Emefiele was suspended last Friday sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
Precisely, the All Share Index gained by 2,232.58 points, representing a growth of 3.99 per cent to close at 58,163.55 points. Also, market capitalisation gained N1.215 trillion to close at N31.670 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications , BUA Foods, Dangote Cement, MRS Oil Nigeria and Nigerian Breweries.
Analysts at Cordros Securities Limited said, “the market performance was impressive as investors reacted positively to the policy signals and planned financial sector reforms from the new administration.” As measured by market breadth, market sentiment was positive, as 61 stocks gained relative to 13 losers. Access Holdings, Guaranty Trust Holding Company , Lasaco Assurance, NASCON Allied Industries and Zenith Bank recorded the highest price gain of 10 per cent each to close at N14.30, N30.80, N1.98, N17.05 and N30.80 respectively, per share.
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Emefiele’s suspension: Stock market capitalisation rises by N1.2tnThe most widely read newspaper in Nigeria
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