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Market Sustains Negative Sentiment in November; Proshare Migrates WebTV to its Main Hub -Nov '16 SSS

Proshare

Thursday, December 01, 2016, 07.36 AM / research@proshareng.com

Nigeria’s Equities Market sustains negative sentiment in the month of November 2016 to record –7.27% loss as against -3.94% loss recorded in October 2016 as negative sentiment persists while current NSE ASI performance depressed market YTD performance further in the negative territory to stand at -11.87% from -4.97% recorded in October 2016.

On market development and regulations, the Securities & Exchange Commission at the last Capital Market Committee (CMC) Meeting for 2016 reviewed series of efforts at repositioning the Nigerian Capital Market for growth.
Parts of which include improving financial literacy, level of materialization in both NSE and NASD Securities Exchanges and a review of Companies and Allied Matters Act (CAMA) and Investment $ Securities Act (ISA) among others while the successful review of these laws are expected to help open up the market to accommodate current trends and global best practices.

After the successful migration of its
Economy and Politics website in September 2016, Proshare Nigeria Limited, Nigeria’s No1 Financial Information Hub, has also successfully completed the migration of its WebTV website to its main and new hub Proshare 10.0.

Proshare
WebTV houses videos and images on market events, conferences and other corporate events as it has remained a strategic media platform for NSE events, FBN Capital Annual Investors Conference, Nigeria South Africa Association, Nigeria British Chamber of Commerce events and so on.

The FMDQ OTC markets in its November spotlight highlighted that the fifth OTC FX Futures Contract Matures and Settles on FMDQ with notional amount of $421.72mm approximately on Wednesday, November 23, 2016. Other activities around the FMDQ OTC market are the admitting of ₦7.96bn Sterling Investment Management SPV Plc Bond and etc.

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 November 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

Reshu BAGGA

 

CEO, The Analyst

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