Following sell pressure in 19 stocks, the Nigerian Exchange Limited sustained a sliding profile yesterday, as the All-share index plummeted further by 0.5 per cent.Following sell pressure in 19 stocks, the Nigerian Exchange Limited sustained a sliding profile yesterday, as the All-share index plummeted further by 0.5 per cent.
Analysts at United Capital Plc said: “We expect activities in the fixed income market to continue to stand as a strong demotivator toward equities investments. We expect April, 2024 Inflation report to stand as a key economic data that investors will watch out for this week.” Jaiz Bank appreciated by 2.98 per cent to close at N2.42 kobo. Japaul Gold garnered 2.83 per cent to close at N2.19 kobo. NPF MicroFinance Bank rose by 2.81 per cent to close at N1.83 kobo. First City Monument Bank also gained 2.53 per cent to close at N8.10 kobo.
The total volume traded advanced by 27.51 per cent to 439.100 million units, valued at N11.377 billion, and exchanged in 8,607 deals. Transactions in the shares of Notore Chemical Industries topped the activity chart with 74.426 million shares valued at N4.652 billion. The failure of the fiscal policies is the reason Nigeria has continued to struggle with a high unemployment rate, heavy debt burden and stagnant growth.
The Nigerian Insurers Association has called on the National Insurance Commission to implement the industry’s 10-year developmental plan before the end of the second quarter of the year.
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