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1. Nigerian Capital Market at Crossroads; Working Towards a New Normal

Nigerian Equities Market Review (Unlisted)

The NASD Security Index Year-to-date return declined by -5.56%; a dip from the +1.34% YTD performance recorded in 2021. The total volume traded Year-to-Date stands at 3,234,461,422 units in 2,682 deals and the total Value traded is N 28,050,707,224.24. Volume and values of shares traded declined by -75.02% and -14.60% respectively. 

The equities trading platform saw a considerable amount of sell-offs in market capitalization as the volume of shares traded and deals completed declined notably in Q1 and Q4 2022. The NASD's NSI Index gained +5.5%, from 725.85 points in Q1 2021 to 765.95 points in Q2 2021 making it the best Quarter on Quarter market performance. 

According to market analysts, the NASD exchange experienced its best performance on May 19 (Q2) at 808.75 index points posting a YTD of 8.75%, and its worst performance on November 29 at 702.76 index points (Q4) with a YTD of -5.56%. December recorded the lowest yield for the year -5.56%, followed by November, April, March, October, and February with -3.12%, -2.64%, -2.64%, -1.72% and -0.03% respectively. 

The highest gains were recorded in August at 5.23%, followed by July, May, June, September, and January with +4.02%, +3.15%, 2.93%, 2.42% and +0.42% respectively (see chart 6  and table 30 below).

Chart 6:

Table 30: