Equity Market Strengthens by 0.09%, as Banks Trade More Shares

The Equity Market of the Nigerian Exchange Ltd., on Tuesday appreciated, as the All-Share Index (ASI) grew by 65.91 points or 0.09 per cent to close at 72,470.10.

This is against 72,404.91 recorded on Monday.

The market capitalisation also rose by N36 billion or 0.09 per cent at 39.657 trillion, as against N39.631trillion recorded on Monday.

The improved record was driven by increase in the shares traded by some banks such as United Bank for Africa (UBA), Access Corporation and First City Monumental Bank (FCMB).

UPDC Real Estate Investment Trust (UPDCREIT) led the trader’s chart in volume by N42.02 miliion, while UBA led in value by N84.84 billion units.

On the gainer’s table, Infinity led in percentage terms of 10 per cent to close at N3.41, followed by Caverton which closed by 10 per cent at N1.76 and Northern Nigeria Flour Mills(NNFM) which closed by 9.42 per cent at N42.40.

RTBRISCOE however joined the gainers table by 9.09 per cent to close at 60k per share, while The Initiative Plc(TIP)closed by N1.18 at 8.26 per cent. Naira Devaluation Deepens Economic Crisis in Nigeria

On the loosers table, Omatek led in percentage terms by 10 per cent to close at 63k per share, while Prestige followed to close by 9.62 per cent at 47k and E-Tranzact closed at 9.60 per cent at N5.65 per share.

StanbicIBTC shed 9.08 per cent to close at 59.10k, while UPDCREIT Real Estate Investment Trust lost 9.02 per cent to close at N1.21k.