Equities market goes further south

Lafarge, Eunisell, Honeywell, others spur NGX third session of positive close

Nigeria’s equities market which opened the month of April in red, decreased further by 0.27percent or N84billion on Tuesday April 4.

The record consecutive negative close this month pushed lower this year’s record positive return to 5.43percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding day’s high of 54,184.34 points and N29.517trillion respectively to 54,035.39points and N29.436trillion.

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The stock market’s weak performance was caused majorly by continued selloffs in stocks like Zenith (-2.52percent), GTCO (-3.15percent) and Lafarge Africa (-0.77percent).

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the preceding day’s session, with the value of transactions up by 28.82percent.

The market recorded total of 296.74million units of shares traded in 4,590 deals and valued at N3.07billion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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