MarketWatch

[ayemco]

Originally Posted by Babs_O

See the full e-lectronic copy of the story. This could get the market south bound from October onwards. Or the interventions etc will counter any possible effect ?


Meanwhile, Nigerian banks that have been picking pockets of facilities from various foreign financial institutions are worried that the development may further escalate.

This is not looking good at all. This wil tighten more the liquidity of Banks in the last quarter. I do not see any new money in the stock Market for a while unless they come up with this Stabilisation fund whatever. God help us!!

[panej]

Originally Posted by muranay@yahoo.com

Extremely bad with just 8000 deals.

Investors are really running away from our market.

somebody somewhere has pressed a wrong button for our market to continue to go down helplessly.

What if this is a "new normal" for the exchange? After all it was at those levels not long ago.

[ayemco]

Originally Posted by ayemco

This is not looking good at all. This wil tighten more the liquidity of Banks in the last quarter. I do not see any new money in the stock Market for a while unless they come up with this Stabilisation fund whatever. God help us!!

this may also create a big challenge for Banks like Access & Intercontinental that have borrowed a lot of Funds from these American Banks (going down)over the last 2 years

[Catweasel]

Originally Posted by ayemco

this may also create a big challenge for Banks like Access & Intercontinental that have borrowed a lot of Funds from these American Banks (going down)over the last 2 years

Other than the two quoted above, do we know of any other Nigerian Banks that are likely to be heavily affected by this recall?

[olusolakemmy]

Originally Posted by ayemco

this may also create a big challenge for Banks like Access & Intercontinental that have borrowed a lot of Funds from these American Banks (going down)over the last 2 years

so american financial crisis will also affect us?

men, have been reading about the effect on asian capital market now it is knocking on our door.

nawaoo

[edunko]

Iam new to this forum, i just join today and i cant find a forum for Afprint, so i decide to come here.

my broker advise me to buy one million of afprint at 5.65 and now i cant find the afprint at NSE list.

I was told that they has been delited

Please what will i do ?

i need the forum help plzzzzz

i cant seat and watch my money going

[knightofdelta]

Originally Posted by olusolakemmy

so american financial crisis will also affect us?

men, have been reading about the effect on asian capital market now it is knocking on our door.

nawaoo

Okay... now we are in it. The crap has finally hit the fan...

[BLUEMONEY]

Originally Posted by ayemco

This is not looking good at all. This wil tighten more the liquidity of Banks in the last quarter. I do not see any new money in the stock Market for a while unless they come up with this Stabilisation fund whatever. God help us!!

Are you talking about thesame Stabilization Fund that has been relegated to the back seat ?????. When they say a policy is suspended in nigeria, then it is also logical to say that it has been buried. These people are very very funny.

[billions]

The index decreased by 0.47%.

[BLUEMONEY]

Originally Posted by edunko

Iam new to this forum, i just join today and i cant find a forum for Afprint, so i decide to come here.

my broker advise me to buy one million of afprint at 5.65 and now i cant find the afprint at NSE list.

I was told that they has been delited

Please what will i do ?

i need the forum help plzzzzz

i cant seat and watch my money going

I Dont think that there is thread for that company yet but it has not been delisted on the NSE. Ten Companies was delisted recently and AFPRINT was not among them.

Quoted Companies

[Babs_O]

Originally Posted by billions

The index decreased by 0.47%.

The rate of decrease seem to have gone further today (0.47%) than yesterday (0.26%). Though not as much as the highest day drop of 0.52% last week wednesday.

[BLUEMONEY]

Originally Posted by Babs_O

The rate of decrease seem to have gone further today (0.47%) than yesterday (0.26%). Though not as much as the highest day drop of 0.52% last week wednesday.

And I dont think it will be long before another record decline is set.

[zainabusman]

Originally Posted by BLUEMONEY

And I dont think it will be long before another record decline is set.

It will take time for us to fall back to the low of 26th August of 43,199 as long as the 1% rule is on. Infact going by the "average" 0.45% daily drop we have been having we will need another 18 straight trading days of decline to reach that.

An interesting thing to note is that a few stocks are getting close to their year low, these include Access, Zenith and FBN.

[zainabusman]

Originally Posted by panej

What if this is a "new normal" for the exchange? After all it was at those levels not long ago.

The last time we had this low value of trades (N2.7 billion) was in 2006. I am very worried about this low level of activity. We cannot get any meaningful recovery until value and volume increase.

[billions]

[quote=zainabusman;31147]It will take time for us to fall back to the low of 26th August of 43,199 as long as the 1% rule is on. Infact going by the "average" 0.45% daily drop we have been having we will need another 18 straight trading days of decline to reach that.

An interesting thing to note is that a few stocks are getting close to their year low, these include Access, Zenith and FBN.[/


Thanks.The information is of great use to me.

[hispy99]

Stock market: ‘Rescue measures necessary, not sufficient’
By Yemi Kolapo
Published: Wednesday, 24 Sep 2008

Capital market analysts have said that recently implemented rescue measures by stakeholders of the Nigerian capital market, though necessary, were not sufficient for quick rebound.

They, however, dispelled insinuations that the persistent bearish trend of activities on the Nigerian Stock Exchange, in spite of the implementation that had taken effect, revealed the ineffectiveness of intervention.

According to them, restoring investor confidence in the market was a major challenge at this point in time.

The Managing Director, Financial Derivatives, Mr. Bismarck Rewane, who agreed that the measures taken so far, even though necessary, were not sufficient to turn the market around, said there would be sufficient conditions once the market witnessed a comprehensive review.

Some recommended measures, which have taken effect include the approved guidelines for share buy back by the Securities and Exchange Commission; the reduction of fees on all transactions by SEC and the Nigerian Stock Exchange, and the offer by various market operators to reduce fees in order to make the market more attractive to investors.

SEC had also released rules for the licensing of market makers, saying that these were dealers with the strength and liquidity to buy and sell securities on a regular and continuous basis.

The CBN, at the end of its Monetary Policy Committee meeting, reduced the Monetary Policy Rate, the rate at which it lends to deposit money banks from 10.25 per cent to 9.75 per cent among other liquidity-boosting measures.

Although the establishment of a capital market stabilisation fund was part of recommended measures, the Minister of Finance, Dr. Shamsuddeen Usman said during a recent press briefing on the activities of the Presidential Advisory Committee on the Capital Market that it would no longer be necessary.

According to him, the measures that have already been implemented by the stakeholders in the industry will provide the necessary stabilisation.

Rewane, however, observed that one could not establish a very direct relationship between monetary policy and capital market activities.

He said that the market transition mechanism was not working sufficiently to pave the way for quick results, noting that the measures were not also sufficient to restore confidence.

“However, there is a time lag between when the policy is announced and when the effects are felt on the market,” he added.

Another stakeholder, who spoke on the condition of anonymity, said the market needed some time to stabilise, particularly as regards the duration of decline.

He said unrepentant panic sellers wer