Stock Exchange Inducts Newly Qualified Stockbrokers

Photo L-R: Willie Sam Ndata, Doyen of Stockbrokers; Olunseyi Abe, President, Chartered Institute of Stockbrokers (CIS); Pai Gamde, Acting of Corporate Services Division, The Nigerian Stock Exchange (NSE); Oscar Onyema, Chief Executive Officer, NSE; Ade Bajomo, Executive Director, Market Operation and Technology, NSE; Mojisola Adeola, Head, Council Secretariat/ Council Secretary, NSE and  Steven Falomo, Head, Securities and Exchange Commission (SEC), Lagos Zonal Office at the Induction Ceremony for Newly Qualified Authorised Dealing Clerks at the NSE.

The management of the Nigerian Stock Exchange (NSE) on Friday inducted 50 newly qualified and authorised dealing clerks to the trading business of the nation’s bourse.

Speaking at the ceremony, the Chief Executive Officer of the NSE, Oscar Onyema, said that of the 57 candidates who had already passed the Chartered Institute of Stockbrokers (CIS) examination and have gone through the mandatory practical Automated Trading System (ATS) training at the Exchange, only the 50 newly inducted candidates passed the oral examination.

Mr. Onyema said, “At the Exchange, we believe that people will always make the difference in any endeavour, especially the capital market, when every other supporting conditions are right. It is for this reason that we carefully put prospective employees, dealing members, and other players through a stringent screening process that ensures only the cream of the crop make it through our doors.”

Photo L-R: Mrs Adetutu Ayantayo, Managing Director, Mountain Investment and Securities Limited celebrating with one of the newly inducted stockbroker -Mr Emmanuel Adepoju & Wife.

Hence, he admonished the new stockbrokers to see the induction ceremony as “a call to stand tall in integrity, to be impeccable in character, to be professional in service and to uphold the high ethics and values for which the Exchange and the capital market are renowned,” adding that this “is the big hurdle that you must cross effortlessly in your daily practice of this profession.”

Weekly Market Report –Week Ended Jan. 27, 2017
Meanwhile, at the end of trading this week, a total turnover of 990.584 million shares worth N18.823 billion in 14,917 deals were traded by investors on the floor of the Exchange; in contrast to a total of 1.340 billion shares valued at N8.903 billion that exchanged hands the previous week in 15,733 deals.

The Financial Services Industry (measured by volume) led the activity chart with 664.647 million shares valued at N3.896 billion traded in 8,056 deals; thus contributing 67.10% and 20.70% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 133.641 million shares worth N2.602 billion in 2,653 deals. The third place was occupied by Conglomerates Industry with a turnover of 63.189 million shares worth N88.834 million in 635 deals.

Trading in the Top Three Equities namely – Zenith International Bank Plc, Champion Breweries Plc and Diamond Bank Plc (measured by volume) accounted for 252.189 million shares worth N1.822 billion in 1,841 deals, contributing 25.46% and 9.68% to the total equity turnover volume and value respectively.

The NSE All-Share Index and Market Capitalization appreciated by 0.40% to close the week at 26,328.22 basis points and N9.059 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE Premium Index that depreciated by 0.13% while the NSE ASem Index closed flat.

A total of 29 equities appreciated in price during the week, lower than the 30 equities of the previous week. Thirty equities depreciated in price, higher than the 27 equities of the preceding week; while 116 equities remained unchanged, lower than the 118 equities recorded in the previous week.