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Nairaland Forum / Nairaland / General / Investment / Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day (17413 Views)
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Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 4:48pm On Jul 09, 2015 |
Whynotthetruth: You called me out and i ain't hiding so why are you running? Why don't you tell me how they are closely correlated 2 Likes |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 4:49pm On Jul 09, 2015 |
jaybee3: What are you doing in London... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 4:50pm On Jul 09, 2015 |
Whynotthetruth: jaybee3: |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ugogermany: 4:50pm On Jul 09, 2015 |
Its just the beginning, the zoo is going to fall down. ride on Biafrans! |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 4:51pm On Jul 09, 2015 |
jaybee3: Good pm bro |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 4:52pm On Jul 09, 2015 |
Whynotthetruth: You backing down? |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 4:53pm On Jul 09, 2015 |
jaybee3: Teaching someone who started with a boast on how he would school me on equities and shares...That's a big NO to me... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 4:54pm On Jul 09, 2015 |
jaybee3:Yes...thanks for your time and schooling... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 4:56pm On Jul 09, 2015 |
Whynotthetruth: I could place a bet that you were probably still in secondary school when i was actively trading So please make it a Yes Yes You think i'm one of those that can talk the talk but won't be able to walk the walk? Anyhoo, i will let you off Ciao 2 Likes |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 5:01pm On Jul 09, 2015 |
jaybee3: Braggart byeeeee bro |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 5:07pm On Jul 09, 2015 |
Whynotthetruth: I like being Intellectually challenged so no issues. Stay blessed |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Nobody: 5:21pm On Jul 09, 2015 |
Firefire: When the head starts getting rotten it is better to remove it to save the body of the fish. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 5:34pm On Jul 09, 2015 |
jaybee3: Same to u bro...if you used these lines ab initio ; believe me we would have had an interesting session here...but hope to see ya in another thread and topic...thanks and best wishes... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by IBBG(m): 6:12pm On Jul 09, 2015 |
jaybee3:actually I think it does, because when foreign investors want to buy Nigerian stock they will need to change their dollars for naira hence pushing up the naira due to demand. In a situation when foreigners are dumping our stocks they will convert the naira to dollars hence putting a downward pressure on the naira since dollars is in higher demand. So that's the likely scenario I can envisage. Although I'm not an economist by profession, but I'm so fond of economics as it affects our world. Hoping to become good at it, as it will enable me make sound decision as a potential investor. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 6:16pm On Jul 09, 2015 |
IBBG:Nigerian stock index is not traded in Nigeria alone Do you understand the concept of EFT? |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by 989900: 6:24pm On Jul 09, 2015 |
I wish this people would just listen to Henry Boyo an astute economist, and a large chunk of our economy will be revived in 'no time'. He predicted where we are headed a long while ago. rati ken: https://www.nairaland.com/844884/solution-fuel-subsidy-wahala-look (pictorial representation) http://eaglereporters.com/2014/12/19/dollar-exchange-rate-91474/ http://eaglereporters.com/2015/07/08/fuel-imports-the-real-cabal-by-henry-boyo/ http://eaglereporters.com/2015/02/09/economic-mismanagement-retrospect/ http://eaglereporters.com/2015/06/01/buhari-vs-a-clueless-mpc/ http://thenewsnigeria.com.ng/2015/05/19/okonjo-iweala-a-failure-henry-boyo/ http://www.punchng.com/opinion/viewpoint/soludo-vs-iweala-between-the-pot-and-the-kettle/ http://dailyindependentnig.com/2015/03/cbn-dollarisation-economy/ http://omojuwa.com/2013/01/opinion-cbn-and-the-nigerian-economy-henry-boyo/ https://www.youtube.com/watch?v=tSN3jBu-W20 https://www.youtube.com/watch?v=V7oLw6LuWqM https://www.youtube.com/watch?v=MLSvITJc9uk "The problem of the Nigerian economy will remain intractable until the CBN's monopoly of the forex market is dismantled" _ Les Leba. http://www.lesleba.com/ these guys no more about the economy than all of Nigeria's economic team from the past and now put together, but their voices are consciously drowned. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ttmacoy: 6:40pm On Jul 09, 2015 |
Not exactly true. China's stock.market crash has nothing to do with Greece and the Greek issue will not impact Nigeria that much compared to other European countries. Th pressure on the naira is directly linked to the fall in government revenue from oil prices and depletion of the foreign reserve. I other factors you mentioned may have some impact but those are not the main reasons. InvertedHammer: |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by 989900: 6:59pm On Jul 09, 2015 |
ttmacoy: Directly? No. Maybe inversely. It's just a fraction of a host of other factors. We had a better exchange rate even when crude sold for $9/barrel In reality, with the current CBN monetary and fiscal policies, at some certain higher crude prices (that's not high enough) it can actually translate to depreciation of the Naira, especially when we import refined petroleum products and some other funny items, factoring-in excess liquidity (more Naira chasing fewer dollars). My previous post, the one above yours, helps. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ekoscolary: 9:28pm On Jul 09, 2015 |
Firefire: So what is depleting our foreign reserves if 2 billion remittance is outstanding ? |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ohenhen1: 10:38pm On Jul 09, 2015 |
I will gladly buy the shares at a cheap price. I am in it for the long run. Nigeria stock market will bounce back. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by edmarknetwork: 11:29pm On Jul 09, 2015 |
I TOLD MY FRIEND 3 YEARS AGO TO FORGET ABOUT STOCK MARKET INVESTMENT BECAUSE OF EXPECTED FREE FALL,HE REFUSED. COME AND INVEST IN TIME BUSNESS,BUILD IT AND SEE IT GROW ON ITS OWN. CALLING US ALL SORTS OF NAMES. TODAY I AM SMILING AND MY CHECK DOES NOT FAIL TO COME AT AN INCREASING RATE. DON'T LISTEN TO NAGATIVE TALKS INVESTING IN EDMARK BUSINESS HAS SAVED AND THOUSANDS OF NIGERIANS A ONE TIME INVESTMENT OF LESS THAN N40,000.IS WHAT YOU NEED TO KICK OFF YOUR JOURNEY TO A TRUE AND LASTING BUSINESS FORTUNE WITH PEACE OF MIND. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ekoscolary: 1:05am On Jul 10, 2015 |
989900: So r u saying we should directly dollarise our economy ? Hell No. CBN is currently not dispose to subsidising frivolous private & public dollar expenditures. That is d main purpose of its recent policy to yank off some goods from IFEX funding. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by InvertedHammer: 1:57am On Jul 10, 2015 |
ttmacoy:/ Re-read the OP. You are confused. How much impact from.Greece is enough? I didn't discuss the pressure on naira. I refuted the assertion that the fall in equities in recent times is because of devaluation of naira. Cause and effects? Not so fast. The world is one global village. Market reacts to anticipations and outlook. Uncertainty kills the market. I don't want to argue blindly. Take a historic look at the Greece crisis and see what happened to global equities each time it came up. Nigeria is a small fish in a big pond. Debts are repackaged and sold to different entities which is why when one country sneezes, everyone catches cold. Naira is still in a sh.it hole but once the Greece saga is temporarily bandaged, Nigerian equity market will go bullish like everyone else. US had to pull the plug on.NYSE yesterday based on a flimpsy excuse of "technical glitch". Chinese regulators came out with a margin news that affected the global market. Then with the dire situation in Greece hanging on the balance, everything went haywire. Major brokers all over the world even sent out emergency messages to their major clients about temporary changes in margin requirements till the Greece issue is sorted out. If you are not in the business, you will never understand. \ |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ekoscolary: 3:47am On Jul 10, 2015 |
1stCitizen: How do you make comparison with different bases. How much was crude oil when Sanusi was CBN governor ? The problem is more of fiscal policy rather monetary policy. So guy or doll, your own post does not make any sense. |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by ttmacoy: 4:24am On Jul 10, 2015 |
