Invest Data Consulting Ltd

INVESTORS SEEK CLEARER PICTURE OF ECONOMY, MARKET, AMIDST HOPE FOR MORE FINANCIALS Trading activities on the Nigeria Stock Exchange (NSE) last week remained highly volatile and bearish, halting two weeks of bull transition, despite the positive economic data and increasing number of good corporate earnings released to the market during the period. This may not be unconnected to the mixed sentiments as traders and investors positioning amidst persistent profit taking, irrespective of the impressive Q3 numbers, especially from blue chips companies. The positive Purchasing Managers Index (PMI) for the month September that was above 55 points confirmed the increasingly high productivity level in the real/manufacturing sector, added to the slow decline in inflation rate, relative stability in the Naira’s exchange rate and the 0.55% growth in the nation’s Q2 GDP rate that announce the exit of out of nation economy from recession. The corporate score-cards released have also confi...

DANGCEM, ZENITH Q3 NUMBERS INSPIRE CAUTION, AS NIGERIAN BOURSE IN SEARCH OF DIRECTION It was yet another highly volatile trading session on the Nigerian Stock Exchange on Thursday, just as activities were mixed following which the benchmark All-Share index gyrated in a north and south movement and finally closed the day marginally higher. There was however an improved buying pressure, despite the low volume traded with a flat market breadth that revealed indecision on the part of market players which slowed down the profit taking as more earnings hit the market with impressive numbers. The day started out with a slight movement down to the support level in the mid-morning, before rallying at midday, as demand for healthcare, consumer goods and banking stocks increased after Dangote Cement and Zenith Bank released their Q3 earnings reports that beat expectations. Dangote Cement and Zenith Bank reported Q3 Earnings Per Share (EPS) of N11.30 and N4.11 respectively, improving ...

Nigeria’s stock market over the past week had a volatile and mixed performance to close higher on an uptrend that supports buying opportunity as demand for stocks were in the increase with the earnings reporting season entering its peak, ahead of the release of September inflation and Q3 GDP data from the National Bureau of Statistics (NBS).  The increasing buying pressure reflected on the volume traded for the period under review, which is likely to continue in this new week judging from the fact that technicals had given a buy signal for some sectors and individual stocks, especially the stocks that will beat Q3 earnings expectations.  The improvement in market breadth in the past two weeks has strengthened the up trending ability and direction which confirms the recovery in the market on positive sentiments.  The improved speculative activities of traders are becoming noticeable in the buying pressure that supported the recent breakout that ushered i...

INVESTORS POSITION, TAKE PROFIT, LOOK TO EARNINGS SEASON, ECONOMIC DATA FOR DIRECTION The stock market on Thursday had a volatile and mixed performance to slightly reverse two trading sessions of a down market that had been on sideways trending range, before closing higher. The NSE benchmark index opened the day lower, and then rallied marginally in the mid-morning till afternoon as the intraday high of 36,732.24 remained the new resistant to breakout for new trend  to be ushered in in this recovery market and economy, especially when the Q3 corporate earnings reports that will further boost market fundamentals is around the corner. Add this to the September inflation figure and Q3 GDP numbers which will further reveal the health status of the Nigerian economy that is underway, as government still continues. It is also unfortunate that the promise  has at this point in time continue to promise that it would release funds to implement capital projects in 2017 bu...

LONG TERM TRADERS STILL BULLISH ON THE MARKET DESPITE PROFIT TAKING AHEAD OF EARNINGS SEASON, MARCO-ECONOMIC DATA Trading activities on the floor of the Nigerian Stock Exchange had a tough session on Wednesday to having closed lower for the second consecutive trading session, despite the presence of bull in the market arena ahead of macro-economic indices like September inflation and Q3 GDP figure expected to be released soon. In addition to Q3 earnings season that had just commenced with few companies like Infinity Trust Finance, United Capital  and others which have made available their Q3 scorecards to the investing public. The market index opened the day with a little slide in the  morning, but the magnitude of losses increased in the mid-morning to midday, but price appreciation in Seplat and Nestle sharp took back about two-thirds or three-quarter of the losses. In spite of the gains by these companies, the market ended on a negative note. ...

VOLATILITY RAGES AS SMART INVESTORS ENHANCE POSITIONS IN SELECTED STOCKS The nation’s stock market had a generally mixed session on Tuesday. The day started out on a front and back movement of the index before selloff ensued as a result of profit booking by short-term traders that halted four trading sessions of bull-run. This profit taking is normal and should be expected in a recovering market especially when traders had recorded capital gains.   Volatility mode in the market continued ahead of more Q3 corporate earnings being released to the market in trickles, just many have announced their closed period and released board meeting notifications. The market recorded intraday high of 36,846.77 which is becoming the new resistance level, while the day’s low was 36,747.68 points before closing the day marginally lower on a high volume. The new support level for the day was 36,747.68 as market breadth close flat.  Market momentum for the day turned weak wi...