The tension has been doused! The Nigerian elections have
come and gone! And now Nigeria’s economic managers are counting the
gains of peaceful elections.
According to the Daily Trust, the peaceful election over the weekend reflected on the stock market yesterday when it recorded N178billion after going down on Friday.
The equities market closed yesterday on a positive note, as market capitalization appreciated by N178bn from N10.319 trillion it opened, to close at N10.497 trillion during the first trading day after the elections.
Also noteworthy is the Nigerian Stock Exchange (NSE), whose All Share Index appreciated by 527.88 basis points representing 1.73 per cent to close at 31,090.81 basis points, compared with the 1.63 per cent appreciation recorded the previous Friday.
However, market turnover closed negatively, as the volume declined by 58.75 per cent against a 26.94 per cent decline recorded in the previous session. UBA Plc, FBN Holding Plc and Diamond Bank Plc were the most active to boost market turnover. FBN Holdings Plc and Guaranty Trust Bank Plc topped the market value list.
The NSE Banking Index recorded a 2.76 per cent gain to emerge as the most supported sectoral index, while the NSE Oil & Gas Index emerged as the worst hit to close with 0.24 per cent.
Market breadth closed positively as Fidson Healthcare Plc led 40
gainers against 13 losers topped by Vono Product Plc at the end of the
day trading which was an improved performance when compared with the
previous outlook.
Fidson Healthcare Plc appreciated by 9.12 per cent to close at N3.59 kobo per share, followed by Nigerian Aviation Handling Company Plc with a 7.94 per cent gain to close at N5.44 kobo, while Eternal Plc grew by 7.75 per cent to close at N3.06 kobo per share. Also, Unilever Nigeria Plc rose by 7.24 per cent to close at N42.20 kobo per share and Trans Express Plc gained 6.31 per cent per share to close at N1.18 kobo.
On the other hand, Vono Product Plc depreciated by 48.60 per cent to close at N0.85 kobo per share. Forte Oil Plc followed with 5.01 per cent to close at N213.62 kobo per share while Cadbury Nigeria Plc lost 5.00 per cent to close at N37.27 kobo per share, Pharma Deko Plc lost 4.91 per cent to close at N2.13 kobo per share and May & Baker Plc recorded a 4.40 per cent loss to close at N1.52 kobo per share.
These new statistics are healthy for the Nigerian business community. Latest estimates yesterday projected that domestic investments in NSE recorded a substantial decline due to fears and uncertainties regarding the 2015 general elections, as well as concerns about insecurity.
According to the Daily Trust, the peaceful election over the weekend reflected on the stock market yesterday when it recorded N178billion after going down on Friday.
The equities market closed yesterday on a positive note, as market capitalization appreciated by N178bn from N10.319 trillion it opened, to close at N10.497 trillion during the first trading day after the elections.
Also noteworthy is the Nigerian Stock Exchange (NSE), whose All Share Index appreciated by 527.88 basis points representing 1.73 per cent to close at 31,090.81 basis points, compared with the 1.63 per cent appreciation recorded the previous Friday.
However, market turnover closed negatively, as the volume declined by 58.75 per cent against a 26.94 per cent decline recorded in the previous session. UBA Plc, FBN Holding Plc and Diamond Bank Plc were the most active to boost market turnover. FBN Holdings Plc and Guaranty Trust Bank Plc topped the market value list.
The NSE Banking Index recorded a 2.76 per cent gain to emerge as the most supported sectoral index, while the NSE Oil & Gas Index emerged as the worst hit to close with 0.24 per cent.
Fidson Healthcare Plc appreciated by 9.12 per cent to close at N3.59 kobo per share, followed by Nigerian Aviation Handling Company Plc with a 7.94 per cent gain to close at N5.44 kobo, while Eternal Plc grew by 7.75 per cent to close at N3.06 kobo per share. Also, Unilever Nigeria Plc rose by 7.24 per cent to close at N42.20 kobo per share and Trans Express Plc gained 6.31 per cent per share to close at N1.18 kobo.
On the other hand, Vono Product Plc depreciated by 48.60 per cent to close at N0.85 kobo per share. Forte Oil Plc followed with 5.01 per cent to close at N213.62 kobo per share while Cadbury Nigeria Plc lost 5.00 per cent to close at N37.27 kobo per share, Pharma Deko Plc lost 4.91 per cent to close at N2.13 kobo per share and May & Baker Plc recorded a 4.40 per cent loss to close at N1.52 kobo per share.
These new statistics are healthy for the Nigerian business community. Latest estimates yesterday projected that domestic investments in NSE recorded a substantial decline due to fears and uncertainties regarding the 2015 general elections, as well as concerns about insecurity.
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