Removal Of SEC DG, Profit Taking, Portfolio Rebalancing, May Dominate Month-End Session

Removal Of SEC DG, Profit Taking, Portfolio Rebalancing, May Dominate Month-End Session


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Pix caption: Suspended Gwarzo (second left) and Oscar Onyema, chief executive of the Nigerian Stock Exchange (NSE) during the launch of the SEC Nigeria’s Statistical Bulletin during the Q2 Capital Market Committee (CMC) meeting on August 15, 2017 in Lagos, Nigeria

Market Update for November 29

The stock market index on Wednesday had a tough session as it remained volatile and good, consolidating momentum to close higher on high volume and strong technicals that supports short-term primary bullish market. The underlying trend extension was good, particularly on the buying pressure and market breadth that widened to reflect increased demand for stocks.
Trading started the day on a marginal gain in the opening hours, but pulled back a little in the mid-morning before the midday spike to reach intraday highs of 37,716.14 from lows of 37,466.50, before finally closing the day at 37,709.20 points.
The improving liquidity in the market should be sustained with the increase in oil price and low stock valuation as foreign portfolio investors inflows hit $4.1bn in Q3 2017, according to data from National Bureau Statistics (NBS) from half-year’s $2.7bn, representing the highest inflow in recent years. This has further revealed the confidence in the Nigeria’s foreign exchange market (FX) as CBN continued its intervention to make the market liquidity strong and stable for more than eight months with the nation’s external reserves in the up direction, moving from $26bn in December 2016 to $34bn as at October, with strong indication of climbing higher with crude oil price above $63. This is at a time the OPEC cartel is likely to extend its supply cut deal by nine months at its meeting on Thursday, November 30, since so far there is no plan to exit the strategy.
The volume index stood at 1.14 and buying position of 97%, and selling volume 3% of the total transaction to continue a two-day bull transition. The trend on Wednesday was good, but there is need for caution in this short primary bullish market. The sectoral indexes followed the path of the Composite index, except the NSE Insurance that was down.
Meanwhile, the composite index NSEASI gained 205.47 basis points to close at 37,709.20, from the 37,503.73 points, representing a 0.55% growth and similarly, market capitalisation went up by N71.56bn to close at N13.13tr from the previous day’s N13.06tr, representing a 0.55% value gain. The sustained market upturn for the day was driven by value gain in low, medium and high cap stocks like Nestle, ETI, Zenith Bank, UACN, Dangote Flour, Unilever and Forte Oil. Others include: FBNH, GTBank, Dangote Sugar,Cadbury, Fidelity Bank and Access Bank, which together impacted positively on the ASI’s year-to-date returns, taking it to 40.32%, just as YTD growth in market capitalisation stood at N3.89tr, representing a 42.08% rise over the year’s opening value.
Market breadth was positive as the number of advancers widened, outnumbering decliners in the ratio of 32:8 on a high traded volume that was lower than previous day’s level.
Activities in terms of volume and value were down by 59.92% and 0.28% respectively to 441.81m shares worth N4.8bn from previous day’s 1.1bn units valued at N4.8bn. The day’s transaction was driven by Wapic Insurance, Fidelity Bank, FBNH, Tantalizer Plc and FCMB to topped volume chart.
The best performing stocks on topping the advancers’ table were Fidelity Bank and Champion Brewery with gain of 9.94% and 8.74%, respectively to close at N1.99 per share and N2.24 per share.
On the flipside, Livestock shed a further 4.55% to close at N0.84 each on market forces and profit taking, ahead of Morison, which lost 3.57% to close at N0.55 each, also on market forces.


