The Nigerian Stock Exchange has announced that a market-wide circuit breaker kicked in Thursday at 12:55p.m, when the NSE All-Share Index (NSE ASI) rose beyond the set threshold of 5%, triggering a 30-minute trading halt of all stocks. This was the first time that the circuit breaker had kicked in since its introduction in 2016.
The Circuit Breaker protocol was triggered by the increase of the NSE ASI from 33,268.36 to 34,959.39. The market reopened at exactly 1:25p.m. with a 10-minute intraday auction session, before resuming continuous trading till the close of the day at 2:30p.m.
During the halt of trading, no order could be placed until trading resumed. However, existing orders could be withdrawn or canceled but could not be modified.
Trading halts did not affect the clearing, settlement, and depository operations for matched trades, as these functioned as normal. Furthermore, all existing orders keyed in prior to the trading halt were re-activated and were matched upon resumption of trading.
Follow us on:
Barcelona faces severe flooding as search and rescue efforts continue.
https://www.youtube.com/watch?v=G8c8PG-x1gg The music producer and composer, Quincy Jones, who worked with Music Legends, including, the…
Prince William visits South Africa for Earthshot Prize, aiming to spotlight climate innovation and support…
Chad's President is considering exiting MNJTF, a regional security force, citing lack of cooperation against…
A Federal High Court in Abuja has ordered the arrest of Dana Air MD Hathiramani…
A High-ranking Equatorial Guinean official is facing a major sex scandal with 400 explicit sex…