NIC disappoints on day two of Trading
NIC's turnover on day two of trading dipped; from 1,002,540,000 Ugx on day one to a miserable 269,892 Ugx on day two. A massive difference of 1,002,270,108 a clear sign of market manipulation.
The NIC counter moved 4,410 shares at 60 Ugx maintaining its IPO day one price, the day trade was between African Alliance-buying and Dyer and Blair-selling.
Outstanding bids were 139,840 shares at a bid prices between 50-55 Ugx whereas outstanding offers totaled to 3,461,590 shares at an offer price between 60-70 Ugx.
Sudhir
Notably day one's market marker Crane Financials was missing in action a clear indication that day one had everything to do with Mr Sudhir Ruparelia legally manipulating the market.
Ofcourse the guys at the Exchange will tell you, "this is how markets behave"- But Star Traders' does not buy such reasoning- infact Star Traders' is launching an investigation in this circus from:
-Whether the allocation results were really genuine?
Otherwise how can you explain such a movement
1 comments :
hey Andrew here is followup:
Day 3: NIC price trades at 55 Ugx then back to 60 Ugx in a clear indication, in my opinion, of direction of Stock price. (Actual price- 59.9 rounded off to 60)
8,138,166 shares traded, turnover 487,624,960 Ugx,
Average price-60
Low-55
High-60
Outstanding bids-6,840
Outstanding offers-3,597,834
NIC trade statistics: 30th March 2010.
Andrew what do you think????
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