Invest Data Consulting Ltd

MARKET UPDATE FOR WEEK ENDED OCTOBER 27 AND OUTLOOK FOR 30- NO V 3 The last full trading week of the Q3 earnings reporting season on the Nigeria Stock Exchange (NSE) ended Friday after gyrating seriously for most of the period to close lower in consolidation of previous week’s position, despite the torrent of nine-month financials of quoted companies released even as late as Sunday afternoon. Companies on the NSE are required to submit their quarterly earnings reports to the investing community as part of their post-listing requirement and the deadline for the current season expires on Tuesday, October 31, 2017, after which those that are delinquent are flagged. During the period, the influx of impressive earnings and surprises impacted positively on some stocks and the market, with over 45 listed companies making available their scorecards. The momentum was however slowed down by profit taking as selling pressure increased with cashing of capital gains by traders leaving...

INVESTORS SEEK CLEARER PICTURE OF ECONOMY, MARKET, AMIDST HOPE FOR MORE FINANCIALS Trading activities on the Nigeria Stock Exchange (NSE) last week remained highly volatile and bearish, halting two weeks of bull transition, despite the positive economic data and increasing number of good corporate earnings released to the market during the period. This may not be unconnected to the mixed sentiments as traders and investors positioning amidst persistent profit taking, irrespective of the impressive Q3 numbers, especially from blue chips companies. The positive Purchasing Managers Index (PMI) for the month September that was above 55 points confirmed the increasingly high productivity level in the real/manufacturing sector, added to the slow decline in inflation rate, relative stability in the Naira’s exchange rate and the 0.55% growth in the nation’s Q2 GDP rate that announce the exit of out of nation economy from recession. The corporate score-cards released have also confi...