Invest Data Consulting Ltd

Banking stocks by buy for Profitable Interim Dividend Income  Nigeria’s equity market at the end of midweek’s trading had a volatile day, with strong volatility at the opening and end. The day started out with a pullback to intraday low of 35,504.88 and made a three year new high of 37,794.22 to close higher in continuation of its 15-day bullish run with highly capitalized stocks recording value gain on the strength of increasing demand for blue-chips in expectation of their Q2 numbers. Many investors and traders also used the blue-chips to build hedges in their portfolios.    The day’s volume traded index was 0.94; buying position, 96% and selling volume, 4% of the total transaction. Sectoral indexes were higher as investors and traders took position in different sectors with expectation of their Q2 scorecards. The increasing inflow of foreign portfolio investors into the market continues to be driven by the flexible exchange policy of the Central...

TIME FOR CAUTION, WITH FACTORS DRIVING NIGERIA’S BULL-RUN STILL INTACT The Nigeria stock market was down throughout the mid-week trading session as selling pressure hit the market on massive profit taking and reaction to the Morgan Stanley Capital International (MSCI) Frontier Index’s to put Nigeria under consideration for a ”Standalone” re-classification until November. This part of seeing whether the Central Bank of Nigeria (CBN) can sustain funding of its recently introduced import and export Fx window as it has repeatedly assured. This delay can also be seen from the angle of the fact that the unstable price of oil at the international market may hinder the apex bank’s continued intervention, given that the commodity is Nigeria’s major source of revenue, a situation that could negatively impact its external reserve and subsequently liquidity level in the foreign exchange market. So far, the Central Bank of Nigeria (CBN) has in the last five months demonstrated its com...

MARKET UPDATE FOR JUNE 5, 2017 The growing demand for equities continued among investors on the floor of the Nigerian Stock Exchange on Monday, sustaining the bullish trend in the process, with more stocks hitting new highs. In the process also, the bourse recorded the highest daily gain in the last four years on a huge volume of trades, with a 4% in trade gain before the composite All Share index closed for the day at 3.85%. The Industrial sector emerged the biggest contributor, chalkinga 6.49% gain to close at 1,974.02. All sectorial indexes for the day closed in the green except the NSE Asem Index which remained unchanged. The rekindling confidence in the market is being driven by a combined effect of improving liquidity in the FX market and the seeming improvement in corporate earnings as revealed during the just concluded season. While the FX liquidity has been greatly enhanced through the import and export window recently created by the Central Bank of Nigeria (CBN) a...