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Thursday, January 24, 2019 6:30AM /ProshareResearch
TheNigerian Stock Market recorded an impressive performance in Q1 2018 with +8.53% gain recorded. Negative market sentimentpermeated the market in subsequent quarters as investor became wary of emergingglobal and domestic economic developments. The NSEASI dipped by -7.77% and -14.40% inQ2 and Q3 2018 respectively. The index dipped further by -4.08% in Q4 2018 as the market closed the yearwith a YTD of -17.81%.
Thefollowing factors could be said to be responsible for the dreary marketperformance at the end of the past year:
- The exit of foreign investors due to the rise in domestic US interest rates as the Fed pushed up its policy rate to douse emerging inflationary pressure.
- Anxiety by some foreign investors over the fortunes of the economy pre and post 2019 general elections; and
- Rising global yields on non-equity assets which continue to nudge global fund managers to reallocate portfolio funds towards fixed income securities and other alternative investment assets.
| YTD Market Performance Review | |||
| Periods | 29-Dec-17 | 31-Dec-18 | % Change |
| YTD | 38,243.19 | 31,430.50 | -17.81% |
| Monthly Market Performance | |||
| Jan '18 | 38,243.19 | 44,343.65 | 15.95% |
| Feb '18 | 44,343.65 | 43,330.54 | -2.28% |
| Mar '18 | 43,330.54 | 41,504.51 | -4.21% |
| Apr '18 | 41,504.51 | 41,268.01 | -0.57% |
| May '18 | 41,268.01 | 38,104.54 | -7.67% |
| Jun '18 | 38,104.54 | 38,278.55 | 0.46% |
| Jul '18 | 38,278.55 | 37,017.78 | -3.29% |
| Aug '18 | 37,017.78 | 34,848.45 | -5.86% |
| Sep '18 | 34,848.45 | 32,766.37 | -5.97% |
| Oct '18 | 32,766.37 | 32,466.27 | -0.92% |
| Nov '18 | 32,466.27 | 30,874.17 | -4.90% |
| Dec '18 | 30,874.17 | 31,430.50 | 1.80% |
| Quarterly Market Performance | |||
| Q1 | 38,243.19 | 41,504.51 | 8.53% |
| Q2 | 41,504.51 | 38,278.55 | -7.77% |
| Q3 | 38,278.55 | 32,766.37 | -14.40% |
| Q4 | 32,766.37 | 31,430.50 | -4.08% |
| Source:NSE, Proshare Research | |||
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