Trading-floor-Nigerian-Stock-Exchange-100x100The Nigerian Stock Exchange on Monday inducted recently qualified dealing clerks with the charge that they should uphold the virtues of integrity, good character and high ethical and professional standards.

The Chief Executive Officer of the Nigerian bourse, Mr. Oscar Onyema, said that the NSE would continue to evolve to meet the needs of its valued customers and to achieve the highest level of competitiveness.

Onyema said, “We operate a fair, orderly and transparent market that brings together the best of African enterprises and the local and global investor communities.

“The Nigerian bourse is poised to champion the acceleration of Africa’s economic development”.

The NSE boss said the Exchange was driving a growth strategy based on five objectives.

These, he listed as increasing new listings across five asset classes; increasing order flow in the five asset classes; operating a fair and orderly market based on just and equitable principles; championing development of enabling laws and policies to drive capital market development; and diversify income streams.

He maintained, “Our target really is to work with a strong eco-system in a seamless manner to introduce five products, across five asset classes and to get to a total Market Capitalisation across all five products of $1tn.

“You are core to that eco-system and represent the foundation of a new breed of leaders that will strengthen the broker dealer community, the core of the capital market eco-system.”

Onyema said with the launch of X-Gen, the new generation trading platform, the Exchange was ready to drive its market to the next level.

“X-Gen opens up an unprecedented level of innovative trading capabilities for the Nigerian capital market, providing direct market access for the buy-side and mobile access through smartphones to the retail investors”.

Meanwhile, after a momentary rebound on Friday, both indicators of the Nigerian Stock Exchange closed downward on Monday when equities capitalisation closed lower at N13.029tn after it depreciated by N40.293bn from N13.070tn it recorded on Friday.

The All-Share Index went down by 125.7 basis points or 0.30 per cent to close at 40,647.80 points as against 40,773.50 points recorded at the weekend.

However, investors traded in a total of 445.475 million shares; valued at N5.230bn in 4,591 deals with the financial services sector accounting for a total of 359.911 million shares; valued at N1.835bn in 2,272 transactions.

Construction giant, Julius Berger Nigeria, led 21 others on the gainers’ table when it gained 305 kobo; followed by Presco which grabbed 219 kobo;  Beta Glass notched 97 kobo; Union Dicon Salt appreciated by 30 kobo; while  Dangote Sugar Refinery nicked 25 kobo; among others.

Nestle Nigeria Plc, led the losers’ table when it depreciated by 500 kobo; followed by petroleum marketer, Oando, which lost 102 kobo; Nigerian Breweries dropped 50 kobo; while Zenith Bank Guaranty Trust Bank slipped by 43 kobo each, among others.



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