SEC recommends Dangote Cement, Nestle, others for margin trading
THE Securities and Exchange Commission (SEC) has recommended stocks of Conoil Plc along many others for investors who wish to engage in margin trading.
The margin trading list, as released by SEC, is based on the commission's rules and guidelines, which it instituted with a view to curbing excessive speculation on the floor of the Nigerian Stock Exchange (NSE).
They are shares adjudged by the Commission to have enough liquidity and fundamental strengths to sustain margin trading.
The list also included Nigerian Breweries Plc, Cadbury Nigeria Plc, Guinness Nigeria Plc, Julius Berger Nigeria Plc, UACN Property Development Company Plc, Okomu Oil Palm Plc, PZ Cussons Nigeria Plc, Unilever Nigeria Plc, Flour Mills of Nigeria Plc and Ashaka Cement Plc.
Others are International Breweries Plc, Lafarge Cement Plc, Wapco Nigeria Plc, National Salt Company of Nigeria Plc, Nestle Nigeria Plc, Nigerian Aviation Handling Company Plc, Honeywell Flour Mills Plc and Dangote Cement Plc.
According to the Commission, the margin list is part of its efforts to forestall previous market crash.