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The October 2020 Nigerian Capital Market Service Report - Proshare

Service Report	2248 VIEWS
Service Report
2248 VIEWS

PROSHARE
PROSHARE

Thursday, November 05, 2020 11:45 AM / Research@proshareng.com / Header Image Credit: EcoGraphics

Nigerian Equities Market closed the month of October 2020 positive as market sustained the renewed bargain hunting witnessed during the previous month trading sessions. The NSEASI inched up by +13.79% as against +5.94% gain recorded in the month of September 2020 while the NASD USI closed southwards with -0.48% loss recorded at the end of the month under review as against +3.18% gain in September 2020.

YTD, the NSEASI has inched up by +13.79% while the NASD USI also inched up by +4.69% so far in the year.

On market development, regulation and investors protection, the Securities and Exchange Commission has announced that it shall henceforth discontinue the practice of issuing prior approval or no objection for Audited Accounts of Collective Investment Schemes. The commission states further that annual accounts of Collective Investment Schemes upon completion of audit and auditor certification, shall be published within three months after the end of the period to which the accounts relate or any other period prescribed by the Commission from time to time

Also, the Nigerian Stock Exchange, announced an enhancements to its Fixed Income Securities market segment as well as the associated benefits to trade execution via its platform. This is in line with its ambition to support Nigeria's economic growth by providing a liquid, efficient, and multi-asset securities exchange hub.

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 October 2020 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