Invest Data Consulting Ltd

INDICATORS REMAIN NEGATIVE, VOLATILE, AS INVESTORS AWAIT ONSET OF Q3 EARNINGS SEASON Trading on the Nigerian Stock Exchange (NSE), the first for the month of October, the new week and after the nation’s 57 Independence anniversary celebrations closed negative as volatility continued amidst mixed technicals.  The day’s activities opened with the composite NSE All Share index slightly in the green, running back and forth before settling at 35,262.26, after touching an intraday high of 35,475.59 as selling pressure resumed in some medium and high cap stocks around the mid-afternoon. The index however bounced back towards the close of trading, thereby reducing the sell-off, as buying positions in financial services sector stocks increased to close the sector’s index on the positive side. Market traded volume was very high with a stronger selling pressure as revealed by the volume index for the day standing at 2.61, while buying position was at 21% and 79% selling volume of t...

TALE OF THREE-YEAR HIGH, VOLATILITY, CORRECTION, IMMINENT REVERSAL  Trading on the Nigerian stock exchange (NSE) for the just concluded month of August was mixed as earlier predicted in our July round up to close lower as it halted five straight months of bullish run, after breaking out of the psychological level of 38,000 basis points. During the month, the NSE All Share index hit an intra-day high of 38,241.67 on August 14, after closing at 38,198.60 points on Friday, August 11, 2017, representing a 42.14% return on investment on that date. On that date too, market capitalization closed at N13.17tr, representing a N4.01tr or 42.64% jump in investors’ worth. During the month of August also, the NSE index tasted a low of 35,417.16, reflecting the heavy cash out by investors, which took back all of its earlier gains after attaining a three-year high during the month. The impressive Q2 numbers from the banking sector did not influence the market positively as the earni...

MARKET UPDATE FOR AUGUST 23, 2017 Nigeria’s stock market continued its volatility on Wednesday but closed positive, as technicals remained mix. The day began with a big gap up and then a pullback to support, which could not pull through, before bouncing back up to break through the resistance level again at the 37,000 psychological line after more than triple test of this level in the previous trading days as the market searched for direction. The index tried to rebound in the afternoon and indeed achieved a new nominal-session high above resistance at 37,059.21. Market sentiment at the mid-week trading session was mixed as revealed by the volume traded index of 0.51. Buying position for the day stood at 68%,while selling volume was 32% of total transaction to maintain positive trend from previous day’s position as Access Bank released its half year earnings report with a 25 kobo interim dividend (just like last year) that met investing public expectation, as UBA, Stanbic...