Stock Market

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

The country’s equity market continued to perform well on Tuesday, rising by N53 billion on persistent investor interest in tier-one stocks.

ALSO, READ Indian Re/insurers Allowed To Raise New Forms Of Capital

In particular, the market cap increased by 0.2 percent to settle at N26.914 trillion as opposed to N26.861 trillion on Friday.

Additionally, the All-Share Index (ASI) increased by 98.67 points to close at 49,414.96 as opposed to the previous session’s reading of 49,316.29.

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The positive performance was largely driven by stocks of BUA Cement, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), and Access Holding.

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

Consequently, the year-to-date (YTD) return rose to 15.64 percent.

Market breadth closed negative as nine stocks advanced, while eight others declined.

Thomas Wyatt drove the gainers’ chart in percentage terms by 8.77 percent to close at 62k per share.

ALSO, READ FUGAZ Investors Make Gain Of N50 Billion During The Week

International Breweries followed with a gain of 5.81 percent to close at N4.55, while Pharma Deko rose by five percent to close at N2.10 per share.

Living Trust mortgage Bank went up by 4.9 percent to close at N1.50, while Caverton Offshore Technology appreciated by 3.45 percent to close at 90k per share.

On the other hand, PZ led the losers’ chart in percentage terms by 7.26 percent to close at N11.50 per share.

Investors In Tier-1 Banks, Others Raise Equity MarketBy N53 Billion

Chams followed with 4.35 percent to close at N22 per share.

UPDC Real Estate Investment Trust shed 3.33 percent to close at N2.90, while FTNCocoa Processors lost 3.23 percent each to close at N2.90 per share.

ALSO, READ How To Buy And Invest In Stocks 2023

Also, African Prudent Assurance declined by 2.73 percent to close at N5.35 per share.

The total volume traded dipped by 36.57 percent to 76.75 million units valued at N1.33 billion and exchanged in 3, 262 deals.


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