Nigerian equity market extends loss as Buhari wins presidential election

Stockbrokers at the floor of the Nigerian Stock Market

The Nigerian equity market on Wednesday extended the previous day’s negative sentiment to record 0.71% loss after the election result declaration. The decline was impacted by losses in the oil/gas and banking sectors. Market breadth closed negative, recording 10 gainers and 30 losers.

The All Share Index (ASI) declined 229.58 absolute points, representing a dip of 0.71%, to close at 32,244.24 points. Similarly, Market Capitalization decreased by N85.61 billion representing a decline of 0.71%, to close at N12.02 trillion.

NEIMETH emerged the top gainer while UNIONDAC emerged as the top loser.

The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; OANDO (-9.66%), WEMABANK (-8.24%), ETERNA (-7.37%), TRANSCORP (-6.29%), UNILEVER (-4.65%), ACCESS (-4.00%), ZENITHBANK (-3.49%), DANGSUGAR (-2.60%), UBA (-2.50%), FBNH (-2.50%), DIAMONDBANK (-2.00%), UACN (-1.14%), DANGFLOUR (-0.83%), HONYFLOUR (-0.72%), NESTLE (-0.66%)and GUARANTY (-0.52%). (GTI Securities)