Banking stocks lift equity market by 0.03%

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Banking stocks lift equity market by 0.03%

Equities trading on The Nigerian Stock Exchange (NSE) Tuesday closed marginally positive with the performance indices of the All-Share Index and Market Capitalisation growing by 0.03 percent to halt the five consecutive losing streak.

The upturn was buoyed by buy-interest in some banking stocks. However, the market breath closely negative, recording 16 gainers as against 24 losers.

The All-Share Index increased by 10.77 absolute points, representing a growth of 0.03 percent to close at 40,164.86 points. While the overall Market Capitalization value gained N5.63 billion, representing a spike of 0.03 percent to close at N21.01 trillion.

At the close of trading, Livestock and AIICO Insurance Plc emerged as joint-top gainer with a price appreciation of 7.14 percent, while SUNU Assurance emerged as top loser by percentage points for the day’s trading, with the price depreciation of 9.88 percent.

The  gain was driven by price appreciation in large and medium capitalized stocks amongst which include Flourmills 6.16 percent, Zenith 4.84 percent, Guinness 4.07 percent, United Capital 3.50 percent, United Bank for Africa  (UBA) 1.19 percent, and Guaranty Trust Bank 0.82 percent.

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