Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,200,897 members, 7,976,370 topics. Date: Wednesday, 16 October 2024 at 06:48 AM |
Nairaland Forum / Nairaland / General / Investment / Nigerian Stock Exchange Market Pick Alerts (11691063 Views)
Nigerian Stocks To Buy - 2024 Best Performing Stocks / Free Stock Market Pick Alert For All Investors Globally!!! / Dangote Resumes As President Of Nigerian Stock Exchange (2) (3) (4)
(1) (2) (3) ... (5863) (5864) (5865) (5866) (5867) (5868) (5869) ... (8284) (Reply) (Go Down)
Re: Nigerian Stock Exchange Market Pick Alerts by gabscity(m): 10:37pm On Jul 13, 2020 |
seyisanya: I mentioned this sometime ago, some people here said it wasn't true. Morgan has a poor customer service! They will soon loose many clients! |
Re: Nigerian Stock Exchange Market Pick Alerts by Tvegas(m): 11:08pm On Jul 13, 2020 |
gabscity:I sent Morgan Capital a mail for a reduced transaction fee because of volume of transaction i plan to do with them about 2 weeks ago, They promised to get back and till now Morgan hasn't said anything. I sent a follow up mail there was no response. Over the weekend I opened another account with Meristem, the customer service experience has been top notch. My Conclusion: Morgan has made money or has money right now hence they don't need your kobo kobo deposits .Their live trading platform still seems better though but pride goes before fall. They need to watch it. Meristem Customer service is in a world of its own. If they maintain those quick responses they will go far . 4 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 11:11pm On Jul 13, 2020 |
Multiplier7: |
Re: Nigerian Stock Exchange Market Pick Alerts by austinkenneth: 5:56am On Jul 14, 2020 |
Tvegas:What kind of lower commission can I possible negotiate? |
Re: Nigerian Stock Exchange Market Pick Alerts by ojeysky(m): 6:03am On Jul 14, 2020 |
Tvegas: It's why I stick with them, though way more expensive than Morgan but it's a worthwhile cost for good customer service. I am going through a merger which has some missing stocks issues and they've been following up with CSCS including calling me to provide update or get clarity on some of my historical stock data |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 6:48am On Jul 14, 2020 |
Tvegas: That will mean taking the rates to around 415. We will see how it goes. With global stocks attaining all time highs, any run on these developed markets will still have much greater effect on Naira. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 6:54am On Jul 14, 2020 |
robobo: Maybe Meffy is holding back so that he will devalue once rather than doing it many times down the line. Meffy may have seen the handwriting on the wall about developed markets. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:00am On Jul 14, 2020 |
zimams: There are lots of underpriced opportunities on NSE. Anyway NSE is moving at a slow pace along side the our economy unlike those in EU and US that are skyrocketing and causing a sharp disconnect between the real economy and the stock market. This is could cause a bubble in the developed markets. The bull on NSE seems to have an underlining health conditions. Doc Ukay, come and diagnose o. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 9:04am On Jul 14, 2020 |
IYGEAL: Thanks. |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 9:09am On Jul 14, 2020 |
RabbiDoracle: Also, take into consideration the Sociopolitical environment. Investors don't trust the government anymore. Every man for himself. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 9:35am On Jul 14, 2020 |
RabbiDoracle: That is exactly what they dont want him to do hence d debacle, what they want is free float and Oga Buhari (not even meffy) is very abhorrent to that on a purcahsing power parity d naira wld be fairly priced between 380 -- 420, considering that the Naira is already at the tail end of this spectrum, one wld have assumed that the FPI should be coming in by now but that is not the case which means they want more (Egypt 2016 comes to mind). i think both party (Nigeria vs FPI) wld eventually settle for the middle ground i.e. a single rate for all markets but which is being managed by CBN by being the MM in that market. Hw soon that wld happen is what i cant say because the CBN wld need a large war chest (circa 40 - 45b reserve) to effectively play MM for a single market which they dont currently have. i doubt if the FPI wld come in until that middle ground is achieved. So this current consolidation might go on for a long time and even has a higher probability of spurring a downtrend if it lingers for too long (though not like that seen in March) 3 Likes 2 Shares |
Re: Nigerian Stock Exchange Market Pick Alerts by zimams: 10:06am On Jul 14, 2020 |
RabbiDoracle: |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:06am On Jul 14, 2020 |
robobo: The simple solution is for the CBN to ease the FX restrictions,, by allowing owners of FX remittance to get their funds in the foreign currencies and not Naira. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 10:23am On Jul 14, 2020 |
