Market Sustains Negative Sentiment as Direct Cash Settlement System Sets for Market Debut

Proshare

Wednesday, December 02 2015, 02.55PM / sss@proshareng.com

The Equity Market maintained downtrend to close the month of November 2015 in red zone as NSEASI recorded -6.14% decline as against -6.53% recorded in the preceding month of October; while market YTD performance dropped further to stand at -20.98%.

Despite the sustained negative sentiment, market regulator in the course of their market development and regulatory function took another giant stride. At the end of third quarter Capital Market Committee (CMC) meeting, it was agreed that the Direct Cash Settlement System should take effect from January 2nd, 2016.

The Direct Cash Settlement System will ease the process of crediting proceeds arising from transaction on an investors account to its bank account directly from CSCS’ clearing and settlement system thereby eliminating the bottleneck of paying through the broker’s account which may be delayed for a few days.

Also, the Nigerian Stock Exchange launched the
NSE Trade Smart campaign which is expected to encourage investors to trade smartly by embracing the new e-trading technology put in place by various stockbrokers aided by the X-Gen Trading engine.

Pearl Awards Nigeria, the organizer of the prestigious PEARL Awards Nite held its
20th Anniversary of the Award, an avenue through which it has been promoting excellence in the Nigerian Capital Market.

It is pertinent to state that Proshare
WebTV, an add on complimentary service of Proshare NG was a recipient as it won the awards for “2015 Quality Capital Market Reporting Media Institution” while several other listed firms also won under various categories.

The height of activities in the month was the official
launch of the Online Publishers Association of Nigeria (OPAN) which represents highest standards in online publishing. The launch of OPAN is expected to help bring about credibility and best practice in online publishing.

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures even as we added/ a new section for additional 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 November 2015 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
Reshu BAGGA

 

CEO, The Analyst


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