Stock Market Tips For Nigerians - Investment (5) - Nairaland
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| Re: Stock Market Tips For Nigerians by FatherOF2: 8:54pm On Oct 27, 2008 |
Gone are the days, |
| Re: Stock Market Tips For Nigerians by donshares: 3:08am On Oct 28, 2008 |
This is Donshares. I am happy am getting updates on shares from this form.I bought Zenith Bank Shares (IPO) December 2007 worth 10,000 Unit at 398,000.00Naira until today i have not received my certificate.I am New in this Share Business.I Went to their bank where i bought it and they check their list my name is not there and i showed them the copy of the receipt which the gave me then and they ask me to come back next two weeks. i dont know what to do or what action i am suppose to take or what i should expect from them and the follow up i am suppose to follow when next i go to their bank. Please,i need advice. Thanking u all remain blessed. Donshares from Owerri-Imo state. |
| Re: Stock Market Tips For Nigerians by kingrd(m): 10:02am On Oct 28, 2008 |
NDIC: 4 banks are sound Accounting Body : 7 Banks are sound CBN: All 24 Banks are sound Who are we to believe. is this economy sound? |
| Re: Stock Market Tips For Nigerians by debenzd(f): 11:01am On Oct 28, 2008 |
Ndidi is presently on TV annoucing the suspension of circuit breakers. What you see now is what you get. |
| Re: Stock Market Tips For Nigerians by FatherOF2: 8:23pm On Oct 28, 2008 |
debenzd: Hmmmm, dem don open tap finish. |
| Re: Stock Market Tips For Nigerians by egoldman(m): 3:19am On Oct 29, 2008 |
FatherOF2: And wetin be circuit breakers ? |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 8:29am On Oct 29, 2008 |
egoldman: 1% max daily loss as against 5% daily appreciation |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 8:32am On Oct 29, 2008 |
Stock Market Dips as NSE Removes ‘Circuit Breaker’ •Good times now ahead, say foreign investors By Goddy Egene and Eromosele Abiodun, 10.29.2008 The Nigerian Stock Exchange (NSE) yesterday removed the restriction of one per cent maximum downward movement of share prices as efforts to find a solution to the persistent bear run continue. The latest development has excited some foreign investors who said yesterday that the future now looks good for the nation’s stock market following the removal of artificial restrictions. THISDAY had, in its editorial last Sunday, described the “circuit breaker” as futile and called for it to be lifted. The peg was put in place on August 27, 2008 following a meeting Vice-President Goodluck Jonathan, Minister of Finance, Dr. Shamsuddeen Usman, held with stakeholders in the market to stem the fall in share prices. While the downward price move was restricted to one per cent, upward movement was left at five per cent. Despite the application of the circuit breaker, share prices plummeted further to a point where the market began to record zero price gain. Some stockbrokers and market analysts began to call for the removal of the peg, arguing that the market was still being artificially restricted from finding its level. But some interests, said to have borrowed heavily from foreign financiers, were uncomfortable as there was a possible take-over of their businesses by their financiers if share prices were allowed to go on a free fall. These interests were said to have prevailed on the NSE not to remove the one per cent peg. The Director-General of the NSE, Prof. Ndi Okereke-Onyiuke, yesterday finally announced the removal of the peg. With the decision, the +5/-1 restriction will now go back to the pre-August +5/-5, thereby allowing prices to fall by up to five per cent in a day. She said the decision to remove the restriction was informed by the position of the stockbrokers who are dealing members of the NSE and the need to stimulate foreign investments. According to her, the stockbrokers took the decision at the 12th Annual Conference held in Ilorin, Kwara State, last week. She said: “The intervention was used to feel the pulse of stockbrokers since we put the circuit breaker of one per cent downwards in our market. At first, it was welcome but all of a sudden people that were not dealing members reacted and later some people said we should not remove it because some people that are not even in Nigeria want the market to bottom out so that they can pick up our stocks for peanuts. “These