Nigeria’s equities market on Tuesday recorded its second negative close into the week amid dearth of block buy-side transactions to elevate activity level. Investors booked about N52billion loss at the close of trading session on the Bourse.

Oando Plc led the top decliners after its share price decreased from N5.04 to N4.70, losing 34kobo or 6.75percent; followed by Champion Breweries Plc which decreased from N2.05 to N1.87; losing 18kobo or 8.78percent; and Axa Mansard Insurance Plc which decreased from N2.30 to N2.15, shedding 15kobo or 6.52percent.

On the advancers list, UACN led others after its share price rose from N11.60 to N12.15, adding 55kobo or 4.74percent, followed by FCMB Group Plc which rose from N3.40 to N3.67, adding 27kobo or 7.94percent; and NPF Microfinance Bank Plc which advanced from N2.31 to N2.53, up by 22kobo or 9.52percent.

Read also: Investors lose N6bn as equities fail to sustain gain

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The Nigerian Exchange Limited (NGX) the equities market’s benchmark performance indicator –All Share Index (ASI) which stood at a high of 47,251.93 points on Monday March 21, decreased by 0.20 percent to 47,156.56 points. The market’s record positive return year-to-date (YtD) also decreased to 10.39percent.

Also, the value of stocks listed on the Nigerian Exchange decreased by N52billion, from preceding day’s high of N25.466 trillion to N25.414trillion.

In 4,616 deals, investors exchanged 303,480,647 units valued at N3.902billion. Access Bank, UBA, Fidelity Bank, GTCO and Zenith Bank were actively traded stocks on the Nigerian Exchange.

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By Iheanyi Nwachukwu • March 23, 2022

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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