COURAGE TO INVEST
COURAGE THEY SAY, IS NOT THE ABSENCE OF FEAR, BUT THE WILLINGNESS TO GO ON. YES SOMETIMES WE ARE SO AFRAID THAT WE ALLOW THE FEAR TO TIE US DOWN AND AS SUCH WE LOOSE GREAT OPPORTUNITIES. WE MUST NOT LET OUR FEARS TO TIES US DOWN IF WE WANT TO MOVE AHEAD. LET US SEE THE MARKET REPORT FROM CASHCRAFT FOR YESTERDAY..
At the close of trading today, total number of 180,128,996 units were traded in 5,595 deals
valued at N1.243 billion. The number of securities that gained today rose to 28 from 17 gainers
of Friday. Ten stocks out of the 16 traded in the banking sector lost while only three gained.
Banking, Petroleum and Marketing, Food and Beverages and Breweries sectors contributed
massively to the decline of market indicators while Building and Insurance sectors fared a bit
better. All-share index declined today by 2.13% as against 0.781 of the last trading day,
while market capitalization dipped by N114.80 billion.
The most traded stock for the day was Guaranty Trust Bank which traded 20.432 million, followedby Sterling bank, Continental Insurance, Firstbank and Diamond bank with 16.886 million, 9.850 million, 9.515 million and 9.247 million respectively. Access bank Plc and Rtbriscoe gained the highest Percentage of 4.94%, followed by Maybaker of 4.93%, Flourmill of 4.91% and Continental Insurance of 4.88%. On the decline side, Eternal Oil, Evansmed, Guinness, Mobil, Nigerian Breweries and Nigerian Bottling Company lost maximum of 5% with AP and CAP followed by 4.99%.
The present trend of the market shows that investors have not mustered enough courage to participate in the market, even in those banks that have been audited & cleared and the non-banking stocks,as all of them are still fluctuating. This trend may persist for some time until all is well with the banking industry and a level of stability is attained in the system.
The audited result of Diamond bank plc was released on Friday with a dividend of 9k per share. The closure and payment dates still remain 14th and 28th of September respectively.The dip in the result was as a result of loan loss provision of N24.62 billion as against N4.87 billion provided last year. This result may create a pessimistic stance for the stocks of other banks that have not been audited or that are yet to release their results since it is assumed that all banks have bad loans they would make provision for.
valued at N1.243 billion. The number of securities that gained today rose to 28 from 17 gainers
of Friday. Ten stocks out of the 16 traded in the banking sector lost while only three gained.
Banking, Petroleum and Marketing, Food and Beverages and Breweries sectors contributed
massively to the decline of market indicators while Building and Insurance sectors fared a bit
better. All-share index declined today by 2.13% as against 0.781 of the last trading day,
while market capitalization dipped by N114.80 billion.
The most traded stock for the day was Guaranty Trust Bank which traded 20.432 million, followedby Sterling bank, Continental Insurance, Firstbank and Diamond bank with 16.886 million, 9.850 million, 9.515 million and 9.247 million respectively. Access bank Plc and Rtbriscoe gained the highest Percentage of 4.94%, followed by Maybaker of 4.93%, Flourmill of 4.91% and Continental Insurance of 4.88%. On the decline side, Eternal Oil, Evansmed, Guinness, Mobil, Nigerian Breweries and Nigerian Bottling Company lost maximum of 5% with AP and CAP followed by 4.99%.
The present trend of the market shows that investors have not mustered enough courage to participate in the market, even in those banks that have been audited & cleared and the non-banking stocks,as all of them are still fluctuating. This trend may persist for some time until all is well with the banking industry and a level of stability is attained in the system.
The audited result of Diamond bank plc was released on Friday with a dividend of 9k per share. The closure and payment dates still remain 14th and 28th of September respectively.The dip in the result was as a result of loan loss provision of N24.62 billion as against N4.87 billion provided last year. This result may create a pessimistic stance for the stocks of other banks that have not been audited or that are yet to release their results since it is assumed that all banks have bad loans they would make provision for.
WELL WE CAN SEE THAT IF WE BELIEVE IN THIS COUNTRY AND THAT THIS NATION WE NOT GO INTO EXTINCTION, THEN WE KNOW THAT IT CANNOT SURVIVE WITHOUT THE CAPITAL MARKET SINCE THE MARKET IS THE ENGINE ROOM OF THE ECONOMY. WHAT ALL THESE MEAN IS THAT, THE STOCKS WILL DEFINATELY REBOUND IN PRICE WITH TIME. THE DIFFERENCE BETWEEN HERE AND THERE IS T=TIME. SO TAKE COURAGE MY DEAR FRIENDS, INVEST NOW.
WE ARE AVAILABLE TO HELP YOU IMPROVE YOUR SKILLS BY READING, SUBCRIBE NOW TO BottomLINE NEWSLETTER CALL AKATA ON 08055816625 OR 08037754610 akatamax@yahoo.com, akatamax@hotmail.com. WE STRONGLY BELIEVE THAT IF YOU SUCCEED WE WILL NOT FAIL, LETS US BE PART OF YOUR SUCCESS STORY.
posted by max @ 9:18 AM
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