were ramifications that we were not thinking of when we were singing the song of the circuit breakers. This, as at it may, we kept our ears shut until our dealing members went to Ilorin and had their conference and appeared they have collectively decided that we should remove the circuit breaker. And so after due deliberations, we have decided today (yesterday) to remove the circuit breaker and go back to five per cent up and down which is what we were doing before.” Apart from the removal of one per cent, the NSE also reversed the minimum number of shares needed to move a price of stock from 100,000 units to 50,000 units. Although the circuit breaker has been removed, Okereke-Onyiuke said it could be re-applied anytime. She said: “I want to make it clear that this will be the last announcement from the NSE concerning circuit breakers. It is from you, the stock brokers, that people heard the percentage or the style of our circuit breaking. There is no where, no stock exchange in the world, not a single one that does not have a circuit breaker. “The president [of the NSE, Mr. Oba Otudeko] and I just came back from an emergency meeting of the World Federation of Exchanges in Milan, Italy. It was made clear that this is a regulated market it is not an Over-the-Counter market that is unregulated that has a free fall. All the regulated stock exchanges in the world, every one of them has a circuit breaker. It is not the public that would hear, it is only the market control and the management of the exchange that knows when and what percentage of circuit breaking to put depending on what they see at the market, that is the regulatory role of the exchange. “We will never, ever let you know and if you decide to speculate on your own and make it public information to your investing public, it is your business. We decided to announce this because the whole world knows about this one per cent. So we want to tell the whole world that we have removed it.” Apparently worried by the focus the media is giving on the crisis in the Nigerian stock market, Okereke-Onyiuke barred journalists from the viewing gallery which is located on the 9th floor of the NSE Building. Stockbrokers who spoke to THISDAY condemned the action, saying it did not show any sign of transparency on the part of the NSE management and would further fuel speculative reporting of the activities of the market. Meanwhile, some fund managers from South Africa, New York and London visited the NSE yesterday to assess the market with a view to investing. Mr. Peter Thomson of Coronation Fund Mangers, South Africa, who spoke on behalf of others, said while the Nigerian market is very attractive, some fund managers left because of the negative rules. Thomson said with the reversal of the rules, foreign investors would return to the market soon. However, the removal of the peg dealt a big blow on the market capitalisation of the NSE as it lost N324 billion or 3.5 per cent, falling from N9.135 trillion to N8.811 trillion. The capitalisation had recorded a depreciation of 0.5 per cent or N54 billion the previous day before the price restriction was lifted. As at the close of trading yesterday the market had lost N3.8 trillion from its peak of N12.6 trillion last March and N1.4 trillion from this year opening value of N10.18 trillion. |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 8:33am On Oct 29, 2008 |
Now that the shackles have been removed,let's hope the market quickly finds a support level after an expected short free-fall |
| Re: Stock Market Tips For Nigerians by husu(m): 10:47am On Oct 29, 2008 |
@FATHER OF 2, RASPUTIN , DEBENZ and NLs, What are your views towards the present situation?. |
| Re: Stock Market Tips For Nigerians by BHG: 4:58pm On Oct 29, 2008 |
UNION BANK OF NIGERIA PLC 31-03-2008 YEAR ENDED 2008 2007 TURNOVER N112.989b N89.242b PROFIT BEFORE TAXATION N33.012b N17.577b IT DEV. FEE (N307m) NIL DEFERRED TAX (N741m) (N752m) TAXATION (N5.109b) (N2.949b) PROFIT AFTER TAXATION N26.855b N13.876b RETAINED EARNINGS N20.393b N10.711b BALANCE SHEET INFORMATION FIXED ASSETS N29.468b N27.887b CASH AND BANK BALANCES N46.956b N29.847b OTHER DEBIT BALANCE N1.052tr N642.360b TRADE CREDITS (N686.309b) (N432.084b) OTHER CREDIT BALANCES (N317.318b) (N160.526b) WORKING CAPITAL N95.795b N79.597b NET ASSETS N125.263b N107.484b PROPOSED DIVIDEND N1.00 PROPOSED BONUS ISSUE 1 FOR 6 AGM NOVEMBER 26TH 2008 CLOSURE OF REGISTER NOVEMBER 17TH TO 21ST 2008 PAYMENT DATE DECEMBER 3RD 2008 |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 2:35pm On Oct 31, 2008 |