OBAGADAFFI: my Oga that soultion is not that simple where is the FX to give them? OMO maturity btw April and June was of $6b, if as data suggested that FPI constitute the bulk in that (OMO) market place up to as much as 60% then it can safely mean abt $3.6b want to leave d country (that is not counting other markets oooo e.g. Stock ) you wld be talking abt $4 - $4.5b that want to leave. the sales in IEW window btw same period was $900m -- $1b taking the two together you wld have a net of $3 -- $3.5b FPI funds trapped. THE $3.5b above excludes the need of other FX users (importers / fuel / debt service e.t.c) My Oga if all above is taking together CBN wld need to find abt $10b, if u take $10b out of current reserve it wld give you $25b left of which some component of the remaining $25b is illiquid due to several factors e.g. swap lines / gold holding e.t.c) then you are looking at $15b liquid left which is barley able to cover 2 months of imports. My Oga if above plays out (i.e. giving them the remittance as you stated) there wld be a massive run on the Naira and by then i doubt if anything of wld be left of the NSE that we currently play. so you see CBN is caught between two hard rocks and it is just doing its best till inflow (post covid / higher oil price) wld allow it to better manage situation 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:40am On Jul 14, 2020 |
robobo: Diaspora remittance is one of the big sources on FX in Nigeria. Pre-2015 CBN restrictions most Nigerians don't need CBN form M to get FX. You get you FX from Western-Union etc, and trade it with anyone, so we have surplus FX in circulation. Now Diasporans don't send much FX anymore, since the CBN is hoarding it. These CBN restrictions created the current FX crises. FX business is demand and supply. What we are experiencing is a supply problem. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:51am On Jul 14, 2020 |
STERLING people howfar |
Re: Nigerian Stock Exchange Market Pick Alerts by PharmAlfred: 10:55am On Jul 14, 2020 |
Tvegas: I agree with you. Though I use Morgan. One time, I had issues to sort with Meristem, the service was top notch. Follow up calls and timely delivery. When they promise you a deadline, they try to fulfill it. |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 10:56am On Jul 14, 2020 |
OBAGADAFFI: My Oga this Diaspora funds is overrated Forget abt the futuristic figure qouted by PWC which was latched onto by politician to score cheap political points werent the Diaspora remittance available before 2016? if so why was it not able to stop / stall all devaluations before then (i.e. b4 2016) CBN placed restrictions in 2016 on remittances because it has become a black hole aiding all sorts of crime (laundering e.t.c.) however the CBN still designed another route for the same remittances inflow to reach retail end user by channeling all inflow via remittance to BDC weekly sales / PTA/ BTA. Anyway we had both agreed on the fact that there is a supply (either through FPI / reduced oil receipt as I stated or via Remittances as u stated) problem which if not resolved wld continue to impact negatively on NSE 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 11:16am On Jul 14, 2020 |
robobo: Diaspora remittances which constitutes one of the major weighting of FX inflow(after oil revenue), is I think, what @ Obagadafi is referring to. The CBN need not fund such plays... it only needs to ease the management constraints in that window of inflow and I can authoritatively tell u that at least 30-40% of our Fx shortfall/need will be covered. Globally, Diapora remittances is one of the pivotal determinant to maintaining the demand-supply balance in Fx transactions. If Chima, Osita, Ahmed and Kabiru sends $25,000 each from the abroad and their families can't access the funds and sometimes strugle to get their Fx equivalents/naira from the banks(often @ a discount to parallel mkt rate), then u'd naturally expect that supply would be bridged over demand. If a part of that collective of $100,000 sent by all 4 persons were easily accessible(without Naira conversion) then of course some of those funds would find their way to the market and help ease demand. It might interest u to know that the total value of diaspora remittances has sometimes, exceeded the country's yearly budgetary peg. Imagine if some of these Fx regulations aren't in place. There are lots to say, but if u understood matters to this point then u'd agree that the Fx challenge in Nigeria is not about supply(higher demand) but about SUPPLY MANAGEMENT brought about by several unorthodox policies(restrictions) and bad governance from the fiscal end. This has over time, created that disconnect where demand continues to overshadow supply. Let's hope that we shall overcome this in due course. Selah 1 Like 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by GonFreecss1: 11:19am On Jul 14, 2020 |
OBAGADAFFI: Wrong sir. Diaspora? How much can they send? The only thing saving us is and has always been crude oil. In 2018 alone we spent 44 billion USD saving the naira, how much do Diaspora people want to send to cover that? 1 billion? 2? This is the reason I called a bear on the NSE then and I was right when many here were arguing. What happened last last? Let us pray Crude oil prices don’t drop further or coronavirus situation doesn’t become sticky, else... the man called “robobo” above has described things well. It won’t be funny at all. |
