ASHON floats commodity exchange, stocks exceed N13tn mark

August 9, 2017/Punch

Stanley Opara

The Association of Stockbroking Houses of Nigeria has commenced strategic training of capital market professionals as preparatory to the inauguration of its commodity and futures exchange.

The first training in the series was held on Monday under its Indian-based technical experts that exposed the participants to the fundamentals of commodity and futures market.

Speaking at the forum, ASHON’s Chairman, Mr. Patrick Ezeagu, explained that the core objective of the training was to develop the much-needed capacity that would operate in the planned commodity and futures exchange, which establishment is being led by ASHON.

Ezeagu noted that every aspect of the capital market had been undergoing changes, hence, the human capital that would operate in the new environment must have the skills and requisite competencies.

He said, “The market is expanding and the various kinds of market we are operating are equally changing as well.  From the purely equities market, we are moving into bonds and from bonds we are thinking about commodities and derivatives.

Meanwhile, the Nigerian Stock Exchange market capitalisation hit and exceeded the N13tn mark to close at N13.097tn from N12.933tn recorded on Monday this week.

A total of 218.216 million shares valued at N5.071bn exchanged hands in 5,336 deals.

The NSE All-Share Index closed at 37,999.56 basis points from 37,525.38 basis points.