₦airaland Forum

The bearish performance of the Nigerian equities market continued into the fourth consecutive trading session yesterday on the back of losses in Dangote Cement, ETI and Access Bank.

As a result, the All-Share Index (ASI) fell by 0.39 per cent to 29,553.12 points as Year-to-Date loss worsened to -6.0per cent, while market capitalisation fell by N43.4 billion to N11.100 trillion.

At the sound of the closing gong, activity level worsened as volume and value traded dipped by 8.1 per cent and 48.9 per cent to 499.08 million units and N2.89 billion respectively, exchanged in 4,133 deals.

Across sectors, performance was largely bearish as 4 of 5 indices closed in the red. The Insurance Index declined the most, down 2.5 per cent as losses in Regal Insurance (-8.0 per cent) dragged the Index, while the Industrial Goods Index trailed, inching southward by 0.5 per cent following price depreciation in CAP (-9.89 per cent). Similarly, the Consumer Goods and Banking indices fell 0.4 per cent apiece due to sell-offs in Dangote Cement (-3.17 per cent) and Access Bank (-4.27 per cent). On the flip side, the Oil and Gas Index extended its gains into another trading session following sustained buying interest in Forte Oil (+9.9 per cent).

Investors sentiment as measured by market breadth (advance/decline ratio) strengthened to 0.6x from yesterday’s 0.3x as 11 stocks advanced relative to 19 stocks that declined. The top performing stocks were CHAMS (+10.0 per cent), Forte Oil (+9.8 per cent) and Vitafoam (+7.8 per cent) while the least performing stocks for the day were CAP (-9.9 per cent), Unity Bank (-9.3 per cent) and Eterna (-8.0 per cent). Reacting, analysts at Afrinvest said, “We do not expect this negative performance to persist in the final trading session of the week as we anticipate that investors will take advantage of the attractively priced stocks”.

https://www.akelicious.net/2019/04/bearish-trading-persist-at-nse-as.html

The way wet this this de go down we go soon discover wetin pass the oil wet Nigeria don already get

Quote me and get banned.
Don’t say I didn’t warn you

Hum

Buhari effect

Access bank is having this current negative profit even after acquiring diamond bank I thought they are suppose to be the highest gainers base on the large stream of their current customers and network coverage.

Which bear? Nigeria no get winter

Investors are taking profit...

Nicklaus619:
Access bank is having this current negative profit even after acquiring diamond bank I thought they are suppose to be the highest gainers base on the large stream of their current customers and network coverage.

Investors are taking profit post-earnings season and after the price rise in the run-up to the closing of the merger...
Nonetheless, Access is going to have to deal with some post-merger integration headwinds (albeit it has a track-record from prior mergers).

/
Market goes up and down.

What matters is the long-term trend.


//

9jaRealist:
Investors are taking profit post-earnings season and after the price rise in the run-up to the closing of the merger...
Nonetheless, Access is going to have to deal with some post-merger integration headwinds (albeit it has a track-record from prior mergers).

Bro do u think this arrangement between diamond and access was a merger ? I don't think so, it is crystal clear that diamond bank highest share holder has sold it share to diamond bank making it possible for easy acquisition, that was why they changed diamond bank name to access bank, originally, if it was a merger, they were suppose to come up with a different name aside diamond or access, take oceanic bank for example that merged and now Eco bank.

f u c k. b u h a r i

The shares, indicies, pokicies, currency and others is well expected. It will lead to a stronger Dollar. Men boys are getting richer and richer as the government in power keeps making a negative trend...

Nicklaus619:
Bro do u think this arrangement between diamond and access was a merger ? I don't think so, it is crystal clear that diamond bank highest share holder has sold it share to diamond bank making it possible for easy acquisition, that was why they changed diamond bank name to access bank, originally, if it was a merger, they were suppose to come up with a different name aside diamond or access, take oceanic bank for example that merged and now Eco bank.

It is still merger because Access bank has to loose it logo. Also lost it colour to Diamond bank. Though Access bank has upper hand by retaining it name.

Nicklaus619:
Access bank is having this current negative profit even after acquiring diamond bank I thought they are suppose to be the highest gainers base on the large stream of their current customers and network coverage.

When you acquire a company, you acquire both the asset and liabilities. And from record, diamond has a lot of bad debts going on. So it will take awhile for access to recover

Later some id...s will tell us Buhari is doing well.

alexvatt:
It is still merger because Access bank has to loose it logo. Also lost it colour to Diamond bank. Though Access bank has upper hand by retaining it name.

Is it a logo that determines a merger ?
Listen diamond Bank is distressed and the authorities do not want a run on the bank. They cannot handle any more distressed companies, AMCON is barely floating as it is, hence this news spin of Access / Diamond 'merger'. There is no merger here. A merger is a combination of equals. This is a takeover of a bankrupt business

Nicklaus619:
Bro do u think this arrangement between diamond and access was a merger? I don't think so, it is crystal clear that diamond bank highest share holder has sold it share to diamond bank making it possible for easy acquisition, that was why they changed diamond bank name to access bank, originally, if it was a merger, they were suppose to come up with a different name aside diamond or access, take oceanic bank for example that merged and now Eco bank.

Of course, the practical effect is clearly an acquisition...
But in order to use the easiest(?) process, it was structured as a scheme of arrangement (and so, technically a merger/amalgamation).

I never see bear wey reach btc own jare

alexvatt:
It is still merger because Access bank has to loose it logo. Also lost it colour to Diamond bank. Though Access bank has upper hand by retaining it name.

Hello Alex...I am back. I was banned by biased mods who keep removing my posts till today. May ban lasted for one and a half years. This is the true nature of the mods here using Seuns privileges to abuse their power. I have emailed him directly and he has assured me that he is monitoring the situation.