Invest Data Consulting Ltd

Market Update for October 29, 2018 Monday’s was a strong volatile session on the Nigerian Stock Exchange (NSE), as the week started positive, while extending three consecutive days of uptrend as more companies hastened to release their quarterly earnings reports ahead of midweek’s statutory deadline for submission of quarterly filings for the period ended September 30, 2018. The numbers filed during Monday’s trading session showed mixed in performance, even as they came well below market expectations, especially the scorecards from bellwether stock- Nigerian Breweries, and Aiico Insurance, which further confirmed the impact of weak economic activities and dwindling productivity in the nation. Market indices opened on the downside in the morning, oscillating up and down until midday, when it bounced up significantly by afternoon on the strength of price appreciations of high cap stocks in the banking and Industrial Goods sectors. The benchmark NSE...

Market Update for June 27, 2018 Nigeria’s equity market at the midweek continued its volatility and side-ways movement, impacted by losses recorded by stocks across board, following which the benchmark index closed marginally lower in the face of mixed feelings as crude oil price remains above $70, while economic activities continue to slow down, despite the Presidential assent to the 2018 budget. There is also the prevailing wait-and-see attitude among the investing public, despite impressive earnings reports from Challrams and Tripple Gee to kick-off the inflow of March year-end accounts ahead of the statutory deadline on Friday, June 29, 2018 being the last working day of the month. The 3 kobo dividend by Tripple Gee should give insight into what the remaining companies like Honeywell, Flour Mills, University Press and Redstar Express will do, notwithstanding the fact that these companies are not in the same sector/industry. The NSE index opened the day’s tradi...

Nigeria’s stock market on Tuesday witnessed increased demand for stocks ahead of Q1 numbers resulted from the prevailing low valuations that had attracted foreign and local investors to trade huge volume in banking stocks. They were lured, as Investdata has continuously noted in the past, by the high margin of safety based on the intrinsic value of listed equities on the exchange, at a time Money flow index dropped to 32.79 points from previous day’s 44.78 points. This is an indication that funds are leaving the market. It was a very volatile session, but huge rally that started with a gap down as trading opened, a situation that lingered till midday before the market reversed on the back of heavy volume. There was stronger positive sentiment that pushed intraday highs to 40,862.01 by the afternoon from lows of 40,409.90, before closing at 40,788.68 in the last five minutes of trading. This was also helped by money market rate and bond yield that remain south ahead of the expec...

PROFIT-TAKING, VOLATILITY MAY CONTINUE AMIDST REPOSITIONING FOR QUARTERLY, FULL-YEAR REPORTS Trading on the Nigeria Stock Exchange (NSE) was once more interesting, mixed and highly volatile at the same time to start the week Monday on negative note, as the market bowed to selling pressure amidst profit talking and stock revaluations to match their fundamental strength after more prices hit their new 52-week high. Volume was huge, breadth flat, while the composite NSE All-Share index experienced a pullback to close the day. Profit taking among the conglomerate and banking stocks were unprecedented as Transnational Corporation of Nigeria (Transcorp) and some first-tier banking stocks suffered losses. The day started out with a little pop to the upside, and  had a  run up which was  consolidated midmorning, reaching intraday  highs of 45,321.82 around the noon hour, before it pulled back early afternoon to touch a low of 44,748.20, where it held support...

This sectorial index is a component of NSE benchmark Index that measure performance of consumer goods equities with mixed financial year end of March, June, September and December. The index action shows that the sector is in strong recovery mode from a three-year pullback as a result of the unimpressive numbers, political tension in 2014 pre-election, insecurity in Nigeria’s troubled North-East region as a result of the Boko Haram insurgency which significantly affected sales, uncertainty over the 2015 general election, unstable exchange rate regime, made worse by the unclear policy direction of the Federal Government that came to power on May 29, 2015, beginning with the delay in constituting a cabinet until after six months. It was only after the nation had sank deep in recession for a full year in 2016 that the government launched its Economic Recovery and Growth Plan (ERGP) in February last year. One of the hardest hit was the consumer goods sector, owing to the shortage...

In the past two weeks, the benchmark index has been on the decline, during which the month of August closed negative in the aftermath of profit taking and cautious trading as the market would not react positively as expected to impressive corporate earnings and economic data including the slowly sliding inflation and the latest report from the National Bureau of Statistics (NBS) which confirmed that Nigeria’s economy recovered, although sluggishly from recession after five successive quarters, spanning 15 months. The sell-off witnessed was part of market dynamics especially after a long rally as investors became concerned over the sustainability of the economic recovery with the way the fiscal authorities continue to foot drag in the implementation of Nigeria’s 2017 budget that ought to be the catalyst for economic growth and development. It is known that government is the biggest spender in any economy and there is the compelling need to compliment the various interventio...