Investors Ignore Election Tension, Trade N2.50 billion Stocks

Nigerian stock market closed with N164.96 billion gain on Friday, 24 February 2023, indicating high confidence in the bourse despite the presidential election tensions in the country.

The gain translates to a 0.55 per cent increase in the equity market capitalisation, having closed with N29.93 trillion, against Thursday’s N29.76 trillion. 

It reflects investors have high confidence in the future growth of the Nigerian bourse after the election holding on Saturday, 25 February 2023. 

The All-Share Index followed the same path, rising to 54,949.21 ASI, after appreciating by 234.34 basis points from 54,646.38 ASI.

Investors exchanged N2.50 billion for 302.83 million shares on Friday, in 2,820 deals. It contrasted with Thursday’s N1.84 billion exchanged in 2,651 deals for 142.03 million shares. 

Top five gainers

• TIP share appreciated by 10 per cent to rise from N0.40kobo to N0.44kobo per share     
• John Holt grew by N0.16kobo, up from N1.60kobo to N1.76kobo per share     
• McNichols ended trading with N0.66kobo from N0.60kobo per share, rising by N6.60kobo.     
• Conoil gained N3.85kobo to end trading at N42.60kobo, having opened with N38.75kobo per share. 
• MRS stock was up by N2.75kobo, closing with N30.55kobo from N27.80kobo per share  

Top five losers

• LivingTrust depreciated by N0.30kobo, dwindling from N3 to N2.70kobo per share.     
• Cornerstone also fell by 7.69 per cent to end trading at N0.60kobo, after opening with N0.65kobo per share.   
• Courtville followed the same path, losing 4.17 per cent after trading hours, to sell at N0.46kobo from N0.48kobo per share.     
• Regal Insurance reported a decline of 3.45 per cent from the previous day’s share price of N0.29kobo to end trading at N0.28kobo per share.     
• Japaul Gold’s share depreciated to N0.29kobo from N0.30kobo, after losing 3.33 per cent during trading hours.      

Top five trading equities in the stock exchange 

• GTCO reported 14.14 million shares valued at N358.24 million were traded on its floor       
• Transcorp recorded 11.01 million shares valued at N14.05 million     
• Access Corp saw investors trade 10.92 million of its shares valued at N100.11 million     
• Fidelity Bank recorded 9.43 million shares exchanged on its floor, worth N47.58 million     
• Zenith Bank reported 8.12 million shares, valued at N206.65 million, exchanged investors’ hands

Fakoyejo Olalekan

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