MarketWatch

[wanaj0]

Originally Posted by BLUEMONEY

I dont expect the Bank to solve the problem of everyone because even the Government cannot do that. what I am saying is that they should not add to the problem by releasing misleading figures and should do all they can to make Borrowing Attractive to Small Business owners in the Real Sector

Why do they keep telling us that they have pumped Trillions into the Real Sector when we are not seeing the effect in the Sector ?????

The Six Points you raised above are very Thoughtful but even when a small Business Owner meets those Requirements, is the interest rate been charged by the bank friendly ????? No it is not.

The Small Business Owners that cannot met some of those Requirements are sometimes refered to Micro-Finance Banks which according to Prof Soludo is meant to Empower the Grassroot. But right now I can tell you that the Purpose of MFB is almost defeated because those in the Grassroot that take loans from these MFB are the ones Empowering the Banks.

I Have been Observing this trend for sometime but saw an Example of the Abuse of the Purpose of MFB the last time I was in Warri. The MFB in Question collected thier Money from one the Mega Banks at a high interest rate to do business with a group of small business owners.

When they got to the MFB and having meet thier Requirements, they were told that the interest rate is 35% and that they should be paying on a monthly basis without Default or Else.....

Some of the Business Owners did not Collect the Loan because they knew that there is no way they can make head way but some did collect the loan. The Last I heard of those that took the loan was that they Defaulted and the MFB is after them seriously because they are not making any meaningful progress.

So MFB which is meant to be the Lifeline of Business People in the Grassroot is Fast Becoming A ''Monkey Dey Work, Baboon Dey Chop Bank" .

I understand your frustration.

Lending rate is a the deposit rates (interest rate) plus the lenders margin plus the risk factor.

The risk associated with small business owners is considered high so they will pay a higher interest rate.

On the CBN site, there is a presentation by Soludo on the interest rate in the Nigerian environment.

When you look at it from the banks perspective, you will understand what they go through. Banks provide their own security and infrastructure and all these costs get passed on to those who are borrowing.

If we want interest rate to go down, certain thinsg about the country got to be fixed. Imagine the generators in all the bank branches and the diesel cost of fueling them. Who pays for that inefficiency?

[Babs_O]

Foreign Investors see capital market recovering to $100 billion



Foreign investors, including portfolio and asset managers, meeting in London yesterday predicted the capitalisation of the Nigerian Stock Exchange, which now stands at between $60 billion and $70 billion will recover and quickly rise to $100 billion once the current downward climate comes to an end. They also showed their growing appetite for opportunities in Nigeria by demanding that the Federal Government moves to introduce a global dollar bond to the international financial market. Such a bond will enable Nigeria raise much needed funding for key infrastructure projects.Hendrik du Toit, chief executive officer, Investec Asset Management, said the Nigerian capital market remains lucrative and is being keenly observed by international investors who are always looking to take positions when sentiments become right again. The Nigerian market has only suffered like other emerging markets following the global financial crisis, du Toit said. But Nigeria needs to position itself by thinking differently to ensure that the economy continues to attract private capital and foreign direct investments (FDI).



Source: Businessday Newspaper

[wanaj0]

Originally Posted by Babs_O

Foreign Investors see capital market recovering to $100 billion



Foreign investors, including portfolio and asset managers, meeting in London yesterday predicted the capitalisation of the Nigerian Stock Exchange, which now stands at between $60 billion and $70 billion will recover and quickly rise to $100 billion once the current downward climate comes to an end. They also showed their growing appetite for opportunities in Nigeria by demanding that the Federal Government moves to introduce a global dollar bond to the international financial market. Such a bond will enable Nigeria raise much needed funding for key infrastructure projects.Hendrik du Toit, chief executive officer, Investec Asset Management, said the Nigerian capital market remains lucrative and is being keenly observed by international investors who are always looking to take positions when sentiments become right again. The Nigerian market has only suffered like other emerging markets following the global financial crisis, du Toit said. But Nigeria needs to position itself by thinking differently to ensure that the economy continues to attract private capital and foreign direct investments (FDI).



Source: Businessday Newspaper

Useless people. They will create a bubble again followed by a BURST. BEWARE

[despi_dynasty]

Originally Posted by wanaj0

Useless people. They will create a bubble again followed by a BURST. BEWARE

You've said it all.

One need to get tuned to this forum to know how to get go this market. Especially during the freefall era and now that it is recovering. In fact, all that happened to our market is a lesson none of us will ever forget. Those that had ever witnessed a downfall like the just-about-to-pass downfall some how escaped it. It crippled only the new legs that stepped over it. Just like I myself. Although it had just started becoming a testimony nowadays.

Well, lets just keep trading.

[kenebobo]

Originally Posted by zainabusman

For the first time in 43 trading days the Index went up closing at 33,873. This is a 0.35% rise above previous day.

Wow it is so nice to see that the bulls are back. we better find rope and tie it so that it doesnt run away . At a point in time I almost thaught that the stocks would never rise.

