Lagos — With the general elections over, producing an eventual winner in General Muhammadu Buhari as President-elect, set to replace incumbent Dr. Goodluck Jonathan, confidence may have gradually started returning to the nation’s capital market, judging by data from the Nigerian Stock Exchange (NSE), as seen in the robust recovery in its basic indicators for the month of April, which ended last Thursday.
Market capitalisation, which measured the worth of investors on the bourse, jumped by N1.069 trillion from N10.717 trillion at the end of March, to close April at N11.786 trillion, while the All Share index climbed 2,963.29 basis points or 9.33 per cent at 34,708.11.
In March, capitalisation improved by N672.978 billion or 6.69 per cent, just as the benchmark index rose by 1,641.01 points or 5.45 per cent.
According to the NSE, Nestle Foods Nigeria emerged biggest gainer in April recovering N105, closing at N950 per share; Guinness followed from afar with N37.81; Dangote Cement (the biggest company on the exchange by capitalisation) chalked N24.50; ahead of Nigerian Brewery (the bourse’s second most capitalised), which gained N13.31. Healthcare and pharmaceutical giant- Glaxo Smithkline Consumer closed the month N10.90 better; Lafarge Africa, N10.00; UACN, 960 kobo; Julius Berger, 795 kobo; […]