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2019 Elections: Banking Stocks Record Biggest Fall Since 2016 - Investment - Nairaland

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2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by References: 7:25pm On Mar 01, 2019
In a continuing negative reaction to President Muhammadu Buhari’s re-election, banking stocks recorded its biggest fall since 2016.

Since Wednesday when the Independent National Electoral Commission (INEC) announced the results of the presidential election, the Nigerian Stock Exchange has lost N281 billion.

Amidst this loss, the 10 largest banking stocks dropped by 4.6% at the close of trading on Thursday.

According to data monitored by Bloomberg, the market’s biggest laggers by index points were Guaranty Trust Bank Plc, which dropped 6.9%, Zenith Bank Plc, which fell 4% and Nigerian Breweries Plc, down 4.5%.

“We are seeing investors react negatively in the short term” to the election results, Olabisi Ayodeji, an analyst at Exotix Capital, said.

Ambrose Omordion, another market analyst, attributed the development to investors disappointment over the outcome of the elections.

Omordion said smart investors that took a position earlier in the market ahead of the presidential election and earnings seasons were disappointed.

He said that apart from the outcome of the elections, everything was against the stock market ranging from delayed budget, expiration of the tenure of Central Bank of Nigeria (CBN) governor by June.

“The only factor for the stock market now is this earnings season, because nothing will happen between now and May 29,” Omordion said.

Omordion said that the trend might likely continue unless there was a change in economic policies and reforms by the president.

Speaking at a press conference on Thursday, Adams Oshiomole, chairman of the All Progressives Congress (APC), said investors who did not believe in the Nigerian dream are free to leave.

Oshiomole, who is a former governor of Edo state, said the country did not need investors who invested for selfish reasons.


https://www.thecable.ng/banking-stocks-record-biggest-fall-since-2016

1 Like

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Taguchi: 7:32pm On Mar 01, 2019
we gon be alright Las Las
dis next level go remould som pipu destinies like

49 Likes 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Uglymind: 9:39pm On Mar 01, 2019
God has a reason for everything not Buhari angry

1 Like

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Oyetboy(m): 9:39pm On Mar 01, 2019
Next level things,..... Sai Buhari! grin

33 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by TIGRITIS: 9:40pm On Mar 01, 2019
Good time to invest.

Waiting for further drop. cool

5 Likes 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by AngelicBeing: 9:40pm On Mar 01, 2019
sad
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Miracle4Sure: 9:40pm On Mar 01, 2019
angry grin
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Hezzyluv: 9:40pm On Mar 01, 2019
Next level tinz.

Keep fighting corruption n blaming PDP

54 Likes 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by GBOKASINCHA(m): 9:40pm On Mar 01, 2019
Sai baba cheesy

4 Likes

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by akinwun(m): 9:40pm On Mar 01, 2019
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Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by mightyhazel: 9:41pm On Mar 01, 2019
shey una wan level nigeria and nigerians finish with this next level(ling)

19 Likes

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Galaxyowerri(m): 9:41pm On Mar 01, 2019
Next level men grin

11 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Greyworld: 9:41pm On Mar 01, 2019
The future is here.
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Hezzyluv: 9:41pm On Mar 01, 2019
jh
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by StArusi: 9:41pm On Mar 01, 2019
Thought they will still rig d banking stocks.

34 Likes

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by princeade86(m): 9:41pm On Mar 01, 2019
effect of............

2 Likes

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by BESTEAGLE: 9:41pm On Mar 01, 2019
make person no contact this hardship Buhari is sharing. I pray in Jesus Name

31 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Nobody: 9:42pm On Mar 01, 2019
Lok
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Bossontop(m): 9:42pm On Mar 01, 2019
undecided
Me ryt now looking at zombies like...."i nor teh una??"

57 Likes 3 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by baike: 9:42pm On Mar 01, 2019
money is no more leaking for big thief's grin

1 Like 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by NwaOhafia: 9:42pm On Mar 01, 2019
Some people don't know what and where this politicians go to before the come out with a theme... Next level Baba na

5 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by sunnysunny69(m): 9:43pm On Mar 01, 2019
It's all propaganda.

1 Like

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by introvertme: 9:43pm On Mar 01, 2019
“We are seeing investors react negatively in the short term” to the election results, Olabisi Ayodeji, an analyst at Exotix Capital, said.


Investors were Atiku supporters grin

his plan to sell nnpc to his friends (investors that are now taking a shit in the economy) failed cry

2 Likes

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Nobody: 9:44pm On Mar 01, 2019
sunnysunny69:
It's all propaganda.
Your EYE go clear soon

21 Likes 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by iamphilips(m): 9:44pm On Mar 01, 2019
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Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by prigoz(m): 9:45pm On Mar 01, 2019
This is just the beginning. We shall feel the next level harsh economic, hunger , unemployment. I pity the youth when your grandfather is doing what you suppose to do now, when will it you father's turn before you.

3 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by saraki2019(m): 9:45pm On Mar 01, 2019
All national assets buyers should return their money to closet, your Atiku has failed.
Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Daniel058(m): 9:46pm On Mar 01, 2019
Some people VE already started reaping from the fruit they sew..

Next level! $1 ==#1000



Forex traders will be enjoying it..

5 Likes 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by oldman112(m): 9:46pm On Mar 01, 2019
Is still Politics, PDP will make things uncomfortable for them, the APC members are mainly politicians while PDP members are investors with a little sense of politics(not all) so once this investors pulls out there money it hits the stock market, expect more to come but last last we will be fine.

1 Like 1 Share

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by gurunlocker: 9:46pm On Mar 01, 2019
That's what happens when some almajiris up North in few states decide who becomes the president because of their population.

19 Likes 2 Shares

Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by oldman112(m): 9:47pm On Mar 01, 2019
iamphilips:
MINT CANON D1300 and 18-55mm lens
8gb SD CARD
COMES WITH CHARGER
Used only about 5 times

LOCATION: LAGOS
WAYBILL AVALIABLE NATIONWIDE

PRICE #100,000
Is it car grin

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Re: 2019 Elections: Banking Stocks Record Biggest Fall Since 2016 by Alonge25: 9:47pm On Mar 01, 2019
The politicians should be careful of what they say. They should not play politics with our economy. Oshiomole should be cautioned about what he says concerning investors.

9 Likes 1 Share

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