[citizen]

Obama’s victory triggers market rebound
By Ifeanyi Onuba
Published: Thursday, 6 Nov 2008
Activities on the Nigerian Stock Exchange picked up significantly on Tuesday in what appeared to be a positive response to Senator Obama’s victory in the United States’ Presidential polls.

Skip to next paragraph

Agency
Barack Obama

Since September 23, 2008, when 10 companies recorded price appreciation, the number of price gainers had not exceeded five.

But at the close of trading activities on Wednesday, the total number of companies that recorded upward price movements stood at 20.

While Nigerian Breweries Plc added N1.55 to its share price to top the price gainers chart, three bank stocks – First Bank of Nigeria Plc, Stanbic IBTC Bank Plc, and Skye Bank Plc – followed, appreciating by 96 kobo, 42 kobo and 40 kobo to close at N20.16, N8.96 and N8.43 per share in that order.

On the other hand, 54 stocks depreciated in price, lower than 68 the preceding day, with Chevron Oil Nigeria Plc dropping by N17.25 to close at N327.79 per share.

Guinness Nigeria Plc and Flour Mills Plc followed with N3.69 and N2.84 losses to close at N73.96 and N54.08 per share respectively.

The banking sub-sector, however, continued its dominance on the activity chart, accounting for 51 per cent of total turnover.

It traded 118.593 million shares, valued at N1.144bn in 3,150 deals, representing a volume decrease of 3.5 per cent from 114.919 million shares, valued at N1.071bn traded the preceding day in 3,730 transactions.

Unlike the previous day when the shares of Spring Bank Plc drove the sub-sector’s turnover, Access Bank Plc’s shares boosted volume in the sub-sector, accounting for 31 per cent of turnover.

It traded 37.356 million shares, valued at N256.831m in 398 deals.

The insurance sub-sector followed on the activity chart, trading 64.660 million shares, valued at N65.994m in 555 transactions.

This represented a volume increase of 333 per cent over 14.707 million shares, valued at N23.383m exchanged the previous day in 436 deals.

The shares of Investment and Allied Assurance Plc boosted volume in the sub-sector with 40.723 million shares, valued at N22.397m in 35 deals.

The market capitalisation of the 303 listed equities decreased by N127m or 1.7 per cent, from N7.531bn on Tuesday to N7.405tn.

Similarly, the All-Share-Index of the Nigerian Stock Exchange dropped by 1.7 per cent from 34.327.64 to 33.754.11.

[citizen]

Arethese hedge funds back because of a greater focus on Africa from the next US administration or they are going to do like GEORGE SOROS ET AL.
Put money in and leave when we least expect--- With a handsome profit of course.


REMEMBER FOLLOW GOOD DIVIDEND/BONUS YIELDING STOCKS = DSR,GTB,IEI,FBN,........ UBA,OCEANIC(FRINGE)

[citizen]

Market Momentum continued strong.







The euphoria in the market which caused more stocks to experience price appreciation yesterday continued today as most of the stocks enjoyed investors’ patronage and closed on net bid. The All Share Index increased by 35 basis points to close at 33,872.69 and the ratio of decliners to advancers closed at 1:1.4. Volume and value of transaction grew significantly by 237.63% and 241.02% respectively.







Banking sector stocks lifted the activities in the market as it traded 516million units which represent 66.17% of total volume traded. 155 million units of First Inland Bank Plc exchanged hands today with over 90% of the volume being block trades.







First Bank Plc released its un-audited second quarter result for the period ended September 30th, 2008. Gross Earnings grew by 45.77% to N96.947 billion; PBT surged by 55.43% to N30.048 billion while Profit after Tax also increased by 55.65% to N23.771 billion compared to N15.272 billion in the corresponding period of 2007. In addition, Dangote Sugar Refinery Plc released its un-audited third quarter result for the period ended September 30th, 2008. Turnover increased marginally by 3.72% to N64.357 billion, PBT grew by 3.92% to N24.738 billion while PAT increased by 3.92% to N18.553 billion from N17.854 billion in the corresponding period of 2007.







The market continued strong in momentum, evidenced by the number of stocks closing on bid, marginal increase in the All Share Index as well as the phenomenal reduction in the number of losers. Activities today confirm that liquidity is gradually returning to the market as well as investors confidence. While it may be too early to determine the extent of the current rally, investors are advised to seek investment opportunities that are supported by strong fundamentals.







Index was down 24 basis pts on 11,368 trades. Average size of trade was US$4,141 with total value of US$47.08m. Market cap closed at US$63.73billion.







Overall, there were 42 gainers and 60 losers and 21 unchanged. The Banking sector led the volume chart followed by the Insurance sector and both accounted for 83.70% of total volume traded.







First Inland Bank traded 155.712 million shares to top the overall volume chart. Other stocks that closed in the top echelon were Universal Insurance Plc, Spring Bank, Fidelity Bank and Access Bank.







* Net Bid: Spring Bank, Diamond Bank, GTB, Custodian Insurance and Access Bank.



* Net Offer: Investment and Allied Insurance, Staco, GNI, Continental Reinsurance and Equity Assurance.



