Capital Market B6
Daily Times Nigeria Thursday, July 21, 2016
Nigerian equities extend losses by 0.94% Afolabi Adesola The Nigerian equities market continued southward as lead indicators of the Nigerian Stock Exchange (NSE) dropped 0.94 percent compared to 0.85 percent lost in the previous session. The NSE All Share Index (ASI) lost 267.38 points to close at 28,221 basis points against a decline of 245.34 points recorded previously to close at 28,488.56 basis points, bringing the year to date returns to -1.47 percent. Market capitalisation also depreciated by N91.8 billion, settling at N9.692 trillion compared to N84.3 billion lost in Tuesday’s session after settling at N9.784 trillion. Oando Plc, led 27 decliners losers as it dropped 9.56 percent or 57 kobo to close at N5.39 per share, Law Union and Rocks Plc fell by 7.27 percent or 4 kobo to close at 51 kobo per share, while Transcorp Plc lost 7.24 percent or 11 kobo to close at N1.41 per share.
Stanbic Ibtc Plc also depreciated by 4.83 percent or 72 kobo to close at N14.20 per share while Fidson Healthcare Plc dropped 4.72 percent or 10 kobo to close at N2.02 per share. Conversely, Skye Bank Plc led the day’s eight gainers for the third consecutive day after gaining 8.33 percent or 6 kobo to close at 78 kobo per share, Premium Breweries Plc appreciated by 4.98 percent or 14 kobo to close at N2.95 per share, while Transnationwide Express Plc added 4.95 percent or 5 kobo to close at N1.06 per share. Dangote Sugar Plc followed with an increase of 2.26 percent or 15 kobo to close at N6.80 per share and NPF Micofinance Bank Plc gathered 1.06 percent or one kobo to close at 95 kobo per share. At the end of stock trading for the day, investors traded 309.7 million shares worth N2.1 billion in 3,934 deals compared to 242 million shares valued at N1.6 billion exchanged in 3,684 deals previously.
NSE provides Issuers Share Price Information service to Dangote Cement The Nigerian Stock Exchange has announced that it has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the NSE to display their respective share price on the homepage of their corporate website in Real Time or Delayed interval. Commenting on the onboarding of Dangote Cement Plc to the service, the Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said “we are excited to have Dangote Cement Plc join our growing number of companies who have subscribed to the NSE Market Data products and services, which continues to improve on a daily basis. With this, investors and other stakeholders of Dangote Cement Plc will now be able to see its share price in Real Time and thus be able to make informed decisions.”
Dangote
“The delivery of Market Data and its associated services is an essential building block in the Exchange’s strategy as it seeks to reach a wider audience to improve market transparency and facilitate informed investment decision making. We are committed to bridging the information gap between the Exchange and market participants, knowing that the stock market thrives on information”, he said.
Summary of activities on NSE ASI DEALS VOLUME VALUE CAP
28,221.18 3,934.00 309,719,602.00 2,083,486,329.70 9,692,547,278,455.08
267.38 POINTS
All Share Index (ASI) lost 267.38 points to close at 28,221 basis points against a decline of 245.34 points recorded previously to close at 28,488.56 basis points
CSCS achieves 98.4 percent dematerialization success rate The Central Securities Clearing System (CSCS) Plc has disclosed that 98.4 percent of shares quoted on the Nigerian Stock Exchange are now available in an electronic format in CSCS depository, leaving only 1.6 percent of share certificates still in physical certificate form. This disclosure was made recently by Mr. Joe Mekiliuwa, General Manager, Operations at CSCS during an interactive session with the capital market stakeholders in Lagos. Mr. Mekiliuwa said that CSCS is working assiduously with Registrars to ensure that full dematerialization is achieved before the end of 2016’s third quarter.. His words: “efforts are geared towards assisting the relevant Registrars to ensure that the remaining 1.6 percent although seemingly infinitesimal, is firmly attended to so as to achieve 100 percent success rate before the end of quarter three (Q3)”. According to him, in order to address various problems associated with share certificates such as delay in issuance, verification, loss, theft, forgeries amongst others, the Securities and Exchange Commission (SEC), in partnership with other stakeholders,
Dangote
resolved to eliminate these problems by opting for the full dematerialization of share certificates. Full dematerialization is the complete elimination of existing physical share certificates in the Nigerian capital market and putting to an end the issuance of new share certificates. The Registrars of companies, who are involved in the implementation process, are required by Securities and Exchange Commission (SEC) to turn in the registers of all companies they manage to CSCS Depository
within a given period of time. A statement issued by CSCS noted that “In compliance with SEC’s directive, Registrars have turned in 98.4 percent of the registers they manage and the shares are therefore held in the shareholders’ accounts in CSCS Depository in the custody of the respective Registrars. For the shares to be accessed by the shareholders in their accounts under a stockbroking firms, shareholders are required to instruct their registrars, through their brokers, to migrate such shares to their accounts with the stockbroking firms. “Consequently, shareholders are urged to approach the stockbroking firms of choice, obtain and fill a migration form which will be forwarded to the Registrar to enable them advise CSCS to migrate the shares to the shareholder’s account with the stockbroking firm and the shares are migrated by CSCS as advised. With reinforced commitment and determination at the commencement of the dematerialization exercise in June 2015, it has yielded significant success as incidences of forgery, theft and loss of share certificates have been eliminated.”