Suspension of 41 companies by the NSE for not submitting annual reports. The NSE-ASI closed at 24,310.03 -0.015% ,Volume for the week was a cumulative 1.685 billion shares
Although, former Minister of Finance and World Bank Managing Director, Dr Okonjo-Iweala was confirmed by the Senate to be a Minister in the new Jonathan administration, the market continued its downward drift. It appeared to mirror last weeks trading pattern with an uptick on Thursday only to reverse the next day, same as last week.However volume on that day was not at the same level. Suspension of 41 companies by the NSE for not submitting annual reports on time is not good news. CBN deadline of September 30, 2011 for sale of distressed banks to conclude puts some pressure on traders and optimists. The NSE-ASI closed at 24,310.03 -0.015% (-0.02% in the previous week). Volume for the week was a cumulative 1.685 billion shares (2.339 billion shares in the previous week). In a market still reeling from Transcorps strong performance this year, many have missed the +68% rise in Niemeth International.
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