The Nigerian Stock Exchange (NSE) is set to host financial industry leaders in an upcoming webinar slated for Thursday, 8 October 2020.
In a press release made available on the Exchange’s website and verified by Nairametrics, the event will be promulgated by the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele CON, and the Director-General of the Securities and Exchange Commission, Mr. Lamido Yuguda. In the same vein, the programme will be graced by a host of industry leaders, drawn from both the public and private sectors, to discuss emerging financial stability risks, the evolving public policy response, and long-term challenges for the financial system.
The theme of the programme is; “The Future of the Financial Services Industry Post COVID-19″, and it promises to bring together market stakeholders to share valuable experience in managing the impact of the pandemic, as well as discuss the future of the Nigerian financial market, with the goal of charting a route to a sustainable future.
Interested participants can register to attend at http://bit.ly/nse-financial-webinar.
Commenting on the rationale of the webinar, the CEO, NSE, Mr. Oscar N. Onyema OON, noted that, “The world is facing unprecedented challenges occasioned by the COVID-19 pandemic. Considering this, the global financial system remains an area of potential risk, with record levels of market volatility and growing concern around credit losses, and its attendant impact on overall asset quality, capital, and liquidity. Governments, regulators, and international organizations have moved rapidly to address the economic collapse and financial fallout, but questions remain around how policy should continue to evolve to preserve financial stability. With this webinar, we envision that the insights gathered will lead to actionable solutions, policies, and measures that can mitigate current and emerging financial stability risks.”
Important keynote speakers expected to grace the webinar include; Ms. Aishah Ahmad, Deputy Governor, CBN; Mr. Mitchell Elegbe, MD/CEO, Interswitch; Mr. Bolaji Balogun, CEO, Chapel Hill Denham; Mr. Kunle Elebute, Managing Partner, KPMG Nigeria; Prof. Yinka David- West, Academic Director, Information Systems & Digital Transformation, Lagos Business School; Mr. Chinua Azubike, MD/CEO, InfraCredit; and Mr. Eric Idaihi, Partner/Co-Founder, Verod Capital.
GTBank, Dangote Cement keep Bulls roaring high
Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session.
Nigerian stock market ended its last trading session on an impressive note. The All Share Index gained 0.47% to close at 28,697.06 points as against +0.40% appreciation recorded on Thursday.
Nigerian Stock Exchange market capitalization now stands at N14.99 Trillion. Its Year-to-Date (YTD) returns currently stands at +6.91%.
- However, the Nigerian bourse trading turnover fell short of expectation as volume moved dipped by 9.11% as against -4.67% downtick recorded on Thursday. ACCESS, GUARANTY, and UBA were the most active to boost market turnover.
- AFRINSURE leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
- Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.
- NASCON up 10.00% to close at N14.3
- PZ up 7.32% to close at N4.4
- ZENITHBANK up 1.69% to close at N21
- GUARANTY up 1.50% to close at N30.45
- DANGCEM up 0.67% to close at N151
- NNFM down 9.89% to close at N4.19
- NPFMCRFBK down 4.29% to close at N1.34
- HONYFLOUR down 4.21% to close at N0.91
- UNIONDAC down 3.70% to close at N0.26
- VITAFOAM down 3.23% to close at N6
Nigerian bourse continued its bullish run amid a shutdown of economic activities at Nigeria’s economic nerve center Lagos and Rivers amid ongoing curfew put in place in order to calm hostilities prevalent in some areas.
- Bulls seem to be rallying high amid soaring crude oil prices, and high buying pressure noticed in some Nigerian blue-chip stocks like Dangote Cement and GTBank.
- However, Nairametrics expects you to seek the advice of a certified stockbroker when choosing stocks to buy, as some of these stocks exhibit cyclic returns in principle.
#EndSARS Bull return to Nigerian Stock Market amid Looting
The market breadth index was positive with 20 gainers against 10 losers.
