Equities rise despite election fever

31 March 2015, Lagos – Equities listed on the Nigerian Stock Exchange recorded significant gains on Monday amid anxiety over the outcome of the presidential and National Assembly elections.

Nigerian Stock Exchange

Nigerian Stock Exchange

At the close of trading, the market capitalisation of the listed equities rose by 1.73 per cent or N178bn from N10.318tn to N10.496tn.

In the same vein, the NSE All Share Index rose by 527.88 basis points to 31,090.81 basis points from 30,562.93 basis points.

According to analysts, the mostly peaceful conduct of the elections around which there had been much uncertainty will send positive signals and encourage more stability and gains in the market.

It was a broadly positive day on the Exchange as all market indicators rose with the exception of the NSE Oil and Gas Index, which declined marginally and the NSE Alternative Securities Market Index, which closed flat at 1,212.94 basis points.

Investors exchanged 196.257 million shares valued at N1.837 in 3,638 deals on Monday with 41 stocks recording price appreciation, while 11 others suffered price depreciation.

Fidson Healthcare Plc was the day’s top gainer, rising by 9.12 per cent or 30 kobo to close at N3.59 per share.

The Nigerian Aviation Handling Company Plc, which had just declared a dividend and bonus for the 2014 financial year, followed with a 7.93 per cent or 40 kobo share price appreciation to close at N5.44 per share.

Eterna Plc and Unilever Nigeria Plc were up by 7.75 per cent and 7.24 per cent to close at N3.06 and N42.20 per share, respectively.

Also among the gainers was Mobil Nigeria Plc, which gained 6.08 per cent or N9 to close at N156.95 per share, while Dangote Cement Plc recorded a N6 price appreciation to close at N159 per share.

Vono Products Plc topped the losers, declining by 8.60 per cent or eight kobo to close at 85 kobo per share.

It was followed by Forte Oil Plc and Cadbury Nigeria Plc, which shed 5.01 per cent and five per cent to close at N213.62 and N37.27 per


– Punch

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