It has been a tough month for the Nigerian Stock Exchange this month with most stocks skidding off into the negative territory. The All share index currently post a −1.27% return Month to date already. Despite the negative vibes some stocks have continued to march on into bullish territories for all the right or wrong reasons you can think about. It is a month where a stock came from nowhere to gain over 100%. Do you have these stocks in your portfolio? If you did you should be riding high right now into double digit returns.
These are the stocks with the best returns for the Month of August so far. [upme_private]
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Which of these stocks is in your portfolio and when did you buy them? Type a comment below or send us an email to (info@nairametrics.com)[/upme_private]
i just added 7up to my portfolio this week. I have been trying hard to lay my hands on it but just couldn’t get it.
I have a question regarding how the prices for stocks are determined. That of 7up is particularly bewildering. I know they have very low outstanding shares and low volumes traded daily but the share price rarely moves.
So for example when the share price was at 115, intraday prices would go as high as 126 or so and then it would close flat at 115. This would happen for like 7-10 days maybe more or less then all of a sudden it would shoot up to maybe 120-ish and then the same thing happens again. The small units I bought were purchased at very different prices – some were at the highest for the day and some close to the opening price. Hope you can help shed some laugh on this.
According to the NSE Opening and closing prices shall be as generated by the trading engine on any given day. How the engine works is what I really don’t know. The NSE rules also suggest they will register a share price movement if 50,000 units are sold for stocks in the A category which I believe Seven Up belongs to. Even though I see about 70k volume exchanged hands. So, I just guess there wasn’t enough activity to register a price change. So basically the price you paid for a stock can be very different from the price registered at the close of business. Whilst the price on the board is generated by the trading engine, the price you actually pay depends on demand and supply as well as the instruction you give your broker. For example, if it were me I tell my stockbroker don’t buy above N126. That way he can bid lower or at that price. But then it depends on who is selling or buying if reverse is the case.
i don’t really understand d stock market again may b bcos of naira devaluation