Investors Gained N59 Billion on Thursday as Buhari Goes After Protesters

Investors at the Nigerian Stock Exchange (NSE) gained N59 billion on Thursday as the market appreciated to N14.929 trillion.

The market capitalisation of listed equities rose by N59 billion from N14.870 trillion it closed on Wednesday to N14.929 trillion on Thursday.

While the NSE All-Share Index gained 114.38 basis points or 0.40 percent from 28,449.49 bps on Wednesday to 28,563.87 bps on Thursday.

Investors traded 311.333 million shares valued at N4.691 million in 3,375 deals during the trading hours of Thursday.

Banking stocks led the most traded stocks with GTBank recording the most traded in terms of volume with 77.842 million shares valued at N2.336 billion. This was followed by Access Bank’s 57.659 shares traded in N442.777 million. See the details below.

The market rebounded following a government clampdown on protesters demanding an end to the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) among others.

According to analysts at InvestData Limited, the volatility will continue even with the high dividend expected to attract capital into equity assets.

The experts said, “We expect this volatility to continue, even as high Dividend Yields attract inflow to equity assets, ahead of the peak period of the Q3 earnings reporting season and momentum associated with earnings season in the midst of crude oil price oscillation.”