The Nigerian stock market recorded its
biggest rise in a day on Wednesday as investors
scrambled to buy stocks following the declaration
of Gen. Muhammadu Buhari of the All
Progressive Congress as the winner of the
presidential election, Thisday reports.
At the close of trading, the market capitalisation
of the listed equities surged by N904bn or 8.4
per cent from N10.717tn on Tuesday to
N11.621tn, with the Nigerian Stock Exchange All-
Share Index also rising by 8.4 per cent or 2
635.32 basis points to close at 34 380.14 basis
points.
Also read: NSE market indices record further
depreciation
It was the biggest gain recorded by any
Exchange all over the world so far this year, the
closest being a five per cent gain by Chinese
stocks earlier in the year.
According to market operators and experts, the
peaceful conduct of the presidential election and,
particularly, the acceptance of the result by
Jonathan, which has set the stage for a peaceful
transition, are responsible for the record
performance of the stock market as it has greatly
boosted investor confidence.
Wednesday’s gains were spread across all the
sectors with all of the five NSE sectoral indices
surging as well.
Read more at Thisday

http://m.news24.com/nigeria/National/News/Buharis-victory-Stock-market-gets-a-boost-20150402

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