Market experts at the just concluded 5th Market Data Workshop 2020 organised by the Nigerian Stock Exchange and InfoWARE Limited have highlighted market data as a fundamental tool for making sound financial decisions.
At the event titled “Handling Shocks in the Capital Market: A Quantitative Risk Management Approach Using Market Data,” experts said Nigeria, like other nations, need effective data to approach the financial market the right way.
Speaking at the event, Mr. Oscar N. Onyema, OON, the Chief Executive Officer, NSE, said “In Nigeria, the equities market recorded negative performance in the first quarter of the year, with the NSE All Share Index (“ASI”) posting a quarterly return of -20.65 percent in Q1’2020. However, the market saw an upswing since April 2020, and has so far gained +31.67% as at 12 November. This feat – particularly during the COVID-19 pandemic – can be attributed to smart investors bargain hunting and the release of positive year-end financial results of several listed companies, coupled with improved dividend declarations. It demonstrates the opportunities that abound in the market for discerning investors, even in a time of crisis, and underscores the importance of quality market data for investment decision-making.”
In her presentation, Ms. Anita Gopaldas, Market Data Officer, Market Services, NSE, highlighted The Exchange’s wide range of market data products and solutions across all asset classes. Some of these services include the NSE API which ensures the dissemination of real-time data to stakeholders; FIX Order Management System which allows trade information to be transmitted from anywhere to The Exchange; and the recently upgraded X-DataPortal, which serves as a consolidated, streamlined platform for market participants to access quality and timely data at an affordable rate.
Other speakers at the event were Felix Egbon, Group Head, Risk Management, Zenith Bank Plc; Tapa Das, Chief Executive Officer (CEO), NG Clearing Limited; Oladipupo Oyefuga, Head, Risk, Stanbic IBTC Bank; and Dr. Olaoluwa Simon Yaya, Sub Dean, Faculty of Science, University of Ibadan. This panel session, which was moderated by Olufemi Balogun, Head, Market Services, NSE, highlighted the importance of building financial or investment models that can be tested with real-life situations. Panelists agreed that the unprecedented happenings of 2020 have proven that reliable real-time and historical data that can easily be understood is critical to building these models.
In addressing the topic, Adopting a Data-Driven Culture: The Key to Innovation, the second-panel session addressed changes in business operations occasioned by the COVID-19 pandemic and how the timeliness, accuracy, and availability of data has been critical in shaping how they interact with stakeholders. The panel session featured Uwa Agbonile, CEO and Chief Software Architect, Infoware Limited; Lilian Olubi, CEO, EFG-Hermes; Saheed Bashir, CEO, Meristem Stockbrokers Limited; Carl Larry, Principal Consultant, Oil Outlooks and Opinions LLC; and was moderated by Dr. Ogho Okiti, Managing Director, BusinessDay Media Limited.
Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity
Mrs. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer (CEO) Designate, Fidelity Bank Plc, purchased 5,000,000 shares of Fidelity Bank on Monday, November 30, 2020.
The management disclosed this in a statement forwarded to the Nigerian Stock Exchange (NSE).
Onyeali-Ikpe purchased the shares in five different transactions, according to the statement signed by Ezinwa Unuigboje, the Company Secretary, Fidelity Bank Plc.
It said 260,190 shares were acquired at N2.52 per share. While 400,000; 130,000; 2,870,000 and 1,339,810 shares were purchased at N2.55; N2.58; N2.60 and N2.56, respectively.
Aggregate information revealed the 5,000,000 shares were acquired at an average price of N2.56 per share. See the details below.
Despite Opening in Red, The Nigerian Stock Exchange Closed in Green
The Nigerian Stock Exchange closed positive on Monday despite opening the day in the red.
The market capitalisation rebounded from the N51 billion decline recorded earlier in the day to close with N21 billion profit at N18.309 trillion market value.
Similarly, the NSE All-Share Index recovered from a 0.29 percent dip to gain 0.45 percent and closed the day at 35,042.14 index points.
Investors traded 415.531 million shares valued at N4.898 billion in 5,267 transactions during the trading hours of Monday.
Airtel Africa led the most traded stocks with a N53.5 gain to close at N588.5 per share. MTN Nigeria came second with a 20 kobo gain to close at N155.2 a single share. See the details below.
Moderna Shares Jumped 20.24 Percent After Announcing Plans to Seek Approval for COVID-19 Vaccine in US and Europe
COVID-19 Vaccine: Moderna to Seek Emergency Authorisation in US, Europe
The share price of Moderna, an American Biotechnology company, rose by 20.24 percent or $25.71 on Monday after the company announced plans to apply for US and European emergency authorisation for its COVID-19 vaccine that it claimed was 100 percent effective in preventing severe cases and 94.1 percent on the regular.
“We expect to be playing a major part in turning around this pandemic,” Zaks stated.
This is coming two days after the United Kingdom ordered 40 million doses of Pfizer and BioNTech COVID-19 vaccine and announced plans to commence usage as early as December 7th.
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