Market Closes May Stronger as FMDQ Commences Publication of Weekly Turnover in I & E FX Window


Friday, June 02, 2017, 1.45 PM 

Nigerian Stock Market sustained third consecutive month of positive posture as NSEASI closed the month of May 2017 in the green zone with +14.52% gain recorded as against +0.95% gain recorded in the month of April 2017 while NSE ASI YTD performance stands at +9.76% at the end of the month under review. 

On market development and regulations, the Nigerian Stock Exchange announced the automation of Rights trading and settlement effective May 8th, 2017. This initiative will enable shareholders to sell their subscription rights efficiently and at fair prices & market value. 

Also, the NSE held its inaugural REITs conference which was expected to explore growth potentials and opportunities inherent in the REITs market and thus witnessed speakers discuss about how to unlock the potentials of the housing sector. 

Furthermore, the Securities & Exchange Commission directed all Capital Market Experts and professionals that are yet to comply with its earlier directive on online registration update to do so on or before 31st July, 2017 as non-compliant firms will be considered inactive. 

The FMDQ OTC markets in its May 2017 spotlight highlighted that the 11th Naira-settled OTC FX Futures Contract Matured and Settled on FMDQ with a notional amount of $253.61mm approximately on Wednesday, May 24, 2017. Other activities around the FMDQ OTC market are the commencement of the publication of weekly turnover in Investors’ & Exporters’ FX window as well as the approved registration of The Rand Merchant Bank N80bn Commercial Paper Programme. 

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 May 2017 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 

Thank you.                                                                               

For: Analyst Editorial Board 

Reshu BAGGA 

CEO, The Analyst

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