Most people find reading or listening to the news on the daily stock market boring and uninteresting. This is can be attributed to the fact that it is usually in complex terms which are difficult to understand.
It is noteworthy that there are many platforms for analysing NSE data but they are all web-based. Yochaa app, developed by Osagie Zogie-Odigie and launched in 2016, provides answers to many unanswered questions about investing in Nigerian stocks. The app was developed to bridge the information gap and also encourage more people to invest in stocks on the NSE.
This beautifully designed mobile application equips investors including stock market followers with tools to analyze the stock market, make informed investment decisions and monitor personal investments in the NSE.
Features on the Yochaaa app include:
The Price Menu
This menu shows:
- Historic price charts and traded volume charts for all NSE traded securities.
- I also had access to the generic company information and summary.
- Snapshots from the daily performance of stocks
- Delayed real-time price, price change, and percent change.
The Explore Menu
A click on the explore menu gave me access to various stocks information such as dividend yield for all stocks on the exchange, using NSE indices to filter groups of stocks in each category of the eleven NSE indices. This comes with a chart that displays the volume of assets of the company, net income, revenue, and cash flow.
The Insights Menu
This library gave me access to a large pool of materials to broaden my knowledge about investment, and the stock market. It now seems simpler to understand the dynamics of the stock market. It contains documents on:
- Investment strategies – which contains recommended books for beginners.
- Analyst suggestions- which provide advice on which stocks to buy, hold or sell.
- NSE market review
The Portfolio Menu
I was able to create a trial account with which I bought and monitored my dummy stocks before deciding to make a real purchase. I also added several stocks to my dummy portfolio and monitor their performance.
Currently, I use the app to monitor daily happenings on the stock exchange, make informed decisions on which stock to buy, sell or hold on my real stocks. Not only does it show price movement of stocks, there is a news section that curates economic and financial news as well.
Final thoughts on Yochaa
Yochaa app is coming at a time when the Nigerian Stock Market global just gained international recognition with huge potentials for growth. Yochaa seeks to serve as a guide to intending investors and active players in the stock market.
However, the interface is not the best. Also, new functions and capabilities should be added to the app so that it will not only monitor Nigerian stocks on NSE but in other countries like the New York Stock Exchange, and London Stock Exchange. Regular updates and release of new versions must come with additional features.