Friday, 29th March 2024
To guardian.ng
Search

Equities sustain sliding profile as bears rule on

By Bukky Olajide
09 October 2015   |   3:10 am
IOSCO reinforces its position as key global reference point for markets regulation The equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 0.06 per cent to close at 30,123.20basis points, compared with the 0.62 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands…

Nigerian-Stock-Exchange-300x225IOSCO reinforces its position as key global reference point for markets regulation

The equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 0.06 per cent to close at 30,123.20basis points, compared with the 0.62 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 13.08 per cent.

Market breadth also closed negative as Transexpr led 18 gainers against 23losers topped by Ikeja hotel at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover equally closed negative as volume declined by 16.27 per cent against 12.74 per cent decline recorded in the previous session. UBA, Univinsure and Zenith Bank were the most active to boost market turnover. Zenith Bank and Guaranty topped market value list.

Volume shockers included Dangote Sugar which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session

Meanwhile, the Board of the International Organization of Securities Commissions (IOSCO) met in Toronto this week to reinforce IOSCO’s position as the key global reference point for financial services and markets regulation.

The Board discussion during the two-day meeting focused on three sets of activities in key priority areas as identified in the IOSCO 2020 Strategic Direction: Identifying and responding through guidance to global market risks; providing assistance to IOSCO members and supporting the G20 efforts to promote stability in the global financial system.

The meeting was preceded by a discussion among Board members on recent market developments, including recent market volatility and increased leverage, particularly in growth and emerging markets.

This was followed by a round table discussion with industry representatives on improving SME access to market-based finance.

As part of its ongoing efforts to identify and respond to emerging risks, the Board discussed progress in IOSCO’s work on asset management and agreed to publish a report on liquidity risk management in collective investment schemes.

It further decided to conduct work on enhancing collection of data about asset management activity and considered developing guidance on liquidity risk management beyond its 2013 principles (including on stress testing).

0 Comments