NSE-ASI ends bullish despite weak start

The equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] appreciated by 0.72 per cent to close at 30,764.37basis points, compared with the 0.38 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 11.23 per cent.

Market breadth also closed positive as Eterna led 25 gainers against 20 losers topped by Julius Berger at the end of yesterday’s session- an improved performance when compared with previous outlook.
Market turnover however closed negative as volume declined by 42.89 per cent against 138.86 per cent uptick recorded in the previous session.

UBA, Guaranty and Zenith Bank were the most active to boost market turnover. Guaranty and Zenith Bank topped market value list.
Volume shockers included Sterling Bank, which led the list of active stocks that recorded impressive volume spike at the end of today’s session.

Meanwhile, the NSE has been presented with the “Best Corporate Social Responsibility Award” at the 2015 African Business Awards held in New York last week.

The African Business Awards, launched in 2008 by African Business magazine, is designed to celebrate excellence in African business, by recognizing the individuals and companies that are driving Africa’s rapidly transforming economy and creating new economic opportunities for citizens and communities all over the continent.

The Managing Director of IC Publications and Group Publisher of African Business magazine, Omar Ben Yedder said “It is encouraging to read the many achievements that are taking place all over the continent, despite the headwinds and difficult global environment. The continent continues to be blessed with some remarkable individuals, who are driven and relentless in their ambitions to playing a transformative role. The calibre of entries is very high and continues to reflect and recognise Africa’s outstanding individuals and businesses. These entries are assessed by a judging panel of renowned individuals who are chosen for their expertise on the African Business Industry, with scores based on a set of qualitative and quantitative criteria”.

Receiving the award, the Chief Executive Officer, Oscar Onyema, expressed appreciation for the honour and reiterated the Exchange’s commitment to providing a platform for sustainable growth and development in the African economy.

In his words: “The NSE is devoted to taking a leading role in creating a more sustainable and inclusive economy for our stakeholders. Sustainability is a critical component of our business strategy. It is about responsible and inclusive investment services, increasing opportunity, preserving resources, improving lives, creating jobs and meeting the needs of the various stakeholders that we serve.

We will continue to leverage our CSR platforms to share how, through efficient utilization of resources, support of our committed employees and partners, we are transforming lives and communities.”

Leveraging its unique position as the biggest Exchange in West Africa, NSE is championing sustainability along four key impact areas of Marketplace, its platform for promoting market-based approach to Environmental, Social and Governance (ESG) imperatives; Community, where the NSE makes contributions to positively impact lives; Workplace, through which the Exchange facilitates diversity, wellbeing and harness the talent and skills of its people; and the Environment as it focuses on reducing its environmental impact.