Mixed session ahead, as investors bet on MPC outcome, full-year earnings

Mixed session ahead, as investors bet on MPC outcome, full-year earnings   By Investdata Analysts   Profit taking on the Nigerian Stock Exchange continued Tuesday, in the midst of volatility and selling sentiment, as traders cashed out profit from the recent rally, amidst permutations as to options open to members of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) when they meet for the first time this year, next week. This is just as there are talks around what to expect from various sectors and companies as they…

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How local investors dominate N1.03trn share deals in 2020 – Onyema

Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange

How local investors stimulate N1.03trn share deals in 2020 – Onyema   Oscar Onyema, the chief executive officer of the Nigerian Stock Exchange (NSE) has given details of how the local bourse benefited from dominant participation of local investors in 2020. Delivering his presentation at the NSE’s annual 2020 Market Recap and 2021 Outlook on Tuesday, Onyema noted that while transaction value in the market surged to N1,03 trillion in the year under review, local investors were responsible for most of the share deal, outperforming their foreign counterpart. “Noteworthy is…

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Profit-taking in bellwethers costs stocks N393bn, 2021’s first loss

Chill in Nigeria stock market as investors lose N340bn in one day

Profit-taking in bellwethers costs stocks N393bn, 2021’s first loss   Equity investors in Nigeria experienced their first loss of the year on Tuesday as the stock market reversed previous gains, shedding N393 billion. The downturn was driven by profit-taking on bellwethers, particularly BUA Cement, MTN Nigeria and Zenith Bank Plc, losing -5.9 per cent, -2.8 per cent and -4.3 per cent respectively. Precisely, the benchmark index declined by 751.25 points or 1.83 per cent to 40,396.14 points while aggregate valuation equities in the local bourse closed lower at N21.122 trillion.…

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NGSE outlook positive, time to diversify portfolio long-term ahead of possible correction

Large-cap stocks lift Nigerian stock market by N245bn

Market Update for the Week Ended October 2 and Outlook for Oct 5-9 By Investdata Analysts Nigeria’s equity market turned positive last week, extending its bullish-run for the second consecutive week, thereby breaking out the first major resistance level on strong positive sentiments for high-flyers and growth stocks, ahead of the Q3 earnings reporting season. The market rally and strong recovery seen so far are the results of increasing interests by smart money comprising foreign and domestic institutional investors, fund managers, pension fund administrators, high net worth individual, as well…

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Correction Ahead On NGSE, As Investors Position For Interim Divs, Economic Data

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Monday’s trading on the Nigerian Stock Exchange (NSE) closed slightly higher on increased buying wave in manufacturing and banking stocks that pushed the composite All-Share index up, sustaining its positive outlook for three consecutive sessions of gains. The NSEASI has again formed another double top on a daily chart at a strong resistance level of 25,605.59 basis points on a relatively high traded volume and mixed sentiment, trading above the seven, 20 and 50-Day Moving Average. Technically, at the end of Monday’s trading there was a reversal sign in trend…

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MTN, NB fail to rescue equities as sell-offs continue

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Investors lose fresh N44bn Profit-taking to blame __________________________ The tussle between the bears and the bulls at the Nigerian stock market on Tuesday ended in favour of the bears despite frantic efforts by MTN Nigeria and the Nigerian Breweries Plc as the main gainer of the day. The equities market sustained downtrend on with another N44 billion loss in market value as investors continued to book profit leading to sell pressure. Banking stocks bore the brunt by witnessing more the sell-offs. Consequently, All-Share Index (ASI) closed 0.33 per cent lower…

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NGSE Closes Flat, Amidst Portfolio Adjustments, Positioning For Q3 Earnings

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Market Update for August 27 By Investdata Analysts Profit taking on the Nigerian Stock Exchange (NSE) Thursday halted the seventh consecutive days of gain as the key performance All-Share index closed lower on mixed sentiments, after high cap stocks bowed to selling pressure at a time interim dividend paying banks continue to delay the release of their audited half-year earnings reports, fueling the need for more caution. The market slowdown in the midst of month-end window dressing and the lookout for the scorecards, as well as the pullback in oil…

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Diversification, As Investors Eye Strong Potentials, Interim Div Bank Earnings

Market Update for the Week Ended August 21 and Outlook for August 24-28 By Investdata Analysts The Nigerian Stock Exchange (NSE) witnessed a weak and mixed bull-run, closing slightly higher last week on a low traded volume, amid caution by investors and investors to avoid being trapped, especially as the corporate earnings reporting season gradually to an end and all eyes are set on the score-cards of interim dividend paying banks results. Despite the seeming bull transition during the week, profit taking activities hit some sectors and companies as players…

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Equities defy predictions; sustain bull-run with N50bn

Equities make rebound attempt with N30bn gain In a struggle between the bear and bull camps, the bulls managed to reclaim the trading floor of the Nigerian Exchange Limited on Wednesday by closing the session on N30 billion gain. The gain of the day was however a mere attempt to recover a whooping loss of N340 billion to sell-offs in the preceding session. Business Metrics also observed that the N30 billion profit was a narrow escape from another bearish experience that prevailed for most of trading hours of the day before activities in the shares or MTN Nigeria at the eleventh hour averted the crisis and thus, spurred the first gain of the week. As MTN gained 1.2 per cent to close the day, the benchmark index inched higher by 0.15 per cent to 38,564.70 basis points, while market capitalisation followed suit to close higher at N20.099 trillion. Consequently, the Month-to-Date (MtD) return increased to +0.3 per cent, while the Year-to-Date (YtD) loss moderated to -4.2 per cent. Sectoral performance was mixed, as the Oil & Gas and consumer goods indices gained +0.9 per cent and +0.2 per cent respectively, while the insurance and banking indices closed in the red by -0.5 per cenr and -0.3 per cent in that order. The Industrial Goods index was flat. Turnover for the session was mixed as total volume traded increased by 1.81 per cent against shrinking trade value that plunged by 23.02 per cent. At the close of the session, investors collectively traded 302.72 million share units, valued at N2.81 billion, and exchanged in 4,387 deals. This is in contrast with 297.34 million shares worth N3.65 billion that exchanged hands in 4,402 transactions in the previous session. According to trading statistics obtained from the Nigerian Exchange Limited, STERLNBANK was the most traded stock by volume at 37.47 million units, while GUARANTY was the most traded stock by value at N745.34 million. As measured by market breadth, market sentiment turned positive (1.4x) as 27 tickers gained, relative to 20 losers. CORNERST and MORISON recorded highest gains of the day as they appreciated by 10.0 per cent and 9.7 respectively. On the flip side, while both ABBEYBDS and CHIPLC shed -9.5 per cent in share prices to top the losers’ list.

Against predictions by analysts that the equities market would succumb to profit-taking pressure on Thursday, the bullish outlook of the market again played out on the day’s activities as investors recouped fresh N50 billion gain. The earlier prediction followed an initial gain of N134 billion recorded on Wednesday when the market surmounted the bears’ pressure to rebound in green. As the market appreciated by 0.38 per cent on Thursday, the All-Share Index (ASI) added 95.97 points to close at 25,236.97 basis points. Market valuation of equities investment at the Nigerian…

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