Market End Q1 2018 Green as FMDQ Admits N3.15bn LAPO MFB SPV PLC Bond to its Platform

Monday, April 02, 2018 9:00 AM /research@proshareng.com
 

Nigerian Stock Market closed the month of March 2018 further lower as NSEASI sheds -4.21% as against -2.28% loss recorded in the month of February 2018. Market YTD return stands at +8.53% at the end of the month under review. 

Also, NSEASI closed Q1’18 with +8.53% gain as against +7.91% in Q4’17 and +7.01% gain in Q3’17 respectively. 

On market development and regulation, the Securities and Exchange Commission, has proposed amendment to its Rule on publication of Interim Financial Statement. The proposed rule is expected to reduce the cost of publication for small companies listed on the ASeM board. 

Also, the Nigerian Stock Exchange has proposed a rule on price stabilization of securities. As stated in the proposed rule, it will create a regulatory framework for ’the buying of security for the limited purpose of preventing or retarding a decline in its open market price in order to facilitate its distribution to the public. 

The FMDQ OTC markets in its March 2018 spotlight highlighted that the 21st Naira- OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, March 28, 2018. Other activities around the FMDQ OTC market are: the Admitting of the ₦3.15 billion LAPO MFB SPV PLC Bond to its Platform and the capital raising of FSDH Merchant Bank Limited in the Commercial Papers Market. 

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 March 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

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