Stock market opens new month on a negative note -

Nigeria’s equities market opened the month of April in red, decreasing by 0.08percent or N27billion on Monday April 3, the first trading day of the new month.

The record dismal outing on the local Bourse pushed lower this year’s record positive return to 5.73percent.

The record dip at the Nigerian Exchange Limited was majorly fuelled by sell off in stocks like UACN which decreased most, from N9.55 to N8.60, losing 95kobo or 9.95percent. It was followed by Eterna which was down, from N6.80 to N6.15, shedding 65kobo or 9.56percent. Also, SCOA decreased from a high of N1 to 90kobo, losing 10kobo or 10percent.

Equities market goes further south

By Iheanyi Nwachukwu • April 4, 2023

Iheanyi Nwachukwu

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.