Banks Groan Under N300bn Failed Loans By Moses Obajemu, 10.31.2008 Thisday Investigation Some Nigerian banks are currently groaning under massive weight of about N300 billion non-performing facility granted to some petroleum marketing companies to finance building of tank farms, product import and facility expansion, THISDAY has learnt. Consequently, most banks have stopped lending to small operators in the sector. A highly placed official of one of the affected banks said most of those who got the loan facility diverted the money from the original purpose for which the loans were meant, acquiring other “assets and liabilities” in the process. He also said those who actually utilised the loans had managed the funds poorly, admitting some had been gravely affected by the changing dynamics in the international oil market. This revelation is coming at a time when quoted companies on the stock exchange are said to have lost about N3.5 trillion in the value of their shares since March 2008. Most of the bank stocks have been on a freefall from an all time high, triggering panic among investors. Operators in the petroleum sector, according to investigation, sourced over N250 billion from banks as business seed capital. In effect, the players are owing banks over N300 billion plus interests, which the debtors are not servicing and are not even in the position of liquidating, thereby causing panic in the banks that granted the facilities in the construction of the depots. Competent sources informed THISDAY that some of the affected banks are gearing up to take over the tank farms and some of the assets used in guaranteeing the loans. While the total combined storage capacities of the tank farms are up to 1,000,000 mts, the average availability at any time, according to reliable sources, is about 100,000mts. The rush to establish tank farms was in response to boom expectations. Sources revealed that banks are jittery over how to recoup their funds. Market watchers however appear to have little sympathy for the banks as they point out that the banks themselves cannot escape culpability. “Banks are known to have often deployed shareholders’ funds to finance loss transactions because there is a lack of comprehensive risk assessment of importers (independent marketers who are basically traders of refined products), which implies loss via traders’ losses. They always shy away from supporting real sector principally because of the long gestation period, they go for traders because of quick returns,” a market analyst told THISDAY. Some market watchers believe banking sector regulators should come in for some knocks “for not leaning on their recent sterling reform efforts” to sanitise untoward practices that smear and endanger the sector. As it is now clear from emerging facts that operators in the downstream petroleum sector may default in repaying these loans, this has sent shock waves into the banking sector because of its financial implications. |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 2:39pm On Oct 31, 2008 |
BHG: Areas of interest coloured |
| Re: Stock Market Tips For Nigerians by atilla(m): 10:18am On Nov 03, 2008 |
@OPAKA I can recommend Citi Investment capital for you. I work there and have opened numerous accounts for Nairalanders. check our website and get back to me. www.citiinvestmentcap.com |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 7:24am On Nov 05, 2008 |
YES I CAN |
| Re: Stock Market Tips For Nigerians by rasputinn(m): 7:25am On Nov 05, 2008 |
