By Dipo Olowookere
Next Tuesday, the investing community in Nigeria will have the opportunity to discuss what should be expected in the stock market in the country this year.
Last year was bullish against expectations because of the initial fears created by the COVID-19 global pandemic. When the virus was spreading in China at the beginning of the year, many analysts thought the Nigerian stock market would crash as it did over a decade ago.
This made some foreign portfolio investors exit the market early, but local investors took charge of the space and turned things around.
Despite the shutting down of the economy in Nigeria, the Nigerian Stock Exchange (NSE) kept running, with transactions going up. At the close of the year, the bourse appreciated by more than 50 per cent, emerging the highest gainer in the world.
On Tuesday, January 19, 2021, the exchange will hold an online seminar to review activities of last year and provide expectations for the new year via Zoom by 10:30am.
A statement made available to Business Post revealed that the virtual programme would be open to members of the stockbroking community, analysts, regulators, media and other stakeholders in the capital market, but registration would be required from interested participants ahead of the day. This can be done via the link: http://bit.ly/nse-2021-outlook
On the day, the Chief Executive Officer of the NSE, Mr Oscar Onyema, will be joined by the Managing Director, Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, Ms Razia Khan, to address participants.
Attendees would have the opportunity to ask questions concerning the global capital market review, particularly the impact of the COVID-19 pandemic and others.
The exchange will also give a review of its performance and it will cover product performance (Equities, Fixed Income and Exchange Traded Products); strategic performance across business development (listings, index launch, strategic projects etc.); market initiatives (business partnerships, innovation, advocacy and more); and corporate citizenship development (ESG related efforts).
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