₦airaland Forum

mercylicious:
What is happening to oando? Tot both are correlated 'co-efficient' brothers?

Those moving transcorp will start selling 2mr and move on to Oando

I think the bears have it.

It seems the wiser bailed out today to manage their wounds.

ihedioramma:
were is angrybull and chibuking81, uche nco? come out the bull are looking for you people oooo .

Calvary greetings to all my bnsitl.

themosthigh:
Whether una like am or una no like am o,evansmedical management de buy up shares to mup up the profit that would hit them soon.
I am promising you guys that with the situation in the company now, even buying at 2.50 will still be profitable in 9 months time because it may even become bigger than pfizer in nigeria soon.
License for antiretrovirals is still on the pipeline...doubt me at you peril...it have moved from 54k to 69k in just 1 week

good one!people have heard this type of tone before and it's not new but definitely,those who will join your bus will do and those who will not wont.perhaps,money is still in the locked box.happy investing

stockbull:
good one!people have heard this type of tone before and it's not new but definitely,those who will join your bus will do and those who will not wont.perhaps,money is still in the locked box.happy investing

QED..GBAM....CHIKENA...

The oracle have spoken.

themosthigh:
Whether una like am or una no like am o,evansmedical management de buy up shares to mup up the profit that would hit them soon.
I am promising you guys that with the situation in the company now, even buying at 2.50 will still be profitable in 9 months time because it may even become bigger than pfizer in nigeria soon.
License for antiretrovirals is still on the pipeline...doubt me at you peril...it have moved from 54k to 69k in just 1 week

Enjoy your loots Sir. Watching EvansMedical in openeye2makemoney.com

On a serious note, Sir themosthigh, i will like to get some units of this stock if only you can sell to me

themosthigh:
Whether una like am or una no like am o,evansmedical management de buy up shares to mup up the profit that would hit them soon.
I am promising you guys that with the situation in the company now, even buying at 2.50 will still be profitable in 9 months time because it may even become bigger than pfizer in nigeria soon.
License for antiretrovirals is still on the pipeline...doubt me at you peril...it have moved from 54k to 69k in just 1 week

The Volume is too low, one cld get trapped, this is a one event stock, not good for me, moreover now that NSE is awash with cheap stocks.
But Thanks anyway for sharing

cadno:
The Volume is too low, one cld get trapped, this is a one event stock, not good for me, moreover now that NSE is awash with cheap stocks.
But Thanks anyway for sharing

As per moving price of Illiquid stocks, we have done it b4 and may do it again.
It is very easy to do with cheap stocks.

Finished going through today's market data.



NSE

ucheson2:
Calvary greetings to all my bnsitl.

One love . Why the bull see your face and go back now? .

mercylicious:
As per moving price of Illiquid stocks, we have done it b4 and may do it again.
It is very easy to do with cheap stocks.

How ?

themosthigh:
Please how??

Evans med gained 9% yesterday with only N48,000 in 3 deals.That's how

Did u guys see d vols on wapic?

http://www.vanguardngr.com/2015/08/naira-depreciates-by-n7/

despite CBN’s intervention on banks’ dollar payment


The naira yesterday could not sustain the gains recorded on Wednesday, as it depreciated against the US dollar in the parallel market, closing at N222 to a dollar. This represents a depreciation of N7 from Wednesday when a dollar exchanged for N215 in Lagos and Kano, and N220 to a dollar in Abuja.

Also, the Central Bank of Nigeria, CBN yesterday directed that banks should pay for their dollar purchases 48 hours in advance.

Sources from the Bureaux De Changes (BDCS) said that the gains recorded on Wednesday could not be sustained yesterday due to the fact that the dollar sold to them by the CBN was bought by people that felt that the naira would fall as the CBN may not be able to sustain the sale of more dollar to the parallel market.

Meanwhile, CBN has directed commercial banks to pay for their dollar purchases 48 hours in advance, after banning them from accepting foreign currency cash deposits to curb dollar demand and stem illicit financial flows.

Reacting to the *development, BDC operators said banks would struggle to buy dollar on behalf of customers, while the ban on dollar cash deposits would stem speculation.

The CBN in June curbed access to the interbank currency market to preserve its foreign reserves. The move led to the diversion of dollar demand to the black market, weakening the local currency.

“We are now required to deposit the naira equivalent of our total forex bids to the central bank 48 The measures led to a sharp increase in interest rates on the interbank market, traders said.
“The new measure has taken out some huge naira liquidity in the market and putting pressure on the cost of funds among banks,” one dealer said.

