Experts in the capital market have charged investors on the use of data to make critical investment decision, adding that, data is critical to navigating shocks in the capital market.
Globally, they said, there is an increasing reliance on market data as a fundamental tool for making sound financial decisions and the Nigerian case is no different.
The experts, who spoke at a virtual Nigerian Stock Exchange (NSE) fifth Market Data Workshop 2020 hosted in collaboration with InfoWARE Limited, deliberated on the theme; ‘Handling Shocks in the Capital Market: A Quantitative Risk Management Approach Using Market Data.’
Speaking at the event, the CEO, NSE, Mr Oscar Onyema, 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 loss return of 20.65 per cent in Q1, 2020, adding that, the market saw an upswing since April 2020, and has so far gained 31.67 per cent as at November 12, 2020.
This feat, particularly during the COVID-19 pandemic, he said, 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, he stated.
During the workshop, Market data officer, market services, NSE, Ms Anita Gopaldas, gave a presentation which highlighted the Exchange’s wide range of reliable, accurate and timely market information services and data solutions across all asset classes and data products to market participants locally and internationally.
Some of these provisions 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 presentations at the workshop were delivered by head, Market Services, NSE, Olufemi Balogun; CEO, Infoware Limited, Uwa Agbonile; and CEO, Deontic Data, Benedict Whittam Smith. From their presentations, it was made clear that quality, accessible data is critical not only to dealing with the problems of today, but in mitigating the crises of the future.