Business
Nigerian Equity Market Gains 0.57% Despite Election Uncertainty
Stockbrokers at the floor of the Nigerian Stock Market
The Nigerian equity market on Monday defy the tensed atmosphere in the aftermath of last Saturday’s presidential election as it gained 0.57 per cent.
All sectors recorded positive performance with consumer goods and insurance sectors leading the pack. Market breadth closed positive, recording 25 gainers and 8 losers.
The All Share Index (ASI) gained 184.60 absolute points, representing an increase of 0.57%, to close at 32,700.12 points.
Similarly, Market Capitalization grew by N68.84 billion representing an increase of 0.57%, to close at N12.19 trillion.
DANGFLOUR emerged the top gainer while UNIONDAC emerged as the top loser.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; DANGFLOUR (+9.95%), WEMABANK (+8.33%), FCMB (+4.95%), NB (+4.00%), UCAP (+3.35%), DANGSUGAR (+3.33%), UBA (+2.50%), TRANSCORP (+2.07%), OANDO (+1.54%), ZENITHBANK (+0.97%), and DANGCEM (+0.05%).