megawealth01:
I mentioned the stocks I'm heavily invested in here which includes CHAMPIONS B... I've never advised anyone to follow me as I have always fondly said they are gambles... If you can't gamble your funds just don't follow me and buy ooooo

CHAI, make better monies rain wella

Mentioning them is not a problem. Making subsequent posts while mentioning them again with no substantive additional info is pure mischief, sir.

jarkbauer:
Someone should kindly explain to me how closing price is determined and why can’t I trade after 2:19 pm. Thanks

Since few years ago when the last rule was made, a stock must have at least 100,000 of its shares bought/sold at once and at any going price for the day in order for it to close at that price on that particular trading day.

In summary, this means for company A to close at a price say N200, at least 100,000 units of its shares must be bought/sold at N200, at once.

If 99,000 or less was the highest traded quantity, the stock closes at the last closing price irrespective of the price the quantity was transacted.

Apparently offmarket (crossed) trades - which are shown on the market view of Stockbrokers - don't count in this case; but I stand to be corrected as I do not have the facts here.

As for the second part of your inquiry, you can place orders all the way from 9.30am to 2.20pm. Orders may be executed after 2.20pm but new ones cannot be placed.

.

jideflash:
morgan capital platform keeps timing out

You should be clicking things from time to time. That's how the platform has been for a while. It's apparently a security/privacy measure.

thesilentone:
Please can folks on here inform us when their uber drivers, market women start to talk to them about NGX.

That information is going to be critical.

Thanks

Sign for Oso Abiola?

megawealth01:
You eh

I exited at 57k before the Fintech news.

Still made 150%. Of course I would have stayed if the news came earlier.

Congrats to those in the plane.

Edit: na Mercy I be wan reply

Dam5reey:


Why do they need to turn off Inverter, why not the AC out breaker?
Is it to save battery or what?

I recall my own growatt was doing this, and I was turning it off late at night to save battery as I didn't have enough back up.

@Olopan suggested I only turn off the output breaker as the idle consumption of the inverter isn't much. So I did, and the problem was solved.

The funny thing is that that specific inverter now charges with the presence of pv when power switch is off. It is the SPF HVM model.

yMcy56:

So, this b.o.t don unban me, if it won't ban me again...

Oh well!! Its Oba Otudeko again!
These people knows what they're enjoying in this bank, so they don't want to back down easily.

But this Oba get mind and money sha! Imagine him buying FIrst Bank@19/20!
Definitely, they must have seen value there. About 2.5B spent today again.

Otedola needs to step up his game.

All well and good. Let the competition begins!

I have a very small quantity of this bank bought in 2020 at less than 5 bucks

I just dey reason, what if what if...

I would have sold it but I don't use the broker often. Been receiving small small dividends from it.

NGX is trying jare.

Mcy56:
JAPAUL @1.11! CHAMS @1.18! UNITY @1.62
CHI @1.29! ETERNA @28.40! UNIVINSURE @27k!
LEARN AFRICA: @3.84! Well deserved I think.
FCMB @6.65

.....all on full bid...
*Caveat: not any form of advice*

By the way, where is @intendy? ....and he's been coming to NL.
New highs surfacing everyday!

FIDELITY: Rising to the challenge from FCMB?

* This could be one of the news influencing market positively again...
https://www.vanguardngr.com/2023/07/tinubu-suspends-finance-act-halts-5-excise-tax-on-telecoms/

* I posted one few days ago, that got my 2nd handle banned....

Oga Intendy.

I remember when Oracle suggested he should get new long list for New Highs.

He said a stock would post massive losses but will be doing 10-10 percent upward

Mcy56:

This is very wrong!!
Guess what you're referring to is Cross Deals and not for individuals.
@frangel replied you well.

Yes, more like crossed deals. But in this case, the client is not in agreement with the price.

It's possible some brokers are doing it. The thing is that they only do it if you make market orders. And you will only notice if you see your orders executed at prices higher than the lowest offer price.

I have seen it happen to me on at least one occasion. In my case I thought maybe the lower offers were made using Fill or Kill option, but I got units executed at the lower prices when I used Limit Orders.

There may be other reasons unknown to me why it happened. I'm just conjecturing.

Frangel:


Presently, what you described is possible when the client is in agreement with the deal i.e. a price is agreed off-market and trade completed on NGX, the official fees are paid at the executed price, then consideration exchanged with client as agreed.

A client has right/opportunity to get his trade history from CSCS giving prices, quantity and dates. Any distortion with what the firm gives him can be queried and the firm risks sanctions. The scenario where firm tells you a different price from price of execution could happen maybe 20years ago.

If what I suggested is what they did, then the price he would see in his trade history should be the same the broker chooses to quote, which may not necessarily be the actual transaction price.

seyisanya:
With CSCS alert, how is the emboldened possible?

The way I understand it, brokers make the deals and send values to CSCS. It's possible they will choose high offers from their clients (for a buy order) and execute in-house before CSCS knows about it. I stand to be corrected.

