How Nigerian stock market performed following GEJ’s visit today (12/3/2015)

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The Nigerian stock market welcomed President Goodluck Jonathan on Thursday following the trend set by General Ibrahim Babangida, President Yaradua. This makes it the third time ever a Nigerian President will be visiting the Nigerian stock exchange. The visit amongst others was an opportunity for the capital market operators to hear directly from the President following the near volatility and sell offs that have engulfed the stock market since last year. Stocks in general have been battered since October last year due to the fall in crude oil prices and the impending elections.

So how did stock perform today following the President’s visit;

• The Nigerian All Share Index gained 0.34% to close at 30,973.8.
• A total of 13 stocks gained whilst about 28 stocks lost
• The highest percentage gain was Cutix with 8.5%
• The highest percentage loss was Dangote Sugar with 5%
• Highest percentage gain in absolute numbers was GTB with 77kobo
• Highest percentage loss in absolute numbers was Guinness with N1.97
• Number of deals was 4,252.2 and volume was 333,437,069.00
• Oando had the highest volume of trade with 86,922,386
• Based on the above, trading activities were generally sub par.
• I guess stockbrokers were basking in the excitement to bother filling in trades (who won’t be?)