Akingbola warns against oversimplification of meltdown The President/Chairman of Council, the Chartered Institute of Bankers of Nigeria, Mr. Erastus Akingbola, has warned against oversimplification of the current global financial crisis, saying its effect will eventually trickle down to the country. Skip to next paragraph Photo file Chairman CIBN, Erastus Akingbola He said this on Tuesday during a courtesy visit to the corporate headquarters of Punch Nigeria Limited. According to him, “Eventually, I am sure the crisis will trickle down here because even if the product that has caused them problems abroad was never sold here, because they are in trouble now, they are reducing all the lines of credit they used to make available to Africa. “The crisis in the oil market has also trickled down here. There was a time oil was as high as $147 per barrel. Now, it has come down to $60. Those who bought the product at that time, still have it in their tanks, thinking of what to do with it. And I am sure some of them borrowed from banks. “So for us to say that what is happening in the world will not affect us is over simplifying the issue.” Akingbola, who is also the Group Chief Executive, Intercontinental Bank Plc, however, said that the Nigerian banking sector was lucky to have a central bank governor who understood his duty, adding that the Governor of the Central Bank of Nigeria, Prof Chukwuma Soludo, had come out proactively ahead of time to caution the bankers on the current happenings in the stock and oil markets. Akingbola noted that all Nigerian banks were solid, saying that “if we have 24 banks, 18 are very solid while the remaining ones are also super banks.” He said, “The CBN Governor said that any bank that has liquidity problem can bring its loan and get some money so that life can go on afresh. That reassurance affects the inter-bank market because banks now know that there is an alternative. “The banking public now knows that the CBN is supporting their banks, so there is no panic, unlike what happened in the United Kingdom. If people should line up at the same time to collect their money from a particular bank, that bank will surely go down. So, I think CBN has come out with the right action.” Speaking on the crisis in the capital market, Akingbola said it was a normal situation everywhere in the world but that it was strange to Nigerians because they had always believed that once anything went up, especially prices, it should never come down. He said, “Nigerians never believed that stock market prices would ever come down. For a very long time, playing in the stock market was like picking money on the road. “Drivers, security guards, everybody was investing in the market and they were making 100 per cent profit. They could not believe it was happening in Nigeria only for them to wake up to the rude shock that what was being priced at N40 had suddenly come down to N15.” According to him, “When prices go up, you sell and take your profit, because there will be a rush for a lot of people to take profit. Once supply is more than demand, prices will come down but when it gets to the point we are approaching now, people go out to buy again. And when they start buying, the prices go up again and people take profit. That is how the market is all over the world.” He, however, advised that people should get their funds ready to buy stocks because of a possible rebound in the next two weeks. Punch And for the green-highlighted portion above,hmmm I'd say a big Amen and hope y'all will listen to prophet Akingbola |
| Re: Stock Market Tips For Nigerians by akininNC(m): 2:38am On Nov 06, 2008 |
quote "According to him, “Eventually, I am sure the crisis will trickle down here because even if the product that has caused them problems abroad was never sold here, because they are in trouble now, they are reducing all the lines of credit they used to make available to Africa". How low does the stock market have to go before he realizes that it has trickled down to Nigeria? |
| Re: Stock Market Tips For Nigerians by MrRisky: 11:59am On Nov 06, 2008 |
THIS PAGE IS THE "BEAREST" PAGE in the history of Nairaland, and to add to that we have a "bearish" government too! What a bearish year 2008 has become! There is hope though, as the market is gradually become sane at last! |
| Re: Stock Market Tips For Nigerians by husu(m): 1:05pm On Nov 06, 2008 |
where una dey? i don start ooo!!!!!!.@ this point,some will start chasing the moving train, even the 600billion will fall out by force from banks for buy back.But i doubt they may not see any stock to buy.Long Live NSE!!!!!!!!! |
| Re: Stock Market Tips For Nigerians by akininNC(m): 3:57pm On Nov 06, 2008 |
Looks like the market is starting to show some signs of recovery. IMHO, most of the downward trend in the market was because of all the new investors that came aboard in the last couple of years, they got spooked very easily. The market is a long term investment and not a get rich quick scheme. Hope people have learned their lesson. Most of these companies still have strong fundamental and will rebound in the long run. |
