Invest Data Consulting Ltd

Market Update for January 28 It was yet another volatile trading session on Monday as the heightening political tension ahead of Nigeria’s February 16 Presidential election halted the bullish transition with the return of bargain hunters, even as corporate earnings season for the 2018 full-year kicks off any moment from now. Basically, the Nigerian Stock Exchange (NSE) All-Share index opened to the downside and stayed so throughout the session. It however pulled back at midmorning, rallied, pulled back again, restarted a couple of times, and then, by mid afternoon took off, closing the day lower than it opened. This was however after touching intraday low of 31, 241.24 basis points, from a high of 31,457.07bps on a profit taking and negative breadth. The unfolding drama between the executive and judiciary signals some kind of desperation by political office holders, leading to a relegation of the rule of law, just as the nation’s constitution continues to be trampled under fee...

Market Update for March 12, 2018 Trading on the Nigerian Stock Exchange on Monday remained very volatile to close lower on a huge traded volume as the market seemingly ignores the positive and impressive earnings being released by quoted companies repeatedly. This is like a confirmation of the belief by INVESTDATA that the numbers emanating today have since been priced into the stocks before now, especially during the rally that began in the closing months of 2017 and way into January 2018, in reaction to the Q3 reports. It may also be a sign that even the technical corrections in February that kept the market in the up and down movement during the peak of earnings season has not change their minds about the stock valuations. Besides the circular by the Central Bank of Nigeria (CBN) giving conditions that qualify the nation’s banks for dividend payment, based on their exposure to Non-Performing Loans (NPL), there have also been reports by Moody’s and the International Monetar...

Buoyed by Tuesday’s release of data showing that Nigeria’s 2017 full-year Gross Domestic Products (GDP) grew by 0.83% from the previous year’s 1.58% contraction, the Federal Government says it remains upbeat that the nation’s economy will still achieve its 3.5%. A statement by the Presidency quoted Dr. Adeyemi Dipeolu, Special Adviser to the President on Economic Matters, in response to the latest GDP figures announced by the National Bureau of Statistics (NBS) as noting the 1.92% Q4 economic growth, faster than 1.4% in the preceding quarter. The latest figure, he noted marks the third consecutive growth since Nigeria’s emergence from recession in the second quarter of 2017, just as it shows the economy is improving in all major sectors, including especially the non-oil sector which had contracted for quite a while. Dipeolu, in the statement released by Laolu Akande, Senior Special Assistant to the President on Media & Publicity in the office of the Vice President, expre...