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Market Sustains Negative Sentiment Amidst Continuous Sell-Off as Outlooks Project Bleak 2016

Service Report	4953 VIEWS
Service Report
4953 VIEWS

Wednesday, February 03 2016, 11.25AM / sss@proshareng.com

The Equities Market closed the month of January 2016 in the negative territory as NSEASI recorded -16.50% loss as against +4.59% gain recorded in the last month of 2015 - December. It is pertinent to state that the Nigerian Stock Market is not alone in the sell-off; it is a global trend as highlighted in our report here.

While it is no longer news that the market performed poorly in 2015, market analysts have continued to point out in their 2016 market outlook that the market may go the way it went in 2015 considering the fact that a few factors that impacted the market still remain.

Furthermore, the Nigerian Stock Exchange in its 2016 outlook presentation seems to acknowledge the position of market analysts as it pointed out that the downturn in 2015 has continued into the New Year. Thus, anticipating 2016 to be a challenging year for the capital market and the domestic economy.

The NSE outlook states further that the Exchange will continue to work with the current administration as the Nigerian Capital Market can help finance the FGN’s proposed budget deficit for 2016 and the implementation of its Medium Term Expenditure Framework (MTEF)

On product development, Cordros Capital announced the launch of its live trading platform known as Cordros TradeButton. The Cordros TradeButton launch is the first to be witnessed in the current year while we envisage more of this in the market as more brokerage firms continue to comply with the minimum operating standards.

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 January 2016 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 sss@proshareng.com

Thank you.

For: Analyst Editorial Board