Equities market trades lower by 0.08%

THE Nigerian Equities market went further downwards on Wednesday as investors take profit.

The bourse shed eight basis points to bring the YTD returns to 36.34 per cent, just as the All share index and market capitalisation finished lower at 36,641.51 and 12.742 respectively. The market breadth closed in favour of the bulls with 13 gainers against 21 losers.

Volume of trades stood at 199 million shares in contrast to 209 million shares traded on Tuesday, while the value of those trades recorded N2.94 billion as against N4.71 billion.

The reduced levels in both volume and value of trades by 4.96 per cent and 37.65 per cent respectively was matched with a 7.66 per cent fall in the number of deals from yesterday’s closing count of 3,834 deals.

Transactions in the shares of Guaranty Trust Bank, Zenith Bank, Access Bank, Dangote Sugar and Guinness Nigeria topped the activity chart as most traded equities as measured by volume.

The consumer goods sector index was the only sectoral index to close in the green zone today. Industry and ASEM sector recorded the same figures as they did yesterday while all other sector performance indicators closed negative.

Meanwhile, the Nigerian Stock Exchange (NSE) has donated a school to the Borno State Government as part of its Corporate Social Responsibility (CSR) programme, to help Internally Displaced Persons (IDPs).

The school, Maisandari Alamderi Model Nursery and Primary School, located in the Abuja Talakawa District of Maiduguri, comprises two blocks of nine classrooms that will accommodate 330 students and an administrative block, housing the staff room, sick bay, security room and restrooms.

The school will be managed by Bridge International Academies, a renowned global educational firm that specializes in providing robust technology driven education system to low income households in developing economies. Other partners for the school intervention programme are Central Securities Clearing System (CSCS) Plc, Oando Foundation, AXAMansard Insurance Plc and MTN Foundation.

The Nigerian Stock Exchange undertook this project in support of the recovery effort articulated in the Recovery and Peace Building Assessment (RPBA) Report for North-East Nigeria, by the Federal Government of Nigeria, North-East State Government, the European Union (EU), the United Nations (UN) and the World Bank (WB) which highlights education as one of the strategic areas requiring urgent attention.

Speaking at the commissioning ceremony held on Wednesday in Maiduguri, Borno State, Mr Oscar Onyema, Chief Executive Officer, NSE, noted that the Exchange was committed to providing quality education and improving the financial literacy of the communities it serves.

“Education is one of the key foundational elements to building a peaceful and sustainable society. The donation of the Maisandari Alamderi Model Nursery and Primary School aligns with commitment to providing an inclusive, safe and positive teaching and learning environment, and we are pleased that this gift will support the educational system in the state to mould the next generation of leaders”.

The Governor of Borno State, Alhaji Kashim Shettima, commended The Nigerian Stock Exchange for complementing government efforts in the delivery of robust and quality education in the state.

“It is very heart-warming to have NSE make such a significant contribution to providing physical infrastructure and human resources for the newly built school we are commissioning today. With this gesture, The Exchange is addressing the challenge of providing a conducive learning environment which forms the bedrock of qualitative education. We are indeed grateful and we hope that this partnership continues for the long term”.

The Nigerian Stock Exchange leverages its unique position as one of the leading Exchanges in Africa, to promote sustainability along the four key impact areas of Marketplace, its platform for promoting market based approach to Environmental, Social and Governance (ESG) imperatives; Community, where it makes contributions to positively impact lives; Workplace, through which it facilitates diversity, wellbeing and harnesses the talent and skills of its people; and the Environment as it focuses on reducing the Exchange’s environmental impact.