Tuesday, May 20, 2008

Wanted NSE II

Accurate NSE data

Yesterday, I flipped through all the business news stories, and noted stock market rather flat/ with little trade activity But the 9 PM Nation news had Great News for Nation Media Group and Equity Bank whose shares jumped by 20 shillings to 356 and 15 shillings to 276 respectively. Funnily that had not caught my eye, on my phone updates, the Rich newsletter or even the KTN news. The Nation news ticker did not have the NMG share price, but it had Equity down by 1 to 259 shillings – and watching business news on Citizen TV later had Nation down by 17 shillings to 333 as did the CNBC Africa stock ticker.

It seems that since the NSE stopped updating their site on May 7, there seems to be a wide interpretation of how the days trading went. NSE Update: they now have yesterday’s prices list, and will probably follow with the company announcements made over the last two weeks

Stockbroker director info
In dealing with rogue stockbrokers, investors should be vigilant, read their statements from stockbrokers and the CDS, read newspapers, especial the Business Daily, browse stockskenya and other online forums – and visit and observe their banks and brokers.

There are warning signs given out which some heed. There are people who got out of pyramid schemes early and there are customers of Nyaga stockbrokers who observed the shady deals n their statement, complained and had their accounts "restored”. Some stayed on believing these errors, while others walked away before the fall, moving their share accounts intact.

A follow up to the where to buy shares series and following in the footsteps of great posts by Emerging Africa and Riba Capital. Many investors only came to know the director(s) of Nyaga Stockbrokers after the fall, so get to know the directors of the others before you invest

information from stockbroker websites, and Google caches

1. Afrika Investment Bank: Directors: Kibuga Kariithi, George Maina, Ken Wathome, Linus Gitahi.

2. Apex Africa: (no info online)

3. Bob Mathews: (no info online)

4. CFCFS wholly owned subsidiary of CFC and CFCFS Board of Directors comprises of Charles Njonjo - Chairman, Andrew Douglas Gregory, Sunil Sanger – MD, J.G Kiereini, Uday Jani, M. Soundararajan

5. Crossfield: Chairman-Nilesh J. Kotedia, J.T Swaley, Kumar Krishna (MD), Herbert Joseph Gore (GM)

6. Discount Securities (no info at site, but cache yields bios of directors– but which could be outdated; Chairman- William Murungu, Allan Simu, Executive Director- David Githaiga….)

7. Drummond Investment Bank (no information of directors at site, but Google cache yields bios of staff and their contacts – but which could be outdated: Ndungíu Gathinji (Chairman)….._)

8. Dyer & Blair : Has bios of key staff online: Jimnah Mbaru- Chairman, Mohammed Hassan- Joint Managing Director and Co-Chief Executive ……..)

9. Faida Investment Bank: Bob Karina (MD).

10. Kestrel Capital: Charles Field-Marsham, Founder and Director, Andre DeSimone, Executive Director.

11. Ngenye Kariuki is wholly owned by the Ngenye Kariuki family. (no info at site, but cache yields bios of staff and their contacts – but which could be outdated).

12. Reliable Securities (none), but Mr. Josephat Konzolo is the managing director.

13. Renaissance Capital: no info online but media reports have chief executive - Maina Mwangi, Terry Davidson, Mutahi Kagwe as directors

14. Solid Investments: Was previously 75% owned by Kithinji Kiragu. Other shareholders include the estates of former shareholders Mr. Cyrus Ita, a former Siakago MP and Mr. Dominic Kavuu, a former senior manager at Standard Chartered Bank (K). It will be renamed NIC Capital Securities after NIC acquired 58% for 157 million shillings in 2007.

15. Standard Investment Bank: (no info online) Media reports that Mr. Amish Gupta will be in charge after leaving Renaissance early this year.

16. Sterling Investments: Stanley Ngaine (Chairman), John E. Kirimi, Ahmed S. Ndope, David Ithanya.

17. Suntra: James H R Murigu (MD), Nguru Wachira (Chairman), George Ongaya-Okoth, David Kinyua Waweru, Mr. Fred Ngatia.

14 comments:

Maishinski said...

Doha Stock Market confiscates QR1mn (KES 18M) from broker

Doha, QATAR.

Published on gulf Times: Tuesday, 20 May, 2008, 01:40 AM Doha Time

THE disciplinary committee of the Doha Securities Market (DSM) is confiscating QR1mn worth bank guarantee of the brokerage firm, Islamic Financial Securities Company.

The decision was taken under the presidency of Judge Mohamed Abdullah al-Mohannadi, along with two other members from the DSM committee, says a report posted on the bourse’s website.

