October 02, 2019 12:00 PM / Research@proshareng.com
Nigerian Stock Market closed the month of September 2019 in the positive territory as market halts negative sentiment witnessed in the last three months. The NSEASI inches up by +0.38% as against -0.69% loss recorded in the month of August 2019 while the NASD USI closed southwards with -2.89% loss recorded at the end of the month under review as against -0.50% loss in August 2019.
Furthermore, the NSEASI ended Q3 2019 in the negative territory with -7.80% loss as against -3.46% loss in Q2 2019 and -1.24% loss in Q1 2019 while the NASD USI closed the quarter southwards with -6.26% loss as against -1.51% loss in Q2 2019 and +2.31% gain recorded in Q1 2019.
YTD, the NSEASI has shed -12.09% while the NASD USI also shed -5.54% as at the end of September 2019.
On market development, regulation and investors protection, the Securities and Exchange Commission has announced the exposure of New Rule on fee structure which shall apply to the registration of existing fixed income securities. This also extends to dual listings. The introduction of a cap serves in fee structure is to serve as an incentive to attract big ticket issues for listing in the Nigerian market.
Furthermore, The Nigerian Stock Exchange has proposed amendments to its rules relating to board meeting and general meetings of issuers. In the same vein, the Exchange also proposed amendments to its dealing members rules on net liquid capital requirements, prohibition of manipulation of financial statements etc. Comments on the proposed amendments are expected not later than the close of business on October 24, 2019.
In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively.
In all, the September 2019 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide firstname.lastname@example.org
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