* Top Gainers: UNIC, Diamond Bank, UPL, Prestige and Tantalizer.



* Top Losers: GlaxoSmithkline, Red Star Express, Mobil, Nestle and Conoil.

[hispy99]

Originally Posted by kenebobo

Wow it is so nice to see that the bulls are back. we better find rope and tie it so that it doesnt run away . At a point in time I almost thaught that the stocks would never rise.

chei, you just disappeared and we did not see your break light again...see the wonders of a bull market

[hispy99]

Originally Posted by citizen

Obama’s victory triggers market rebound
By Ifeanyi Onuba
Published: Thursday, 6 Nov 2008
Activities on the Nigerian Stock Exchange picked up significantly on Tuesday in what appeared to be a positive response to Senator Obama’s victory in the United States’ Presidential polls.

Skip to next paragraph

Agency
Barack Obama

Since September 23, 2008, when 10 companies recorded price appreciation, the number of price gainers had not exceeded five.

But at the close of trading activities on Wednesday, the total number of companies that recorded upward price movements stood at 20.

While Nigerian Breweries Plc added N1.55 to its share price to top the price gainers chart, three bank stocks – First Bank of Nigeria Plc, Stanbic IBTC Bank Plc, and Skye Bank Plc – followed, appreciating by 96 kobo, 42 kobo and 40 kobo to close at N20.16, N8.96 and N8.43 per share in that order.

On the other hand, 54 stocks depreciated in price, lower than 68 the preceding day, with Chevron Oil Nigeria Plc dropping by N17.25 to close at N327.79 per share.

Guinness Nigeria Plc and Flour Mills Plc followed with N3.69 and N2.84 losses to close at N73.96 and N54.08 per share respectively.

The banking sub-sector, however, continued its dominance on the activity chart, accounting for 51 per cent of total turnover.

It traded 118.593 million shares, valued at N1.144bn in 3,150 deals, representing a volume decrease of 3.5 per cent from 114.919 million shares, valued at N1.071bn traded the preceding day in 3,730 transactions.

Unlike the previous day when the shares of Spring Bank Plc drove the sub-sector’s turnover, Access Bank Plc’s shares boosted volume in the sub-sector, accounting for 31 per cent of turnover.

It traded 37.356 million shares, valued at N256.831m in 398 deals.

The insurance sub-sector followed on the activity chart, trading 64.660 million shares, valued at N65.994m in 555 transactions.

This represented a volume increase of 333 per cent over 14.707 million shares, valued at N23.383m exchanged the previous day in 436 deals.

The shares of Investment and Allied Assurance Plc boosted volume in the sub-sector with 40.723 million shares, valued at N22.397m in 35 deals.

The market capitalisation of the 303 listed equities decreased by N127m or 1.7 per cent, from N7.531bn on Tuesday to N7.405tn.

Similarly, the All-Share-Index of the Nigerian Stock Exchange dropped by 1.7 per cent from 34.327.64 to 33.754.11.

what has Obama's victory got to do with this market rebound?

[billions]

Originally Posted by Babs_O

Foreign Investors see capital market recovering to $100 billion



Foreign investors, including portfolio and asset managers, meeting in London yesterday predicted the capitalisation of the Nigerian Stock Exchange, which now stands at between $60 billion and $70 billion will recover and quickly rise to $100 billion once the current downward climate comes to an end. They also showed their growing appetite for opportunities in Nigeria by demanding that the Federal Government moves to introduce a global dollar bond to the international financial market. Such a bond will enable Nigeria raise much needed funding for key infrastructure projects.Hendrik du Toit, chief executive officer, Investec Asset Management, said the Nigerian capital market remains lucrative and is being keenly observed by international investors who are always looking to take positions when sentiments become right again. The Nigerian market has only suffered like other emerging markets following the global financial crisis, du Toit said. But Nigeria needs to position itself by thinking differently to ensure that the economy continues to attract private capital and foreign direct investments (FDI).



Source: Businessday Newspaper

Guys,make u leave them.If dey think dey can come in, make 200% in 2 yrs then press d exit button to destroy long term investors...they shd forget it.Na dem go loose dis time around.

We welcome dem.

[zainabusman]

Originally Posted by hispy99

what has Obama's victory got to do with this market rebound?

Exactly. I dont know what is wrong with some of our analyst. They can do better.

[billions]

Originally Posted by kenebobo

Wow it is so nice to see that the bulls are back. we better find rope and tie it so that it doesnt run away . At a point in time I almost thaught that the stocks would never rise.

Kenebobo,wetin dey happen?

It is when we see the bulls that we see you.Abi u be bull?

I pray dat dis reversal will lead to a complete market recovery,amen.

[zainabusman]

Originally Posted by billions

Kenebobo,wetin dey happen?

It is when we see the bulls that we see you.Abi u be bull?

I pray dat dis reversal will lead to a complete market recovery,amen.

Amen. But it will be a long road to recovery. To get back to where we were in March the Index has to gain 95% plus! A tall order. But i guess we will get there someday one step at a time!