Nigeria stock investors make N1.4trn in February

Nigeria’s stock investors in February saw the value of their investment increase by N1.403 trillion despite the concerns around the elections.

Data obtained from the Nigerian exchange showed that the equities market had opened February this year with its key indicators – the All-Share Index (ASI) and equities capitalization at 53,238.67 points and N28.997trillion.

At the close of trading session on Tuesday February 28, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased to 55,806.26 points and N30.400trillion.

In the just-ended month of February, the market defied analysts’ expectations, rising by 4.82 percent in the election month.

The market strengthened its gains on Tuesday by 0.86 percent or N260 billion as investors continued to position themselves for dividend income amid full-year 2022 results released by companies on the Nigerian Exchange Limited (NGX).

READ ALSO:Stock market cap down by N36.57bn, as Fidelity Bank, others record losses

Year-to-date (YtD), the market has increased by 8.89percent. The market has progressed remarkably despite a caution sessions due to uncertainties around Nigeria’s general election.

During the month, Fidelity Bank, Zenith Bank, Oando, Transcorp, and GTCO were top-5 traded stocks.

In 4,435 deals, investors exchanged 237,174,411 shares valued at N4.392 billion.

Also, stocks like like MRS, Stanbic IBTC, Oando and C&I Leasing helped push the market further high. MRS increased from N33.50 to N36.85, adding N3.35 or 10percent.

Some of the biggest gainers are Stanbic IBTCwhich rose from N37.95 to N41.70, up by N3.75 or 9.88 percent. C& I Leasing went up from N3.63 to N3.98, adding 35kobo or 9.64 percent, while Oando rose from N4.40 to N4.80, up 40kobo or 9.09percent.

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