Trading activities on the floor of the Nigerian Stock Exchange on Thursday closed on the negative route following losses recorded by blue chip firms.

The members of the Nigerian Stock Exchange (NSE) voted overwhelmingly yesterday at its 59th Annual General Meeting ( AGM), a meeting which is expected to be its last as a mutual entity, to support the listing of the Nigerian Exchange Group Plc (NGXG) on the Nigerian Exchange Limited (NGX) once the demutualization of the NSE is completed. Under the resolution passed by the AGM, subject to the receipt of requisite approvals of relevant regulatory authorities, following the conversion and re-registration of NGXG, the Group is authorized to undertake a listing by introduction of its shares on NGX. Consequently, the NSE will no longer be wholly owned by its dealing and non-dealing members .

BOC Holdings Plc (BOC UK), which holds 60 per cent equity in BOC Gases Nigeria Plc (BOCGAS) is to sell its shares to TY Holdings.

The Nigerian Stock Exchange suspended its bearish run as market closed in green today, with the All Share Index gaining a 1.68% to close at 34,818.01 index point. Market capitalization similarly rose to N18.19 trillion from N17.89 trillion. Consequently, average year-to-date return improved to 29.25%.