Yoast:

Why must they always buy for you at highest price possible and sell at lowest price possible, even when you can see better offers/bids with your korokoro eyes It obvious they programmed their system to cheat when you buy/sell with market order

That's the problem. Maybe they buy at lower price but record you at higher price and book the difference.

Market orders should mean selling first at the highest available price, then next highest if the first quantity is not enough. Same for buying.

My advice is that if you really want to enter or exit a trade at market price, you should use limit orders to target available quantity(-ies) until you get what you want.

Yoast:
Never buy or sell stocks using the MARKET option. Use LIMITS. Learnt that lesson today. These stock brokers are digital thieves

The problem is when you make market order for buy and the broker chooses a higher price than the best available, or when you are selling and they choose a lower price.

Limit orders are, of course better. But there may be reasons to sometimes use market orders.

BullBearMkt:
Hello everyone! I hope we are all ready for the next half of 2023.

I made a quick report on NSE market, you could explore the report that dives into the performance of the Nigerian Stock Exchange in H1 2023 and offers projections for H2 2023, mainly TA.

Click on this link ==> https://drive.google.com/file/d/1h2OMrTmZMH_mIYZkuNXL_82Jv8tX7BbN/view?usp=sharing

PLAN YOUR TRADES AND TRADE YOUR PLANS

Concise, comprehensive analysis.

Well done sir.

Zagee:
The world woke up to a coup-in-progress in Russia. Commodity traders is having next week if things remain the same.

Higher cost incurred on imports.

2nd half.

Those guys have halted their advancement towards Moscow. It's possible it was orchestrated by Kremlin as a distraction for something else as it is wont to do.

emmanuelewumi:
If you started from Treasury Bill or FGN bonds investment before trying the stock market, please identify yourself.

Such people tend to be better investors, they learn the trick faster, they understand the importance of investment income in compounding the portfolio and have better risk management.


My opinion though

My journey was the reverse. I started from capital market before extending to money market. I like money market because of its predictable nature and because sometimes I want some of my accrued gains in capital market (both local and foreign) to be that safe and secured.

BullBearMkt:

...your statement is quite unfortunate! Not all Nigerians are 99% crooks!!

I agree with you. I am a member of a club made up of people who mostly first met on social media. Almost 6 years later, the trust is still impeccable.

Even from this website (Nairaland), I have people I can trust with billions.

It is indeed unfortunate. It's OK to caution people but generalizations are not always correct.

ositadima1:


You get strength o. In my circle, perhaps because of my humble social standing, the women I know are more preoccupied with their hair, clothes, and the latest gossip. Anything beyond Nollywood is too stressful for their brains to process. And here you are analyzing stocks. I'm sure your IQ must be over 120. Please, relax and do your thing. The people who enjoy your commentary know what they benefit.

As a small observation, you should also mention the inherent risks in some of the stocks so that newbies like me can fully understand what we're getting into. Thanks.

I agree with the first part of your post. Most ladies (no diss intended) hardly engage in deep convos, not even the deeper side of the movies they watch, let alone the stock market. It's always hairs, phones, trends, gossips, etc. Kudos to Mercy.

As for the second part, Mercy has always put caveat to most of her posts. Newbies have always been warned on this thread to start their journey with due diligence. Maybe she's being attacked because of Oga Loco who is a self-proclaimed MH.

Oga Osita no be newbie sha

PS. I left Chams yesterday at 57k. Journey started all the way from 21k. I initially offloaded 1/3 at 28k and wanted leaving at 55k but didn't get the chance. I also mentioned it here when I entered this stock. Technically, since it tested 55k, left it and now passed it to 57k, it's OK to assume it will now move above 60k next week. But I'm happy to leave at 57k when the volumes were enough for me. Over 150% ROI is good enough for me.

Mpeace:
Pls where is fxuser?

I Co ask.

He's my bos man!

jideflash:
their q1 result is out and looks solid in EPS, zero debt and almost positive retained earning.
closed +10%

Interesting.

yMcy56:

Has to do with their result mostly...
The FY and Q1 results released shows the stock shouldn't be at car park...
The result has always been good, I don't know why it was grounded at car park since all these days sha.
My opinion.

Window for those who desire to alight the bus.

Closed 22k

yMcy56:

FCMB is dragging feet...btw 4.95/5.10...
If others move up,.it won't have choice than to move.

GT @32.40.....Up with +1.80....
DANGCEM: Volume...@ 286.90
ACCESS: 14.90/15
UNIVINSURE: Getting attn @20k......offer reducing drastically.....20k offer cleared...
Much volume in Sterling and Wapic @72k
WAPCO in volumes!

Many buyers lined up for UNIVINSURE. Where did they come from though? You'd expect the sudden bids to have come from a single entity, but buyers plenty.

Yoast:
Throwback!!!!

