Nigerian Stock Market closed the month of March 2021 in the red zone as market maintained negative posture due to sell pressure which sets in to during the previous month of February 2021. The NSEASI dipped by -1.90% as against -6.16% loss recorded in the month of February 2021 while the NASD USI closed northwards with +4.64% gain recorded at the end of the month under review as against -1.58% loss in February 2021.

Furthermore, the NSEASI ended Q1 2021 in the negative territory with -3.04% loss recorded as against - 20.65% loss in Q1 2020 while the NASD USI closed the quarter northwards with +1.91% gain recorded as against -0.69% loss in Q1 2020.

On market development, regulation and investors protection, the Securities and Exchange Commission has released a new rule covering warehousing and collateral management among others. This is in a bid to ensure the nation has a vibrant commodities trading ecosystem as every warehouse that stores commodities to be traded on a registered Exchange shall apply to be registered by the Commission.

Also, the Nigerian Stock Exchange announced that it has received SEC’s approval on trading licence holders’ rules amendment which will become effective from May 3rd 2021