Turnover climbs by 142% as NGX reopens trading floor
Trading volume on Nigerian Exchange Limited (NGX) jumped by 142per cent from 103.2 million shares to 249.91 million shares on Tuesday.
NGX commemorated the reopening of the trading floor alongside the 30th anniversary of the Chartered Institute of Stockbrokers (CIS) on Monday, signalling a shift to norm after the COVID-19 pandemic forced a shift to full remote trading.
Whilst giving his remarks, the Chairman, NGX, Abubakar Mahmoud, CIS for its contributions to the capital market and thanked stockbrokers for their commitment to the market and cooperation with the Exchange during the remote trading period. He attributed the success of trading with zero downtime for 32 months to the investments of NGX in technology and the resilience of brokers.
The Chairman, NGX Group, Alhaji Umar Kwairanga during his remarks noted that it was to the credit of NGX, NGX Regulation, Central Securities Clearing System (CSCS), NGX Group and the stockbroking community that trading flowed seamlessly during the forced closure period. He however said, “I also know how physical interactions matter to us brokers and will continue to make sure that we see the impact of us coming back to the trading floor.
“We are also marking this alongside the ceremony commemorating our 30th anniversary and I hope that this is just the beginning of greater collaboration between brokers, NGX Group as a whole and the capital market,” he added.
Complementing the Chairmens’ comments, the Chief Executive Officer, NGX, Mr Temi Popoola said, “NGX will continue to support the initiatives of the institute and cooperate for the further advancement of the capital market.”
Meanwhile, N2.5trillion worth of shares were traded on the floor of the Exchange on Tuesday in 3,283 deals, a 16.97% from N2.14trillion worth of shares in 3,206 deals. The top 5 gainers at the end of trading were Unity Bank Plc (10 per cent), Thomas Wyatt Plc (8.57 per cent), Jaiz Bank Plc (6.38 per cent), Fidson Healthcare Plc (5.76 per cent), and Geregu Power Plc (5.09per cent).
