currentprice:

I was about asking after you o and you appeared, doing your usual. Any shining of teeth without you is incomplete.

Dragonking:
The bull will soon finish n those two useless banks didnt even gain 4 once..when bear comes again, they will drop further. which kind gbege be dis sef

FCMB is currently trading at 2.02.

MiCarino:
Something tells me the bull will not last till Friday. Oando might drop tomorrow.

There is an almost a reality that by Friday even from tomorrow profit taking would be more pronounced! but whichever way we must be smart in our decision by stick to what worked for each trader/investor.

myjoy08:



FCMB is currently trading at 2.02.

I am watching this bank to get lower very well if it want to so as to create a trading margin to profit from that's why i liked skye that i was fortunate to buy at #1.70 and sold yesterday at 1.99.

Michael11stock:
The bull is here to stay whether you like it or not, there are so many economic reasons; 1 crude oil increasing. 2 if Goodluck wins the economy is ok and if Buhari wins the Economy is still ok for investors. so no more panic

pls don't be overtly optimistic about market instead be guided by possible reality from all angles of macro-economic and political parameters.

Pls, tell us when you loss also, not only JIJO gain

Abeg, make this Bull try enter Jegede Oil shop biko......
Man don suffer for this train oh.

^ till Jesus come

i think its too late to buy today...for those with short term intentions. profit takers will likely step in tomorrow and that may last till friday..and then price correction...next monday is another fine day..so sad i missed this short bull.

Yem0350:
Pls, tell us when you loss also, not only JIJO gain

my losses are just too insignificant to the extent that it give no evidence of loss on my balance , I will say I drew with d market than to lose money and when I hit,I hit much.

valacious:
i think its too late to buy today...for those with short term intentions. profit takers will likely step in tomorrow and that may last till friday..and then price correction...next monday is another fine day..so sad i missed this short bull.

thanks.

valacious:
i think its too late to buy today...for those with short term intentions. profit takers will likely step in tomorrow and that may last till friday..and then price correction...next monday is another fine day..so sad i missed this short bull.

Don't feel bad bro ,there is always another day like u said by next week/ soon another opportunity will come. Am glad i did not listen to that person saying people were dumping last week , election is still few weeks away again there may be another bull before then

myjoy08:



FCMB is currently trading at 2.02.

But no gain at that price.

please i cannot still find my stock broker oh, reward Investment & services Limited, please does anybody have their contact apart from the useless land line on their website....or do you have a forum on nse i can report them.....its getting too much, my time is getting limited with them,...pls help me house

lancee:



Don't feel bad bro ,there is always another day like u said by next week/ soon another opportunity will come. Am glad i did not listen to that person saying people were dumping last week , election is still few weeks away again there may be another bull before then

But were people not dumping last week? Truth is that the market is full of surprises, sometimes bitter, sometimes sweet.

zendi:
But were people not dumping last week? Truth is that the market is full of surprises, sometimes bitter, sometimes sweet.

There is always a buyer and there is always a seller , i agree with u that the market is full of surprises and also there are a lot of things goin on on NSE that we don't know about , little or no Transparency
For now i just try to buy low and try to sell asap once there is a short bull
short bull

A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

bigass:
A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

Hmm ..Thanks

I am around

I've sold all my holdings including the Diamond bank stock i bought yesterday. I am home and dry. #loving myself. No loss, few gain.

cuteboy2:


On FBHN: Sure, I know about their Petroleum sector exposure, but most of it is for upstream oil business which is more robust and sustainable business, than the many fly-by-night briefcase fuel importers. Exposure to downstream is well within thier risk capability - just a few of the good things Sanusi Lamido put in place as Head of Risk at FBN, before moving to CBN.

Compare their petroleum portfolio to that of the likes of Unity Bank (mostly product importers). They had to take newspaper adverts to beg their debtors to come and settle. The big boys among, also took their own full page adverts telling Unity to go to the moon, that it is actually the bank that owes them . They also called their SANs to dust up their briefs.

