Remarkable rally by Northern Nigeria Flour Mills as well as that of other top gainers like Infinity Trust Mortgage Bank and Caverton Offshore Support Group pushed the equities market higher by 0.09percent on Tuesday.

This week, the market has risen by 0.11percent while month-to-date (MtD) it is up by 1.55 percent.

At the close Tuesday’s trading, Nigeria’s equities market All-Share Index (ASI) and its capitalisation increased from preceding day’s 72,404.91 point and N39.621 trillion respectively to 72,470.1 points and N39.656 trillion. Investors gained about N35billion.

The share price of Northern Nigeria Flour Mills increased from a low of N38.75 to N42.40, after adding N3.65 or 9.42percent.

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Likewise, Caverton Offshore Support Group rose from a low of N1.60 to N1.76, after adding 16kobo or 10percent. Infinity Trust Mortgage Bank made the top advancers league after its share price increased from N3.10 to N3.41, adding 31kobo or 10percent. The stock market has gone up this year by 41.40 percent.

UPDC REIT, UBA, Veritas Kapital Assurance, Access Corporation and FCMB were actively traded stocks on Tuesday.

Investors in 6,870 deals exchanged 411,213,838 shares valued at N6.948billion.

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By Iheanyi Nwachukwu • December 20, 2023

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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