Nigerian Equities Market Rebounds after Presidential Election - THISDAYLIVE

WhatsApp Goddy Egene with agency reports Nigeria’s stocks and bonds rose yesterday as investors increased demand for securities following the conclusion of the presidential election,

has learnt. Investigation revealed that the Nigerian stock market, which depreciated 0.61 per cent last week, opened this week with a gain of 0.57 per cent yesterday. Specifically, the Nigerian Stock Exchange All-Share Index rose to 32,700.12, from 32,515.52, while market capitalisation added N68 billion to close at N12.194 trillion, from N12.125 trillion recorded last Friday. The market had gained 6.6 per cent before the postponement of the presidential election from February 16.

also gathered that there was also a rise in bond prices which was more pronounced in longer-dated, local currency bonds such as the 2028 bond. Yields on the 10-year paper fell to 14.5 per cent yesterday from a previous close of 14.68 per cent. “Barring any negative surprises at the polls, we anticipate a positive start to this week’s trading as investors price in improved certainty upon conclusion of the general elections,” analysts at Vetiva Capital, told Reuters.

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