By NKIRUKA NNOROM
The Nigerian Stock Exchange (NSE) increased the number of stocks in the portfolio of equity Market Makers with inclusion of Flour Mills, Unilever, Wema bank and Royal Exchnage Assurance to the list.
The addition has brought the total number of stocks to have rolled out by the NSE to-date to 43.
A statement from the NSE, noted that the inclusion of the stocks from Consumer Goods and Financial Services sectors will take effect on Thursday, January 31, 2013. The addition of the new stocks is in line with the planned phased approach for introducing stocks to the programme, from the baskets allocated to the Market Makers on The Exchange.
The NSE had said earlier that the move to add the additional stocks was in tandem with the promise 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.
The NSE had added that the roll-out period for all the stocks quoted on the Exchange is six months. This takes place every fortnight since its inception on September 18, 2012.
The 39 stocks covered by the programme now are: Dangote Cement, Oando, Transcorp, Julius Berger, Ashaka Cement, PZ Cussons Nigeria Plc, Nigerian Bag Manufacturing Company Plc; Presco Plc, International Breweries, Lafarge Wapco Plc, Fidson Healthcare Plc, Redstar Express Plc, Zenith Bank Plc, Sterling Bank Plc, DN Meyer Plc.
Others are Diamond Bank Plc, First City Monument Bank Plc, Fidelity Bank Plc, Nigerian Breweries Plc, Guaranty Trust Bank Plc, UAC Nigeria Plc, Access Bank; Academy Press Plc, Custodian & Allied Insurance, First Bank Plc, Dangote Sugar Plc, Union Bank Plc, National Salt Company of Nigeria Plc and Nestle Nigeria Plc.
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