November 29, 2019 05:00 PM / Research@proshareng.com
Equities Market closed the month of November 2019 in green as market witnessed renewed bargain hunting during the month under review. The NSEASI inches up by +2.45% as against -4.62% loss recorded in the month of October 2019 while the NASD USI closed southwards with -0.92% loss recorded at the end of the month under review as against -0.05% loss in October 2019.
YTD, the NSEASI has shed -16.09% while the NASD USI also shed -6.46% as at the end of November 2019.
On market development, regulation and investors protection, the Securities and Exchange Commission has proposed amendments to Schedule 1 of its Rules and Regulations on Registration Fees, Minimum Capital Requirement, Securities & Others. Also, the commission proposed amendments to its Rules on Fidelity Bond and Removal from Listing.
The proposed amendments to the rule on fidelity bond is expected to exempt capital market experts/professionals from maintaining fidelity bonds and enable the establishment of an insurance product for Dealing Members of securities exchanges to cover the risks associated with stockbroking operations and protect investors in the event of the occurrence of the risk or loss insured while the proposal on delisting requests an issuer to notify the Commission prior to delisting when such initiative is from the issuer, it is proposed for the concerned Exchange to similarly notify the Commission before delisting the issuer.
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 November 2019 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 email@example.com
For: Analyst Editorial Board
CEO, The Analyst