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Stock Market Closes Lower in February 2018; FMDQ Admits 7-Year FGN Roads Sukuk to its Platform

Proshare

Tuesday, March 06, 2017 10:00AM /research@proshareng.com 


Nigerian Equities Market closed the month of February 2018 slightly lower as NSEASI dipped by -2.28% as against +15.95% uptrend recorded in the month of January 2018. Market YTD return stands at +13.30% at the end of the month under review. 

The Nigerian Stock Exchange (NSE) notified of the Effective Date of its Rules on Large Volume Trades and Block Divestment. This rule mandates all dealing members who wish to trade in any equity amounting to 5% or more, but less than thirty per cent (30%) of an Issuer’s total listed equities; (2) Eighty (80) million units or more, but less than thirty per cent (30%) of an Issuer’s total listed equities or trade value equal to, or in excess of Eight Hundred Million Naira (N800,000,000) to apply for and obtain the written approval of The Exchange before executing such large volume trades. The rule became effective on 12th February, 2018. 

The FMDQ OTC markets in its February 2018 spotlight highlighted that the 20th Naira- OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, February 28, 2018. Other activities around the FMDQ OTC market are: FMDQ Admits the 7-Year Federal Government of Nigeria Roads Sukuk to its Platform and the commemoration of the Listing of the Stanbic IBTC Dollar, Money Market and Bond Funds on its Platform. 

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 February 2018 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 research@proshareng.com 

Thank you. 

For: Analyst Editorial Board

Reshu BAGGA
CEO, The Analyst 

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