Stock Market Closes July Downtick; Retracts by -5.36% - July '16 SSS Report

Wednesday, August 03, 2016, 05.06pm / sss@proshareng.com

Nigerian Stock market closed the month of July 2016 in the red zone as NSEASI recorded -5.36% loss, as against +6.99% gain recorded in the month of June 2016, while market YTD performance stands at -2.21%.

On market development and regulations, the NSE in the course of its market activities in the month welcomed Dangote Cement Plc to its Issuers Share Price Information Service. This service is meant to enable companies listed on the NSE display their respective share price on the homepage of their corporate website in Real Time or Delayed interval.

The NASD OTC Securities Exchange signed a MoU with the League Management Company (LMC). This is expected to be the beginning of a merging of financial and sporting interests in an unprecedented manner in Nigeria and help Nigerian football clubs harness the power of the capital market to develop reliable funding channels.

The FMDQ OTC market in its July spotlight highlighted that the first contract on the Naira-settled OTC FX Futures Market matured and settled on July 27, 2016 at N279/$ totaling about N26.73 mln. Other activities around the FMDQ OTC market is the Simulation and Sensitisation Sessions on new Trading System for the Nigerian Pension Industry and the hosting of the International Monetary Fund

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 July 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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