Economy
NSE Market Data Workshop Holds October 4 in Lagos
By Modupe Gbadeyanka
The second edition of the Nigerian Stock Exchange (NSE) Market Data Workshop has been fixed for Wednesday, October 4, 2017, at the Civic Centre, Victoria Island, Lagos.
The event is in partnership with Thomson Reuters and other capital market participants and it is themed ‘Market Data: The bedrock of wealth creation.’
The programme will bring together investors, market data aggregators, exchanges, market regulators, government agencies, broker dealers and capital market stakeholders and will create a convergence of informed and educated players in the capital market.
The underlying objective of the workshop is to increase awareness on the critical role of Market Data as a fundamental pillar for wealth creation while leveraging on strategic synergies and technologies to drive market participation.
Some of the confirmed speakers for the event include: Mr Mounir Gwarzo – DG, Securities and Exchange Commission; Mr Bismarck Rewane – Managing Director, Financial Derivatives Company Limited; Mr Ekow Afedzie – Deputy Managing Director, Ghana Stock Exchange; Mr Euvin Naidoo- Head of Financial Institutions for Africa- Thomson Reuters; Mrs Titi Odunfa Adeoye- Founder and Managing Director of Sankore Investments and others.
Interested participants have been advised to register on www.nse.com.ng/mdw2017.
The one-day event which is an exhibition style workshop will feature presentations and panel discussions from thought leaders within the industry.
The 2017 agenda will address market-data related challenges and present opportunities to learn new methods of gaining business insight and making informed investment decisions.
It will also bring together other African Exchanges and members of the Media to explore new and innovative ways of collaborating together and disseminating market information that will sustain and enhance an informed investor community.
This year’s edition of the NSE Market Data Workshop is sponsored by Thomson Reuters, Sankore Investments, Elev8Media, ARM Securities, Infoware, Unilever Nigeria Plc, Zanibal Solutions, ZagTrader, Globaltrybe, NTEL.
According to the Executive Director, Market Operations and Technology, NSE, Mr Ade Bajomo, “The conference brings to fore the critical application of market data in making sound investment decisions whilst highlighting the various data products available in the Nigerian marketplace, thereby allowing investors to maximize their wealth creation opportunities. This is a must attend event for all market participants”.
Sneha Shah, Managing Director, Africa, Thomson Reuters, said: “We are delighted to conduct a market data workshop in partnership with the Nigerian Stock Exchange on October 4th, 2017. This collaboration confirms our long-term vision to contribute to the growth of local markets through enhancing transparency, offering quality content, helping companies operate efficiently, and providing professionals with the intelligence to make informed business decisions across the continent”.
“Globally and across African markets, we have seen a huge increase in electronification, a proliferation of market data, and a significant move towards managed services and cloud. With over 150 years of innovating in Africa, Thomson Reuters is constantly adapting and adding value to clients in a changing financial market”, Shah concluded.
Mr Ade Ewuosho, Head of Market Services Department, NSE said, “While the global trend in the use of data has seen tremendous increase, it is noteworthy to say that Market Data will remain the bedrock of wealth creation. The conference aims to showcase the different information channels available to the investing public whilst leveraging on innovative technologies to disseminate Market Data”.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, August 5, as the market witnessed weaker trading activity with only two deals executed.
In the midweek session, the volume of securities exchanged by investors dropped 99.9 per cent to 802 units from the 1.6 million units recorded on Tuesday. The value of securities further decreased by 99.6 per cent to N208,240 from the preceding session’s N47.6 million, and the number of deals significantly went down by 93.9 per cent to two deals from the 33 deals recorded a day earlier.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 76.9 million units transacted for N5.5 billion.
GNI Plc was also the most active stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
There were no price gainers or losers yesterday.
As a result, the market capitalisation stood unmoving at N2.739 trillion, while the NASD Security Index (NSI) remained unchanged at 4,563.96 points.
By Adedapo Adesanya
The Naira slid against the US Dollar by N2.28 or 0.17 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Wednesday, August 5, to N1,363.85/$1 from N1,362.55/$1.
The local currency also declined against the Pound Sterling in the official market during the session by N5.97 to close at N1,837.38/£1 compared with Tuesday’s closing rate of N1,831.41/£1, and against the Euro, it crashed by N6.54 to quote at N1,575.25/€1 versus the preceding session’s N1,568.71/€1.
