The September 2019 Nigerian Capital Market Service Report - Proshare

Wednesday,October 02, 2019 12:00 PM / [email protected]

NigerianStock Market closed the month of September2019 in the positive territory as market halts negative sentiment witnessed in the last three months. The NSEASI inches up by +0.38% as against -0.69% loss recorded in the month ofAugust 2019 while the NASD USI closed southwards with -2.89% loss recorded at the end ofthe month under review as against -0.50% loss in August 2019.

Furthermore, the NSEASI ended Q3 2019 in the negative territorywith -7.80% lossas against -3.46% loss in Q2 2019 and -1.24% lossin Q1 2019 while the NASD USI closed the quarter southwards with -6.26% lossas against -1.51% lossin Q2 2019 and +2.31% gainrecorded in Q1 2019.

YTD, the NSEASI has shed -12.09% whilethe NASD USI also shed -5.54% asat the end of September 2019.

On market development, regulation and investorsprotection, the Securities and Exchange Commissionhas announced the exposure of New Ruleon fee structure which shall apply to the registration of existing fixed incomesecurities. This also extends to dual listings. The introduction of a cap serves infee structure is to serve as anincentive to attract big ticket issues for listing in the Nigerian market.

Furthermore,The Nigerian StockExchange has proposed amendments to its rules relating to boardmeeting and general meetings of issuers. In the same vein, the Exchange alsoproposed amendments to its dealing members rules on net liquid capitalrequirements, prohibition of manipulation of financial statements etc. Commentson the proposed amendments are expected not later than the close of business onOctober 24, 2019.

Inthis edition of The NigerianCapital Market Service Report, we continue the updates of ourdata section with latest figures on Economic indicators & Upcoming Eventsin the market and economy. This is to ensure that we deliver a comprehensivecapital market service report that helps cover and track innovations,developments as well as service issues in the market effectively.

Inall, the September 2019 SSS QualityReport is a snapshot and aide memoire of developments in our market -tracking milestones that the investing public should be aware of. Do feel freeto share your opinions/observations and feedback with us vide [email protected]

Thank you.

For: AnalystEditorial Board

Reshu BAGGA

CEO, The Analyst

Proshare Nigeria Pvt. Ltd.