Re: Nigerian Stock Exchange Market Pick Alerts by megawealth01: 11:20am On Jul 14, 2020 |
We dey OBAGADAFFI: |
Re: Nigerian Stock Exchange Market Pick Alerts by GonFreecss1: 11:20am On Jul 14, 2020 |
robobo: You have said it all perfectly sir. In Nigeria you can’t only be looking at Financial statements. Studying the economics of it all, is a must. |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 11:30am On Jul 14, 2020 |
onegentleguy: Exactly, diaspora remittances were actually plugging the hole in FX supply. Before now most, importers don't need form M because they are going FX from their partners and export business. |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 11:33am On Jul 14, 2020 |
GonFreecss1: My Oga it is not only a must Sir. it shld even be d first thing b4 u start spreading / analysing financials becos it is the Macro that direct the flow of figures in those financials you want to spread / analyse. That is why the NSE is not dancing to the global surplus liquidity fueled rally as Oga Rabbi had been expecting. All said however i just pray dey find a solution to the FX debacle quickly becos na their (NSE) my garri dey. no be for all this grammar wey i dey blow since 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 11:46am On Jul 14, 2020 |
robobo: GonFreecss1: You are not going the bigger picture. All these FX burden CBN is carrying is unnecessary if they had allowed owner of FX remittance to get their FX, not Naira. Most Companies and individuals formally get their FX from various export businesses and other FX remittances. But they are now forced to source FX through CBN form M or the black-market at higher rates. Nigeria receives $17.5 billion diaspora remittances in 2019 https://nairametrics.com/2020/01/11/nigeria-receives-17-5-billion-diaspora-remittances-in-2019/#:~:text=Remittances%20are%20funds%20transferred%20from,source%20of%20much%2Dneeded%20funds. Nigeria received $96 billion diaspora remittances inflow in 6-years https://nairametrics.com/2019/10/11/nigeria-received-96-billion-diaspora-remittances-inflow-in-6-years/ 1 Like 2 Shares |
Re: Nigerian Stock Exchange Market Pick Alerts by stcool(m): 12:01pm On Jul 14, 2020 |
DAY 3 OF HUGE VOLUMES ON STERLING BANK Over 120 Million units of sterling changed hands....via cross deals |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 12:03pm On Jul 14, 2020 |
https://businesspost.ng/economy/forex-crisis-erisco-foods-folds-sacks-1500-workers/?nonamp=1&=1 “My business has been deliberately frustrated by the way the CBN has managed forex bidding and allocation. “They won’t give us forex to import machinery, machine spare parts and raw materials for processing Nigerian fresh tomatoes into paste in our Lagos factory and they won’t give us approval to use our own money (about $460,000) generated from our foreign operations to import our raw materials. robobo GonFreecss1 onegentleguy 1 Like 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 12:04pm On Jul 14, 2020 |
OBAGADAFFI: My Oga i have told you to take all this remittance reports with a pinch of salt. All the reports are resting on a survey / publication done by PWC which in itself had been questioned on the definition it ascribe to Remittance. For example the remittance reffered to by PWC in its report include non oil export proceed (and is even the largest contributor) which is outside the scope of Diaspora Remittance, and this non oil export proceed is even presently part of IEW market. the other leg of which could rightly be defined as Diaspora remittance (i.e. money sent by Chukwudi/ Adebola / Abdulrahman) as stated by Oga OGG via western union / moneygram e.t.c are not that big circa less than $5b annually, this also is currently on the table becos it is dollars proceed from such remittance that pre covid CBN channeled to BDC weekly sales / PTA / BTA. So on a bigger picture like you said all part of the remittance are already in the market place But as a said in my last post why pre 2015 all the so called remittances werent able to stop / stall devaultions? why do the FPI catch cold once oil price go south, if the so called remittance is of such big impact on the FX plays in Nigeria las las make we pray make dem (CBN) sort / solve the FX problem quick so that some of those global liquidity can find its way down to NSE, becos na thier my own garri dey |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 12:06pm On Jul 14, 2020 |
robobo: https://businesspost.ng/economy/forex-crisis-erisco-foods-folds-sacks-1500-workers/?nonamp=1&=1 And why is CBN not allowing Erisco Foods to use his FX? “My business has been deliberately frustrated by the way the CBN has managed forex bidding and allocation. “They won’t give us forex to import machinery, machine spare parts and raw materials for processing Nigerian fresh tomatoes into paste in our Lagos factory and they won’t give us approval to use our own money (about $460,000) generated from our foreign operations to import our raw materials. robobo GonFreecss1 onegentleguy 1 Like 1 Share |
(1) (2) (3) ... (5863) (5864) (5865) (5866) (5867) (5868) (5869) ... (8284) (Reply)
Viewing this topic: DrAwo(m), KarlTom, Mills55, IamR and 6 guest(s)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 102 |