But at the black market, the Nigerian Naira traded flat against the greenback yesterday at N1,400/$1, and also remained unchanged at the GTBank FX desk at N1,373/$1.
The Central Bank of Nigeria (CBN) says rates have narrowed to below two per cent, while the country’s external reserves have risen above $52.5 billion, reflecting the impact of its ongoing monetary and foreign exchange reforms.
CBN Governor Yemi Cardoso, represented by the Acting Director of Corporate Communications and Investor Relations, Mrs Hakama Sidi-Ali, disclosed this on Tuesday during the CBN Fair in Gombe. He noted that reforms introduced since 2023 had significantly reduced the disparity between the official FX market and the parallel market.
“The Naira continues to strengthen, with the spread between official and Bureau de Change rates now below two per cent,” he said, adding that reserves at $52.5 billion were supported by sustained inflows and renewed investor confidence in the economy.
Interbank FX transactions slid as weaker market activities dropped total Dollar volume exchanged to $75.35 million, a 51.8 per cent decline from $156.23 million in turnover quoted at the previous close.
The deals at the NFEM window also fell as data from the central bank put Wednesday’s quote at 82 from 139.
In the cryptocurrency market, major were down as global risk sentiment softened as a key world equity index slipped and chipmakers fell.
The MSCI All Country World Index snapped a five-day run to fall 0.2 per cent as chipmakers retreated on both sides of the Pacific. South Korea’s Kospi, a bellwether for the AI trade, dropped 4.4 per cent.
Ripple (XRP) depleted by 1.7 per cent to $1.05, Binance Coin (BNB) decreased by 1.0 per cent to $594.87, Cardano (ADA) depreciated by 0.9 per cent to $0.1884, TRON (TRX) shrank by 0.2 per cent to $0.3261, Solana (SOL) crumbled by 0.1 per cent to $74.00, and Dogecoin (DOGE) went down by 0.1 per cent to $0.0697.
On the flip side, Ethereum (ETH) gained 2.3 per cent to trade at $1,911.41, and Bitcoin (BTC) rose by 0.8 per cent to $64,759.28, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Dipo Olowookere
The domestic stock exchange rebounded by 0.05 per cent on Wednesday on the back of renewed bargain-hunting by investors, though the level of activity waned.
After bleeding for a few days, the Nigerian Exchange (NGX) Limited heaved a sigh of relief yesterday, as the All-Share Index (ASI) gained 109.41 points to close at 244,912.24 points compared with the previous day’s 244,802.83 points, and the market capitalisation garnered N71 billion to settle at N158.087 trillion versus Tuesday’s N158.016 trillion.
Business Post reports that despite the rebound recorded by Customs Street at midweek, the market breadth index remained negative, as there were 20 price advancers and 29 price decliners, implying bearish investor sentiment.
Linkage Assurance appreciated by 9.94 per cent to N1.77, AVA Capital rose by 9.55 per cent to N10.90, Fortis Global Insurance advanced by 7.69 per cent to N2.80, McNichols gained 7.34 per cent to finish at N5.85, and Coronation Insurance surged by 5.51 per cent to N2.49.
Conversely, Honeywell Flour depreciated by 9.94 per cent to N16.30, PZ Cussons gave up 9.94 per cent to trade at N74.75, Zichis crashed by 9.74 per cent to N20.76, Learn Africa slipped by 9.62 per cent to N9.40, and Neimeth tumbled by 8.33 per cent to N8.25.
The busiest equity was FCMB, with a turnover of 369.2 million units valued at N4.1 billion. Chams transacted 46.7 million units worth N201.8 million, First Holdco transacted 43.5 million units for N5.7 billion, Access Holdings sold 29.8 million units worth N778.0 million, and Linkage Assurance exchanged 19.6 million units valued at N33.5 million.
At the close of transactions, market participants bought and sold 824.1 million units worth N25.5 billion in 48,114 deals, in contrast to the 1.6 billion units sold for N28.7 billion in 54,160 deals a day earlier, showing a shortfall in the trading volume, value, and number of deals by 48.49 per cent, 11.15 per cent, and 11.16 per cent, respectively.
