Business

Investments appreciate as stock market records growth

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2 years ago

September 13, 2022

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Investors’ investment in the Nigerian stock market slightly appreciated on Tuesday as the value gained 0.004 percent, representing a gain of N1.08 billion, after the market capitalization rose to N26.768 trillion from N26.767 trillion.

The slight growth was driven by the All-Share Index which climbed from 49,625.71 ASI to 49,627.72, rising by 2.01 basis points.

This was on the back of investors trading over 160.24 million shares in 3,847 deals, valued at N1.48 billion on Tuesday, in contrast to the over 86.59 million shares worth N1.17 billion that was exchanged on Monday in 3,377 deals.

Multiverse led the gainers’ list with an N0.25kobo rise in share price to move from N2.58kobo to N2.83kobo per share. NPF Microfinance gained N0.12kobo to move from N1.53kobo to N1.65kobo per share.

Pharmdeko’ share value was up by N0.10kobo to end trading with N2.05 from N1.95kobo per share. Cutix gained N0.11kobo to close at N2.26kobo, above its opening price of N2.15kobo per share.

Fidelity Bank’s share traded upward by N0.10kobo to rise from N3.31kobo to N3.41kobo per share. Redstar Express topped the losers’ table after shedding N0.27kobo to drop from N2.70kobo to N2.43kobo per share.

Caverton’s share price dropped by 4.55 percent to end trading at N1.05 from N1.10kobo per share. Livestock lost 4.31 percent to end trading with N1.11kobo from N1.16kobo per share.

Sovereign Insurance lost 3.70 percent to drop from N0.27kobo to N0.26kobo per share.

Lasaco Insurance share dropped from N0.96kobo to N0.93kobo per share after losing 3.13 percent during trading. Zenith Bank led the day’s trading with 26.73 million shares valued at N536.64 million.

Courtville sold 24.10 million shares worth N11.32 million. Transcorp followed with 16.24 million shares valued at N16.99 million. IntenegIns traded 12.76 million shares worth N20.42 million, while Chams traded 9.31 million valued at N3.22 million.