The bearish sentiment at the Nigerian Exchange (NGX) Limited continued on Tuesday April 6, the first trading day in a new week after Easter break.

The market’s benchmark performance indicator decreased by 0.39percent while investors lost about N79billion on renewed sell off, no thanks to stocks like MRS which topped the laggards.

MRS share price decreased from N12.1 to N10.9, losing N1.2 or 9.92percent.

Negative returns on Nigeria’s equities year-to-date (ytd) widened to -3.73percent at the close of the remote trading session.

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The All Share Index (ASI) closed the day at 38,766.61 points, from preceding day high of 38,916.74 points while equities value decreased to N20.282trillion from N20.361trillion recorded the preceding trading day.

In 4,675 deals, investors exchanged 224,594,153 units valued at N2.143billion. UACN, Access Bank, FBN Holdings, Zenith Bank and Fidelity Bank were most traded on the Bourse.

Also, ALEX joined the top laggards after its price decreased from N8.1 to N7.3, losing 80kobo or 9.88percent, followed by CHI Plc which moved from 32kobo to 29kobo, losing 3kobo or 9.38percent.

Sterling Bank made the top laggards after Tuesday’s trading session, from N1.85 to N1.69, losing 16kobo or 8.65percent, while Guinness dipped from N35.9 to N33, shedding N2.9 or 8.08percent.

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By Okafor Endurance • April 6, 2021

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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