Thursday, December 03, 2020 06:45 AM / Research@proshareng.com / Header Image
Nigerian Equities Market closed the month of November 2020 in the green zone as market sustained the renewed bargain hunting witnessed during the previous month trading sessions. The NSEASI inched up by +14.78% as against +13.79% gain recorded in the month of October 2020 while the NASD USI closed northwards with +0.28% gain recorded at the end of the month under review as against -0.48% loss in October 2020.
YTD, the NSEASI has inched up by +30.55% while the NASD USI also inched up by +4.98% so far in the year.
On market development, regulation and investors protection, the Securities and Exchange Commission has proposed sundry amendments to its rules on renewal of registration by Capital Market Operators (CMOs) and quarterly returns forms for unit trust schemes fund managers. This actions is expected to assist the Commission in keeping a reliable data bank of all CMOs registered in the Nigerian Capital Market and also provide information on the operators to both local and foreign investors as well as the general public.
Also, the Nigerian Stock Exchange announced a revision to the stamp duty paid on NSE transactions to 0.08% from 0.075% effective December 7th, 2020. The Central Securities Clearing System Plc (CSCS) is expected to adjust its system to implement the automated deduction of the Stamp Duty rate of 0.08% on the effective date while CMOs are required to engage their software vendors for the required adjustments to their technology applications, to reflect the 0.08% rate ahead of the effective date
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 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 firstname.lastname@example.org
For: Analyst Editorial Board
CEO, The Analyst