Nigeria’s equities market rose by 0.35 percent on Tuesday, its first positive close this week as investors digest the latest earnings results for market guidance.

Stocks like Conoil, CAP, NAHCO, UACN and others helped the market’s positive close on Tuesday. Conoil rallied most after its share price increased from N90.90 to N99.95, up by N9.05 or 9.96percent.

Investors sold stocks like Dangote Sugar Refinery and Vitafoam.

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It was followed by that of NAHCO which increased from N33 to N36.30, after it added N3.30 or 10percent. CAP also rose from N26 to N28.60, adding N2.60 or 10percent. UACN also rose from N13.50 to N14.85, up by N1.35 or 10percent.

At the close of trading session on Tuesday, the Nigeria Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding trading day’s lows of 97,879.94 points and N55.40trillion to 98,225.63 points and N55.553trillion.

The market’s year-to-date (YtD) return also increased to 31.36 percent. In 9,350 deals, investors exchanged 552,209,308 shares worth N14.919billion. GTCO, FBN Holdings, Access Corporation, Transcorp and UBA were actively traded stocks on Tuesday.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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