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    Stock market closes in red for 3 consecutive days

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    Trading session at the local bourse, the Nigerian Exchange limited, NGX, closed Wednesday on a bearish note as the NGX benchmark index declined by 230bps to close at 44,318.15 points.

    Hence  the Year-to-date (YTD) return of the market weakened to 3.8% from 7.5% the previous trading day.

    Top gainers in the market were led by FIDELITYBK (+9.7%), JAIZBANK (+7.1%) and MBENEFIT (+6.9%), while AIRTELAFRI (-10.0%), MRS (-9.8%) and IKEJAHOTEL (-9.7%) posted as today’s top losers.

    For the day’s trading activities, the total volume traded declined by 60.6% to 165.3mn units and total value traded gained 1.4% to ₦3.7bn. FBNH, GTCO and CHAMS led the volume chart with 48.0mn units, 18.5mn units and 7.6mn units respectively. On the other hand, AIRTELAFRI, MTNN and FBNH led the value chart with ₦1.2bn, ₦711.9mn and ₦461.8mn respectively.

    For indices under purview, performance was more bullish as three indices printed green and two indices printed red. 

    The Industrial Goods, Banking and Insurance indices gained 90bps, 50bps and 20bps respectively, which were accredited to buyers’ interests in BUACEMENT (+3.8%), FIDELITYBK (+9.7%), and MBENEFIT (+6.9%).

    However, the Oil and Gas and Consumer Goods indices declined by 80bps and 30bps respectively. The losses were attributed to investors’ selloffs in MRS (-9.8%) and NNFM (-9.6%).

    Here are the top gainers

    Fidelity Bank Plc, one of Nigeria’s leading commercial banks, reported an increase in profit after tax for the fiscal year ended 2021

    The bank posted ₦35.6 billion in profit after tax for the year, representing a 33.5% increase year-on-year.

    According to the results published on NGX, the bank’s profit before tax increased by 3.7% to ₦38.1 billion in 2021, up from ₦28.1 billion in 2020.

    The bank’s profit after tax for fiscal year 2020 decreased by 6.2% from ₦28.4 billion in 2019. Profit before tax also decreased in 2020 by 7.6% from ₦30.4 billion reported in 2019.

    Trading session at the local bourse, the Nigerian Exchange limited, NGX, closed Wednesday on a bearish note as the NGX benchmark index declined by 230bps to close at 44,318.15 points.

    Hence  the Year-to-date (YTD) return of the market weakened to 3.8% from 7.5% the previous trading day.

    Top gainers in the market were led by FIDELITYBK (+9.7%), JAIZBANK (+7.1%) and MBENEFIT (+6.9%), while AIRTELAFRI (-10.0%), MRS (-9.8%) and IKEJAHOTEL (-9.7%) posted as today’s top losers.

    For the day’s trading activities, the total volume traded declined by 60.6% to 165.3mn units and total value traded gained 1.4% to ₦3.7bn. FBNH, GTCO and CHAMS led the volume chart with 48.0mn units, 18.5mn units and 7.6mn units respectively. On the other hand, AIRTELAFRI, MTNN and FBNH led the value chart with ₦1.2bn, ₦711.9mn and ₦461.8mn respectively.

    For indices under purview, performance was more bullish as three indices printed green and two indices printed red. 

    The Industrial Goods, Banking and Insurance indices gained 90bps, 50bps and 20bps respectively, which were accredited to buyers’ interests in BUACEMENT (+3.8%), FIDELITYBK (+9.7%), and MBENEFIT (+6.9%).

    However, the Oil and Gas and Consumer Goods indices declined by 80bps and 30bps respectively. The losses were attributed to investors’ selloffs in MRS (-9.8%) and NNFM (-9.6%).

    Here are the top gainers

    Fidelity Bank Plc, one of Nigeria’s leading commercial banks, reported an increase in profit after tax for the fiscal year ended 2021

    The bank posted ₦35.6 billion in profit after tax for the year, representing a 33.5% increase year-on-year.

    According to the results published on NGX, the bank’s profit before tax increased by 3.7% to ₦38.1 billion in 2021, up from ₦28.1 billion in 2020.

    The bank’s profit after tax for fiscal year 2020 decreased by 6.2% from ₦28.4 billion in 2019. Profit before tax also decreased in 2020 by 7.6% from ₦30.4 billion reported in 2019.

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