Bright Prospects for Stock Market - THISDAYLIVE

Given the 2020 plans and strategies unveiled by the Chief Executive Officer of the Nigerian Stock Exchange, Mr. Oscar Onyema for 2020, the stock market has prospects to sustain the positive performance observed since the beginning of this year, writes Goddy Egene

Speaking in Lagos on Monday on the performance of the market in 2019 and out for 2020, Onyema expressed optimism that the market would record a positive performance this year. “We are committed to continually provide clarity on the demutualisation process to our various stakeholders through regular engagements. While keeping an eye on the strategic intent of the exchange post demutualisation, we will continue to leverage our vast network of stakeholders, in addition to developing new strategic partnerships with the goal of delivering better products and services to our customers.

“Capital conducive United States Fed policy enabled foreign investors to economically enhance leverage and seek investment opportunities in their home and adjacent countries, as Africa’s largest economy adjusted to new economic realities. Onyema said the NSE indices also posted negative returns during the year with the NSE Consumer Goods Index being the most impacted, declining 20.83 per cent, followed by the NSE Main Board Index and NSE Lotus Islamic Index, which dropped by 20 per cent and 17.87 per cent respectively.

The NSE boss noted that the fixed income product market performed exceptionally well in 2019, as market capitalisation increased by 20.42 per cent to N12.92 trillion from N10.72 trillion in 2018. “The MoU is geared towards promoting cross-listing and trading of Green Bonds in Nigeria and Luxembourg. We believe relationships of this nature, which foster co-opetition, further enhances our ability to deliver greater value to our stakeholders,” he said.

“Afrinvest High Dividend Yield Index. Similarly, we partnered Meristem Securities Limited to launch the NSE-Meristem Growth Index and NSE-Meristem Value Index to provide a benchmark for the market to gauge the performance of value stocks and growth stocks listed on the NSE,” he said.

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