...and the manipulative pranks and plays aimed at shaking off the weak hands continues !!
Trust the smart fellows to know how to play this to their advantage.

It's a beautiful Friday !!

Intendy:
A TOTAL OF 348,027,267 UNITS OF CUSTODIAN INVESTMENT PLC WERE DONE AS OFF MARKET TRADE YESTERDAY 9TH OCTOBER, 2019 AT N7.25 IN A SINGLE DEAL. IT WAS A NEGOTIATED DEAL BETWEEN TELLIMER CAPITAL LIMITED (SELLER) AND STANBIC IBTC STOCKBROKERS (BUYER).

onegentleguy:
...and the manipulative pranks and plays aimed at shaking off the weak hands continues !!
Trust the smart fellows to know how to play this to their advantage.

It's a beautiful Friday !!

What you see is what you get

Agbalowomeri:


What you see is what you get

The more you look the less you see...

Coolcash1:


The more you look the less you see...

Too early for dirty eye on Friday

Its another Friday again: 2 weeks of money making opportunities wasted by A.G. Leventis holders.
Jijoists, I feel your pain.
Some MM's need to be sacked!

OakPearl:
Its another Friday again: 2 weeks of money making opportunities wasted by A.G. Leventis holders.
Jijoists, I feel your pain.
Some MM's need to be sacked!

Because dem come count bridge for Lagos ba
This is Naijiriya

Happy married life to His Excellency
President Muhammadu Buhari
Make una enjoy small green today for Bubu

onegentleguy:


The pricing methodology(movement) of quoted coys are hinged on their market value relative to volume.
In the NSE, price bands(OHL) is dependent on the category of stock involved.

By convention;
• For stocks in categories A (coys that are trading at >/= 0.20k but </= N5), u need a single block volume trade of at least 100,000 unit to capture the intraday high or low on the trade book.
• For stocks in categories B (coys that are trading at >/= N5 but </= N100), u need a minimum volume of 50,000 units.
and...
• For stocks in categories C (coys that are trading at >/= N100 and above), u need a minimum volume of 10,000 units.

It's important to note that these rules are continuously been reviewed and where necessary, amended in line with market dynamics and standards, as set out by the regulatory bodies.(NSE, SEC etc)

I think i've once put out a similar post on this in the past.

Hope its clearer now?

In accordance with the part in bold, this rule has now been CHANGED/REVISED, following a review of the requirement to pricing methodology in the NSE.

With the new amendment, the minimum trade quantity now required to capture a change(on the tradebook) in price(s) for equity securities shall henceforth be one hundred thousand(100,000) units for all 3 equity category groups(A, B and C) on the Exchange.
The implementation of the new rule took effect today(Friday), October 11th, 2019.

Pls do well to be guided accordingly.

Regards.

Agbalowomeri:



Because dem come count bridge for Lagos ba
This is Naijiriya

Tiri gboza for the bridge counters then.

onegentleguy:


In accordance with the part in bold, this rule has now been CHANGED/REVISED, following a review of the requirement to pricing methodology in the NSE.

With the new amendment, the minimum trade quantity now required to capture a change(on the tradebook) in price(s) for equity securities shall henceforth be one hundred thousand(100,000) units for all 3 equity category groups(A, B and C) on the Exchange.
The implementation of the new rule took effect today(Friday), October 11th, 2019.

Pls do well to be guided accordingly.


Regards.

The smart ones should know how to 'live with' this new amendment.
...I can't fit shout !!

onegentleguy:


In accordance with the part in bold, this rule has now been CHANGED/REVISED, following a review of the requirement to pricing methodology in the NSE.

With the new amendment, [b]the minimum trade quantity now required to capture a change(on the tradebook) in price(s) for equity securities shall henceforth be one hundred thousand(100,000) units for all 3 equity securities/category groups(A, B and C) on the Exchange.
The implementation of the new rule took effect today(Friday), October 11th, 2019.[/b]

Pls do well to guided accordingly.

Regards.

OakPearl:
Who do A.G. Leventis shellholders this kind strong thing?
Wasting away weeks of full bid without price movement!
Don't they have MM's? Or at least trade 100k units out of the 127m bids daily.

Dont mind A.G. Leventis holders and MM's who want price change with only 1,200 shares traded all day.

onegentleguy:


The smart ones should know how to 'live with' this new amendment.
...I can't fit shout !!

