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NSE Upgrades​ X-Issuer to Further Enhance Market Integrity

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Nigerian Stock Exchange Revamps​ X-Issuer to Further Enhance Market Integrity

The Nigerian Stock Exchange (NSE or The Exchange) is pleased to announce the upgrade of its Issuers’ Portal (X-Issuer) on Monday, 06 July 2020.

X-Issuer which was first launched in 2013, is a secure web-based portal designed to enable Issuers conveniently file information in an electronic format to The Exchange. It is a key regulatory initiative of the NSE, developed to ensure electronic delivery of Issuers’ mandatory filings and other information in a structured and continuous manner to capital market stakeholders.

The enhanced X-Issuer, accessible via, https://ip.nse.com.ng, comes with a modern layout, improved functionalities, and new user-friendly features to further enhance the compliance and regulation experience of Issuers. Some of the new features include the Release Calendar Module to allow issuers proactively file corporate actions and upcoming meetings, and an information channel for Fund Managers to share information about their funds.

Speaking on the development, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON noted that, “This upgrade affirms our commitment to eliminating information asymmetry in our market and protecting investors. The X-Issuer has, therefore, been enhanced to ensure that investors, analysts, and other stakeholders are better able to evaluate data in an accurate, timely, and more efficient manner. We are positive that the improvements we have incorporated will achieve greater transparency, integrity, and accountability in our capital market; facilitate informed investment decision-making while providing an enhanced experience for issuers.”

On her part, the Executive Director, Regulation Division, NSE, Ms. Tinuade Awe, stated, “At the NSE, we understand the importance of information in driving a vibrant capital market. As such, we are pleased to introduce the revamped X-Issuer to the market with its new features that will enable easy, convenient and more reliable submission and dissemination of company information, corporate actions, directors’ and insiders’ share dealing information, financial statements, earnings forecasts, meeting notices, and much more. We believe that the upgraded X-Issuer will further enhance the experience of issuers and expedite the discharge of post-listings obligations in a cost-effective and efficient manner.”

The Exchange remains committed to investing in business innovation and technological enhancements that will enable it to meet the needs of its stakeholders especially as we transition to a world of reduced physical interactions. The X-Issuer is one of The Exchange’s dedicated efforts to improve the level of services it provides to the market while enhancing its ability to compete effectively in the global marketplace.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Nigerian Stock Exchange

Stocks on Nigerian Exchange Limited Sustains Gain on Tuesday

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Stock Bull - Investors King

Listed stocks on the Nigerian Exchange Limited gained N36 billion on Tuesday to sustain Monday’s positive momentum.

The bourse All-Share Index rose by 0.18 percent from 39,312.74 index points on Monday to close at 39,382.96 index points on Tuesday. While the market value of listed equities expanded by N36 billion to settle at N20.527 trillion, up from N20.491 trillion recorded on Monday.

Investors traded 296.596 million shares valued at N3.362 billion in 4,265 transactions during the trading hours of Tuesday.

Meyer led gainers with N0.05 or 9.62 percent gain to close at N0.57 per share. This was followed by Presco with N6.90 or 9.58 percent gain as shown below.

Stock Market Snapshot

ASI 39,382.96
DEALS 4,265.00
VOLUME 296,596,623.00
VALUE N 3,361,573,907.37
EQUITY CAP N 20,527,328,320,996.84
BOND CAP N 17,216,586,380,738.50
ETF CAP N 18,261,586,163.62

Top Gainers

Symbols Last Close Current Change %Change
MEYER N0.52 N0.57 0.05 9.62%
PRESCO N72.00 N78.90 6.90 9.58%
UAC-PROP N0.76 N0.83 0.07 9.21%
AFRIPRUD N6.00 N6.55 0.55 9.17%
UNITYBNK N0.55 N0.60 0.05 9.09%

Top Losers

Symbols Last Close Current Change %Change
REGALINS N0.34 N0.31 -0.03 -8.82%
HONYFLOUR N1.20 N1.13 -0.07 -5.83%
CUTIX N2.21 N2.10 -0.11 -4.98%
UCAP N6.00 N5.76 -0.24 -4.00%
WAPIC N0.53 N0.51 -0.02 -3.77%

Top Trades

Symbols Volume Value
ACCESS 58,558,705.00 N494,147,223.85
UACN 38,274,061.00 N394,222,603.70
FIDELITYBK 27,150,533.00 N62,355,969.20
ZENITHBANK 26,421,735.00 N609,738,886.60
TRANSCORP 15,626,067.00 N14,179,618.10

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Global Sell-off Should be a Reality Check for Investors: deVere CEO

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Global Sell off - Investors King

Concerns about inflation that are rattling global stock markets on Tuesday should be used as a reality check for investors, says the CEO of one of the world’s largest financial advisory and fintech organizations.

The observation from Nigel Green, chief executive and founder of deVere Group comes as the pan-European Stoxx 600 index dropped 2.3%, with London’s FTSE 100 falling 2.4%.

Losses in Europe follow those in the Asia Pacific region. Hong Kong’s Hang Seng closed more than 2% lower and Japan’s Nikkei 225 ended the Tokyo trading session having shed more than 3%.

Meanwhile, U.S. futures are down across the board ahead of the opening bell in New York.

Mr Green says: “It is to be expected that there would be a jump in prices and supply shortages, in goods like chips and some commodities, as economies re-open and pent-up demand is unleashed by households, businesses and entire industries.

“We’re at a point of major readjustment following an unprecedented economic shock and this is fuelling concerns that rising inflation will trigger central banks to tighten monetary policy which will hit asset prices.

“It is this scenario that is rattling markets and triggering a global sell-off.”

He continues: “Tech shares are bearing the brunt of the sell-off, but this will also be used as an opportunity.

“With our daily lives becoming ever more digitalized – and at a staggering pace – tech will remain one of the mega-trends for investors for the foreseeable future.

“Savvy investors will be drawn to the massive growth that tech offers and this sell-off will used as a buying opportunity.  Nobody seriously believes the future isn’t online.”

Therefore, says Mr Green, investors would be wise to be “selective” about the sell-off.

“With some of the heat being taken out of the markets, with some stocks way too high, they are likely to – perhaps more judiciously than before – move to capitalize on this dip.”

The deVere CEO concludes: “Of course, I don’t have a crystal ball, but history shows that stock markets typically rise over the longer-term.

“Therefore, in the near future, I predict many investors will be seeking out the buying opportunities that exist.”

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Nigerian Stock Exchange

Investors Jump on Union Bank of Nigeria’s Shares Amid Acquisition Rumour

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Union bank - Investors King

Shares of Union Bank of Nigeria Plc, a leading financial institution in Nigeria, rose by 50 kobo or 9.26 percent on Monday following reports that Atlas Mara Limited, a 49.7 percent owner in the bank has been talking to investors to sell its stake.

Investors King had reported that Bloomberg sources claimed Atlas Mara Limited, a London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond is in talks with Zenith Bank, Access Bank and other investors across Africa to sell its holding in the bank.

Since the report became public investors have been acquiring shares of Union Bank in case Zenith Bank or Access Bank, one of the leading banks in the country, acquire it. Even the bank’s CEO, Godson Chukwuemeka Okonkwo, purchased an additional 2,431,917 ordinary shares of the bank on Thursday, according to the bank’s latest disclosure filing.

Union Bank of Nigeria was the third-highest gainer on Monday.

The Nigerian Exchange Limited gained N59.4 billion on Monday to close at N20.491 trillion on Monday.

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