NGX: Shareholders raise investments by N206.57bn amid political tension

Investors retained their confidence in the Nigerian capital market with demands for equity stocks raising the market capitalization by 0.69 percent at the close of trading on Monday.

The value of investments in the capital market rose by N206.57 billion from N29.93 trillion to N30.14 trillion on Monday despite the political tension in the country.

Nigerians are eagerly awaiting the outcome of last weekend’s presidential election in the country with the Independent National Electoral Commission (INEC) expected to announce the winner of the exercise in the coming days.

The quintet of the All Progressives Congress (APC) presidential candidate, Asiwaju Bola Ahmed Tinubu, the Peoples Democratic Party (PDP) flag bearer, Atiku Abubakar, Labour Party’s Peter Obi and Rabiu Kwankwaso of the New Nigeria Peoples Party (NNPP) are bidding to succeed President Muhammadu Buhari as Nigeria’s leader on May 29.

Similarly, the All-Share Index rose by 234.34 basis points to close at 54,949.21, up from 55,328.42 achieved by the bourse last Friday.

Investors traded 149.78 million shares worth N1.54 billion in 3,186 deals on Monday.

However, this fell short of the 302.83 million shares valued at N2.20 billion traded by shareholders in 2,820 deals on Friday.

Stanbic IBTC led the gainers’ list with a N3.45kobo rise in share price moving from N34.50kobo to N37.95kobo per share.

Oando gained N0.40kobo to move from N4 to N4.40kobo per share.

C&I Leasing’s share value was up by N0.33kobo to end trading at N3.63kobo from N3.30kobo per share.

Conoil gained N4.25kobo to close at N46.85kobo, above its opening price of N42.60kobo per share.

MRS shares traded upward by N2.95kobo to rise from N30.55kobo to N33.50kobo per share.

READ ALSO: High demand for stocks propels Nigeria’s capital market to N164.9bn gain

FTN Cocoa topped the losers’ table after shedding 6.90 percent to drop from N0.29kobo to N0.27kobo per share.

UPDC’s share price dropped by 4 percent to end trading at 0.28kobo from N0.29kobo per share.

Japaul Gold lost 3.45 percent to end trading with N0.28kobo from N0.29kobo per share.

Transcorp’s share dropped from N1.30kobo to N1.26kobo per share after losing 3.08 percent during trading.

Mutual Benefit lost 3.03 percent to drop from N0.33kobo to N0.32kobo per share.

Oando led the day’s trading with 14.28 million shares valued at N62.64 million.

Transcorp traded 11.71 million shares worth N14.73 million.

Fidelity Bank sold 10.73 million shares worth N53.74 million.

Chams followed with 10.29 million shares valued at N2.85 million, while UBA traded 9.10 million shares valued at N77.14 million.

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