The Stock Market Today

[DaInvestor]

Opened this thread cos i noticed there was no dedicated one that discuss the happenings in the sec market at the close of trading.

Looking at todays daily report a lot of disservice has been done to investors in this market or ours and i no longer think i have confidence in the regulatory bodies saddled wirth the responsibility of protecting investors and also ensuring that the is a bit of credibility in our system.

Im beginning to think in the direction of liquidating all my shares and take whats left while i still can.

for 2days daily price listing almost all the stocks lost with the exception of a few so what value has their so called intervention added, instead i see a lot of uncertainity cos u dont know what they are going to do next.

All i see is red and its getting kinda scary considering what we've been thru in the past 1 or 2 months with the exception of last week.

Whats ur take, and i hope we'll be able to discuss the outcome of daily trading on this thread.

[DaInvestor]

The market has gone crazy, when is this going to stop, i think i need to offload all my shares and invest in real agriculture. I noticed Lasaco was not in todays list, any one knows why??? or is it a mistake in the daily report????
who has an idea when the market will fully correct itself????

[Captain Ugo]

Remember the rainfall we are experiencing with the market, is due to the embargo on what the finance experts call margin accounts: whereby banks lend huge sums of money to stockbroking firms to trade. this embargo was innitiated due to the stockbroking sectors capitalisation wahala. well, my advice for those that have not offloaded earlier is to either go for lowlypriced stocks (for he that is down needs fear no fall) or just keep praying and watching out for events relating to that margin accounts stuff that have reduced the amountof money circulating in the market. I think the rain is getting to a limit that it cannot fall below.

[billions]

Originally Posted by Captain Ugo

Remember the rainfall we are experiencing with the market, is due to the embargo on what the finance experts call margin accounts: whereby banks lend huge sums of money to stockbroking firms to trade. this embargo was innitiated due to the stockbroking sectors capitalisation wahala. well, my advice for those that have not offloaded earlier is to either go for lowlypriced stocks (for he that is down needs fear no fall) or just keep praying and watching out for events relating to that margin accounts stuff that have reduced the amountof money circulating in the market. I think the rain is getting to a limit that it cannot fall below.

Could u pls explain why u said d embargo on margin funds is related to d capitalisation of stockbroking firms?

I hv not read about this link in any newspaper but it seems to add-up.THX

[panasharp]

Remember the common investment cliche; buy low sell high.

Buy quality stock low and sell high.

[Captain Ugo]

Thanks Panasharp, you got it "buy low sell high". This period that prices are low is good time to shop for some good stocks, moreover market prices now are closer to the real (intrisic value) of stocks, i believe the prices will start bloatng again, at worst in a couple of months.

[Captain Ugo]

Originally Posted by billions

Could u pls explain why u said d embargo on margin funds is related to d capitalisation of stockbroking firms?

I hv not read about this link in any newspaper but it seems to add-up.THX

you can read it up on UBA Global Markets - Welcome[2008-04-15] Market capitalisation falls by N128bn, i heard it from a broker too.

[DaInvestor]

Another bloody day for banks at the exchange 2day. All the banking stocks lost except access and unity of course wema remained unchanged. I'm beginning to wonder when this trend would end. The insurance stocks are still a little bit here and there but the market in general was negative 2day.

So much for the bulls, i guess the bears are back in town and i dont think i'm still prepared for them.

[Michael]

Originally Posted by DaInvestor

Another bloody day for banks at the exchange 2day. All the banking stocks lost except access and unity of course wema remained unchanged. I'm beginning to wonder when this trend would end. The insurance stocks are still a little bit here and there but the market in general was negative 2day.

So much for the bulls, i guess the bears are back in town and i dont think i'm still prepared for them.

I dont think the bears can still wreck too much mayhem, unless NSE, SEC or CBN are poised to do another ""dont say I told you so""

[Apache]

Guys, i wouldn't advice you monitor the market everyday unless you are a short termer.
You see, what is going on in the market is expected. We are in a period oh stabilization (at least, that's what i feel). So you might be seeing a situation where the market rises today, falls tomorrow etc. The thing is that in the long run, you will be better off.
I doubt that the bears are back.
I have been monitoring the market everyday of recent but that's because I have money to buy and i am monitoring the stocks to see when they come within striking distance.

