MarketWatch

[billions]

Originally Posted by wanaj0

Watching IEI and FBN closely. Learnt that Oceanic result is being delayed for CBN approval of its dividend. Relase of Oceanic, GTB and IBTC's result will provide direction. Inters result should also be ready next month. So na to wait till June/July to know the direction to go.

IEI, will bite the bullet on that one. N0.91 even after share reconstruction?

Any idea of what d dividend is?

[yemo]

Originally Posted by hispy99

And another stakeholder's meeting?

But of course! Room bookings Transcorp Hilton! There's also a jewellery shop there that's frequented by "famous names"....

[dayoadebayo]

Market closed


Deals :
6,291


Volume :
2,596,856,865


Value :
N 8,276,276,135.96

[hispy99]

Originally Posted by knightofdelta

It is structured like a hedge fund...

bros no hedge fund charges 5% of capital a month....dis one pass hedge fund!

[knightofdelta]

Originally Posted by hispy99

bros no hedge fund charges 5% of capital a month....dis one pass hedge fund!

Nah, you are not getting it. You get 5% monthly return on capital after a one time management fee of 2%.

[yemo]

Originally Posted by lordgbengss

Its really crazy,the volume at present is wow! sth is definitely going on as u said.

No chart for WEMA. The volumes blew the maximum number of allowable decimal places :-)

Any time you see at least two sets of trades with the same price and volume traded over the course of the mornng raises suspicions though:

NSESymbol Price Trades Volume Value AsOfDate LastModified
WEMABANK 2.85 2 28700 81795 16/04/2009 16/04/2009 11:15
WEMABANK 2.85 13 1992658166 5679075773 16/04/2009 16/04/2009 11:30
WEMABANK 2.85 14 1992663166 5679090023 16/04/2009 16/04/2009 11:45
WEMABANK 2.85 16 2347083753 6689188696 16/04/2009 16/04/2009 12:00
WEMABANK 2.85 17 2347133753 6689331196 16/04/2009 16/04/2009 12:15

[hispy99]

Originally Posted by knightofdelta

Nah, you are not getting it. You get 5% monthly return on capital after a one time management fee of 2%.

ok..fear catch me..even at that most hedge funds charge 20% a year on return on capital after crossing a high watermark

Anyway, enjoy ur loot

[billions]

The index shd be positive today.

[threecrown]

Originally Posted by billions

The index shd be positive today.

Over N6B was spent on Wema bank alone and still declined by 5%. Whats happening?

[lordgbengss]

Originally Posted by hispy99

bros no hedge fund charges 5% of capital a month....dis one pass hedge fund!

Maybe na edge fund,5% is the edge above hedge

[billions]

Originally Posted by threecrown

Over N6B was spent on Wema bank alone and still declined by 5%. Whats happening?

It shd be the transfer of shares from one inst. investor to another inst. investor...they are not buying directly from retail investors.

Nearly 7 billion was spent on wema shares in just 17 deals.

[docjuli]

Originally Posted by hispy99

Maybe my eyes are deceiving me, but NSE is not even a member.

WFE - Member Exchanges

I am "shocked" that a body that would slam the temporary banning of short-selling would condone exchanges adjusting prices to "book value"

http://www.world-exchanges.org/files...2009%20(3).pdf

check it under list of affiliates:

WFE - List of Affiliates

[billions]

The Index increased by 0.22%

[docjuli]

Forbes' World's Biggest Companies (Forbes Global 2000)

FBN, UBA and Intercontinental Bank were the only Nigerian companies included on the list.


The Global 2000 - Forbes.com

[panej]

Originally Posted by yemo

No chart for WEMA. The volumes blew the maximum number of allowable decimal places :-)

Any time you see at least two sets of trades with the same price and volume traded over the course of the mornng raises suspicions though:

NSESymbol Price Trades Volume Value AsOfDate LastModified
WEMABANK 2.85 2 28700 81795 16/04/2009 16/04/2009 11:15
WEMABANK 2.85 13 1992658166 5679075773 16/04/2009 16/04/2009 11:30
WEMABANK 2.85 14 1992663166 5679090023 16/04/2009 16/04/2009 11:45
WEMABANK 2.85 16 2347083753 6689188696 16/04/2009 16/04/2009 12:00
WEMABANK 2.85 17 2347133753 6689331196 16/04/2009 16/04/2009 12:15

Bear in mind that whenever someone is buying, someone is selling; unless the company was approved for additional fund raising by floating more shares.
The most likely scenario is that shares are changing hands between two institutions/fund managers off the floor (which is completely legal) and has to be recorded as a trade on NSE.

[panej]

Originally Posted by docjuli

Forbes' World's Biggest Companies (Forbes Global 2000)

FBN, UBA and Intercontinental Bank were the only Nigerian companies included on the list.


The Global 2000 - Forbes.com

Other companies that could have helped improve Nigeria's standing on that list, like ExonMobile, Total, etc. are already counted under other countries. Bigger doesn't mean better these days anymore. Remember GM, AIG, Citigroup, etc....

[zainabusman]

Originally Posted by panej

Other companies that could have helped improve Nigeria's standing on that list, like ExonMobile, Total, etc. are already counted under other countries. Bigger doesn't mean better these days anymore. Remember GM, AIG, Citigroup, etc....

The holding company Exxon Mobil, Total etc are listed on their host country exchanges. Some have dual listings. Their Nigerian subsidiaries are wholly owned and so cannot be listed. However, Total Nigeria PLC, Mobil, Chevron which are not wholy owned are listed under Petroleum Marketing.

[yemo]

Originally Posted by panej

Bear in mind that whenever someone is buying, someone is selling; unless the company was approved for additional fund raising by floating more shares.
The most likely scenario is that shares are changing hands between two institutions/fund managers off the floor (which is completely legal) and has to be recorded as a trade on NSE.

Ok. I take your point. Wemabank seemed to be the exception though cf [Market Open Prices 16 Apr 2009.xls]...
...unless two or more sellers (or buyers) contributed to another trade

30 Day Price Vol Wema..

[panej]

Originally Posted by yemo

Ok. I take your point. Wemabank seemed to be the exception though cf [Market Open Prices 16 Apr 2009.xls]...
...unless two or more sellers (or buyers) contributed to another trade

30 Day Price Vol Wema..

The spreadsheet points to off the floor pre-arranged buy/sell which is perfectly legal.The number of trades is too small for that volume. A big holder (or couple of them) are transferring ownership of ordinary shares to another party (s) at a pre-arranged price. They are required to record the trade.
If NSE had market makers, then it may mean an entirely different thing....

[yemo]

Originally Posted by panej

The spreadsheet points to off the floor pre-arranged buy/sell which is perfectly legal.The number of trades is too small for that volume. A big holder (or couple of them) are transferring ownership of ordinary shares to another party (s) at a pre-arranged price. They are required to record the trade.

Yes. I understand you.
Theoretically, if the transfer costs were negligible, wouldnt it then be possible to pre-arrange such transfers on a frequent basis in order to simulate activity on a given stock?