The difference between FBN and the likes of Unity is the strength and size of the balance sheet, and how much shock they can take without going under. Remember during the early days of telecom sector privatization, FBN financed IIL purchase of Nitel. The deal went sour, and FBN took a massive hit. Then Bernard Longe was the MD. It cost him his career. The financial world was amazed at how quickly FBN shook off that lose in a few quarters and still declared profit and dividend. Smaller banks would not have survived the IIL fiasco.

UBA is OK oooooo. I like their spin offs even better, UBA Cap and Afriprudential Registrars, since these businesses are pure play, and balance sheets are more transparent. And, off course, they have excellent dividend yield even at 2013/2014 prices. So also Skye bank @ N2. Just depends on your investment strategy and time frame.

Diamond is an excellent pick @N3.6. When it recovers, it must chase N12. Div policy & yield history also excellent.

you mean 'non dividend policy'? I believe they only paid dividend last year so as to attract better take-up of their just concluded rights

bigass:
A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

I think she never kept an eye on her portfolio. If she did, she could not have allowed it to turn out into a major loss - a whooping 55% loss.
Many experts always advise to sell your holding when you have made a progressive loss of no more than 8%. ( Or sell when you have made a profit of 20 - 25% ).

However if she is in it for the long run - say years, then she shouldn't be too bothered about it since there could be a come-back after all - although it may take a long time.

FrankTalk1:


I think she never kept an eye on her portfolio. If she did, she could not have allowed it to turn out into a major loss - a whooping 55% loss.
Many experts always advise to sell your holding when you have made a progressive loss of no more than 8%. ( Or sell when you have made a profit of 20 - 25% ).

However if she is in it for the long run - say years, then she shouldn't be too bothered about it since there could be a come-back after all - although it may take a long time.

GBAM

bigass:
A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

10m only, does she need her money any time soon , well if she does that is when i will pity her but if not am sure there is no big deal , she will recover her money , people portfolio are on red zone but that does not mean you have to be worried, am sure she is not a trader but an investor

bigass:
A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

I really feel for your friend..but you would have warned her the way we warned you guys last year..She should be strong and invest for the long term. Also advise her to monitor the stock market closely.

CBN closes official forex window to importers
February 19, 2015 | Filed under: Exclusive,main story | Author: John Omachonu, Hope Moses-Ashike, Onyinye Nwachukwu, Odinaka Anudu & Akin-Olusoji Akinyele

Determined to bring sanity into the foreign exchange market bedeviled by speculative demand and round-tripping, the Central Bank of Nigeria (CBN) yesterday closed the Retail Dutch Auction System, (RDAS) for a managed floating exchange rate regime that will require it determine the rate at the interbank rather than demand and supply dynamics.

Consequently, the naira which has lost about 17 percent since an official devaluation in November 2014 shifted the midpoint from N155 to N168, with a wider band of ± 5 percent has become a managed float with the CBN intervening in interbank market when there is volatility.

The development, regarded as a tacit devaluation of the naira by some analysts, is also seen as another drastic move to check widespread arbitrage of N46 existing between the official rate of N168/$ and the parallel market rate of N214/$ as at last night.

Besides, it is expected to reduce the malpractices occasioned by various definitions adduced to the prefered sectors which enjoyed the official rate by some importers, as only the CBN will manage the rate at interbank.

But manufacturers said last night that the action is capable of destroying the sector that is currently reeling under different challenges.

“Given the fact that oil prices are falling, we all say there is the need to diversify the economy. But how can you diversify without manufacturing,” says Frank S.U. Jacobs, president, Manufacturers Association (MAN).

However, Razia Khan, managing director, Head, Africa Macro Global Research, Standard Chartered Bank, London said, “It is better news for importers, as it means that the uncertainty over whether a type of FX demand is admissible at the RDAS or not is no longer relevant.However, for importers that did previously benefit from the subsidised FX rate, the feedthrough from a weaker FX rate will now be immediate.”

Johnson Chukwu, managing director, Cowry Asset Management limited, said the “closure implies the introduction of a floating exchange rate regime for the naira. With this policy, the exchange rate will now be largely determined by the forces of demand and supply, with the CBN intervening to correct market imperfections.