Nigerian bourse advanced today by 0.40%, to close at 28,563.87 points. The All Share Index was up by 0.40%, with the year-to-date return at +6.39% and market capitalization at N14.92 trillion. Investors gained N59.78 Billion.
- A total volume of 311.3 million units of shares, valued at N469billion exchanged hands in 3,375deals. GUARANTY was the most traded shares by volume and value at 77.8million units and N2.33billion.
- The market breadth index was positive with 20 gainers against 10 losers. UACN (+8.33%) led the gainer’s chart today, while GLAXOSMITH (-3.57%) topped the laggards.
- All sectors were bearish – Insurance, Oil & Gas, Consumer Goods, and Banking were lowered by 0.93%, 0.07%, 0.06%, and 0.03%, respectively save for the Industrial sector index which appreciated by +0.15%.
- UACN up 8.33% to close at 8.33%
- STANBIC up 2.33% to close at 2.33%
- DANGSUGAR up 2.22% to close at N13.8
- WAPCO up 2.02% to close at N17.65
- MTNN up 1.45% to close at 1.45%
- GLAXOSMITH down 3.57% to close at N5.4
- INTBREW down 2.95% to close at N6.25
- CAP down 1.07% to close at N18.5
- FBNH down 0.82% to close at N6.05
- ZENITHBANK down 0.72% to close at N20.65
Nigerian bourse against all odds recorded impressive gains. The gain was recorded amid, falling crude oil prices, and significant records of looting at a number of Nigerian urban areas triggered by the ongoing political unrest in Nigeria.
- Buying pressure from NSE30 stocks like MTN Nigeria, Stanbic IBTC Bank, Dangote Sugar, UACN lifted the All Share Index value upward.
Investors maid the prevailing macro are repositioning their portfolio for Q3 earning results amid a drop in market liquidity at Thursday’s trading session.
- Nairametrics, still envisage readers to be cautious about choosing stocks to buy, on reports coming from the Lagos Chamber of Commerce and Industry (LCCI) revealing Nigeria had lost more than N700 billion in economic value since the #EndSARS protests started a few weeks ago.
#EndSARS: NSE lost N113 billion Market Capitalization on Wednesday, October 21
The NSE Market Capitalization shed N113 billion from N14.983 trillion to N14.870 trillion on Wednesday
As at close of trading on Wednesday, the NSE Market Capitalization shed N113 billion from N14.983 trillion to N14.870 trillion.
The demand for Equities drastically reduced on the trading floor of the NSE, as the market reacted to the prevailing tensed security situation arising from the hijacked #EndSARS protests in Lagos, resulting in the loss of lives and vandalization of private and public owned properties.
The lull in the market, undoubtedly, was not unconnected with the disposition of most investors, who rather than investing, showed more concern about the safety of their investments, as well as observing the government’s next line of action in handling the lingering security situation.
The NSE All-Share Index also declined by 0.75% from 28,665.82 points to 28,449.49 points.
What they are saying
According to the Director-General of NECA, Mr. Timothy Olawale, “Protest is legal and a fundamentally guaranteed right of Nigerians to draw government’s attention to the need to take drastic action as regards reforms in all areas of our national life. However, it is important that the economy should not be brought to its knees in the process. The economy is in tatters, facing the threat of a second recession and unemployment rising to an unmanageable level, the need to stop the slide is not only urgent, but important. A consequential effect of the hindered capacity of businesses to function is the higher unemployment rate, further reduction in disposable income of those left in employment, heightened insecurity with the risk of hoodlums hijacking the peaceful protest among others.”
The Lagos Chamber of Commerce and Industry (LCCI) estimated that the protests has cost the economy over N700 billion (about $1.8bn in losses). According to the President of LCCI, Mrs. Toki Mabogunje, her group was concerned about the negative impact of the development on business activities and said, “These actions have been at great cost to the economy and the welfare of Nigerian citizens. It should be noted that our economy is still reeling from the shocks of the COVID-19 pandemic and struggling to recover from its devastating effects.”
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