According to the disciplinary committee, the brokerage house was found to have violated DSM internal regulations.

The disciplinary committee has so far this year taken action against Qatar Securities Company, Dlala Brokerage and Gulf Warehousing by confiscating their bank guarantees worth QR2mn, QR500,000 and QR2mn, respectively, while Barwa Real Estate Company was warned of disciplinary action.

As you can see, it's easy to tame brokers - if you are sincere.

...erm, please remind me, why do we swallow the flimsy excuses given by NSE/CMA regarding Rogue Brokers?

Anonymous said...

How much money on average are some of these brokerage firms making? I recall reading somewhere that Dyer and Blair brought in about $6 million dollars in commissions last year.

Is this accurate?

Ssembonge said...

Kenyans should flee from stock-brokers who's ownership/directorship is not known.

It would not surprise me if NSE gets listed as one of the most corrupt institutions in Kenya. It's only a matter of time before they get onto TI's list.

Anonymous said...

NSE's own (outgoing) chairman JM was quoted in the media recently saying that brokers at NSE should learn to respect other people's property and the Rule of Law.

Doesn't get more candid than that!

CBK govenor is still fast asleep. Waiting for an industrywide crisis to act. Brokers and Investment banks ARE deposit taking organizations!

CMA - snoring so loudly I can hear them from miles away...

Finance Ministry - Now that Safcom is over, time for Amos to step up and tame these thugs!

Perhaps someone with dictatorial tendencies like Michuki is what we need at Finance Ministry.

Maishinski said...

Free career guide written by KENYANS for those who want to work in USA.

General Concepts can be applied in Europe and other places too...

Lets all make some dough and build our country!

But please if you are a doctor or teacher - dont leave Kenya - WE NEED YOU ON SITE!

http://www.mamamikes.com/careersguide/index.cfm

Cheers!
:-)

Proud Kikuyu Woman said...

Who among them would you recommend? Would it make any sense to have one investment account with a broker, another with an investment bank?

MainaT said...

Btw, if proposed CMA rules are passed, only AIB and probably two more will be compliant on the 25% maximum shareholding allowed for one individual.
Dealing with brokers comes with a "buyer beware" which is not that different from buying a car. And this is not just a Kenya-specific issue.

HATUA said...

Brokers at times can be very dissappointing espcially if you hold are small portfolio, choose the right broker, try atleast to have a specific person who will hold your portfolio or track it (even if it will mean parting with some few cents).

Anonymous said...

"Buyer Beware" applies to the transaction. In shares it means:-

"do your research about the company you invest in and make your own decision as you will be the only person to blame for any repercussions of your investment decision."

It doesnt mean:- "brokers should feel free to steal from you - after all, its your fault that you 'gave them money'"!

1. Stealing client's money is a crime - period!


2. Using NSE for Money Laundering is a crime - period!

3. Selling a client's shares without consent is theft - period!

4. Selling a clients share with FORGED consent is 2 counts of crime, theft and forgery - period!

5. Working as cartels, withholding facts from investors, disregard for the law, ganging up to bail out rogue brokers to keep them in business etc is at the very least SHAMEFUL and CORRUPT.

These thugs must be made accountable ASAP.

Anonymous said...

Kibaki and the 4 thieves should do something about this.

Anonymous said...

Oops!

Kibaki and the 40 (FOURTY) thieves...

SG said...

The long arm of the law is slowly catching up with those who sell investors' shares. I know its happening. Some employees of some brokerage firm got fired. Some have gone under but they aint off the hook. Though the firm is trying its best, they might never get to recover all the money. And am not talking about the ones you know are under receivership, its happening undercover because the firm does not want to attract scrutiny by CMA, NSE, Media and the government. I once stated in this blog what was happening in that firm I dont know if anybody took it seriously. But it gives me a ray of hope that we might just improve the market

sharetipsinfo said...

Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
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Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM Hi,
It’s a well know fact that stock market is affected by elections and now Election 2009 are about to begin in some time so for sure they will also have some sort of impact on Indian stock market.
One can find complete report on Impact of elections on stock market Apart from Elections another major concern for Indian stock market is Inflation. There was a time when we were concerned about rising inflation but now we are conscious about this falling inflation.

So big question is what should day traders and investors do?

Frankly speaking day traders are least concerned about the market they simply follow trend and make maximum out of it. But yes investors should keep there portfolio light till the elections get over.

Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM make some extra money.


Please feel free to contact us for any query.


Regards
SHARETIPSINFO TEAM

Nifty Options Tips said...

very informative article ..... thanks a lot , i will try to visit again here in the future/;'[

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