Thursday, January 12, 2016 4.58PM/Proshare WebTV
The Nigeria stock exchange is optimistic that in 2017, there will be a revival of supplementary listings in the market coupled with the return of new issuance market and potentially one Initial Public Offer (IPO).
This was the assertion 0f the Chief Executive Officer of the Nigeria stock exchange Mr. Oscar Onyema at the 2016 market recap and 2017 outlook at the exchange house, Lagos.
Considering a challenging 2016 market year, Onyema highlighted that the economic recession in Nigeria impacted the equity market space.
Looking at some of the sectors, the NSE Industrial average dropped by -26.37% while the Oil and Gas sector declined by -12.31% in performance, NSE REITs dropped by -49.48% and the Vetiva ETF was not left out, with a massive price decline of 20.5%.
In the area of investments, the foreign investments witnessed a 45% drop in 2016, due to the loss of confidence in the forex management, weak corporate performance and the Q2 2016 successive negative GDP growth which led to the recession.
Speaking further, Onyema said 2016 was the year Nigeria experienced the lowest level of investment in the last 12yrs, with Foreign Investments dropping by 69.79% and Domestic dropping by 56.79%.
The NSE, according to the CEO, experienced some resilience with the Premium Board index closing in a positive zone for 2016, with 6.98% return. For the Banking sub-sector, it was an improved performance of 2.17%.
Overall the NSE closed 2016 in a negative zone with -6.17% loss, which reflected a -6.12% decline in the equity market capitalization.
Mr Onyema listed the NSE milestones of 2016, some of which include: setting the roadmap for demutualization, derivatives product development, monetization of market suites, development of a competitive price structure, launch of Vetiva S&P Nigeria Sovereign Bond ETF, launch of SMARTs solution for effective/efficient market surveillance and roll out of the corporate governance rating system (CGRS) for listed companies.
Giving the market outlook for 2017, the NSE boss said Nigeria is expected to recover from the recession with a modest growth of 0.6% which hinges on vigour for fiscal policy implementation, lower rate of disruptions of oil infrastructure, positive impact of the Anti-corruption crusade focused on improving the ease of doing business, policies geared towards driving economic productivity and the crude oil price going up above the FG benchmark of $42.5.
From the 2017 NSE strategic outlook, Onyema outlined the focus to include the following; developing innovative products for exchange traded derivatives, focusing on becoming an agile and demutualized exchange, enhancing cross-border integration and engaging private sector issuers for listings across all of the product categories.
The 2016 market recap and 2017 market outlook was attended by analysts, broker-dealers and capital market correspondents across the country.
1. NSE 2016 Market Recap and Outlook for 2017
2. Trading Statistics in 2016 - UBA, WEMANK Top Market Total Volume in 2016
3. Industrial Goods Sector – DANGCEM, BETAGLAS & 9 Others Record Positive EPS Figure in 2016
4. ICT Sector – ETRANZACT Records +64.47% Gain in 2016
5. Nigerian Stock Market: Review of 2016 and Outlook for 2017
6. Extract from Financials - ETI Tops Companies by Turnover as DANGCEM Leads on PAT
7. 2017 in Perspective: 8 Stocks to BUY and HOLD in 2017....
8. 82 Quoted Companies Declared Dividends and Bonuses in 2016
9. 38 out of 47 Stocks Listed Between 2008 and 2016 Trade Below Their Listing Prices
10. 7 Stocks With PE Ratio Within Average Market Acceptable Ratio
11. Consumer Goods Sector – NESTLE, CHAMPION and NB Record Over 1,000 PE Ratio
12. Healthcare Sector Records No Gainer as EKOCORP Tops on EPS and PE Ratio
13. Real Estate Sector -UAC-PROP Drops by -62.56%; Records 164.84 PE Ratio
14. Financial Services Sector – NESF Records 47.42 EPS Ratio as Banking Stocks Dominate Gainers List.
15. Conglomerates Sector – TRANSCORP Records Negative EPS as AGLEVENT Records +35.48% Gain.
16. Nigeria’s Economic Indicators in 2016
17. 45 Resignations Announced by Quoted Companies in 2016
18. 104 Appointments Made by Quoted Companies in 2016
19. Agriculture Sector – PRESCO Tops on EPS as LIVESTOCK Tops on PE Ratio
20. Foreign Portfolio Participation in Equity Trading Drops in 2016
21. Stocks You Shouldn’t Touch – 62 Stocks Record No Price Movement in 2016
22. Stocks from the Final Services Sector Dominate the List of Penny Stocks in 2016
23. Santa Claus Rally: Stocks on Radar as December effects drive prices
24. NSE ASI Performance Review and How Key Sectors Fared in 2016
25. Egypt, Zimbabwe Stock Markets Lead African Markets in 2016 as Lusaka Exchange Top Losers
26. Argentina, Brazil Lead Performing Global Markets in 2016 as Madrid Exchange Leads Otherwise
27. Top Five Gainers and Losers on NSE in 2016
28. Movers and Shakers in 2016 -GUARANTY, SEPLAT Record Growth in Market CAP as FO, WAPCO Lead Otherwise
29. Global Market: Argentina, RTS Exchanges Top Performing Stock Markets in 2015
30. African Stocks record sterling returns among top global exchanges
31. Argentina records +98.38% 2013 YTD gains to lead Global Exchanges; NSE ASI makes top
32. 10 Best Performing Stock Markets in Q3 2013
33. Kenya, Nigeria lead Top 10 Performing African Exchanges
34. Global Market: Argentina, Italy Top Best Performing Stock Markets in the World