One clue;

Liquidity boost for small and "semi-priced-medium" cap stocks.
...and then "the new toast in town"
...and some liquidity concern for large cap coys.

If u know, u know.

onegentleguy:


In accordance with the part in bold, this rule has now been CHANGED/REVISED, following a review of the requirement to pricing methodology in the NSE.

With the new amendment, the minimum trade quantity now required to capture a change(on the tradebook) in price(s) for equity securities shall henceforth be one hundred thousand(100,000) units for all 3 equity category groups(A, B and C) on the Exchange.
The implementation of the new rule took effect today(Friday), October 11th, 2019.

Pls do well to guided accordingly.

Regards.

Why are they changing rules upandan?
Dem wan slaughter our bull ni?

onegentleguy:


One clue;

Liquidity boost for small and "semi-priced-medium" cap stocks.
...and then "the new toast in town"
...and some liquidity concern for large cap coys.

If u know, u know.

Actually they are unserious
They are always reactive Lol
Could it be due to Dangcem onslaught Lol

Agbalowomeri:


Actually they are unserious
They are always reactive Lol
Could it be due to Dangcem onslaught Lol

If they reacted due to DangCem slaughter, to cushion further downtrend, then they have even made it more difficult for the index to recover faster.

We are watching.

They should have taken a clue from what happened when Ndi-Okereke tried to save the market by adjusting trading rules. It doesn't work!

The faster a stock drops, gets done with it and starts recovery, the better.

Agbalowomeri:


Actually they are unserious
They are always reactive Lol
Could it be due to Dangcem onslaught Lol

Sure u remember Sir Isaac Newtons 3rd law of motion;
To every action, there is an equal...

Why u dey fret urself nah?
...calm down bro !!

Agbalowomeri:


Why are they changing rules upandan?
Dem wan slaughter our bull ni?

"The stock market is like an unending race with plenty of obstacles and more 'virtual than real spectators' running with u.
...but along the way, it ALWAYS rewards those who 'can see through the other side of those obstacles' and run it WITHOUT tiring out."
~Sinclair

"If u want to KNOW if u can SUCCEED in the stock market, then 1st find out where u fall in between SMART, INTELLIGENT and DISCERNING.
...but remember that the market has been CONFIGURED to have and work with all 3 attribute as a collective."
~Sinclair

mendes911:


If they reacted due to DangCem slaughter, to cushion further downtrend, then they have even made it more difficult for the index to recover faster.

We are watching.

They should have taken a clue from what happened when Ndi-Okereke tried to save the market by adjusting trading rules. It doesn't work!

The faster a stock drops, gets done with it and starts recovery, the better.

It needs to he changed to what it is now. 100K units to move any price.

Imagine people buying hundreds of millions naira or billions (naira) of bank shares. This will not move market much. But when someone sells or buys 10K units of Nestle (maybe worth like N12m, it causes the index to fall or rise sharply. This is a distortion!

So for Nestle, Dangote cement, MTN, Airtell, you will need to buy alot (100K in a single offer/bid) or sell alot to distort the index.

Agbalowomeri:


Why are they changing rules upandan?
Dem wan slaughter our bull ni?

Imagine with 10K units of MTN valued at ordinary N1.3m, you move index either 10% up or down.

Whereas GTB could trade N1b on the same day, yet this move on these stocks will affect the index (positively or negatively)

RabbiDoracle:


It needs to he changed to what it is now. 100K units to move any price.

Imagine people buying hundreds of millions naira or billions (naira) of bank shares. This will not move market much. But when someone sells or buys 10K units of Nestle (maybe worth like N12m, it causes the index to fall or rise sharply. This is a distortion!

So for Nestle, Dangote cement, MTN, Airtell, you will need to buy alot (100K in a single offer/bid) or sell alot to distort the index.

@ Oracle, u've got a working brain man !!
...I like ur quick sense of reasoning.

This is similar to what I just put out as a possible reason in one of the telegram financial forum I belong to.
But for anything this new ammendement will help abate the DISTORTION we usually witness with the NSE INDEX when the price of large cap coys(i.e nestle, dangote cement, mtn ng, airtel) rise/drop by pulling small volumes compared to the mid cap coys(i.e gtb, zenith).
...at the very least, rises and fall in the index will now be a much better REFLECTION of market dynamics and realities !!
Its a plus for the financial services and mid-priced-cap coys in the consumer business sector.
One can also relate this to...

