NSE LIVE! Stock Exchange suffers glitch as equities lose N32b

The Nigerian Stock Exchange (NSE) suffered a technical glitch on Monday as the equities market opened a new trading week with a tinge of negative sentiments.

The technical glitch disrupted trading and forced the Exchange to suspend trading for more than four hours out of the five usual hours of trading. The delay forced the authorities at the Exchange to extend trading hours beyond the usual closing time of 2.30 pm to 4.00 pm.

Read Also : NSE LIVE! Equities lose N108b as high-cap stocks dwindle
In a statement after the trading, the Exchange stated that it experienced a disruption to its trading services and as such decided to extend the trading hours to give investors the opportunity to complete their desired transactions for the day.

The NSE said that it regretted any inconvenience the incident might have caused and reassured investors and stakeholders of its commitment in providing best in class trading services with optimal availability.

The Exchange stated that it intended to open for trading at the normal trading hours as from the second trading session in the week.

The equities market indicated widespread negative sentiments with nearly two decliners to every advancer. Key indices at the NSE indicated a loss of 0.38 per cent or N32 billion. The All Share Index (ASI)-the value-based common share index that tracks prices of all equities, dropped from the opening index of 24,719.27 points to close at 24,626.02 points. Aggregate market value of all equities also dropped from N8.503 trillion to close at N8.471 trillion.

The downtrend further worsened the negative overhang at the stock market as the average year-to-date return rose to -14.02 per cent. A review of sectoral and group indices also showed a largely negative market. The NSE Oil & Gas Index declined by 0.8 per cent. The NSE Consumer Goods Index and NSE Banking Index dropped by 0.6 per cent each.

Conoil led 19 other stocks on the losers’ list with a loss of N1.70 to close at N16.45. Nigerian Breweries dropped by N1.50 to close at N104.50. Guinness Nigeria lost 41 kobo to close at N99.49. Oando declined by 38 kobo to close at N4.18 while Cement Company of Northern Nigeria lost 35 kobo to close at N6.68 per share.

On the other hand, Stanbic IBTC Holdings led the 12-stock gainers’ list with the highest gain of 65 kobo to close at N14.30. Ecobank Transnational Incorporated gained 13 kobo to close at N14. Diamond Bank added 11 kobo to close at N1.41. Transnationwide Express rose by 9.0 kobo to close at N1.08 while Caverton Offshore Services Group added 8.0 kobo to close at N1.73 per share.

Total turnover stood at 129.69 million shares valued at N582.45 million in 1,660 deals. The three most active stocks were Equity Assurance, with 40 million shares; FBN Holdings, with 12.33 million shares and Zenith Bank, which recorded a turnover of  12.21 million shares.

 

 

 

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