NCDC closes stock market with charges on COVID-19 protocols

The Director-General, Nigeria Centre for Disease Control (NCDC), Dr. Chikwe Ihekeazwu, sounded the digital closing gong for the last trading in 2020 with a charge to Nigerians to observe COVID-19 protocols.

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At the last trading session, equities rallied N397 billion in net capital gains in contrarian trading that defied COVID-19 lockdowns and disruptions. Average return during the session stood at 1.92 per cent.

Aggregate market value of all quoted equities at the Nigerian Stock Exchange (NSE) rose from its opening value of N20.660 trillion to close at N21.057 trillion. The All Share Index (ASI)- the benchmark value index, also rose from its opening index of 39,512.31 points to close at 40,270.72 points.

Ihekeazwu said the NCDC was extremely proud and grateful to the NSE for the honour to close the market for 2020 noting that the country has been faced by a common challenge which has facilitated a strong collaboration between the NCDC and NSE as well as the organised private sector.

According to him, the NSE has been truly supportive of the measures put in place by the Presidential Task Force on COVID-19 and the NCDC, encouraging members of the capital market community to adhere to necessary guidelines.

He noted that the lives that had been lost to the pandemic should push Nigerian and all stakeholders to be more responsible in the new year.

“We would like to take this opportunity to remind Nigerians to wear face masks, maintain, physical distancing, avoid mass gatherings and wash their hands frequently even as we move closer to the finish line,” Ihekeazwu said.

Divisional Head, Shared Services, Nigerian Stock Exchange (NSE), Mr. Bola Adeeko, pointed out that the year 2020 has been an eventful year for the Nigerian capital market and specifically for the NSE.

According to him, despite the economic impact of COVID-19, the market has remained resilient in providing stakeholders a platform to raise capital and invest.

“Despite the pandemic, the market capitalization of all securities listed on the Exchange increased to N38.5 trillion as at 31 December 2020 from N25.89 trillion at the end of 2019. The NSE All Share Index crossed the N21 trillion mark with a YTD return of 50.03 per cent. We have also continued to provide a platform to support listed companies in meeting their strategic business objectives as demonstrated in the over N1 trillion raised by governments and corporates across various asset classes year to date,” Adeeko said.

He outlined that as a responsible corporate citizen, the Exchange has continued to support the fight against COVID-19, having devoted the sum of N100 million to the fight against COVID-19, with N60 million donated to the Capital Market Support Committee for COVID (CMSCC) and the balance N40 million devoted to the ‘Masks for All Nigerians’ campaign.

He said the invitation to the NCDC to perform the ceremonial closing of the market was to further amplify the efforts of the NCDC to educate Nigerians on how they can navigate the COVID-19 pandemic, in the light of the resurgence.
“We thank Dr. Ihekeazwu for his exemplary leadership and reiterate the support of the Exchange to promote collective action in this fight,” Adeeko said.

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