Capital market operators have called on the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to reduce listing requirements to attract more firms to the NSE.
They said in Lagos that listing of more companies would boost activities in the capital market.
Mr Sehinde Adenagbe, the Managing Director, Standard Union Securities in Lagos, said that SEC and NSE should scale down listing requirements to encourage more companies to be quoted.
Adenagbe said that the stock market still had limited trade able equities because the number of unlisted companies far outweighed those listed.
Mr David Adonri, Chief Executive Officer, Lambeth Trust & Securities Ltd., Lagos, said that government should ensure the privatised agencies were listed on the NSE.
Adonri said that a robust capital market would facilitate enhanced growth and development of the country.
Meanwhile, the All-Share Index of the NSE appreciated by 351.11 points or 0.95 per cent last week to close at 37,342.73 from the 36,991.62 achieved in the preceding week.
Also, the market capitalisation appreciated by N115 billion or 0.98 per cent to close at N11.897 trillion due to price appreciation.
Forte Oil led the gainers’ table in percentage terms by 33.96 per cent or N16.30 to close at N64.30 per share.
Conoil followed with a gain of 21.49 per cent or N6.19 to close at N34.99, while Cadbury gained 10.47 per cent or N5.40 to close at N57 per share.
On the contrary, IHS topped the losers’ chart in percentage terms by 9.64 per cent or 27k to close at N2.53 per share.
International Energy Insurance Company trailed by 8.51 per cent or 8k to close at 86k, while Wapic Insurance dropped by 8.33 per cent or 8k to close at 88k per share.
A turnover of 895.21 million shares worth N11.66 billion were achieved in 14,989 deals against 1.48 billion shares valued at N15.16 billion achieved in 21,606 deals in the previous week.
The financial services sector remained the most active, accounting for 702.81 million shares worth N7.56 billion traded in 9,280 deals.
The conglomerates sector came second on the week’s activity chart, trading 82.50 million shares worth N307.99 million in 741 deals.
The consumer goods sector followed with a total of 48.37 million shares valued at N2.29 billion in 2,382 deals.
