Positive Trend Continues After General Elections – April ‘15 SSS Report


Monday, May 04, 2015 1.05PM / sss@proshareng.com

The Aftermath of the Presidential Election which ended relatively peaceful, has reflected positive trends in market activities in the month of April, as MTD market performance stands at +9.33% while YTD performance also closed with +0.15% gains to move out of the red zone.

Despite the positive stance, primary market activities such as IPOs and rights issues which remain a barometer with which the market can also be gauged was relatively non-active in the period under review while the apex regulator continue to push new rules and regulation into the market.

The Securities & Exchange Commission in its effort to develop the Nigerian capital market continued to push forward draft rules and regulations. Prominent of them is the rules on the demutualization of Securities Exchanges in Nigeria.

Also, the commission released other rules and regulations for the purpose of giving effect to the Investments and Securities Act and they include Code of Conduct for Rating Agencies, Code of Conduct for Underwriters, Code of Conduct for Trustees, Rule on Trading in unlisted securities, Rules on Securitization and Rules on National Investor Protection Fund.

As activities in the month runs to an end, the Acting Director-General of SEC, Mounir Gwarzo was confirmed by President Goodluck Jonathan as the substantive Director-General of the commission while the former Governor of Anambra State, Peter Obi, was also appointed as the new chairman of the SEC Board.

In this edition of The Nigerian Capital Market Service Report, we continued the updates of our various data section with latest updates required in the report.  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 April 2015 SSS Quality Report is a snapshot and aide memoire of these developments as we keep tracking milestones that the investing public should be aware of.
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