Stocks start week bullish as ASI extends gains

Nigerian-Stock-Exchange-300x225THE equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] appreciated by 2.29 per cent to close at 30,369.97 basis points, compared with the 0.91 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.37 per cent.

Market breadth also closed positive as Guinness led 42gainers against 11losers topped by Vanleer at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover equally closed positive as volume moved up by 26.59 per cent against 34.27 per cent decline recorded in the previous session. Guaranty, Zenith Bank and FBNH were the most active to boost market turnover. Zenith Bank and Guaranty topped market value list.

Volume shockers included LinkAssure which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, the NSE has taken a decision to upgrade their information security systems.
This was sequel to the fact that not fewer than 30,000 websites are targeted by hackers according a disclosure by Sophos Lab to Forbes daily.

Recently the exchange was awarded the ISO 27001:2013 certification by the British Standards institute, a United Kingdom based global standards institution with over a decade history of helping companies achieve best practice standards in their operations across 150 economies.

The ISO 27001:2013 is the only auditable international standard which defines the requirements for Information Security Management System (ISMS). Also, the International Organization for Standardization (ISO) is the world’s largest developer and publisher of international standards required to install and sustain qualitative practices in organizations worldwide.

The certification achievement gives both the NSE and its stakeholders the confidence to trust the organisation with the safe-keeping and processing of their information as well as ensure that appropriate controls are in place to prevent wherever possible and manage risks in the unlikely event of a breach.

Commenting on the achievement, CEO of NSE Oscar Onyeama said “ISO Certification is an important reference for many international investors and I am extremely proud of our organization to have achieved this feat, a further testament to our commitment to deploy robust information management systems and processes across our service value chain in line with global standards.

‘’We have made significant investment in deploying cutting edge technology to facilitate trading of securities using our X-Gen platform and other enterprise applications and international standards such as this helps us to minimize risk. As ISO 27001 is the most stringent certification for information security controls, I congratulate our employees who worked diligently during this process.” he said.

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