The July 2018 Nigerian Capital Market Service Report - Proshare

Proshare

Thursday, August 02, 2018 05:00 PM /research@proshareng.com 

Nigerian Stock Market closed the month of July 2018 downwards as NSEASI Dipped by -3.29% as against +0.46% gain recorded in the month of June 2018 while market YTD performance returns to negative territory as it stood at -3.20% at the end of the month under review. 

On market development, regulation and investors’ protection, the Securities and Exchange Commission, in the course of the month under review, reiterated that neither MTN Nigeria nor any of its advisers has filed any IPO application with the commission. The commission welcomes filings aimed at deepening and broadening the capital market and stands ready to provide the necessary regulatory support if need be. 

Also, the Nigerian Stock Exchange’s rule on nominal transfer took effect during the month. The new rule requires any securities holder that wishes to transfer his securities by way of a nominal transfer to apply to The Exchange through his Stockbroker for transfer of the securities while the Stockbroker is expected to carry out the requisite Know-Your-Client (KYC) enquiries on the securities holder and the proposed Transferee. 

The FMDQ OTC markets in its July 2018 spotlight highlighted that the 25th Naira-OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, July 25, 2018. Other activities around the FMDQ OTC market are: FMDQ and Thomson Reuters Partner to Strengthen Nigerian Financial Market and the Quotation of the N50.00 Billion Dangote Cement Commercial Papers (CP) on its platform which is the largest CP issuance by a corporate in Nigeria. 

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 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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