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Stock Market Closes Q2 2018 in Red; FMDQ Unveils Clearing Infrastructure

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Tuesday, July 03, 2018 11:00 AM /research@proshareng.com

 

Nigerian Stock Market closed the month of June 2018 with a gain as NSEASI Inches up by +0.46% as against -7.67% loss recorded in the month of May 2018 while market YTD performance returns to positive territory as it stood at +0.09% at the end of the month under review. 

The performance recorded also implies that the first half of the year ended with a marginal gain. Market ends Q2 2018 with -7.77% loss as against +8.53% gain recorded in Q1 2018. 

On market development and regulation, the Securities and Exchange Commission, proposed amendments to its rules on securities clearing and settlement company; company that may file earnings forecasts; and publication of Interim Financial Statement. 

Also, the Nigerian Stock Exchange reviewed its Equities Market Structure, which becomes effective in July 2018. The new Market Structure is expected to create a level playing field for all market participants and enable investors deploy broader trading strategies, thus enjoy best execution and benefit from enhanced market depth. 

The FMDQ OTC markets in its June 2018 spotlight highlighted that the 24th Naira-OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, June 27, 2018. Other activities around the FMDQ OTC market are: the Unveiling of Critical Clearing Infrastructure and the Quotation of the 20.00 Billion Coronation Merchant Bank Limited Commercial Papers on the OTC Exchange. 

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 June 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


Proshare Nigeria Pvt. Ltd.


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