Share Price of UPDC REIT Gains 32.53% in One Week


By Dipo Olowookere

UPDC Real Estate Investment Trust (REIT) was the highest price gainer last after it appreciated by 32.53 per cent to close at N5.50 per cent.

The company was among the 27 equities that appreciated in price during the week, higher than the 21 equities in the previous week.

The second highest weekly price gainer was Neimeth International Pharmaceuticals, which grew by 12.03 per cent to finish at N2.70 per unit, while the third place was occupied by NCR Nigeria, which gained 10.00 per cent to end at N1.98 per share.

11 Plc appreciated by 9.89 per cent in the week to close at N209.80 per unit, while University Press improved by 9.52 per cent to trade at N1.38 per share.

In the week, a total of 43 equities depreciated in price, lower than 55 equities in the previous week and on top of the chart was Japaul, which lost 11.11 per cent to settle at 24 kobo per unit.

Honeywell Flour Mill depreciated by 10.83 per cent to close at N1.07 per share, Custodian Investment fell by 10.00 per cent to N5.85 per unit, Champion Breweries declined by 9.43 per cent to sell at N96 kobo per share, while Trans-Nationwide Express decreased by 9.38 per cent to 87 kobo per unit.

According to data from the Nigerian Stock Exchange (NSE), during the week, a total of 91 equities remained unchanged, higher than 85 equities recorded in the previous week.

Business Post reports that the All-Share Index (ASI) and market capitalisation appreciated by 2.19 per cent to close the week at 34,885.51 points and N18.228 trillion respectively.

Similarly, all other indices finished higher with the exception of NSE CG, NSE banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE MERI Growth and NSE consumer goods which depreciated by 0.05 per cent, 1.31 per cent, 1.53 per cent, 0.38 per cent, 0.44 per cent and 0.5 per cent while the NSE ASeM index closed flat.

On the activity chart, 1.8 billion shares worth N25.8 billion were in 31,665 deals last week in contrast to the 11.4 billion stocks worth N35.9 billion transacted in 39,265 deals a week earlier.

The financial services sector led the activity chart with 1.3 billion shares valued at N14.7 billion traded in 18,392 deals, contributing 70.15 per cent and 57.04 per cent to the total equity turnover volume and value respectively.

The conglomerates followed with 217.2 million shares worth N231.8 million in 1,226deals, while the third place was the consumer goods industry, with a turnover of 113.8 million shares worth N2.6 billion in 4,568 deals.

Trading Zenith Bank, Transcorp and Access Bank accounted for 649.5 million shares worth N8.1 billion in 6,395 deals, contributing 35.76 per cent and 31.42 per cent to the total equity turnover volume and value respectively.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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