At the sound of closing gong on the Nigerian Stock Exchange (NSE) on Thursday March 21, the All Share Index (ASI) declined further by 0.50 percent as investors chose not to buy stocks. The stock market has declined by 0.83percent week-to-date (WtD) and 2.64 percent month-to-date (MtD); while year-to-date (Ytd) is down by 1.73 percent.
The continuing releases of impressive corporate earnings couldn’t still impact positively on the stock market which saw its value decline by circa N60billion to N11.517trillion, from a high of N11.576trillion recorded the preceding trading day.
The NSE All Share Index declined to 30,885.31 points against the preceding trading day high of 31,040.84 points.
Seplat Petroleum Development Company Plc recorded the highest decline after its share price dropped from N581.6 to N550, down by N31.6 or 5.43percent.
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Dangote Cement Plc followed after its share price declined from N189.4 to N188.1, losing N1.3 or 0.69percent; while GTBank Plc was down by 65kobo or 1.77percent, from N36.8 to N36.15.
Cement Company of Northern Nigeria Plc stock price rallied most from N19 to N20, up N1 or 5.26percent. PZ Cussons Nigeria Plc also advanced from N10.5 to N11.25, up 75kobo or 7.14percent; Eterna Plc advanced from N4.4 to N4.8, up 40kobo or 9.09percent; while Access Bank share price advanced from N6.5 to N6.9, adding 40kobo or 6.15percent.
Stock dealers in 3,869 deals exchanged 250,029,269 units valued at N2.430billion. Access Bank Plc, Zenith Bank Plc, UBA Plc, FBN Holdings Plc and Fidelity Bank Plc were actively traded stocks on the Nigerian Bourse.
In a related development, the Nigerian Stock Exchange notified Dealing Members of lifting of suspension placed on the trading in the shares of Thomas Wyatt Nigeria Plc.
In a statement signed by Lilian Dako for the head, listings regulation department, the NSE referred to its Market Bulletin dated November 1, 2018 with Reference Number: NSE/RD/LRD/MB01/18/11/01 which “we notified Dealing Members of the suspension of six (6) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange,”.
The Rules provide that if an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) suspend trading in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”
“Thomas Wyatt Nigeria Plc which was one of the suspended companies has now filed its outstanding Interim Financial Statements to The Exchange.
“In view of the submission of the Company’s outstanding financial statements and pursuant to Rule 3.3 of the Default Filing Rules which provides that: “the suspension of trading in the Issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.
“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”.
“Dealing members are hereby notified that the suspension placed in the trading of the shares of Thomas Wyatt Nigeria Plc was lifted today, Wednesday, 20 March 2019”, the NSE stated in the notice.
