STOCK ANALYSIS: Profit-taking persists, as investors await trigger for next direction

STOCK ANALYSIS: By Investdata Analysts Mixed performance and portfolio reshuffling continued on the Nigerian Stock Exchange (NSE) Tuesday, with the composite All-Share index closing flat, but with less momentum. This was despite the persistent profit-taking and cautious trading as the market awaits positive trigger for either a reversal of trend, or continuation of pullbacks. The side trending mode of the market is a pointer to the wait-and-see attitude of investors.  However, the current daily chart is still trading above the shortest moving average of seven days, after the index has…

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STOCK ANALYSIS: Zenith Bank Q3: Revenue, profit growth, supports high dividend payout possibility

Zenith Bank retains title as Best Bank in Nigeria

Last week, Zenith Bank Plc released its long-expected unaudited financials for the nine-month ended September 30, 2020, later than the released date of the 2019 scorecard, showing that earnings have grown consistently on quarterly and yearly bases over the years. The bank has also sustained its culture of risk management that has kept impairment charges lower over the years, enhancing profit, besides the high asset quality and strong balance sheet that supports outstanding performance in a challenging environment. The result therefore points to the possibility of a high dividend payout…

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Amid Positive NGSE Outlook, Time For Short, Medium-term Positions

Nigerian equities extends gain on Tuesday to cross N20trn market value

Market Update for the Week Ended October 9 and Outlook for Oct 12-16 By Investdata Analysts The positive trend on the Nigerian Stock Exchange continued last week, extending the bull-run for the third successive week despite the profit taking witnessed within the period as traders cashed out their recent gains. The seeming pullback is expected to create entering opportunities for discerning investors and traders given that those factors behind the market rally remain intact. Price correction as experienced by blue chip companies and growth stocks are expected to further strengthen…

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