[zainabusman]

Originally Posted by Apache

Guys, i wouldn't advice you monitor the market everyday unless you are a short termer.
You see, what is going on in the market is expected. We are in a period oh stabilization (at least, that's what i feel). So you might be seeing a situation where the market rises today, falls tomorrow etc. The thing is that in the long run, you will be better off.
I doubt that the bears are back.
I have been monitoring the market everyday of recent but that's because I have money to buy and i am monitoring the stocks to see when they come within striking distance.

I also monitor the market to see if there is a buy opportunity or even a sell one. If i was not monitoring the market i wont have been able to buy Costain at less than 23 and Dangote Sugar at 30 or GTB at 24.

I think the volatility of the market in the last few weeks makes it essential that one monitors it to take advantage.

I have little cash right now and i am looking to buy Dangote Sugar and Costain when the opportunity arises.

[Apache]

Originally Posted by zainabusman

I also monitor the market to see if there is a buy opportunity or even a sell one. If i was not monitoring the market i wont have been able to buy Costain at less than 23 and Dangote Sugar at 30 or GTB at 24.

I think the volatility of the market in the last few weeks makes it essential that one monitors it to take advantage.

I have little cash right now and i am looking to buy Dangote Sugar and Costain when the opportunity arises.

My point exactly. but in a situation where you are already in fully, you should just sit and enjoy the show and not be bothered by whether prices are going up today and falling tomorrow; cos if you do that, it might lead you to make some rash decisions esp when keeping the bearish season of the last 3-4 months in mind.
unless you are looking for some bargains, i wouldn't advise you monitor the market everyday. (of which if you are looking for somer bargains, I can imagine what your prayer right now is - for bulls or against bulls)

[waaan5]

Even while not monitoring the market closely , I sure do and would always monitor the SMN daily. It gives invaluable sensing of the mood and market sentiments - you guys are just that great!

[DaInvestor]

The bears are back with a vengeance.

one good thing to note is dat some stocks that have been in the wrong end of the bears actually kinda escaped

Intercontinental gained 1.45 to close at 31.45

Investment and allied also gained .04 to close at .87 meaning those of u dat are waiting for 50k would kinda like wait some more.

[joy111]

FIRST BANK OF NIGERIA PLC AUDITED YEAR-END RESULT FOR THE PERIOD ENDED 31 MARCH 2008




2008


2007


CHANGE


% CHANGE


N'b


N'b


N'b


%

TURNOVER


155.290


25.850


129.440


500.74%

PROFIT BEFORE TAX


47.690


25.850


21.840


84.49%

TAXATION


-10.670


-5.210


5.460


104.80%

PROFIT AFTER TAX


36.540


20.640


15.900


77.03%

PROPOSED DIVIDEND


N1.20










PROPOSED BONUS


1 FOR 4


CLOSURE DATE


8TH AUGUST, 2008







PAYMENT DATE


29TH AUGUST, 2008









UNITED BANK OF AFRICA PLC UNAUDITED THIRD QUARTER RESULT FOR THE PERIOD ENDED 30 JUNE 2008




2008


2007


CHANGE


% CHANGE


N'b


N'b


N'b


%

TURNOVER


120.250


75.250


45.000


59.80%

PROFIT BEFORE TAX


33.140


19.690


13.450


68.31%

TAXATION


-4.300


-2.560


1.740


67.97%

PROFIT AFTER TAX


28.850


17.130


11.720


68.42%



SKYE BANK PLC UNAUDITED THIRD QUARTER RESULT FOR THE PERIOD ENDED 30 JUNE 2008




2008


2007


CHANGE


% CHANGE


N'b


N'b


N'b


%

TURNOVER


47.200


28.700


18.500


64.46%

PROFIT BEFORE TAX


15.990


4.630


11.360


245.36%

TAXATION


-5.110


-1.390


3.720


267.63%

PROFIT AFTER TAX


10.870


3.240


7.630


235.49%

[billions]

The market was okay today but i can still perceive d odour of d bears.

They have not gone,they are hiding!

[zainabusman]

Originally Posted by billions

The market was okay today but i can still perceive d odour of d bears.

They have not gone,they are hiding!

I laugh. Anyway the results released by some banks should lift the market even if temporarily.