Nigerian Stocks goes bullish, post 5.2% gain after inauguration speech

Nigerian Equities rallied to a 5.2% gain on Tuesday as investors reacted positively to the inauguration speech of President Bola Ahmed Tinubu.

In what Nairametrics analysts termed a “TinuBULL”, stocks rallied from the opening sessions, posting one of the best one day returns ever.

All the indices posted positive gains with NGX30, NGX Banking, and NGX Industrial all posting 5.58%, 8.2% and 6%, respectively.

That total number of deals recorded was 9,916,up 56.38%, suggesting that investors were in a bullish mode. Total volumes traded was also up 133.5%, even as market turnover rose up 10%.

The market capitalization of the All Share Index also crossed the N30 trillion mark to N30.35 trillion.

The All Share Index is now up 8.77% year to date. Out of the top 10 gainers, 8 of the stock gained 10% with Zenith Bank, FCMB, Transcorp Hotel, NB among stocks that gained 10%.

The FUGAX were also among the top traded stocks by Value with Access Bank leading with N2.4 billion in trade.




FI