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Stock Market

NSE upgrades data portal to improve access to the market

The portal is a consolidated platform for market participants to access affordable quality and timely data.

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CEO NSE, NSE lifts suspension on Omatek Ventures’ shares, NSE launches Comic Book to boost financial literacy, NSE goes public with 2.5 billion ordinary shares in unanimous vote by the members, NSE commemorates 2020 International Women’s Day and rings the bell for gender equality, COVID-19: NSE extends time for submission of financial statements, NSE PUBLISHES GUIDANCE TO FACILITATE EFFECTIVE VIRTUAL MEETINGS FOR STAKEHOLDERS AMIDST COVID-19, NSE Hosts First-Ever Digital Closing Gong Ceremony

The revamped portal which was announced on Monday, June 22, 2020 via a press release is expected to provide provides a more efficient, user-friendly experience for subscribers. According to the release, the new features include data products, subscription management, payment gateway integration and a lot more.

First introduced in 2013, the X-Data Portal is an online application that serves as a repository for real-time, delayed, end of day and historical data for all financial instruments listed on the NSE. It is a consolidated, streamlined platform for market participants to access affordable quality and timely data, the NSE said.

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The NSE’s Chief Executive Officer, Mr. Oscar N. Onyema who expressed optimism about the portal said the upgrade is in line with the desire of the NSE to leverage on technology to become more accessible.

READ MORE: Another insurance firm blames COVID-19 for late filing of financial report

“The newly enhanced X-DataPortal has, therefore, been equipped with market-focused features that will complement the NSE website and other NSE portals in response to stakeholders’ increased demand for easy access to data. Given the importance of Market Data in investment decisions, we remain resolute in our commitment to provide capital market participants with more channels to access relevant market information required for making investment decisions,” Onyema stated.

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Adding to Onyema’s comment, NSE’s Divisional Head, Trading Business, Mr. Jude Chiemeka, stated that the improved portal will serve as the first choice for quality information to people of different professions looking to access up-to-date data on the stock market.

READ MORE: Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

Chiemeka said, “We are, therefore, pleased to introduce the improved X-DataPortal that will serve as a principal source for brokers, fund managers, research analysts, other professionals and non-professional participants like students and investors to get quality real-time and reference data reports for analysis, research and reporting purposes. We believe that the customer-centric approach we have adopted will deliver a superior customer experience in engaging with our capital market.”

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The X-DataPortal provides users with additional features such as seamless purchase of market data; easy access to customized data; instant notifications; and real-time prices. Existing users of the portal will also be migrated to the new portal and can log in with existing credentials.

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Stock Market

Potential COVID-19 vaccine boost U.S stocks

Goldman Sachs surged after it reported that its trading revenue doubled in the second quarter.

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U.S. stocks closed higher yesterday, following impressive data for a potential COVID-19 vaccine and a strong quarterly report by America’s leading investment bank, Goldman Sachs.

Recall that some hours ago, Nairametrics reported on Moderna Inc rallying after a small-scale study showed that its experimental COVID-19 vaccine produced high levels of virus-killing antibodies.

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Moderna’s shares gain over 16% as COVID-19 vaccine passes first human trial

“The Moderna news woke everybody again that this is not going to last forever, and there is light at the end of the tunnel. That is why you are seeing such a strong move today into those economically sensitive stocks,” said Tim Ghriskey, Chief Investment Strategist Inverness Counsel in New York in a note Reuters.

READ ALSO: Nigerian Bourse begins Q3 2020 on a bullish note, BUACEMENT triggers rally 

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America’s elite bank Goldman Sachs surged after it reported that its trading revenue doubled in the second quarter, driven by high volatility in stock and bond markets since March.

In addition, Stephen Innes, Chief Global Market Strategist at AxiCorp, in a note to Nairametrics, explained geopolitical macros, affecting the U.S Stock market. He said:

The S&P500 closed on an upbeat note as US equities continued to defy all gravity as investor optimism revels amid the progress in developing a vaccine which continues to reign supreme.

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READ ALSO: U.S Stock futures soar high as investors await earning results

“Adding to the positive vibe, President Trump defused the US-China tensions and walked back an unwanted element of geopolitical risk that quite frankly no one wanted or needed at this point with COVID-19 ravaging large parts of the US consumer complex.

“The President’s backpedaling is coming at a good time and keeping the omnipresent bears and prophets of doom at bay for now.”

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Stocks bulls increased their stock holdings as the Federal Reserve’s Beige Book survey showed that U.S. businesses saw an uptick in activity into the beginning of July, as states eased restrictions to contain the novel COVID-19 pandemic.

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Nigerian bourse close flat, triggered by low market liquidity

Nigerian bourse ended flat on Wednesday coupled with thin market liquidity amid soaring crude oil prices.