The overnight lending rate jumped to 50 percent on Thursday from 12 percent the previous day, amid low liquidity as some banks scrambled to stock up on the naira to back up their forex demand with the central bank.

Ugo Okoroafor, communications adviser to the CBN Governor had explained that the ban on dollar cash deposits with commercial banks was aimed at curbing the “increasing dollarisation of the economy.”

Meanwhile, on Wednesday , it was gathered that the CBN issued a circular to sell additional $30,000 to all licensed bureaux de change (BDCs) in the country on Friday, apart from the weekly sale of $30,000 that the apex banks normally makes to each BDC.

Earlier in the day on Wednesday , naira exchanged for as high as 235 to a dollar, but a parallel market source noted that the news of the CBN circular prompted various firms to hurriedly sell off the dollars in their possession leading to increase in supply of dollars to the market and thus crashing the exchange rate. The hurried sale is in anticipation that the market would be flooded by dollars when the additional sale is made by the apex bank on Friday. The official exchange rate remains pegged by CBN at N197 to a dollar.

Vanguard investigations on Tuesday had revealed that the naira depreciation was as a result of panic buying of the dollar in the hope that it would further depreciate. Sources said that there was hoarding of foreign currency going on at the unofficial market. They said that the appreciation of the naira last week was temporary and that the exchange rate was most likely to return to its previous level. The naira had last week appreciated by N35 fromN245 per dollar to N210, due to excess dollars in the market, occasioned by refusal of banks to allow foreign currency deposits into domiciliary accounts.

http://businessdayonline.com/2015/08/naira-firms-as-cbn-directs-banks-to-pay-for-dollar-purchase-48hrs-ahead/#.VcR4wRxwaM8

The naira on Thursday firmed further at the Bureau De Change and parallel market segments as the Central Bank of Nigeria (CBN) intervened by supplying dollar to the BDCs.

Meanwhile, the apex bank has directed commercial banks to pay for their dollar purchases 48 hours in advance, after banning them from accepting foreign currency cash deposits to curb dollar demand and stem illicit financial flows.

Consequently, naira gained N2 or 0.90 percent each against the US dollar at the BDC segment and parallel market.

As a result, the local currency closed at N218/$ compared with N220/$ at the BDC segment of the foreign exchange, while closing at N220/$ against N222/$ at the parallel market.

However, naira weakened against the dollar by N0.16k/$ or 0.08 percent to N198.26k/$ on Thursday from N198.42k/$ the previous day at the inter-bank foreign exchange market, according to data obtained from Financial Markets Dealers Quotations (FMDQ).

BusinessDay gathered that the CBN supplied two weeks dollar in one week to BDCs, which will bring down the price of dollar and curb speculation.

Andrew Elueni, managing director/CEO, Flawless Capital Limited, told BusinessDay that the CBN supplied dollar to some BDC operators on Thursday after supplying other BDCs on Wednesday. The CBN will supply additional $30,000 to BDCs today.

Dealers told Reuters that banks would struggle to buy the US currency on behalf of customers, while the ban on dollar cash deposits would stem speculation.

The CBN in June curbed access to the inter-bank currency market to preserve its foreign reserves, and this led to the diversion of dollar demand to the black market, weakening the local currency.

At the money market, the overnight lending rate on Thursday jumped to 50 percent from 12 percent the previous day, amid low liquidity as some banks scrambled to stock up on the naira to back up their forex demand with the central bank.

Dollar pipu, una go fit allow us make we rest? Your mata don dey tire me o.

Manonamission:
Dollar pipu, una go fit allow us make we rest? Your mata don dey tire me o.

I think they should just create a thread of their own for forex so that some of can concentrate on getting tips for potential bullish stocks

Una see transcorp?
2.79

Modified - now 2.8
Plz I need bid n offer

TRANSCORP AND OANDO SHOULD BE GOOD TO GO FOLKS THANK GOD VERY SOON $1 = 1# VERY VERY SOON

mercylicious:
Una see transcorp?
2.79

Modified - now 2.8
Plz I need bid n offer

me don run comot for 2.8

mercylicious:
Una see transcorp?
2.79

Modified - now 2.8
Plz I need bid n offer

BID 8M OFFER 9M

chukyjones:
me don run comot for 2.8

IT IS STILL GOING TO 3.5

TRANSCORP FULL BID NO MORE OFFER

Jeez. Now 2.88
2.88 was d last resistance.
Can it pass this?
6m bid, no offer.

Its already going down.now 2.85

In the words of @myjoy08: "Learn to swim with the sharks"