Invest Data Consulting Ltd

INTEREST IN INSURANCE STOCKS, PUSH TRANSACTION VOLUME The Nigerian stock market’s volatility continued on Wednesday, with the benchmark indicators closing lower,even despite a huge volume of trade from Insurance stocksin the early hours of the day as foreign investors enterthe sector on the back of premium off market deals to continue itspullback on losses from medium and high cap stocks. Market players sold to reposition for the second quarter which begins next week, in expectation of better GDP, Inflation and Purchasing Managers Index(PMI) figures in Q2, especially with the Naira appreciating, which could help a market rally. This is however predicated on the ability of the Central Bank of Nigeria (CBN)to work towards a single exchange rate regime, avoiding capital control to attract foreign investment inflow. When the foreign portfolio investors know actually there is free entry and exit, not a situation where the funds are held back at the point of being repatr...

INVESTORS LOOK TO AWAITED FINANCIALS, MARKET SENTIMENTS FOR DIRECTION The nation’s stock market indices had a slow day with huge volume of trade to close marginally higher on seemingly positive sentiments as revealed by the volume index of 2.46 with buying position of 86% and selling volume of 14% to reverse the four trading sessions of bear run on the first day of week. The earnings reports that trickled to the market during session were mixed in performance and of the three companies, only Consolidated Hallmark Insurance recommended a dividend of 2kobo, while CCNN and Champion Brewery were silent on that subject. The apex bank continues to provide liquidity in the forex market thereby further crashing exchange rate in the black market to N360, a good omen that could boost economic recovery, going forward if sustained. Moreso, as we have repeatedly noted in INVESTDATA, a single exchange rate in the country will help to attract more foreign funds by way of investment w...

  Nigerian net exporter of cement released it full year earnings report for period ended December 31, 2016 to the investing community earlier than the release date of its 2015 numbers, to foster it believe in high quality corporate governance in creating value for shareholders by consistently keeping to its post listing obligation that helps investors to forecast and plan their investment.  The company continue investment in capacity expansion and widening of its distribution network in many Africa countries and beyond have sustain the growing sales revenue records that have equally impacted the profitability ratios on yearly basis regardless of the huge cost operation and challenging economic of African countries as a result of fall in commodity price of crude oil in 2016 before the rebound that is given hope again to the region and spot of security problem in some countries in the region.  Dangote Cement delivered impressive full year result while others i...

Earnings Season Deadline: NSE Indicators Succumb To sell Pressure Nigeria’s equity market surprisingly succumbed to selling pressure from profit takers to close the week lower, despite the increasing number of seemingly impressive earnings reports released during the period with mixed payout as revealed by corporate actions from the companies. During the week, the Central Bank of Nigeria (CBN) intensified its intervention in the forex market to bring the desirable convergence in rate to strengthen the naira and boost business activities, meeting the demand in the interbank and FMDQ platforms, putting many currency traders on the losing streak. Also, in a bid to improve liquidity in the system and support the CBN’s efforts, the Federal Government plans to start refunding the Paris Club deductions to state governments thereby enhancing liquidity in the system as the money would be used to pay arrears of salaries and pension. In the first tranche, a total of N388.3 billion ...

Stock prices on the floor of the Nigerian Stock Exchange were on the uptrend as confidence is gradually rekindling at the middle of earnings season with positive response to inflation figures released by the National Bureau of Statistics (NBS) during the week.  Also, traders moved to equities that were adjusted for dividend recently to trade their support and resistance levels for very short-term profit, added to the impressive earnings reports from Continental Reinsurance and Total Nigeria Plc.  The composite NSE All-Share Index gained 415.15 points to close the week at 25,653.16 points, from an opening figure of 25,238.01 points, representing a 1.64% growth for the period on a higher volume of trade compared to the previous week.  Buying volume of total transactions for the week was 96%, while selling position was 4% to sustain the two week’s bull transition.   Similarly, market capitalisation for the period closed higher at N8.88 trillion, from ...

Traders Look To Expected Financials, Rekindling Confidence For Direction Equities on the floor of the Nigerian Stock Exchange closed higher over the past week as stock prices relatively sustained an uptrend as traders took position in stocks that were recently adjusted for dividend to trade their support and resistance level for the very short-term profit.  The composite NSE All-Share Index gained 415.15 points to close the week at 25,653.16 points, after touching a high of 25,678.51 and low of 25,041.41 from its opening figure of 25,238.01 points, representing a 1.64% growth over the period on a higher volume of trade, compared to previous week’s.The buying volume of total transactions for the week was 96%, while selling position was 4% to continue the previous week’s bullish trend.  Market breadth analysis shows a positive sentiment as 31 stocks recorded gains, while 22depreciated in value for the period. NSEASI WEEKLY TIME FRAME The NSEASI...