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.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated from preceding day’s high of 54,232.34 points and N29.544 trillion respectively to 54,184.34 points and N 29.517trillion.

Fidelity Bank, Transcorp, UBA, Access Corporation and Oando were top-5 actively traded stocks as equity traders in 4,408 deals exchanged 292,559,938 shares valued at N2.380billion.

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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