See more as Nigerian investors count losses as stock market close negative

• For the archetypal clip successful the week, Nigerian currency recorded its archetypal antagonistic trading aft consecutive days of gains
• Analysts foresee a week wherever marketplace movements could beryllium tempered by investors selling disconnected immoderate of their holdings
• Lafarge Africa, Sovereign Trust Insurance, Cutix, Fidelity Bank and Access Holdings were the astir actively traded stocks

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 posted its archetypal diminution connected Wednesday, March 26, aligning with analysts' predictions of mixed trading sessions this week.

Data from the Nigerian Exchange showed that the marketplace could not prolong its 2 consecutive, marketplace couldn’t prolong affirmative arsenic it closed little by 0.10% oregon N74 cardinal connected Wednesday.

Stock marketplace falls connected Wednesday Photo credit: Bloomberg/contributor
Source: Facebook

Summary of trading activities

At the adjacent of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) moved down from highs of 105,593.28 points to 105,475.38 points, indicating a 0.10% drop.

Meanwhile, marketplace capitalisation dropped from N66.214 trillion a time earlier to N66.140 trillion connected Wednesday.

This means investors shed N74 cardinal aft the extremity of trading.

Here is simply a snapshot of the marketplace connected Wednesday

Lafarge Africa, Sovereign Trust Insuranc, Cutix, Fidelity Bank and Access Holdings were actively traded stocks arsenic investors in 10,908 deals exchanged 5,760,316,590 shares worthy N342.60 billion.

Top gainers

• Mutual Benefits Assurance Plc gained N0.08 (10.00%), rising from N0.80 to N0.88.
• Royal Exchange Plc added N0.08 (9.88%), expanding from N0.81 to N0.89.
• NEM Insurance Plc roseate by N1.20 (9.84%), climbing from N12.20 to N13.40.
• Lasaco Assurance Plc gained N0.24 (9.56%), moving from N2.51 to N2.75.
• eTranzact International Plc accrued by N0.50 (9.52%), from N5.25 to N5.75.

Investors suffer N74 cardinal successful hours of trading Photo credit: Bloomberg/contributor
Source: Getty Images

Top losers

• Union Homes Real Estate Investment Trust declined by N5.65 (-9.93%), falling from N56.90 to N51.25.
• ABC Transport Plc mislaid N0.15 (-9.80%), dropping from N1.53 to N1.38.
• Universal Insurance Plc decreased by N0.05 (-8.33%), from N0.60 to N0.55.
• DAAR Communications Plc declined by N0.04 (-6.45%), from N0.62 to N0.58.
• Champion Breweries Plc mislaid N0.20 (-5.00%), falling from N4.00 to N3.80.

Most traded stocks (by measurement and value)

• Lafarge Africa Plc led trading with 4.47 cardinal shares, valued astatine N330.15 billion.
• Sovereign Trust Insurance Plc recorded 607.06 cardinal shares, worthy N607.08 million.
• Cutix Plc traded 358.33 cardinal shares, amounting to N860.04 million.
• Fidelity Bank Plc saw 61.86 cardinal shares exchanged, valued astatine N1.18 billion.
• Access Holdings Plc had 43.79 cardinal shares traded, worthy N973.75 million.

Naira depreciates arsenic overseas speech outflows increase

Earlier, Legit.ng reported that the uncertainty of the ongoing tariff warfare betwixt the United States and immoderate countries has caused the exit of overseas speech from Nigeria, starring to a two-week depreciation of the naira.

The improvement prompted the Central Bank of Nigeria (CBN) to intervene successful the FX marketplace past week, selling astir $500 cardinal to boost supplies.

Data from the CBN shows that forex outflows grew by 78% successful January this year, starring to an N45.45 cardinal outflow successful dollar terms.

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Source: Legit.ng