“However, given the structure of the Nigerian economy, where 90% of our foreign exchange earnings come from crude oil sales, which are received by the CBN, it will still maintain a near monopoly position in the supply of forex to the interbank market.

The benefit of this policy is that the economic rent, subsidy and arbitrage which a few economic agents have been enjoying from accessing funds via the official window has now been eliminated.”

Chukwu further observed that the harmonisation of exchange rates around the interbank rate would lead to further depreciation of the exchange rates, as well as increase in the cost of production for most real sector operators who have been sourcing their forex needs from the official window. He adds, “We should expect an uptick in inflation rate as a result of this policy.”

Ayodeji Ebo, Head, Investment Research, Afrinvest Securities limited said, “We expect this decision to increase the cost of imported inputs for the FMGCs, as input cost increases, hence reduced profit margin. Investors are expected to price-in the new development into the share prices of the FMGCs when taking investment decisions.”

Ebo observed that the new ‘one-way quote’ would compel banks to carry out the expected intermediation role, as they will forfeit the spread earned on forex trading as offer will be filled on “demand basis”.

“This decision will force the banks to look more inward and focus on real banking generating activities, so as to improve their bottom line. On the economy, this decision may reduce the pressure on the exchange rate in the interim however, the foreign investors will remain wary of foreign exchange risks in view of a depleting external reserves, he said.”

The CBN, in a statement by Mu’azu Ibrahim, director corporate communications, last night said, “ The managed float exchange rate regime, which the bank had adopted following the liberalisation of the foreign exchange market, has for the most part been successful in ensuring exchange rate stability in line with its mandate.

“In recent times however, with the sharp decline in global oil prices and the resultant fall in the country’s foreign exchange earnings, the bank has observed a widening margin between the rates in the interbank and the rDAS window, thus engendering undesirable practices, including round-tripping, speculative demand, rent-seeking, spurious demand, and inefficient use of scarce foreign exchange resources by economic agents.” This has continued to put pressure on the nation’s foreign exchange reserves, with no visible economic benefits to the productive sector of the economy and the general public.

“In view of the foregoing, it has become imperative that appropriate actions be taken to avert the emergence of a multiple exchange rate regime and preserve the country’s foreign exchange reserves. Consequently, we wish to inform all authorised dealers and the general public that with effect from the date of this press release, the rDAS/wDAS foreign exchange window at the CBN is hereby closed. Henceforth, all demand for foreign exchange should be channeled to the Interbank Foreign Exchange market.”

John Omachonu, Hope Moses-Ashike, Onyinye Nwachukwu, Odinaka Anudu & Akin-Olusoji Akinyele

http://businessdayonline.com/2015/02/cbn-closes-official-forex-window-to-importers/#.VOU1CPmUeSo

bigass:
A friend just told me she lost 5.5 million. She invested 10 million last year in NSE now her portfolio is worth 4.5 million. Trade with care oooo

Has she sold? if the answer is no then tell her that she lost NOTHING, i repeat tell your friend that she lost NOTHING.

In stock market your don't count your chick before they hatch which inturn means "You don't gain or lose until you sell". Period!

it seems the weakness witnessed in uptrend drive of the banking stocks yesterday will negate the general uptrend of the market following a renewed weakness of 9ja currency.major profiteering activity is imminent today

PETERiCHY:



Has she sold? if the answer is no then tell her that she lost NOTHING, i repeat tell your friend that she lost NOTHING.

In stock market your don't count your chick before they hatch which inturn means "You don't gain or lose until you sell". Period!

Surprised that nobody is asking the variety of this persons' portfolio. Ability to wriggle out of this mess is a function of the kind of stocks your friend is holding.

u just took the words out of my keyboard. the quality of the stock in her portfolio. if its fundamental stocks, there is hop.

rebekah2011:


Surprised that nobody is asking the variety of this persons' portfolio. Ability to wriggle out of this mess is a function of the kind of stocks your friend is holding.