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Nigeria’s equities tick up 0.08% on gains in UBA, Inter Breweries, Fidelity Bank

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By Samuel Bankole

The Nigerian equity market closed on a positive note on Tuesday, with the main index up marginally by 0.08 percent at the close of trading.

The growth in the market was driven by gains in the shares of International Breweries, BUA Foods, UBA, Dangote Sugar, and Fidelity Bank.

The shares of International Breweries rose  6.98 percent, Dangote Sugar rose 5.18 percent, BUA Foods increased by 2.78 percent, the United Bank for Africa (UBA) 0.66 percent and Fidelity Bank 0.60 percent.

Consequently, the All Share Index marginally increased by 0.08 percent to close at 68,334.68 points, while the market cap of equities listed on the NGX increased to N37.400 trillion from N37.370 trillion in the previous close.

The total volume traded closed with an exchange of 557.853 million units valued at N10.21 billion traded in 9,818 deals.

READ ALSO: BRICS: Consideration and implications of a single currency 

However, the market breadth was negative, with 30 gainers as against 31 losers.

The NGX 30 Index decreased by 0.11 percent to close at 2,516.61 points as against 2,519.45 points at the previous close.

Market turnover closed with a traded volume of 364.26 million units. International Breweries and Dangote Sugar were the key gainers, while Transcorp and FBNH were the key losers.

Meanwhile, the local currency appreciated on the I&E forex window, closing at N744.97 to the dollar compared with M747.87 to the greenback.

On the parallel market, the naira declined to N925 a dollar compared with N917 a dollar it closed at on the Bureau de change market on Monday.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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