Invest Data Consulting Ltd

MARKET INDICATORS REMAIN FLAT, INVESTORS CONSOLIDATE POSITION, AWAIT FRESH BOOST Trading on the Nigeria Stock Exchange closed narrowly down on Monday to start the week as market players continued to interpret and digest the numbers posted by listed companies in the just concluded earnings season, while identifying those that really beat market expectation and analysts’ estimates.  The ongoing portfolio restructuring and balancing has created opportunities for short-term trading especially given that year-end sentiment and seasonal changes are underway, at a time impressive financials released continue to boost confidence in expectation of higher dividend in the full year earnings reporting season of 2018. The benchmark index on intraday gain broke out the psychological line of 37,000 to touch high of 37,014 from the 36,910.49 low before pulling back to close the trading session marginally lower from Friday’s level, despite the seeming range at the current resistance le...

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 cam...