Being the last trading day of the month and outcome of OPEC meeting is underway, expect volatility to continue as traders take profit and balance their trading positions, which might influence price positively or negatively, depending on market momentum on the strength of liquidity and ahead of the year-end season. Also, a sentiment that may dominate Thursday’s trading session, besides the month-end portfolio rebalancing, is mid-week’s suspension of Mounir Gwarzo as Director-General of the Securities & Exchange Commission (SEC) and the setting up of an Administrative Panel of Inquiry (API) by the Finance Minister, Mrs. Kemi Adeosun, “to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General” and two of his allies. (READ).
Again, we advise that investors allow numbers to guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.
It is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk. For stocks that should be on your shopping list to buy in this seasonality changes as the year winds down, sign up to INVESTDATA BUY AND SELL signal setup by calling 08032055467.
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Sub Topics
The Pre-election Economy & 2018 Budget: Implementation and Impact On the Recovery Bull Market
In this presentation, Mr Olufemi Awoyemi the founder/CEO of Proshare Limited, chartered Accountant and seasoned financial analyst will review the economy and impact of government policies so far, discussing how the proposed N8.6tr budget will influence the economy in a pre-election year. He will also take participants through the outlook for the stock market in 2018, while attempting to answer a question like: Is there really any reason to cheer from the mere size of the 2018 budget, considering how those of the past two years have been implemented, especially during this economic recovery phases?
Impact and Implication of NSE New Rules on your Equity Investment in 2018 and Beyond.
The new strategies to trade and invest in a transforming market will be revealed to boost players profit and minimized losses by Alhaji Garba Kurfi, a chartered accountant, Fellow CIS and Managing Director of APT Securities & Funds Limited. He will also tell participants about classes of stocks to focus on, in this new market normal value of 1kobo in 2018.
The Secret For Finding Better Trades & Investment Opportunity
Mr. Abdul-Rasheed Oshoma Momoh, Head, Capital Market in TRW Stockbrokers Limited will handle: “Discover how to Trade Smarter, How You Can Stay on the Right Side of the Market Most of the Time,” as well as specific, high winning probability, chart patterns: “Trading Price Direction based on Momentum Flows, The current market cycles, how they are used for trading price direction, in addition to How to set realistic & achievable profit.”
Comprehensive Earnings Guide for Investing and Trading in 2018 Earnings Season Profitably
“Equity price movement is a function of earnings in the short run and long term,” market reaction to earnings in any market cycles is prolonged by dividend payout, relative to price. It makes a lot of sense to trade in the direction by knowing the companies that will grow their payout in 2018… as long as you identify such stocks in their early stages. Hindsight, as they say, earnings calendar, trend, surprise and quality of numbers are very useful in making profitable investment decision in 2018 and beyond, which would be handled by Ambrose Omordion, Chief Research Officer of InvestData Consulting Ltd

How to Pick Investable Securities: Using Econometric Models and Other Strategies Of Successful Traders To Improve Your Trading Margin.
In this presentation by Engr Mike Ekwueme Anyadibe, CEO of X-Front Trader Limited, you will learn how financial engineering can be applied on NGSE market data: How the gurus pick securities, depending on their client’s different investment goals, whether for dividend Income. Or, are you a momentum or trend following trader who wants to grow your wealth through the stock market? Even If you’re a complete beginner – What is model, And Why Was It the profitable strategy between 2009 – 2017 so far.
This summit is the perfect opportunity to learn from the best industry experts and to get the personal attention in the exclusive Q&A session after presentations!

The summit holds on December 9, 2017 at Ostra Hall & Hotel, Behind M.K.O Abiola Gardens, Opposite NNPC Gas Plant, CBD, Alausa, Ikeja. Time is 9:00am. The fee is N25,000 per participant. Payment made on or before December 1, 2017 attracts 10% discount. Companies sending more than two representatives would enjoy 15% discount. Those who have participated in our previous seminars and workshops will enjoy 15% discount. Payment should be made into Investdata Consulting Limited; Zenith Bank Acct. No: 1013033032 or UBA, Acct. No: 1020288683.

To register for the coming summit Kindly visit our site OR also you can call or send yes to 08032055467, 08111811223 or 08179547605

N.B: At this event you’ll hear real case studies and see examples of exactly how you can use these same techniques. This summit is packed with great content, but the room only has capacity for 100 people and registration is ongoing, so you’ll need to act fast.
If you are looking for a way to make money in the market as a Full-time or Part-time trader or investor, this is your opportunity.

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Best regards
Ambrose Omordion
CRO | Investdata Consulting Ltd
Tel: 08028164085, 08032055467