NSE To Engage Finance Officers, Secretaries On Regulation

In a bid to strengthen its regulatory effort to protect investors and enhance market integrity, the Nigerian Stock Exchange (NSE) planning to hold a one-day interactive session with company secretaries and chief financial officers.

The purpose of the session which might be held next week according to the management,was  to intimate them with the amendments made to the post listing rules and the use of compliance symbols amongst other issues.

Meanwhile, trading activities on the floor of the Exchange maintained its bearish trend, the market capitalisation of 199 first-tier equities depreciated by 0.54 per cent.

Also, three out of four NSE sectoral indices closed on a negative note as NSE 30 Index which basically measures the performance of blue chips moved down by 0.49 per cent.  NSE Banking Index recorded highest loss by 1.59 per cent, NSE Food and Beverages Index dipped by 0.24per cent and NSE Oil and Gas Index retraced by 0.27 per cent, while NSE Insurance Index appreciated by 0.06 per cent.

At the close of trading session, the NSE All-Share Index moved down by 0.55 per cent to close at 19,961.18.  In the same vein, market capitalisation depreciated by N34 billion to close at N6.282 trillion.

The number of gainers at the close of trading session closed flat at seven,while decliners closed higher at 31.

Meanwhile, a turnover of 465 million shares worth N3.446 billion in 3,042 deals was recorded yesterday.

The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume), with 81.3 million shares worth N609 million exchanged by investors in 1,564 deals.

Volume in the banking sector was largely driven by activity in the shares of First Bank Plc, UBA Plc and Guaranty Trust Bank Plc.

Also, Insurance sub-sector of the financial services sector, boosted by activity in the shares of N.E.M. Insurance Plc, Mutual Benefits Assurance Plc and Intercontinental Wapic Insurance Plc.

Also,  NCR Plc led on the gainers’’ table with a gain of N0.42 kobo to close at N8.87 kobo per share while CCNN Plc followed with a gain of N0.23 kobo to close at N4.98 kobo per share and GT Assurance Plc gained N0.06 kobo to close at N1.45 kobo per share.

On the other hand, StanbicIBTC Plc led on the price losers’ table, dropped N0.40 kobo per cent to close at N7.60 kobo per share while UACN Plc followed with a loss of N0.38 kobo per cent to close at N29.32 kobo per share and Oando Plc with N0.25 kobo to close at N25.75 kobo per share.