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Trading disrupted at NSE, investors lose N34bn

By Nkiruka Nnorom

The Nigerian Stock Exchange, NSE, yesterday, experienced disruption in trading which resulted in extension of transactions by another two hours, ending at 4:30p.m.

The NSE starts trading by 9.30a.m. each day and closes by 2:30p.m.

The exchange said in a statement by Olumide Orojimi, Head, Corporate Communications, that it maintained open communication with the trading community throughout the incident.

He said: “However, trading recommenced at 2.15p.m. and was extended to 4p.m. to give investors the opportunity to complete their desired transactions for the day.”

The Exchange reassured investors and stakeholders of its commitment to provide best in class trading services with optimal availability, saying it intended to open for trading at the normal trading hours today.

Meanwhile, investors lost N34 billion to bearish run, yesterday, as NSE market capitalisation went down to N8.469 trillion from N8.503 trillion. This represents 0.4 percent decrease.

Similarly, the All Share Index, ASI, nose-dived to 24,620.56 points from the previous 24,719.27 points, representing 0.4 percent decrease.

Twenty losers emerged in the day, against 12 gainers. Conoil Plc led the losers, dropping by 9.37 per cent to close at N16.45 from N18.15, followed by Oando Plc with 8.33 percent loss to close at N4.18 from N4.56 per share.

Cement Company of Northern Nigeria, CCNN, closed as the third on the losers’ chart, declining by 4.98 percent from N7.03 to N6.68, while Law Union & Rock Insurance Plc went down by 4.92 percent to close at N0.58 from N0.61.

On the other hand, Transnationwide Express led on the gainers chart, rising by 9.0 percent to close at N1.08 from N0.99.


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