Invest Data Consulting Ltd

Market Update for February 21 Trading on the floor of the Nigerian Stock Exchange on Wednesday was volatile once more, closing flat, following through the previous session, just as it proof very resilient to remain above the 42,000 level, despite the mixed sentiments during the trading session. The NSE composite index was up pre-market, but opened higher, sustaining the momentum within the mid-morning to midday at 42,241.04 which was the day’s high, before rallying to resistance, pulled back and consolidated. It broke out in the morning and ran up into the last couple of hours when it consolidated, but held, and closed in the green column on improved volume traded but negative market breadth. The NSE All Share index was up 9.92 at 42,158.32, which was 96.34 points off its intraday high, even as the market struggled for direction with the changing pattern as observed so far. Investors and traders should therefore combine fundamentals of the market/companies and index/price ...

Investdata Consulting Limited will on December 9, 2017 host another edition of its one-day annual Traders and Investors’ Summit to look once again into the investment opportunities presented by the coming year, looking at the current economic and market fundamentals as a basis for forecasting what the coming year holds for investors and investments. At the last edition, held on December 3, 2016, the attention of participants were called to 10 “RECESSION-PROOF” Stocks and likely honey-pots in this ongoing year at a time the market was still in red and investors where edgy as to what 2017 holds. Those who attended the summit would remember the following 10 suggested stocks: ·          United Capital Plc ·          United Bank for Africa Plc ·          Dangote Sugar Plc ·          Zenith Bank Plc · ...

NSE INDICATORS SEEK DIRECTION, AS VOLATILITY, PORTFOLIO REBALANCING, PROFIT TAKING LINGER The stock market on Thursday was lower on a mixed session that was volatile as traders took profit from short positions in rebalancing their portfolios and positioning. The mixed sentiments followed the indifference among market players to the N8.6tr 2018 budget estimates submitted to the National Assembly and the downgrade of Nigeria’s sovereign rating by Moody’s. The seemingly weak speculation at this point should not shake you out of position as major factors to force prices to another lower lows are currently absent in the market except for market sentiment to different news or policy statements and action of the government or its agency. The smaller the range, the less the volume, the higher the possibility that the uptrend will continue since the recent strong resistance level have been broken, waiting for more volume for continuation of uptrend. The retention of Nigeria in the MSCI ...

AGAIN, IT’S CAUTION, AS INVESTORS, TRADERS AWAIT MORE DATA, BREAKDOWN OF 2018 BUDGET Nigeria’s equity market on Wednesday had a very volatile session, but continued its uptrend despite the seemingly weak market breadth, closing higher on the strength of last minutes appreciation in the share price of Dangote Cement (which alone accounts for about one-third of total market capitalization), following which it traded above the psychological line of 37,000 level on a low volume that made technicals for the day weak and mixed.  During, the trading session price performance of banking stocks were mixed as the sector’s index, as well as the NSE Insurance closed lower. The fact that the Tuesday’s presentation of a N8.6tr Appropriation Bill for 2018 had little or no impact on the market, could mean that investors are indifferent to the fiscal spending plan, given, like Investdata noted in its update of Tuesday, that the effect of the 2016 budget and the current one (2017) has n...

INVESTORS AWAIT MORE EARNINGS REPORTS, BUT KEEP EYES ON ECONOMIC DATA The nation’s equity market on Wednesday had a volatile session as usual, but unlike in recent times, it closed positive as more impressive earnings strengthened the momentum to keep the market within the rising channel chart pattern as its trading above the 20 day moving average on a high volume of trade and healthier market breadth. The positive technicals signal the very short term rally in the last few day of the earnings reporting season that comes to an end officially on October 31, which may likely support the current trend if the remaining companies release impressive financials. The session started with a gap up that was sustained till the end, closing higher, despite the intraday up and down movement that broke out the recent resistant level to a high of 36,754.39 and low of 36,531.62 which was the opening point for the day. Earnings surprises in some companies and expectation from some in the bank...

GTBank 2017 Q3 graph courtesy TRW Stockbrokers Ltd. Directors of Guaranty Trust Bank Plc, on Wednesday presented its un-audited financials for the nine-month ended September 30, 2017, which showed that the period was not as smooth sailing as before, especially with the drop, though marginal, in gross earnings, customer loans, as well as deposit base, the life-blood all commercial banks. The result also showed that the bank’s saving grace was the huge decline in loan impairment charges, which fell to N8.356bn, from prior nine-month’s N57.083bn as restated as well as the non-provision for the toxic Etisalat loan, both of which ensured it did not suffer a sharp drop in profit before and after tax. Gross earnings income fell from N329.283bn in the corresponding period of 2016, to N309.913bn, boosted by interest income of N248.27bn, which jumped from N181.909bn, helped by interest from customer loans and advances of N153.688bn, up from N140.779bn; as well as from investment securi...

CAUTION AMONG INVESTORS STILL, AS MORE Q3 COME BELONG EXPECTATION The nation’s stock market struggled on Wednesday, searching for direction as Q3 earnings numbers continued to trickle in to the market, even as scorecards so far released have come with mixed performance, while the ones that even came with seemingly impressive numbers are yet to receive positive market acknowledgement in terms of upward price movements. Guaranty Trust Bank Plc, Nigeria’s biggest banking stock (by market capitalization) released its numbers for the nine-month ended September 30, 2017, which analysts agree were below market expectation also at the midweek. This reality is expected to reflect on its price performance as the market open this morning.   The earnings report came with marginal decline in Topline, while bottom line moved slightly up as the bank needed to make far less provisioning for loan loss during the period . The trading session opened with the market index slidin...