FEB 25, 2019: NIGERIA: POST ELECTION optimisms

The  Nigerian Stock Exchange closed on a rather optimistic note on Monday February 25 after the presidential elections were held on Saturday February 23.

Results were still trickling in by Monday night but at the market, 25 price gains and only 8 drops were recorded although the resultant growth in the All share Index came to 0.57% to 32,700.

Nigerian Breweries paced the gainers in style  as it found and closed at N83.2 per share, up N3.2 or 4% on the  N80 recorded previously.

The style came from leading trade for the day as well with 78 deals for day high 42.710m shares valued at equally pace setting N3.552bn.

It was followed by 11 PLC up N2 or 1.12% per share in 15 deals for 0.172m shares worth N31.093m.

On the other hand, Total Nigeria recorded a solo above  N1 per share drop by closing down N5 or 2.56% per share while posting 29 deals involving 0.161m shares worth N30.926m.

In all, there were 2999 deals for 219.808m shares valued at N5.549bn  compared to Friday's 2659 deals involving 221.466m shares worth N2.240bn on Friday.

The one indicator which Nigerian Breweries did not pace was number of deals. Zenith Bank led the pack here with 288 deals for 12.952m shares worth  N337.036m while closing up  N0.25 per share.

Close to it was Guaranty Trust Bank in which 19.202m shares were exchanged in 221 deals worth N733.882m.

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