Market Records 8.53% Growth in Q1’18; Negative Sentiment Permeates in Subsequent Quarters

Proshare

Thursday, January 24, 2019 6:30AM /Proshare Research


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The Nigerian Stock Market recorded an impressive performance in Q1 2018 with +8.53% gain recorded. Negative market sentiment permeated the market in subsequent quarters as investor became wary of emerging global and domestic economic developments. The NSEASI dipped by -7.77% and -14.40% in Q2 and Q3 2018 respectively. The index dipped further by -4.08% in Q4 2018 as the market closed the year with a YTD of -17.81%.

 

The following factors could be said to be responsible for the dreary market performance at the end of the past year:

 

  • The exit of foreign investors due to the rise in domestic US interest rates as the Fed pushed up its policy rate to douse emerging inflationary pressure.
  • Anxiety by some foreign investors over the fortunes of the economy pre and post 2019 general elections; and
  •  Rising global yields on non-equity assets which continue to nudge global fund managers to reallocate portfolio funds towards fixed income securities and other alternative investment assets. 

 

NSE ASI Performance Review - 2018

YTD Market Performance Review

Periods

29-Dec-17

31-Dec-18

% Change

YTD

38,243.19

31,430.50

-17.81%

Monthly Market Performance

Jan '18

38,243.19

44,343.65

15.95%

Feb '18

44,343.65

43,330.54

-2.28%

Mar '18

43,330.54

41,504.51

-4.21%

Apr '18

41,504.51

41,268.01

-0.57%

May '18

41,268.01

38,104.54

-7.67%

Jun '18

38,104.54

38,278.55

0.46%

Jul '18

38,278.55

37,017.78

-3.29%

Aug '18

37,017.78

34,848.45

-5.86%

Sep '18

34,848.45

32,766.37

-5.97%

Oct '18

32,766.37

32,466.27

-0.92%

Nov '18

32,466.27

30,874.17

-4.90%

Dec '18

30,874.17

31,430.50

1.80%

Quarterly Market Performance

Q1

38,243.19

41,504.51

8.53%

Q2

41,504.51

38,278.55

-7.77%

Q3

38,278.55

32,766.37

-14.40%

Q4

32,766.37

31,430.50

-4.08%

Source:NSE, Proshare Research

 

Do feel free to share your opinions/observations and feedback with us vide content@proshareng.com and/or research@proshareng.com


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Related News From Proshare 2018 Review and 2019 Outlook Report - Surviving Uncertain Times In The Nigerian Financial Market

1.       Proshare NCM 2018 Review and 2019 Outlook (4) - Economic Indicators: Moving Forward Slowly

2.      Proshare NCM 2018 Review and 2019 Outlook (3) - African Markets Still Depressed

3.      Proshare NCM 2018 Review and 2019 Outlook (2)- Global Market in Tumbles

4.      Proshare NCM 2018 Review and 2019 Outlook (1)- Surviving Uncertain Times in the Nigerian Financial Market


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


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