Osinbajo visits NSE, wants more companies listed

Posted by News Express | 13 November 2016 | 1,789 times

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The Federal Government is determined to encourage more companies to list on the Nigerian Stock Exchange (NSE).

This is coming from the Vice President Yemi Osinbajo during his visit to the Nigerian Stock Exchange, on Friday.

On the plan to tackle the economic challenges, the Vice President said that there is need to partner with the broker-dealer community.

“As you know, several major companies have already indicated that they want to be listed on the stock exchange.

“I think for privatised companies, because they are privatised, the decision is not necessarily the decision of government, it has to be the decision of the new owners,” the Vice President told newsmen.

Meanwhile, despite the Vice President’s visit to the Nigerian stock market, the key index ended the week in the red amidst tight system liquidity as bearish sentiment dominated activities.

The all share index tumbled by 3% to finish at 26,170.88 with a market capitalisation of 9 trillion naira.

Investors exchanged 2.84 billion shares, valued at 7.42 billion naira in 16,065 deals.
The financial services industry led the activity chart with 2.63 billion shares, contributing 92.48 percent to the total equity turnover volume.

36 equities depreciated in price and top on that list was CCNN with 14.34%.
Air Service led 17 other price gainers for the week.

Standard Alliance Insurance, Chams and GTBank accounted for 81.16% or volume traded during the week. (Channels TV)

•Photo shows Vice President Osinbajo.

Source: News Express

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