Invest Data Consulting Ltd

NSE INDICATORS STRUGGLE AMIDST MIXED PERFORMANCE, EXPECTED Q2 NUMBERS The first half of the year ended last Friday.On the Nigerian Stock Exchange (NSE), the banking sector took the lead in terms of market performance, with its index gaining 45.08%,almost double the 23.23% growth recorded by the composite index NSE All-Share index. The second half of 2017 kicked off on a negative note at the end of Monday’s volatile trading session, beginning with the benchmark index inching up in the early trading hours before gapping down at mid-day to close below the 33,000 psychological line on a low volume of trade. The day’s trading volume index stood at 0.34 on a buying position of 6%, while selling was 94% of the total volume traded.  The continued positive economic data and information hitting the market is a factor to support the expected reverse from the two-day trend, particularlyas the nation’s manufacturing sector sustained its recovery in the Purchasing Man...

MARKET UPDATE FOR WEEK ENDED JUNE 16 AND OUTLOOK FOR JUNE 19-23, 2017 Trading in Nigeria’s equity market over the past week experienced strong volatility on mixed sentiments as profit taking prevail in the first two trading sessions despite positive economic data but closed higher as investors repositioned in equities that are pulling back in view of the impending Q2 earnings reporting season expected to kick-off in July. There is also the implementation of the 2017 budget signed into law by Acting President Yemi Osinbajo, billed to begin soon . The 2017 budget is further expected to enhance the second leg by way of fiscal reform stimulus as contained in the Economic Recovery and Growth Plan (ERGP) that would go a long way to support the monetary policies of the Central Bank of Nigeria (CBN), particularly its regular intervention in the nation’s foreign exchange market. These have so far helped to drive Nigeria’s economic recovery to this time, with economic data alrea...