Investors lose ₦2.3tr at NSE amid COVID-19 pandemic

Investors have lost N2.3 trillion in one month as uncertainty in the domestic and global economy, triggered by the devastating effect of the raging COVID- 19 crisis continue to hit hard on the equities sector of the Nigerian Stock Exchange (NSE).

Market capitalisation of listed equities, which opened the month of March at N13.449 trillion, depreciated by N2.3 trillion to close at N11.100 trillion yesterday.

The All-share index equally declined by 4,516.1 points or 21.2 percent from 25, 816.57 to 21, 300.47 points.

COVID-19: SEC Nigeria issues advisory

The Securities and Exchange Commission, SEC, has issued an advisory that would mitigate the impact of COVID-19 on capital market operations.

In a circular to capital market stakeholders on COVID-19, the SEC released a number of market-focused adjustments to be adopted in the interim in response to the effects of COVID-19 which includes filing and processing of applications electronically, extension of deadline on 2019 annual reports and First Quarter, Q1 2020 reports and postponement of the Q1 Capital Market Committee meeting earlier scheduled for April 23, 2020.

NSE: Benchmark index drops by 0.12%

The Nigerian equities market began this week’s trading activities on a bearish note, with the benchmark index declining by 0.12 percent.

The All-Share Index declined by 0.12 percent or 28.16 basis points from 22,733.35 basis points, to close at 22,705.19 basis points.

On the flip side, the Market Capitalisation also dipped 0.12 percent or 15 billion Naira from previous closing of 11,847 trillion Naira, closing on Monday at 11,832 trillion Naira.

Stock Market: Operators foresee positive performance in 2020

Operators have expressed optimism that the nation’s bourse will witness positive performance in 2020 due to low interest rate in money market instrument and early passage of the budget.

They stated this in separate interviews in Lagos on Thursday, while reacting to the stock market expectations in 2020, news agency Voice of Nigeria reports.

Mr Ambrose Omordion, the Chief Executive Officer, InvestData Ltd., said low interest rate regime, increased credit to the real sector and early assent to 2020 budget were factors that would impact positively on the market.

SEC reviews Nigerian Stock Exchange demutualisation scheme

The Securities and Exchange Commission (SEC) says it is reviewing the Nigerian Stock Exchange (NSE) demutualisation application.

The SEC acting Director-General, Ms Mary Uduk, disclosed this at the third quarter post-Capital Market Committee (CMC) meeting news conference held in Lagos on Friday.

Uduk assured stakeholders that the commission would ensure a transparent and equitable process in the exercise.

Operators task SEC, NSE, others on local participation

The capital market stakeholders have called on Securities and Exchange Commission (SEC), Nigerian Stock Exchange (NSE) and other stakeholders to formulate strategies that would boost local participation in the nation’s bourse.

The capital market stakeholders made this call during an interview with News Agency of Nigeria (NAN) in Lagos, while reacting to investor apathy in the equities market.

October 2019: FGN Bond auction over subscribed –DMO

Investors’ confidence in the Federal Government of Nigeria’s Securities remained high at the FGN Bond Auction conducted by the Debt Management Office (DMO) which reflected an increase in subscription.

The DMO offered three (3) Instruments  (5-year, 10-year and 30-year bonds) with a total face value of N150.00 billion which were well received by investors.

Total subscriptions received from competitive bids for the instruments was N255.99 billion, indicating a subscription level of 171%.