The world is a global place yes, but you saying the fall in equities on Nigerian stock exchange and Chinese stock exchange is due to Greece is wrong. No they are not. Chinese stocks are falling due to the fact that the stock prices have been pumped up in a bubble financed by margins. Same with the real estate sector which is a bubble waiting to burst. It is not because of Greece. There may be some negative sentiment due to the Greek issue but that is not the main reason why these markets are experiencing bears. The Nigerian stock exchange is falling because of investor uncertainty about the Nigerian economy and the issue o falling government revenue and pressure on naira and not because of Greece. Yes the Greek issue can have a global impact but that impact will be limited in Nigeria and will definitely not result in 30% fall in Chinese stock market with a value of over $3.5 trillion. The impact will be felt mostly by European countries and minimally by others. So saying fall in Nigerian stock and Chinese stock is due to Greece is wrong. If the Greece saga is sorted out, and investors still do not have confidence in the economic ability of the new government in Nigeria , stock prices will not rise. US pulled the plug on NYSE... really?? So they pulled the plug on United Airlines as well who suffered a technology failure about same time? R just conspiracies InvertedHammer: |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by 989900: 8:22am On Jul 10, 2015 |
ekoscolary: No, actually go through those links and watch the videos, they are self-explanatory. OTOH, the whole world's economy is 'dollarized' already. Especially oil producing nations. There are tens of countries out there, especially in the middle east, whose currencies are directly tied/pegged to the dollar, and by extension some part of their economy. Gaddafi tried to break off this chain . . . Iran, China, India, Russia are trying to break off it too. Our economy is largely 'dollarized' already, when a significantly large chunk of our budget goes into imports (refined petroleum products takes roughly 30%) paid for in dollars. The government (FG and states) borrow and pay back in dollars too. Go through the links and watch the videos for a wider perspective. If you have less time, just go through this: https://www.nairaland.com/844884/solution-fuel-subsidy-wahala-look (and this was a 2010 prediction; how apt). |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by joeybankz: 8:22am On Jul 10, 2015 |
The discussion here got me thinking...... Thanks to Whynotthetruth And jaybee3 for refreshing my memory again, Twas an interesting one there........... Picking up my University text again to check up on some things...... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 8:37am On Jul 10, 2015 |
joeybankz: God bless bro...kindly share new information here with us as well as throwing up questions for all to learn...thanks |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 8:56am On Jul 10, 2015 |
jaybee3: Kindly stop this...Are you dropping these jargons to scare them or what?....Do you even understand the terms & concepts that you're throwing up...how does this relate to Nigeria Stock Market challenge in the original post? |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by jaybee3(m): 9:19am On Jul 10, 2015 |
Whynotthetruth: Why don't you drop your view for clarity instead of asking unrelated questions? The dude insisted foreign currency has to be changed into Naira before it can be invested and i said not necessarily |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by Whynotthetruth(m): 10:02am On Jul 10, 2015 |
jaybee3: Yes...he is kinda right...our economy is denominated in naira and whatever transactions in shares and equity is done in same naira...Foreign investors don't really need physical cash to do their investments here...They simply get their currency mostly in dollars wired which is converted into our currency and invested accordingly... I think your confusion stems from mixing up activities in money market with that of capital market... Fx is same as forex and same as foreign exchange trading...and this is done commonly in dollars with NO geographical limitation unlike in shares which is the subject of the original post and primarily traded in Nigerian Stock Exchange... it has geographical limitation in the sense that activities there are regulated and subject to economic policies of Nigeria... |
Re: Weak Naira: Worried Investors Sell Shares For 6th Consecutive Day by InvertedHammer: 10:04am On Jul 10, 2015 |
ttmacoy:/ Some of you enjoy reading yourselves. You repeated almost everything I said about the Chinese regulators, Greece, etc. The only place we seem to disagree is the stock market. I maintain my position. If the global equities are bullish, Nigeria's equity market will follow suit. Bad economic news in Nigeria will only create bumps along the way. But the global bullish trend will overrule it. Believe whatever you want. / |
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