NSE Suspends, Reopens Trading After Four Hours, Over Technical Hitch

NSE Suspends, Reopens Trading After Four Hours, Over Technical Hitch

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Post Views: 272 Trading on the Nigerian Stock Exchange (NSE) was suspended for about four hours on Monday, during which the platform experienced techn...

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Trading on the Nigerian Stock Exchange (NSE) was suspended for about four hours on Monday, during which the platform experienced technical issues.
In a notice, the NSE said it was investigating the cause of the challenge.
In another statement to announce resolution of the challenge, and without stating the nature of the “glitch,” Bola Adeeko, Head of Shared Services Division at the bourse, said it was “resolved and market transactions continued at 1:45 p.m.”
Due to the lost trading time, he explained, the NSE extended trading hours by one extra hour to 3:30p.m, from the usual time of 2:30 p.m.
“He further confirmed that the root cause of the disruption has been fully rectified,” he assured, stressing that the NSE has a robust business continuity framework in place with processes designed to forestall and reduce the impact of such unpredictable technical glitches when they occur.
According to him, “the bourse has a solid track record of high availability and systems resilience, whilst working with some of the cutting edge technologies required to power up a modern Exchange and will continue to work to enhance this”.
Trading however closed with the market closing 0.45% green at 29,964.79 basis points as 132.41m units worth N1.09bn changing hands in 2,542 deals, with Diamond bank leading the volume table by 50.1m units, followed by Access Bank’s 16.17m, among others.

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