Nigeria’s equities market moved further into the negative region on Tuesday, caused by record decrease in shares of International Breweries Plc, Fidelity Bank Plc and others; while PZ Cussons Plc and FCMB Group occupied the top advancers’ list as investors continued to taking profit on the Bourse while others bargain hunt across board.

International Breweries Plc decreased most on Tuesday from day-open high of N5 to N4.50, losing 50kobo or 10percent, followed by Fidelity Bank Plc which decreased from preceding day high of N3.28 to N3.12, shedding 16kobo or 4.88percent.

On the gainers table, PZ Cussons Plc increased most from N10.20 to N11.20, adding N1 or 9.80percent; while FCMB Group rose from a low of N3.11 to N3.40, adding 29kobo or 9.32percent.

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The stock market’s benchmark performance indicator –All Share Index (ASI) decreased by 0.11 percent from preceding day’s 46,893.86points to 46,843.09 points. Also, the value of stocks listed on the Nigerian Exchange Limited (NGX) decreased by about N28billion, from preceding day’s N25.273trillion to N 25.245trillion.

In 4,125 deals, investors exchanged 214,327,583 shares valued at N1.79 billion. The market’s positive return year-to-date (YtD) reached new low of 9.79 percent, while month-to-date (MtD) the market has decreased by 1.05percent.

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By Iheanyi Nwachukwu • March 30, 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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