Equities market adds 0.12%, as NSE launches new market surveillance platform

EQUITIES market closed trading on a positive note, as the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.12 per cent to close at 33,261.66 basis points as against 0.04 per cent appreciation recorded at the close of trading on Friday.

The upward trend in the Nigerian Stock Exchange (NSE) continued on Monday on the resumption of trading activities for the week.

The major market indicators closed today in the green zone, extending the bullish run to eight trading sessions, as the market capitalisation advanced by N13.7 billion to settle at N11.5 trillion, and the Year to Date (YtD) gain closed at 23.91 per cent.

However, market breadth ended negative on Monday with 23 equities appreciating compared with 26 stocks, which suffered losses.

International Breweries top the losers chart having shed N1.46 kobo to finish at N30 per share.

It was closely trailed by PZ Cussons, which declined by 85 kobo to end at N20.65 kobo per share, and Oando, which fell by 72 kobo to close at N6.83k per share.

NASCON slumped by 47 kobo to finish at N9.3 kobo per share, while Dangote Sugar capped the top five losers’ chart depreciating by 34 kobo to settle at N8.66k per share.

However, 7up emerged the highest gainer today after progressing by N5.72 kobo to settle at N94.95 kobo per share.

Forte Oil followed after increasing by N4.33k to close at N60.50k per share, and Unilever rose by N3.38k to end at N36.38k per share.

Meanwhile Nasdaq and the Nigerian Stock Exchange (NSE) have launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution to curb share manipulation.

The technology would, among other things, enable NSE to proactively monitor market manipulation, including spoofing and layering, detect and deter manipulative tendencies, gather intelligence, carry out traders’ monitoring and analysis, conduct multi-asset and cross-market surveillance, and execute risk-based supervision of flagged participants.

General Counsel and Head of Regulation of the NSE, Tinuade Awe said, “As we enter the growth phase of the development of our market, including the introduction of new asset classes such as derivatives, there will be the imperative of processing significant volumes of market information in real-time to detect anomalies.”

She explained further that, the SMARTS technology, which have successfully deployed, allows NSE team to proactively analyze patterns and trends to make sense of the vast amounts of data for investigative purposes and protection of investors, while strengthening the integrity of the market.

“Through SMARTS, NSE is leveraging the latest in surveillance technology and demonstrating its commitment to fostering a strong marketplace,” said Tony Sio, Head of Exchange & Regulator Surveillance, Market Technology at Nasdaq. “SMARTS performs universal surveillance of all asset classes and provides a strong platform for NSE to develop new products such as derivatives. We look forward to a long partnership with the NSE as the Nigerian markets evolve.”

Nasdaq SMARTS Surveillance solutions have been the industry benchmark for real-time, cross-market, cross-asset surveillance for 22+ years. Used by over 3,500 compliance professionals around the world, SMARTS currently powers surveillance at 47 marketplaces, 17 regulators and 140+ market participants across 65 countries.