The April 2021 Nigerian Capital Market Service Report - Proshare

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Tuesday, May 04, 2021 05:50 PM / Research@proshareng.com / Header Image Credit: EcoGraphics

 

Nigerian Stock Market closed the month of April 2021 in the green zone as market witnessed renewed bargain hunting as against negative posture recorded in the previous month of March 2021. The NSEASI inched up by +2.02% as against -1.90%  loss recorded in the month of March 2021 while the NASD USI closed northwards with +5.74% gain recorded at the end of the month under review as against +4.64% gain in March 2021.

 

YTD, the NSEASI ended the month under review in the negative territory with -1.08% loss while the NASD USI closed northwards with +7.76%.

 

On market development, regulation and investors protection, the Securities and Exchange Commission released an amendment to its rule on sub-brokers. This amendment recognized the creation of a new sub-section called "Sub-broker Serving Multiple Brokers Through a Digital Platform" and it is expected to help regulate the activities of the fintech platforms engaging in market related activities in conjunction with registered CMOs.

 

Furthermore, it also created a new rule (Rule 76) on risk management which all sub-brokers using digital platforms are expected to comply with. The amendments and the new rule can be accessed here.

 

Also, the Nigerian Exchange Group, during the month under review, announced the completion of its demutualisation exercise along with the CEOs of the various entities that emerged. Following this, the new corporate brands of the various entities have been made public and the new share of the NGX admitted to trade on the NASD OTC Exchange.

 

In an attempt to protect the 31m costumers and the minority shareholders of First Bank, the Central Bank of Nigeria (CBN) removed the boards of the bank and its parent company (FBN Holdings Plc) due to the announcement of the bank to replace its Managing Director, Dr Sola Adeduntan, without the prior knowledge and approval of the CBN. The decision of the sacked board of First Bank has been reversed by the CBN as Dr Sola Adeduntan has been re-instated while independent analysis on the CBN action on the bank can be accessed here.

 

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 April 2021 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

Saheed KIARIBE

Executive Director, Research Services

 

Chart 1: Capital Market Size By Exchanges – April 2021

Proshare Nigeria Pvt. Ltd.

 


Proshare Nigeria Pvt. Ltd.


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 Proshare Nigeria Pvt. Ltd.



Proshare Nigeria Pvt. Ltd.

 

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