Home Business Nigerian equity market defies election uncertainties, continues upturn

Nigerian equity market defies election uncertainties, continues upturn

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Stockbrokers during a trading session at the NSE
Stockbrokers during a trading session at the NSE

By FELIX OLOYEDE

The Nigerian equity market on Friday continued its rally, appreciating 0.81 per cent, despite election uncertainties, driven majorly by gains recorded in the oil and gas sector.

The All Share Index (ASI) was up 261.51 absolute points, increasing 0.81 per cent to close at 32,715.20 points, Market Capitalization added N97.52 billion, rising 0.81 per cent to close at N12.20 trillion.

Royal Exchange and Presco gained 10 per cent to emerge the best-performing stocks among 33 gainers, while MRS led the 22 losers chart, shedding -9.94 per cent.

Diamond Bank was the most active stock in terms of volume, with 141 million of its shares valued at N339 million traded in 113 deals.

On the other hand, GTBank emerged the most active stock in terms of value, having 39.48 million of its shares worth N1.5 billion exchanged by investors.