Nigerian equity market extends upturn, gains 0.08%

The Nigerian equities market stretched its recovery to the second consecutive days on Tuesday as it appreciated 0.08 per cent, underpinned on gains by ETI, UBA, ACCESS and MTNN.
The All Share Index (ASI) was 0.08 per cent to close at 27,586.79 index points, while market capitalization also increased by N10.6 billon to N13.42trilion.
Tuesday’s gain helped cut the Nigerian capital market’s loss this year to -12.23 per cent as foreign portfolio investors’ still sit on the sideline due to the country’s slow economic growth.
International Breweries was the top gainer among 12 others, adding 10 per cent, while Trippleg lost 9.52 per cent to emerge the highest loser.
Investors traded 294.4 units worth N3.50 billion in 3,122 deals, causing the volume and value of stocks traded to rise 164.01 per cent and 123.95 per cent respectively.
UAC-PROP emerged the most traded stock with 61.66m units valued at N50.60 million exchanged.