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NSE records N15.1 billion turnover in four trading days

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Nigerian Stock Exchange


Suspends trading on four firms’ shares

Despite the one-day holiday in commemoration of the country’s 57th Independence Day, heavy transactions in the shares of some banks, last week, lifted the volume of shares traded, as turnover of about 1.5 billion shares worth N15.107 billion.

These were recorded in 14,549 deals by investors at the Exchange, and was higher than 1.33 billion units, valued at N14.086 billion that changed hands in 14,703 deals the previous week.

Specifically, at the close of trading last week on the NSE, the financial services industry led the activity chart with 1.29 billion shares valued at N10.12 billion, traded in 8,334 deals; thus contributing 86.30 per cent and 66.99 per cent to the total equity turnover volume and value respectively.
The consumer goods sector followed with 89.259 million shares worth N3.154 billion in 2,760 deals.

The conglomerates industry ranked third with a turnover of 49.361 million shares worth N113.737 million in 491 deals, while trading in top three equities- FCMB Group Plc, Diamond Bank Plc and FBN Holdings Plc accounted for 659.042 million shares worth N1.312 billion in 1,933 deals, contributing 44.14 per cent and 8.69 per cent to the total equity turnover volume and value respectively.

Meanwhile, NSE has suspended Academy Press Plc, Nigerian German Chemical Plc, Roads Nigeria Plc, and Thomas Wyatt Nigeria Plc from trading its shares on NSE platform for failure to meet up with the exchange’s post listing requirements.

According to the NSE, the action was in pursuant to rule 3.1, rules for filing of accounts and treatment of default filing, rulebook of the exchange (Issuers’ Rules), which states that “if an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) suspend trading in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

NSE added that the suspension of these listed companies will only be lifted upon the submission of the relevant accounts, provided the exchange is satisfied that the accounts comply with its applicable rules.

During the week 2,000 units of Exchange Traded Products (ETPs) valued at N34,000.00 executed in one deal were traded, compared with 274 units valued at N636,147.90 transacted last week in18 deals.

Also 2,360 units of Federal Government Bonds valued at N2.029 million were traded last week in seven deals, compared with a total of 7,424 units valued at N6.689 million transacted last week in 18 dealsThe NSE All-share Index and market capitalisation appreciated by 2.49 per cent and 2.34 per cent to close the week at 36,320.93 and N12.502 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of NSE Insurance index that depreciated by 1.21 per cent, while the NSE ASeM Index closed flat.

About 38 equities appreciated in price during the week, higher than 32 of the previous week. 26 equities depreciated in price, lower than 32 equities of the previous week, while one hundred and 107 equities remained unchanged same as 107 equities recorded in the preceding week.

An additional volume of 917,857,136 units of Standard Alliance Insurance Plc resulting from the merger of Standard Alliance Insurance Plc and Standard Alliance Life Assurance Limited were added to its outstanding shares on Tuesday, 3rd of October, 2017.

With this, the total outstanding shares of the company now stood at 12,911,030,586 units.A total volume of 917,857,136 ordinary shares of Standard Alliance Insurance Plc (“SAIP”) were listed on the daily official list of the exchange on the 3rd of October, 2017.

The additional shares were issued to the shareholders of Standard Alliance Life Assurance Limited which arose from the scheme of merger between SAIP and Standard Alliance Life Assurance Limited (SALAL) in the ratio of 5 ordinary shares of SAIP for every 7 ordinary shares held in SALAL.

With this listing of 917,857,136 ordinary shares, the total issued and fully paid up shares of Standard Alliance Insurance Plc has now increased from 11,993,173,450 to 12,911,030,586 ordinary shares


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