Invest Data Consulting Ltd

The nation’s stock market closed in negative territory at the end of last week, despite ending last Friday in the green. Th e Composite NSE All-Share Index recorded a 1.10 per cent decline to close at 29,834.21 from an opening figure of 30,165.22 basis points, a difference of 331.01 points.  This pushed the year-to-date negative return to 13.92 per cent.  On the big board, the decliners outpaced advancers by 39 to 29. However the mixed performance recorded in the week revealed a relative positive and strong market breadth with reducing volume momentum as traders expect more earnings reports. Below are the technical position of selected equities at the end of trading last week. AIICO On 10/16/2015, AIICO closed below the upper band by 49.3%.  Bollinger Bands are 7.60% narrower than normal.  The current width of the bands does not suggest anything conclusive about the future volatility or movement of prices.   ...

In the past seven weeks, the nation’s equity market has been struggling to recover on its own from 68 weeks ofdownturn withoutany form of stimulation from the government, especially as the economic indices are daily becoming weaker.  It also reflects the late contraction stage of the nation's economic cycle as interest rate remains high, inflation   on the increase while industrial output is decreasing on the strength of high cost of production, unfriendly business environment and lack of policy direction. Any market in the world that rebounds without improved macro-economic numbers would not be sustained to attain its former level, ratherit oscillates until there are measurable enhanced economic fundamentals to support it. The global markets performance, is a reflection of investors’ concerns over mixed earnings that are been released in Stock markets across U.S and Europe, besides the economic slowdown in China. Add this to the recent warni...

                              The Nigeria equity market moved lower last week, despite its rebound on the close of trading on Friday. This was attributed to market players’ reactions to the list of President Muhammadu Buhari's ministerial nominees, expulsion of the Federal Government bonds again from Barclay Bank's index, due to the seeming lack of a defined direction for the economy and an unstable currency management. On the big board, the decliners outpaced advancers by 48 to 23 and this reflected the negative performance recorded in four trading sessions of the week, making market breadth negative on the back of a declining volume. FCMB On 10/9/2015, FCMB closed above the lower band by 6.8%. Bollinger Bands are 18.48% narrower than normal. The current width of the bands does not suggest anything conclusive about ...