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  • Business - Market Data
  • Updated: December 20, 2022

Stock Market Closes Flat As ASI Settles At 49,416.18 Points

The equity market closed flat on Tuesday as the All-Share Index (ASI) rose by 1.22 basis points or 0.002 per cent to close at 49,416.18 from 49,414.96 it opened for trading.

As a result, investors made N1 billion more as the market capitalization increased from N26.914 trillion on Monday to N26.915 trillion at the close.

Gains in medium- and large-capitalized stocks, including Vitafoam Nigeria, Ardova Plc, Zenith Bank, UPDC Real Estate Investment Trust (UPDCREIT), and Dangote Sugar Refinery, had an impact on the increase.

On market outlook, GTI Securities Ltd. said, “We expect sustained positive sentiments given the renewed attractiveness of the financial sector.”

Additionally, market breadth ended in the negative as 16 equities sank and 11 posted gains.

The largest price increase was 8.62%, achieved by UPDC Real Estate Investment Trust, which closed at N3.15 per share.

Following closely behind, Royal Exchange increased by 5.95% to conclude at 89 kobo, and Ardova Plc increased by 4.19% to close at N17.40 per share.

Custodian Investment increased by 2.75 percent to conclude at N5.60 a share, while Vitafoam Nigeria increased by 3.57 percent to close at N21.75.

Neimeth Pharmaceutical, on the other side, topped the losers' chart by 9.66% to settle at N1.31 per share.

Following closely behind was SCOA Nigeria, which lost 9.41% of its value to end the day at 77 kobo, and UACN Property Development Company (UPDC), which lost 7.07 to end the day at 92 kobo per share.

While Chams lost 4.55 percent to settle at 21 kobo per share, R.T. Briscoe Nigeria fell 6.90 percent to close at 27 kobo.

With 3,186 transactions, the total volume traded grew by 31.4% to 100.094 million shares, valued N1.296 billion.

Guaranty Trust Holding Company (GTCO) share transactions, totaling 16.438 million shares valued at N354.749 million, topped the list of activities.

United Bank for Africa (UBA) traded 7.119 million shares for N52.463 million, while Consolidated Hallmark Insurance traded 9.260 million shares worth N5.447 million.

Access Holdings traded 5.266 million shares worth N45.159 million, FTN Cocoa Processors traded 7.096 million shares worth N2.014 million.

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