- Equities Gain N117bn, CIS Reviews Certification Model
The equities market on Tuesday appreciated by N117bn as the Nigerian Stock Exchange market capitalisation closed at N9.249tn from N9.132tn.
The NSE All-Share Index advanced by 1.28 per cent to close at 26,756.21 basis points from 26,418.33 basis points, settling the year-to-date return at -0.44 per cent.
Volume of shares traded increased by 101.48 per cent, however, market value of transactions waned by 13.55 per cent. Thirty-four stocks recorded price appreciations while eight declined in value.
Oando Plc emerged as the top outperformer for the second day in a row, after appreciating by 10.14 per cent to close at its year-high of N8.69. Fidson Healthcare Plc, Transnational Corporation of Nigeria Plc, May & Baker Plc and Portland Paints Plc followed, appreciating by 9.52 per cent, 7.1 per cent, 5.94 per cent and 4.95 per cent, respectively.
Linkage Assurance Plc, Dangote Sugar Refinery Plc, Total Nigeria Plc, Lafarge Africa Plc and 7UP Bottling Company Plc emerged as the top losers, depreciating by 3.70 per cent, 3.58 per cent, 2.35 per cent, 2.22 per cent and 1.82 per cent, accordingly.
Meanwhile, the Chartered Institute of Stockbrokers has attributed the introduction of its Stand-alone Certification model to strategic decision to align with the global best practices.
The President and Chairman of Council, CIS, Oluwaseyi Abe, hinged the new certification, which is fast attracting enquiries, to the need for the institute to expand its focus as it had embarked on transformation programme.
He said this while addressing stockbrokers at the institute’s 22nd Annual General Meeting in Lagos, adding that the new certification model would enable the candidates to specialise and focus on their core career areas.
“This is in conformity with the global best practices and our proposed Chartered Institute of Securities and Investment Bill, which we will continue to lobby the National Assembly to pass into an Act,” he said.
Abe also stated that the CIS was actively involved in the development of the curriculum for the introduction of capItal market studiies in the primary and secondary schools in Nigeria by the Securities and Exchange Commission in collaboration with the Nigerian Educational Research and Development Council.