Nigeria’s equities market ends bearish month a on positive note

Nigeria’s equities market closed positive (+0.47percent) on Monday May 31, the last trading day in the bearish month of May.

Investors booked about N94billion gain, thanks to stocks like MRS Plc which recorded the highest gain, from day open low of N11.50 to N 12.60, after adding N1.10 or 9.57percent, while Vitafoam followed from a low of N10.10 to N 11, adding 90kobo or 8.91percent.

Record dips in two insurance stocks –Royal Exchange and Consolidated Hallmark Insurance (CHI) –that led the losers could not reverse the market’s journey into the green zone.

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By Iheanyi Nwachukwu • June 1, 2021

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.