The Nigerian Stock Market, July 2017.
THE NIGERIAN STOCK EXCHANGE (NSE) JULY 2017 PERFORMANCE
The Nigerian Stock market has been having a fantastic year so far.
Just the past June, it was the best performing Stock market exchange in the world (Literarily, Yes).
It outperformed the JSE (Jo’Burge), NYSE (New York), LSE (London) and the TOPIX (Tokyo), all rockstars of exchanges.
Let’s highlight the performance below.
Market Cap rose by 10% in the Premium Board, 7% in MainBoard, 5% in Bonds, 3% in ETPs and 7% in total aggregate to have a total cap of 20.3 trillion NGN as against 19.0 trillion in June 2017.
The ASI (All Share Index) Rose by 8% to finish at 35,844 as against 33,117.48 in June.
Market Cap for equities finished at 12.36 trillion NGN as against 11.45 trillion in June 2017.
Total Number of deals and volume were 89,911 and 97.0 billion as against 118,639 and 110.1 billion respectively in June 2017.
Federal bonds traded went down by 35% at 18.5 million as against 24.5 million in June 2017.
Brokers, who are seen as the gatemen with the gate pass also had a swelling moment in the month.
The top brokers by Volume were
- United Capital Securities (25%)
- Stanbic IBTC Stockbrokers (6.06)
- Rencap Securities Nig. Ltd. (4.43)
- Fidelity Finance Coy Ltd (3.42%)
- CSL Stockbrokers Ltd (3.29%)
It is worthy to note that the top 10 brokers were responsible for 55.8% of the total volume and 65.65% of the total value for the month.
STANBIC IBTIC LISTS USD FUND
Stanbic IBTC, unarguably Nigeria’s largest asset managers listed $5,000000 units of the Stanbic IBTC dollar fund on the floor of the Stock Exchange. The aim is to aid diversification of portfolio and investments in currency terms that ensure preservation and appreciation of wealth.
The fund has grown to almost $15,000,000 in fund size.
They are invested in Nigerian Sovereign Bonds, Dollar Denominated Commercial papers, Fixed Deposits and Certificates of Deposits and SEC registered dollar denominated open/closed ended funds.
Here is some good news for diasporans. The prospectus for the fund can be found here.
Interesting times to Invest in the Nigeria Stock Exchange, we dare say!
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