By the way, this shouldn't come as a surprise; This was initially the price methodology, before it was reviewed to allow for lower volumes with CATEGORIES B and C class of coys.
It's a great move to return to initial statosquoe !!

Bottomline: It's a right move.

Regards.

RabbiDoracle:


Imagine with 10K units of MTN valued at ordinary N1.3m, you move index either 10% up or down.

Whereas GTB could trade N1b on the same day, yet this move on these stocks will affect the index (positively or negatively)

My worry is the inconsistencies; this rule was only made January 2018 and less than 2 years again it is being amended
What were they smoking? The new rule is what we were using before na

RabbiDoracle:


Imagine with 10K units of MTN valued at ordinary N1.3m, you move index either 10% up or down.

Whereas GTB could trade N1b on the same day, yet this move on these stocks will affect the index (positively or negatively)

Common sense will not kill you !!

RabbiDoracle:


It needs to he changed to what it is now. 100K units to move any price.

Imagine people buying hundreds of millions naira or billions (naira) of bank shares. This will not move market much. But when someone sells or buys 10K units of Nestle (maybe worth like N12m, it causes the index to fall or rise sharply. This is a distortion!

So for Nestle, Dangote cement, MTN, Airtell, you will need to buy alot (100K in a single offer/bid) or sell alot to distort the index.

I understand the implication, but 100k units for stocks like DangCem, Airtel and co seems too high to me.

Well, stagnation, here we come. We die here.

There are positives to this. We could be dying in silence and the index wouldn't reflect much of it.

Stocks with new 52 week lows
Dangote cement #144.20k
Mansard #1.60k
Guinness #29.35k
NB #46.00k

onegentleguy:


@ Oracle, u've got working brain man !!
...I like ur quick sense of reasoning.

This is similar to what I just put out as a possible reason in one of the telegram financial forum I belong to.
But for anything this new ammendement will help abate the DISTORTION we usually witness with the NSE INDEX when the price of large cap coys(i.e nestle, dangote cement, mtn ng, airtel) rise/drop by pulling small volumes compared to mid sized cap(i.e gtb, zenith).
...at the every least, rises and fall in the index will now be a much better REFLECTION of market dynamics and realities !!

Its a plus for the financial services and mid-priced-cap coys in the consumer business sector.
One can also relate this to...

By the way, this shouldn't come as a surprise; This was initially the price methodology, before it was reviewed to allow for lower volumes with CATEGORIES B and C class of coys.
It's a great move to return to initial statosquoe !!

Bottomline: It's a right move.

Regards.

Yes it was how it was long before now. Surprised that they changed it and are now reverting to what it used to be.

Agbalowomeri:


My worry is the inconsistencies; this rule was only made January 2018 and less than 2 years again it is being amended
What were they smoking? The new rule is what we were using before na

I understand you sha. I thought so as well. I think the new rule was in 2018.

RabbiDoracle:


Yes it was how it was long before now. Surprised that they changed it and are now reverting to what it used to be.

Them get sense naw !!
With this, volatility will be curbed as the index shows less of bigger band swing. ...higher than usual fall or rise, particularly in times of lower mkt activity.
...at least some mkt players can now channel their 'energy' elsewhere, and appropriately too.(portfolio redistribution and rebalancing in view)

mendes911:


I understand the implication, but 100k units for stocks like DangCem, Airtel and co seems too high to me.

Well, stagnation, here we come. We die here.

There are positives to this. We could be dying in silence and the index wouldn't reflect much of it.

If there is a sell off, people will dump! They won't care.

onegentleguy:


Them get sense naw !!
With this, volatility will be curbed as the index shows less of bigger band swing. ...higher than usual fall or rise, particularly in times of lower mkt activity.
...at least some mkt players can now channel their 'energy' elsewhere.(portfolio redistribution and rebalancing in view)

The huge swings should go with the money.

Imagine if Dangcem transaction in a day was N10b and market was down(or up) . One guy man will just bring only N1. 45m and move the stock price up (or down ). Small money causing huge swing. This isn't OK.

RabbiDoracle:


I understand you sha. I thought so as well. I think the new rule was in 2018.

Another advantage is that we will now see less of the ichumoku DISTORTED falling index that's been peddled about by Mr Agba !!
...and maybe small small, em go come dey understand our line of thought.