Chinwendu Obienyi
The Nigerian Stock Exchange (NSE) is set to launch X-Mobile, a dynamic and user-friendly mobile app, to enhance investors’ participation in the Nigerian capital market.
The NSE mobile app which is currently in its beta state will be launched at the 2019 NSE Market Data Workshop tomorrow in Lagos.
X-Mobile is designed to provide market participants, especially retail investors, convenient, faster and real-time access to The Exchange’s activities. It features market snapshots, stock prices, market analytics, financial news, dealing members directory and trade simulation.
Speaking on the launch, the Divisional Head, Trading Business, Jude Chiemeka, noted that the delivery of the NSE Mobile App is consistent with NSE’s new strategic intent to leverage on the 4th Industrial Revolution (4IR) and the era of digitisation to enhance the operation of the market.
Chiemeka said: “The introduction of X-Mobile is part of our engagement strategy with existing and potential investors who now have increased thirst for data and detailed disclosure information to make sound investment decisions. This is one of the ways we are contributing to the attainment of Nigeria’s National Financial Inclusion Strategy of reducing the proportion of adult Nigerians that are financially excluded to 20 per cent in the year 2020.
The app will support our efforts at financial literacy and inclusion by bringing the capital market to the fingertips of market enthusiasts and spark new interest for potential investors”.
He also added that the X-Mobile would complement the NSE website and other NSE portals currently being used to provide information to market stakeholders while noting that the Exchange will continue to leverage technology with a customer-centric focus to make financial services more inclusive and to provide a superior customer experience in the access and use of capital.
Meanwhile, sell-offs in the shares of Nestle, CCNN and Dangote Cement dragged the benchmark index 0.16 per cent lower for the fifth consecutive trading session as the All Share Index (ASI) settled at 27,047.58 points..
Consequently, YTD loss worsened to -13.9 per cent while N21 billion was lost in value as market capitalisation fell to N13.158 trillion. However, activity level strengthened as volume and value traded advanced 25.4 per cent and 13.2 per cent to 364.2 million units and N4.9 billion respectively.