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3 days ago
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- The Nigerian banal marketplace kicked disconnected the caller week with a mediocre show arsenic investors mislaid N21 billion
- Data shows that the losers' array was led by International Energy Insurance Plc, Continental Reinsurance Plc, among others
- Stocks similar Access Holdings, Zenith Bank, Fidelity Bank, and United Bank for Africa were the astir traded stocks
Legit.ng journalist 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 opened the week connected a antagonistic note, by 0.03 percent oregon N21 cardinal connected Monday, April 14.
Data from the Nigerian Exchange Limited (NGX) showed that the marketplace All-Share Index (ASI) slipped to 104,529.62 points from 104,563.34 achieved connected Friday, past week.
Source: Facebook
Also, marketplace capitalisation decreased from N65.706 trillion to N65.685 trillion. On Monday.
Snapshot and prediction for the market
Banking stocks were actively traded connected Monday, led by Access Holdings, Zenith Bank, Fidelity Bank, UBA and GTCO. In 14,583 deals, investors exchanged 428,163,482 shares worthy N10.518 trillion.
In their presumption on what could signifier the marketplace connected Tuesday, United Capital probe analysts said:
"Looking ahead, the equities marketplace whitethorn stay subdued owed to the precocious involvement complaint situation successful the fixed-income space. We expect that bearish sentiments volition proceed to persist successful the background."The upcoming Monetary Policy Committee (MPC) gathering successful May has prompted immoderate investors to follow a wait-and-see approach, starring to reduced enactment successful the equities market."At the aforesaid time, retail investors are engaging successful profit-taking, triggering selloffs that hinder sustained upward momentum successful banal prices."
Source: Facebook
Top Active Trades
- Access Holdings Plc recorded a turnover of 55.99 cardinal shares valued astatine N1.15 billion.
- Zenith Bank Plc traded 55.43 cardinal shares worthy N2.76 billion.
- Fidelity Bank Plc exchanged 39.00 cardinal shares valued astatine N725.87 million.
- United Bank for Africa Plc recorded 33.19 cardinal shares worthy N1.04 billion.
- Guaranty Trust Holding Company Plc traded 31.02 cardinal shares amounting to N2.12 billion.
Top gainers
- Abbey Mortgage Bank Plc gained N0.61, rising from N6.13 to N6.74 per stock (+9.95%).
- UPDC Plc gained N0.28, moving from N2.85 to N3.13 per stock (+9.82%).
- Guinea Insurance Plc gained N0.06, expanding from N0.63 to N0.69 per stock (+9.52%).
- VFD Group Plc roseate by N8.30, climbing from N87.70 to N96.00 per stock (+9.46%).
- Sovereign Trust Insurance Plc gained N0.08, rising from N0.85 to N0.93 per stock (+9.41%).
Top losers
- International Energy Insurance Plc declined by N0.16, falling from N1.64 to N1.48 per stock (-9.76%).
- Consolidated Hallmark Holdings Plc dropped N0.25, decreasing from N3.00 to N2.75 per stock (-8.33%).
- Japaul Gold and Ventures Plc mislaid N0.15, moving from N2.01 to N1.86 per stock (-7.46%).
- Chams Plc declined by N0.15, dropping from N2.15 to N2.00 per stock (-6.98%).
- Neimeth International Pharmaceuticals Plc mislaid N0.20, decreasing from N2.88 to N2.68 per stock (-6.94%).
Naira appreciates against dollar
Ealier, Legit.ng reported that the Nigerian currency, the naira, has improved against the United States dollar successful the authoritative market.
Data from the CBN showed that the Nigerian Foreign Exchange Market (NFEM) ended trading connected Monday, April 4, astatine N1,605.25 a dollar.
Tuesday's speech complaint is simply a 0.04% depreciation for the naira compared to past Friday's speech complaint of N1,611.08.
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Source: Legit.ng
