing at N13.12tr, from the N13.15tr opening value, which also represented 0.22% value loss.

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Monday’s downturn was impacted by continued profit booking in medium and high cap stocks like Dangote Cement, Guaranty Trust Bank, Ecbank Transnational Incorporated, UACN, Access Bank, International Brewery, Fidelity Bank, and United Capital. This expectedly impacted mildly on the NSE, as Year-To-Date loss increased to 6.33%, while market capitalization YTD gain dropped to N152.37bn, representing 1.18% above the year’s opening value.

Mixed Sector Indices

The sectorial performance indexes were largely bullish, except for the NSE Industrial Goods and Banking that closed 0.38% and 0.24% lower respectively, while the NSE Insurance led the advancers after gaining 2.89%, followed by the NSE Consumer Goods and Oil/Gas with 0.59% and 0.49% higher respectively.

Market breadth was positive as advancers outnumbered decliners in the ratio of 17:15, while market activities in terms of volume and value traded fell by 66.69% and 59.87% with investors trading 161.23m shares worth N1.85bn, from Fri day’s 482.52m units valued at N4.52bn. Volume was boosted by trades in Guaranty Trust Bank, Zenith Bank, Sterling Bank, FBNH and International Breweries.

The best-performing stocks for the session were Unilever and NNFM, which topped the advancers table, gaining 10% and 9.82% respectively, closing at N13.75 and N4.25 per share on low price attraction and improving earnings. On the flip side, Livestock Feeds and Vitafoam lost 8.33% and 5.22% respectively, closing at N0.55 and N5.45 respectively on profit-taking.

Market Outlook

We expect a mixed performance on profit taking and buying interest as corporate earnings, while equity prices may reflect the released inflation figure of 12.82% and influence investment decision and flow of funds as the market expects the earnings reports of the big banks. The mixed intraday movement is likely to persist in the midst of profit booking and investors repositioning their portfolios ahead of Q3 numbers and last quarter of the year. This is also against the backdrop of the fact that the capital wave in the financial market may persist in the midst of relatively low-interest rates in the money market, high inflation and unstable economic outlook for 2020 as government and its economic managers are going front and back with mismatch polices.

Also, investors and traders are positioning in anticipation of interim dividend pay companies earnings reports, amidst the changing sentiments in the hope of improved liquidity and positive economic indices which may reverse the current trend.

We see investors focusing on portfolio adjustment and rebalancing by targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.

Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital appreciation for the rest of the year.

https://investdata.com.ng/mixed-trading-ahead-still-as-inflation-data-influences-investment-decisions/#more

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https://investdataltd..com/2020/08/your-theory-of-more-2-things-that-kept.html

Investdata Daily Sentiment Report as of 18 August 2020

NSEASI buy 70% sell 30% volume index 0.81 MFI 66.28
Access buy 0% MFI 59.38
Aiico buy 50% sell 50% volume index 1.07 MFI 32.73
Chams buy � volume index 2.33 MFI 67.12
Dangcem buy 0% volume index 2.52 MFI 20.96
Eti buy 0% volume index 1.83 MFI 20.61
Fbnh buy 0% MFI 38.13
Fcmb buy � MFI 50.53
Fidelity buy 0% MFI 81.52
Fidson buy � volume index 2.98 MFI 100.00
GT buy � volume index 1.03 MFI 82.20
Japaul buy 0% MFI 28.34
Jberger buy � volume index 0.97 MFI 17.42
Lvstk buy 0% volume index 1.53 MFI 5.53
Sterling buy 0% volume index 0.88 MFI 43.56
Transcorp buy 0% MFI 16.20
Uacn buy 9% sell 91% MFI 76.49
Uba buy � MFI 83.40
Wema buy 0% MFI 36.00
Zenith buy 0% volume index 1.21 MFI 36.01

https://investdataltd..com/2020/08/investdata-daily-sentiment-report-as-of_18.html

Investdata Weekly Sentiment Report for the week ended 16 August 2020

NSEASI buy 91% sell 9% volume index 0.97 MFI 66.88
Access buy 17% sell 83% volume index 1.49 MFI 69.83
Afrprud buy � MFI 54.32
Aiico buy 29% sell 71% MFI 66.13
Airtel buy � volume index 5.60 MFI 84.24
Ardova buy � MFI 26.03
Bua buy 95% sell 5% volume index 1.13 MFI 46.22
Cadbury buy 74% sell 26% volume index 0.82 MFI 43.56
Cap buy 0% volume index 4.62 MFI 23.00
Caverton buy 0% MFI 13.27
Chams buy 50% sell 50% volume index 2.32 MFI 36.88
Chiplc buy 56% sell 44% volume index 1.43 MFI 44.04
Cileasing buy � MFI 51.59
Corner buy 0% volume index 0.75 MFI 58.37
Courtville buy 0% volume index 0.93 MFI 57.15
Cutix buy 35% sell 65% volume index 2.31 MFI 68.06
Dangcem buy 0% MFI 71.65
Eti buy 20% sell 80% volume index 1.60 MFI 45.25
Fbnh buy 0% MFI 48.81
Fcmb buy 70% sell 30% MFI 60.36
Fidelity buy 18% sell 82% volume index 1.14 MFI 64.44
Fidson buy � volume index 1.00 MFI 85.16
Fmn buy 73% sell 27% volume index 1.69 MFI 23.53
Glaxo buy 0% volume index 1.06 MFI 56.64
GT buy � volume index 0.87 MFI 67.27
Honyflour buy 88% sell 12% volume index 1.41 MFI 54.19
Jaiz buy 50% sell 50% volume index 1.86 MFI 45.74
Japaul buy 0% volume index 1.03 MFI 55.29
Lasaco buy � volume index 1.16 MFI 53.82
Lawunion buy 0% volume index 0.86 MFI 27.31
Learn buy � MFI 72.39
Linkass buy � volume index 2.26 MFI 11.69
Lvstk buy 67% sell 33% volume index 1.15 MFI 47.86
Mansard buy � volume index 2.63 MFI 52.43
M&B buy 0% MFI 55.27
Mben buy 0% volume index 0.84 MFI 54.59
Mtnn buy 33% sell 67% MFI 43.15
Neimeth buy 0% volume index 1.40 MFI 75.57
Npf buy � MFI 53.45
Oando buy 87% sell 13% MFI 37.46
Okomu buy � volume index 4.53 MFI 57.36
Presco buy � MFI 98.94
Prestige buy � volume index 1.48 MFI 66.65
Red buy 0% MFI 72.26
Regalins buy 0% MFI 68.74
Seplat buy � volume index 1.24 MFI 26.33
Stanbic buy � volume index 0.90 MFI 69.25
Sterling buy 33% sell 67% volume index 0.76 MFI 23.36
Total buy � volume index 1.28 MFI 55.14
Transcorp buy 43% sell 57% volume index 3.32 MFI 24.79
Uacn buy 27% sell 73% volume index 1.11 MFI 10.19
Uba buy 75% sell 25% MFI 53.37
Ucap buy 64% sell 36% MFI 73.71
Unilever buy 50% sell 50% volume index 10.26 MFI 91.95
Unity buy 0% MFI 70.88
Wapco buy 0% MFI 68.30
Wapic buy 75% sell 25% volume index 5.55 MFI 37.35
Wema buy 0% volume index 2.59 MFI 62.78
Zenith buy 33% sell 67% MFI 57.64

https://investdataltd..com/2020/08/investdata-weekly-sentiment-report-for.html