Nigeria’s equities market closed in the green zone on Tuesday, rising by about N43billion or 0.16percent, thanks to companies like BUA Cement, Union Bank, Cutix and other top advancers on the Bourse.

The market’s performance indicators – the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s lows of 49,629.43 points and N26.768trillion respectively to 49,709.46 points and N26.811 trillion.

Read also: Equities market closes further south

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BUA Cement led the league of top gainers after its share price increased by N1.40 or 2.63percent, from N53.20 to N54.60.

Union Bank also increased from N5.80 to N6, adding 20kobo or 3.45percent; while Cutix went up by 15kobo or 7.50percent, from N2 to N2.15. Lasaco was up by 6kobo or 5.88percent, from N1.02 to N1.08, while Academy Press also rose by 6kobo or 2.97percent, from N2.02 to N2.08.

The stock market’s positive return year-to-date (YtD) stood higher at +16.37 percent. In 3,643 deals, investors exchanged 204,162,649 shares valued at N1.640billion. FBN Holdings, Etranzact, UBA, Access Holdings and Eterna were top-5 traded stocks.

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By Iheanyi Nwachukwu • August 17, 2022

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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