Transcorp Hotels, MTNN, FBNH, Oando, others push market to new low

Nigeria’s equities market decreased further on Wednesday by 1.20 percent as more investors chose to sell stocks like Transcorp Hotels, MTNN, FBN Holdings, and Oando.

These stocks and other major laggards like Transcorp Hotels and Fidson Healthcare pushed the market further south.

Transcorp Hotels led the league of top loser after its share price lowered from N97.70 to N87.93, losing N9.77 or 10 percent. Also, MTNN decreased from preceding day’s high of N224 to N201.60, losing N22.40 or 10 percent.

Likewise, Oando decreased from N10.10 to N9.10, down by N1 or 9.90 percent. FBN Holdings was also down, from N21.90 to N19.75, losing N2.15 or 9.82 percent, while Fidson Healthcare moved from preceding day’s high of N15.90 to N14.35, losing N1.55 or 9.75 percent.

Naira extends decline at official market as rate hits N1,308/$

By Zainab Aderounmu • April 24, 2024

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.