See more as Another firm announces plan to delist as stock market ends March negative note

• Nigeria's banal marketplace ended the period of March antagonistic contempt 2 consecutive days of gains
• Cutix Plc, Guaranty Trust Holding Company Plc, Cutix, Fidelity Bank and Universal Insurance Plc were the astir actively traded stocks
• During the reappraisal week, lipid and state stocks faced selling pressure, portion industrial, banking, insurance, and user goods stocks attracted accrued request connected the NGX

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Nigeria’s equities marketplace recorded a 1.99% diminution successful March, contempt signaling a affirmative show connected Friday, March 28, the last trading league up of the Eid-el-Fitr nationalist holidays declared for March 31 and April 1.

Nigeria Stock Market decreases successful March Photo credit: Bloomberg/contributor
Source: Facebook

Despite the monthly decline, the marketplace gained 0.67% successful the trading week ended March 28, adding N438 cardinal to investors’ portfolios.

The week saw 3 days of positive closes against 2 days of losses, reflecting cautious optimism among marketplace participants.

The year’s cumulative instrumentality accrued to 2.67% arsenic of March 28, signaling resilience contempt broader marketplace fluctuations.

Analysts noted that plus managers' portfolio rebalancing activities up of the first-quarter (Q1) adjacent influenced trading patterns connected the last time of the period.

Here is simply a summary of marketplace connected Friday

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities marketplace capitalisation which started the week astatine 104,962.96 points and N65.819trillion roseate to 105,660.64 points and N66.257trillion connected Friday, March 28.

Top gainers

• UACN Property Development Company gained N0.27 (10.00%), rising from N2.70 to N2.97.
• Abbey Mortgage Bank Plc added N0.43 (10.00%), expanding from N4.30 to N4.73.
• Northern Nigeria Flour Mills Plc roseate by N7.95 (9.96%), climbing from N79.80 to N87.75.
• Mutual Benefits Assurance Plc gained N0.09 (9.38%), moving from N0.96 to N1.05.
• Royal Exchange Plc (Royalex) accrued by N0.08 (8.25%), from N0.97 to N1.05.

Top losers

• International Energy Insurance Plc declined by N0.18 (-10.00%), falling from N1.80 to N1.62.
• Africa Prudential Plc mislaid N1.45 (-10.00%), dropping from N14.50 to N13.05.
• Cadbury Nigeria Plc decreased by N2.45 (-9.42%), from N26.00 to N23.55.
• UPDC Real Estate Investment Trust declined by N0.55 (-9.09%), from N6.05 to N5.50.
• RT Briscoe Plc mislaid N0.20 (-7.69%), falling from N2.60 to N2.40.

NGX closed the period of March positive Photo credit: Bloomberg/contributor
Source: Getty Images

Most traded stocks (by measurement and value)

• Mutual Benefits Assurance Plc led trading with 73.94 cardinal shares, valued astatine N77.46 million.
• Cutix Plc recorded 72.03 cardinal shares, worthy N179.10 million.
• Guaranty Trust Holding Company Plc traded 67.85 cardinal shares, amounting to N4.57 billion.
• Fidelity Bank Plc saw 47.55 cardinal shares exchanged, valued astatine N904.25 million.
• Universal Insurance Plc had 33.01 cardinal shares traded, worthy N19.72 million.

MRS announces program to delist

MRS Oil Nigeria Plc has announced its volition to voluntarily delist from the Nigerian Exchange Limited (NGX) aft a beardown fiscal performance successful 2024.

Shareholders approved the determination during an Extraordinary General Meeting (EGM) connected June 25, 2024.

When completed, the fig of companies listed connected the Nigerian speech volition driblet to 149.

Zenith Bank announces monolithic profit

Ealier, Legit.ng reported that the Zenith Bank declared awesome gross successful 2024, importantly boosting the nett worthy of its shareholders, including laminitis Jim Ovia.

All cardinal metrics of Zenith Bank improved, cementing the fiscal institution's spot arsenic 1 of the best.

Adaora Umeoji, Group Managing Director/CEO, promised to make worth for customers and stakeholders.

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Source: Legit.ng