By Michael Eboh
Stockbrokers and other operators in the capital market have appealed to parties in the on-going crisis in the Nigerian capital market — the Nigerian Stock Exchange (NSE) and Alhaji Aliko Dangote, President of the NSE to take things calmly pending, so as to ensure that the confidence and integrity reposed in the market is eroded

A stockbroker who informed Vanguard of the development, said that stockbrokers, under the aegis of the Chartered Institute of Stockbrokers (CIS) and the Association of Stockbroking Houses of Nigeria (ASHON) have already commenced the process of brokering peace between both parties.

The stockbroker who spoke on the condition of anonymity said that stockbrokers have appealed to both parties to sheathe their swords and avoid the exchange of words and accusations on the pages of newspapers and other media of mass communication.

He added that delegates of the CIS and ASHON have met with both parties in the conflict and that they are hopeful that calm will return to the market soon.

Meanwhile, the declining trend on the Nigerian Stock Exchange (NSE) was halted, Wednesday, as confidence returns to the market, with the value of listed equities, driven by on-going mediation efforts, appreciated by N66.63 billion.

The improvement in the market indices after two days of decline was attributed to efforts by the Senate, stockbrokers and other stakeholders in the capital market to resolve the crisis between the management of the NSE and Alhaji Aliko Dangote, President of the NSE.

Equities’ value, represented by the market capitalisation, appreciated by 1.07 per cent to N6.283 trillion from N6.216 trillion at which it opened.

The All-share index , another key performance indicator, appreciated by 1.07 per cent to 25,691.30 points from 25,418.84 points.

As a result of a seeming resolution of the crisis, a number of stocks enjoyed significant price improvement, with Nigerian Breweries Plc recording the most share price gain, rising by N3.60 to close at N75.60 per share, UAC Nigeria Plc followed with a gain of N1.45 to close at N43.44 per share and PZ Cussons Nigeria Plc garnered N1.30 to close at N35.40 per share.

On the contrary, Mobil Oil Nigeria Plc recorded the most share price loss, dropping by N8.65 to close at N164.35 per share, Cadbury Nigeria Plc followed with a loss of N0.43 to close at N28.57 per share and Cement Company of Northern Nigeria Plc dipped by N0.43 to close at N16.10 per share.

Equity trading dipped by 8.46 per cent, as a turnover of 243.71 million shares valued at N2.11billion in 6,324 deals in contrast to the previous day’s turnover of 266..23 million shares valued at N1.93 billion in 6,804 deals.

Banks’ stocks enjoyed the most patronage in the sectorial analysis, as trading in the sub-sector accounting for 52.99 per cent of the market turnover, with 129.13 million shares valued at N1.25 billion in 3,469 deals. Zenith Bank Plc emerged the most active in the sub-sector, trading 45.66 million shares valued at N622.42 million in 421 deals, GTBank Plc followed with the exchange of 11.38 million shares valued at N192.1 million in 614 deals and Ecobank Nigeria Plc recorded 10.82 million shares valued at N48.02 million in 54 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 8.65 per cent of the market turnover, with 21.09 million shares valued at N17.57 million in 223 deals.