By LAZARUS IBEABUCHI
The Nigerian Stock Exchange, NSE has added United Bank Plc, Ecobank Transnational Plc and Skye Bank Plc stocks into the list of stocks to be traded by the market makers.
In a statement signed by Wole Tokede, its Head/Media Relations, this will take effect from Thursday, October 18, 2012.
He said this is in line with the promise made by The Exchange that all the stocks quoted on the Exchange that are trading above par value will be added to the Market Making programme over a period of six months.
He noted that the nation's stock market has been reacting positively since the commencement of Market Making on the Nigerian bourse. For instance, the market capitalisation and All-Shares Index that stoop at N8.077 trillion and 25,373.83 respective on the eve of the commencement, stood at N8.628 trillion and 27,077.66 at the close of trading activities on Monday, October 15, 2012, representing an increase of 6.8 per cent. The initiative which kicked off in September 2012 with 16 stocks had nine other stocks added two weeks back. The additional three additional stocks now bring the number of stocks that Market Makers are making market on to 28.
The stocks covered by the initiative now are: PZ Cussons Nigeria Plc; Nigerian Bag Manufacturing Company Plc; Presco Plc; International Breweries; Lafarge Wapco; Fidson Healthcare Plc; Redstar Express Plc; Zenith Bank Plc; Sterling Bank Plc; D.N.Meyer; Diamond Bank; FCMB; Fidelity Bank Plc; Nigerian Breweries Plc; Guaranty Trust Bank Plc and UAC Nigeria Plc. (UACN).
Others are: Access Bank; Academy Press; Custodian & Allied Insurance; First Bank Plc; Dangote Sugar Plc; Union Bank Plc, NASCON and Nestle Nigeria Plc as well as AIICO Insurance Plc and the three newly added ones, the statement said.
