The Nigerian Stock Exchange (NSE) has disclosed that it would hold its annual review/market recap for 2019 on the performance of the market and give an outlook for 2020 on the 8th January 2020.
The event would hold at the stock exchange house Marina, Lagos, where the Chief Executive Officer, NSE, Mr Oscar N. Onyema, OON, supported by members of the exchange’s Executive Committee would provide summary and insight into the 2019 performance of African stock markets and other stock markets around the world.
After this, the NSE would review the performance of the Exchange, which would cover product performance (Equities, Fixed Income and Exchange Traded Products). Others areas are The NSE’s 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), before giving the prognosis for 2020 in the NSE.
The event/presentation would be attended by stakeholders from the stockbroking community, analysts, media and other interested entities. The briefing event would be broadcasted across all NSE platforms, including the web.
Though the Nigerian capital market mirrored the performance of the larger economy and continued its moderate path of recovery, the exchange’s market capitalization increased by 20.42% to N12.92 trillion from N10.72trillion in 2018, market turnover also increased by 389.26% when compared to 2018.
Meanwhile, capital raising was dominated by the Federal Government, responsible for 60% of bond issuances during the period, in a bid to finance fiscal and infrastructure deficits. In spite of the challenges faced, the NSE continued to drive its strategy to enhance customer experience across its value chain, reorganize the exchange for success, and capitalize on mission-critical strategic initiatives such as demutualization.
However, the NSE which was bearish towards the end of 2019, has been on a bullish run since the market opened in 2020 and reportedly recorded its biggest daily gain in 7 months with the All-Share Index gaining by 3.54% end of trading yesterday.