Nigerian stocks hit 15-year high on suspension of CBN governor

NASCON appreciated by 10 per cent to close at N17.05. Access Holdings enlarged by 10 per cent to end trade at N14.30. GTCO rose to N30.80, notching up 10 per cent in the process. Lasaco went up by 10 per cent to N1.98. Zenith Bank completed the top 5, climbing by 10 per cent to N30.80.John Holt led the losers, declining by 10 per cent to close at N1.26. Ellah Lakes shed 10 per cent to end trade at N3.60. The Initiates fell to N0.47, losing 9.62 per cent. Caverton slid to N1.24, recording a 4.

UBA was the most active stock, with 214.9 million shares worth N2.3 billion traded in 608 deals. GTCO’s shares of 208.1 million units, priced at N6.2 billion, exchanged hands in 613 transactions. Zenith Bank had 85.7 million shares valued at N309.2 million, traded in 743 deals. Japaul traded 72.6 million shares, estimated at N37.4 million in 216 transactions. Access Holdings traded 72.1 million shares valued at N1 billion in 658 deals.

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Nigerian Stock Market Rises To 15-Year High After Central Bank Governor, Emefiele’s Suspension | Sahara ReportersThe Nigerian Stock Market on Tuesday reportedly leaped to 15-year high as it rose to its highest level since July 2008. This is coming on the first day of trading after the suspension of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, by President Bola Tinubu. A report by Bloomberg stated that investors are betting on a currency devaluation and this has sent the main index of the Nigerian Exchange to above 57,437 points, which is in contrast with a flat performance for MSCI’s main emerging equity benchmark.
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