Equities open with N297b loss

Nigerian equities reopened yesterday with a streak of profit-taking on a day the federal government issued high-yielding bonds.

With government and companies actively raising yields at the fixed income market, investors appeared to be locking in profits and increasingly realign their portfolios in favour of debt issues. “We expect April, 2024 Inflation report to stand as a key economic data that investors will watch out for this week,” United Capital stated, referencing the Consumer Price Index report, which is scheduled for release tomorrow by the

On the positive side, Tantalizers and The Initiates Plc recorded the highest gain of 8.70 per cent each to close at 50 kobo and N2.50 respectively. Sterling Financial Holdings Company followed with a gain of 5.38 per cent to close at N4.70 per share. Ikeja Hotel rose by 5.37 per cent to close at N4.70 while University Press rallied by 4.65 per cent to close at N2.25 per share.

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