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Governor Fayemi explores investment options with the capital market, Nigerian Stock Exchange, Top 10 stockbrokers trade N120.4 billion worth of stocks in November , Law Union & Rock Insurance Plc Announces Notice of Board Meeting and Closed Period, NSE Hosts First Virtual Automated Trading System (ATS) Broker Certification Training Programme, Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion, Nigerian bourse close flat, triggered by low market liquidity

The Nigerian bourse closed flat on Wednesday, as the All-Share Index and Market Capitalization improved 0.06% to 24,130.26 points and N12.587 trillion.

Consequently, YTD currently stands at 3.85%. A turnover of 208.20 million shares, valued at N1.761 billion was traded by investors in 3,648 deals. STERLNBK was the most traded stock by volume at 77.1million units, while ZENITH BANK finished the most traded stock by value at N247.8million.

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Market sentiment, as measured by market breadth, closed in favour of the bear with 15 tickers closing in red relative to 12 gainers. JBERGER and NB were the top losers of the day with -9.88% and -9.84% declines respectively; while CUTIX and DANGSUGAR recorded the largest gains with +7.69% and +5.17% gains in share value.

Across sectors, two of the five indexes under our coverage gained. Price appreciation in GUARANTY (+0.94%) and ACCESS BANK moved the Banking index up by 0.37%, while the Industrial Goods trailed to gain 0.01%.

Conversely, the Consumer Goods and Insurance indexes were down -1.39% and -0.89% respectively on the back of sell-offs in NB (-9.84%), PZ (-3.33%) and WAPIC (-9.09%), while the Oil and Gas Index

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READ MORE:Nigerian bourse gains N37.26 billion, triggered by BUACEMENT, ZENITH

Top gainers 

CUTIX up 7.69% to close at N1.82,DANGSUGAR up 5.17% to close at N12.2AIRTELAFRI up 3.44% to close at N340,GUARANTY up 0.94% to close at N21.5,ACCESS up 0.82% to close at N6.15.

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Top losers 

JBERGER down 9.88% to close at N15.5, NB down 9.84% to close at N30.7, CAVERTON down 6.15% to close at N1.83, STANBIC down 4.13% to close at N29, PZ down 3.33% to close at N4.35.

Outlook 

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Nigerian bourse ended flat on Wednesday coupled with thin market liquidity, amid soaring crude oil prices. Nairametrics envisages cautious buying, as many investors remain on the sidelines.

 

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Stock Market

Capital market operators call for the suspension of recapitalisation plans 

Amolegbe called for regulators to suspend recapitalisation because of the coronavirus pandemic. 

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the Capital market, Lamido Yuguda assumes duty as new DG of Security and Exchange Commission

Capital Market Operators (CMOs) have noted their desire for the suspension of plans regarding the recapitalisation of the stockbroking community, calling on regulators to consider the current economic realities posed by the COVID-19 pandemic. 

President, Chartered Institute of Stockbrokers (CIS), Mr Tunde Amolegbe, made this known at a webinar organized by the Capital Market Academics of Nigeria themed: “Mitigating the Impact of COVID -19 on the Capital Market.” 

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The Securities and Exchange Commission (SEC) in February had made mention its plans for the recapitalisation of stockbroking firms ahead of the ownership change of the Nigerian Stock Exchange (NSE). At the webinar, Amolegbe called for regulators to suspend such plans for now as a result of the constraints of the coronavirus pandemic. 

READ ALSO: Recapitalisation: Six insurance companies set to merge

Ms Mary Udukthen SEC acting Director-General, in explaining the overall sentiments, consequently, had noted that only 10 per cent of the 255 stockbroking firms controlling 80 per cent of the market activities, believed that there was a need for recapitalisation. 

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Amolegbe explained further stating that the pandemic had slowed down NSE demutualisation programme. The implication of this will thus be a possible aggravation of the funding challenge of the CIS. Given its level of importance, he believed that the Federal Government should treat the capital market as a priority sector in terms of pandemic alleviation strategies. 

 “In view of the existing major constraints with regard to trading liquidity, the Central Bank of Nigeria should formulate policies that will drive more liquidity into the hands of CMOs, especially equity traders,” he said. He added that the stability and growth of the equity market would eventually lead to an overall market rebound as well as growth in the economy. 

 The CIS president also emphasized the need for the launch of a derivatives market as it is required to hedge investments at a period of heightened risks such as this. He observed that the Nigerian capital market had been hamstringed even before the pandemic challenge. 

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 “The equity market, which drives performance of the other market segments had been characterised by low investor patronage and low liquidity ever since the global financial crisis which hit Nigeria in 2008,” he said. 

 

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