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Market Ends Q3’17 With 7.01% Gain as FMDQ Approves Registration of Wema Bank N50bn Commercial Paper

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Monday, October 02, 2017, 1.00PM research@proshareng.com 

Nigerian Stock Market maintained negative stance as the key benchmark indicator, NSEASI, closed the month of September 2017 in the red zone with -0.18% loss as against -0.96% downtrend recorded in the month of August 2017 while NSE ASI YTD performance stands at +31.87% at the end of the month under review. 

Also, NSEASI closed Q3’17 with +7.01% gain as against +29.79% in Q2’17 and -5.05% loss in Q1’17 respectively. 

On market development and regulations, the Administrative Proceedings Committee (APC) of the Securities and Exchange Commission (SEC) delivered the biggest judgement in the Nigerian Capital Market as is it banned the CEO of Partnership Investment Company Plc and Partnership Securities Limited for life from holding directorship position in any public company in Nigeria for his unprofessional conduct in respect of the activities of both companies and also withdrawn the operating license of the companies. Also, the Chairman of the companies was suspended for a period of 5 years from engaging in capital market activities in the Nigerian Capital Market. 

Furthermore, the NSE held its 56th AGM as it Elects New Council Members and Votes Mr. Abimbola Ogunbanjo as the new President of National Council of the Exchange.

The FMDQ OTC markets in its September 2017 spotlight highlighted that the 15th Naira-settled OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, September 20, 2017. Other activities around the FMDQ OTC market are the 2017 Nigerian Debt Capital Markets Conference & Awards held by FMDQ; and the Approval of the Registration of Wema Bank’s ₦50.00 billion 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 September 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 research@proshareng.com 

Thank you.                                                                                      

 

For: Analyst Editorial Board

Reshu BAGGA
CEO, The Analyst 

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