The Nigerian Stock Exchange (NSE) has suspended three market operators over market infractions.

According to a report released on Thursday by the disciplinary committee of the national council of the NSE, the affected firms are: Apel Asset and Trust Limited, EDC Securities Limited and Calyx Securities Limited.

The report stated that the three firms engaged in market manipulation and have been suspended from activities at the bourse for one week, along with a fine of N15 million which will be paid by Apel Asset and Trust and N5 million to be paid by EDC Securities.

The exchange said one of the three erring companies, Calyx Securities, had its cash fine reduced from N1.5 million to N1 million after it admitted to its infraction, fully co-operated with the investigators, pleaded for leniency and is a first time violator.

Meanwhile heavy losses recorded by market heavyweights plunged the all share index at the stock market into negative territory.

Brewery giant, Guinness Nigeria Limited was the worst hit, shedding N17, closely followed by Nestle with N15:06 kobo and Dangote Cement, which lost close to N9.

Cement stocks made up some of the session’s top gainers with Wapco Cement emerged the most profitable.

Some of the biggest contributors to market turnover include Transcorp PLC, FBNH and FTN Cocoa.

When trading ended for the session, the all share index was down 1.9 per cent at 33,075.14 points, while the market capitalization closed down at 10.58 trillion naira.

Volume was also lower at 411.2 million shares valued at over N7 billion, and executed in 5,529 deals.