See more as Nigerian stock market records first negative trading day

• Nigeria’s banal marketplace recorded its archetypal antagonistic trading time of the week connected Tuesday arsenic investors took nett from MTN, and others
• At the extremity of trading, information shows that Fidelity Bank, MTN Nigeria, Access Holdings, GTCO and Universal Insurance were astir actively traded
• Stocks similar Champion Brewery Plc, Cadbury Nigeria Plc and Eterna Plc are among the companies that led the gainers table

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

Nigeria’s banal marketplace recorded its archetypal antagonistic adjacent connected Tuesday, April 29, arsenic investors' profit-taking pulled the marketplace into the red.

Nigeria banal market Photo credit: NGX
Source: Facebook

Data shows that the Nigerian Exchange Limited (NGX) All-Share Index (ASI) declined by 0.18%, closing astatine 105,931.18 points from a erstwhile precocious of 106,116.18 points. Similarly, the marketplace capitalisation dropped by N116 billion, settling astatine N66.577 trillion compared to Monday’s N66.693 trillion.

Analysts astatine United Capital attributed the dip to increasing caution among investors amid a high-interest complaint environment.

In an April 28 probe note, they said:

“Looking forward, the equities marketplace mightiness stay dovish owed to the elevated involvement complaint situation successful the fixed-income market. We inactive expect bearish sentiments to linger successful the background.”

They added that the upcoming May gathering of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) volition apt support investors connected the sidelines arsenic they await guidance connected involvement complaint direction.

The Nigerian banal marketplace closed negatively connected Tuesday. Photo credit: nurphoto
Source: Getty Images

Snapshot of Tuesday's performance

Here is however the marketplace performed connected Tuesday.

Top gainers

• Legendint gained N0.75, rising from N7.50 to N8.25 per stock (+10.00%).
• Abctrans Plc gained N0.17, moving from N1.71 to N1.88 per stock (+9.94%).
• Cadbury Nigeria Plc gained N2.90, expanding from N29.25 to N32.15 per stock (+9.91%).
• Champion Brewery Plc gained N0.42, rising from N4.29 to N4.71 per stock (+9.79%).
• Eterna Plc gained N4.15, rising from N43.85 to N48.00 per stock (+9.46%).

Top losers

• Livestock Feeds Plc declined by N0.83, falling from N8.55 to N7.72 per stock (-9.71%).
• Multiverse Mining & Exploration Plc dropped N0.75, decreasing from N7.80 to N7.05 per stock (-9.62%).
• McNichols Plc mislaid N0.18, moving from N1.90 to N1.72 per stock (-9.47%).
• Omatek Ventures Plc declined by N0.06, dropping from N0.65 to N0.59 per stock (-9.23%).
• MTN Nigeria Communications Plc mislaid N15.50, decreasing from N255.50 to N240.00 per stock (-6.07%).

Top trades

• Fidelity Bank Plc recorded a turnover of 285.15 cardinal shares valued astatine N5.77 billion.
• Mtn Nigeria Communications Plc traded 86.85 cardinal shares worthy N20.93 billion.
• Access Bank Plc exchanged 35.57 cardinal shares valued astatine N851.28 million.
• Universal Insurance Plc recorded 29.81 cardinal shares worthy N15.19 million.,
• Guaranty Trust Holding Company Plc traded 28.51 cardinal shares, amounting to N1.94 billion.

Another Nigerian institution to database shares connected NGX for archetypal time

Ealier Legit.ng reported that the fig of companies connected the Nigerian Exchange is acceptable to summation with the listing of Legend Internet Plc.

The listing volition present let the shares of Legend Internet Plc to beryllium traded connected the Nigerian Exchange (NGX).

Legend Internet is simply a starring supplier of fibre-to-the-home (FTTH) services, offering high-speed internet.

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Source: Legit.ng