Nigeria: Stock Market Rides On Elections Success, Gains N178 Billion

Lagos — The peaceful election over the weekend reflected on
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 election.
Also, the Nigerian Stock Exchange All Share Index appreciated by
527.88 basis points represented 1.73 per cent to close at
31,090.81basis points, compared with the 1.63 per cent
appreciation recorded previous Friday.
However, market turnover closes negative as volume declined by
58.75 per cent against 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 top market value list.
The NSE Banking Index records 2.76 per cent gain to emerge the
most supportive sectoral index among others while the NSE Oil
& Gas Index emerged as worst hit to close with 0.24 per cent.
Market breadth closed positive 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 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 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 loss 5.00 per cent to close at N37.27 kobo
per share, Pharma Deko Plc with 4.91 per cent loss to close at
N2.13 kobo per share and May & Baker Plc with 4.40 per cent
loss to close at N1.52 kobo per share.