Are we experiencing the Bull from Burundi as predicted by Oracle in early 2022 with the following price projections? Perhaps the prediction was right except the timing

The Oga in this screenshot hasn't graced the thread for a while. Hope he's fine.

thesilentone:


The market will decouple from whoever is in govt. Euphoria has not arrived.

When we see topping action, we will do Oso Abiola.

skydiver01:
Look at it or think about it in this way. The yield to maturity is the equivalent coupon rate of a bond at the bond's current price (purchase or sale). Remembering that the coupon rate was set when the bond was originally issued @N100 per unit. Primary markets allow for new bond issuances as well as bond re-openings. Nevertheless, the higher the bond price the lower the yield to maturity and vice versa.

Thank you.

ojesymsym:
Never bought at the secondary market.
Mine has always been at the primary market

Alright. Thank you.

freeman67:


Yield to maturity is the total rate of return that will have been earned by a bond when it makes all interest payments and repays the original principal.
YTM is essentially a bond's internal rate of return if held to maturity.

Yea, that's what I was seeing online too.
I no come too understand am

ojesymsym:
Hmmmm, who would have believed that I would also start explain the terminologies involved in bonds. This is probably one of the first times I can say I understand it.

So let me try to explain using the 2024 and 2025 bonds from my little understanding.

The maturity dates are fairly obvious.

Before talking about the coupon rate, Ask price and Yield to Maturity, we must start from the primary market as an analogy to TB.
In the primary market, Bonds are sold at a rate of 100.00 naira. So, if you want to invest 100,000.00 naira, the quantity you will be able to get will be 1,000 units.

Your interest on those 1k units will be 14.2% for the FGN Bond that matures on the 14th of March, 2024 and 13.53% for the one that will mature on the 23rd of March, 2025.

i.e, 14.2% of 100k will be 14,200 naira. This will be paid in 2 batches of 7,100 naira per annum until maturity date.

Ditto for the second one. 13.53% of 100k will be 13,5300 naira.This will be paid in 2 batches of 6,765 naira per annum until maturity date.

Now, assume you need money and do not want to wait till maturity, you can now offer to sell your bond at a profit (that is more than 100 naira per unit) or at a loss (less than 100 naira per unit). This is equivalent to buying TB from the secondary market.

So back to this example, these bonds are being offered at 107.240 and 104.490 respectively. That is the seller is asking for these prices. (Ask Price). The sellers are selling at a profit.

If you the new buyer now has 100k also to buy, you will only be able to buy 932.488 quantity of the March 2024 bond and 957.03 of the March 2025 bond. (I arrived at these values by dividing 100k by the respective ask prices)

Now, as far as the issuers in concerned. That new price is between the buyer and the seller. The price of the bonds are still going to be 100 naira in their books.

That means, the value of your bond with the issuer will be 93,488.00 naira and 95,703.00 respectively.
That means it is those respective values that the coupon rates will be applied to determine what you will be paid bi-annually.

So, the yield rate is a way of telling you what the actual interest based on the Ask Price that you are paying for the bond will be. Simply put, while the person that bought at 100 per bond unit will be enjoying an interest rate that is equal to the coupon rate, you that bought at a new Ask Price will be enjoying an interest rate that is equal to the yield rate. Note, that the yield rate is not always lower than the coupon rate.

Here 10% interest or yield rate is still fair to me.

Please note, I am not a financial expert and this explanation is based on my own small understanding of the subject that was initially very confusing to me at some stage in my life. I will also accept any correction from a more knowledgeable person in good faith.

Many thanks for this elaborate explanation.

May I ask if you have seen this play out practically (during your course of investment)?
It is clearer from your explanation now.

freeman67:


Before financial experts and statistician come for further clarifications.

Let me try to explain with my little understanding. The coupon /interest rate on the FGN Bond 2025 you posted to be splitted and paid bi-annually is 13.53%. The actual amount for that bond when auctioned was N100. The amount they are asking for it now is N107.240. If you buy it at this rate now, you have paid extra N7.240 for it. Even at that, the coupon/interest rate will not change.

For example, If you are to invest N100,000 you are expected to get N13,530 annually to be splitted and paid N6,765 on the 25 Mar and 25 Oct yearly. Now if you buy it at that asking price, you will pay N107,240 to get the same N13,530 annually.

Thank you.

I understand the COUPON RATE as simply the interest rate, which is always annualized.

skydiver01:
Ignore the 2024. It is not being offered by your bank or broker because there is no FGN bond that sells for N1. The others (2025 & 2026) are available for purchase from your bank or broker.

Thank you.

You're right, the 2024 bond is not on sale as the link for BUY is not highlighted and not clickable.

Still a little confused about YIELD TO MATURITY.

Good evening fellow investors,

Please I would like to be taught, like a high school student, what these figures, percentages and names mean in practical terms.

Maybe I have been misinterpreting them. I have read the literal meanings online but I want practical examples as regards our local market. For instance, there is a huge disparity in figures between the 2024 and 2025 bonds here in terms of ASK PRICE and YIELD TO MATURITY.