| Re: Stock Market Tips For Nigerians by DisGuy: 7:00pm On Nov 06, 2008 |
what's is happening with the share-buy back scheme/law this is probably the best time the companies can buy back their shares |
| Re: Stock Market Tips For Nigerians by naijaking1: 10:21pm On Nov 07, 2008 |
Does anyone know about Finmal Financial Services Ltd? It's a stockbrokerage firm recommended by my cousin in Nigeria. |
| Re: Stock Market Tips For Nigerians by beginner: 4:13pm On Nov 09, 2008 |
Father of 2, haba, how much notice do you need to give father now. Stock market don open again o. Abeg leave catholic church alone o. No miss this awof sale o. I remebered selling FCMB at 19.5 and bought on Friday at 6.27. Even Lasaco na 1.29 and Oceanic 12.34. I wish resources are unlimited. |
| Re: Stock Market Tips For Nigerians by bivins1(m): 8:13pm On Nov 09, 2008 |
beginner:beginner you think say Fof 2 still dey seminary? the guy don buy before u . he go appaer wen he don sell finish |
| Re: Stock Market Tips For Nigerians by LondonCool(m): 5:27pm On Nov 10, 2008 |
Has the bear-hug still grappled folks here ? |
| Re: Stock Market Tips For Nigerians by JeopardE(m): 1:13am On Nov 11, 2008 |
Well, they finally came to their senses and realized what was blatantly obvious to anyone with half an economic brain months ago: the 1% circuit breaker was absolute horse crap, and was merely suffocating the market, prolonging the bear trend and decimating volume. Oh look, a bounce. Now the retards over at the Punch newspaper are claiming it's rallying because of Obama. It's because the market was finally allowed to find a support level, dumbasses. Hooray for (relatively) free markets once again. Now they need to get down to business and start doing what they really need to do to stimulate this capital market: banish individual stock circuit breakers completely (even this 5% business is horse crap), and replace them with index-based circuit breakers to arrest massive impulse moves. It's OK if a single stock goes to hell if the company itself craps out. That's the beauty of a free market. What you should be concerned is if the entire market goes to hell at once. Then once they've figured out how to properly use circuit breakers, they can start focusing on moving the market out of the 18th century, installing modern ECNs and deploying financial instruments that can help facilitate price discovery and improve capitalization through derivatives. At the very least, give us short selling and options. |
| Re: Stock Market Tips For Nigerians by Nobody: 3:27pm On Nov 11, 2008 |
@ALL i am still waiting for my cert and returned monies from the last po and ipo of the following coy,please i like to know if there is anyone in the same situation as me pls or advice from all bagco zenith bank access bank |
| Re: Stock Market Tips For Nigerians by Nobody: 3:29pm On Nov 11, 2008 |
@ALL i am still waiting for my cert and returned monies from the last po and ipo of the following coy,please i like to know if there is anyone in the same situation as me pls or advice from all bagco zenith bank access bank |
| Re: Stock Market Tips For Nigerians by FatherOF2: 4:47pm On Nov 11, 2008 |
beginner: I still dey write seminary exam, na friday we go finish. Na after friday profit takers go reappear. Na d reaction wen follow profit takers i wan see next week. |
| Re: Stock Market Tips For Nigerians by akininNC(m): 6:59pm On Nov 11, 2008 |
Not to jump the gun but the market had another good today, hopefully this is the start of sunny days ahead! |
| Re: Stock Market Tips For Nigerians by walcolm(m): 11:48am On Nov 12, 2008 |
euromilion: it's only bagco return money and Zenith PO shares are still outstanding for me but the bagco shares have hit my CSCS and i have received the zenith return money. i dont live in lagos but if you do, you might want to pay first and zenith registrars a visit |
| Re: Stock Market Tips For Nigerians by Nobody: 1:32pm On Nov 12, 2008 |
@walcolm thanks man it feel's good knowing that am not alone,i have not recieved any dough from zenith and bagco although i got some back with access,am not in 9ja but i have sent numerous emails to all the above registrars but no reply,what a disgrace.thanks again buddy for ur time. |
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