Stock market gains N1.418trn in 2 days

rescuedby Kayode Ogunwale, April 3

[b]Nigerian stock market maintained its buoyant status in its equity segment yesterday with a gain of N514billion, hitting N1.418 trillion profits in just two days.

Analysts believe that the unexpected surge witnessing in the market is a sign of confidence in president elect, Gen. Muhammadu Buhari by investors.

Equities value which appreciated by N904 billion on Wednesday when Gen. Buhari emerged as winner of the last weekend’s election added another N514 billion yesterday.

The local bourse continued to record strong bullish trading on the back of a smooth presidential election as buying momentum heightened in the market.

The market recorded further gains as the All Share Index gained 3.92 per cent to close at 35,728.12 points, which pegged the year to date return at 3.1 per cent.

Gains in the market cut across all sectors as Oil and Gas sector posted 5.9 per cent daily return. The Financial Services sector was also supported by gains in the highly capitalised banking stocks such as Guaranty Trust Bank Plc, UBA Plc and Zenith Bank Plc as it returned 5.2 per cent. The Consumer Goods and Industrial Goods sectors posted 3.6 per cent and 2.9 per cent daily returns respectively. Read full on DailyTrust

Nigerian Stocks Gain Most in World as Buhari Win Triggers Rally
BLOOMBERG; April 1: Nigerian stocks surged the most since March 2010, leading gains among world equity markets, after former military ruler Muhammadu Buhari won a vote marking the first peaceful shift in power since the end of colonial rule in 1960.[/b]

Rawani:
The markets are always significantly impacted by news and events. I see a great future for Nigeria, I call on all Nigerians to join hands regardless of party affiliation and move this nation together.

Bayswater:
Need I remind you GEJ is still president till May 29? We shall see how far and where the confidence will take us?

They major occurence that prompted a surge in the market came from GEJ.

If you want to give that to Buhari, you might as well attribute Boko haram attacks/bomb blasts to him. Yeye dey smell

PointB:
Technically, GEJ is still the President, and the credit goes to him for successfully conducting the election

For the avoidance of doubt, the semi-illiterate will resume office by May 29 2015!

nduchucks:


the President did not conduct any election, Jega did that. The contribution of the President's men was to rig.

PointB:


JEGA is an appointee of the President so what's your point!

And if there was rigging, I expect Jega to say so; not from unknown keyboard rumour mongers!