• Monday, December 11, 2023
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BusinessDay

Investors see Emefiele’s suspension in positive light as stocks gain N1.2trn

Equities market opens week on negative note

Stocks of Nigeria’s listed equities garnered N1.22trillion on Tuesday June 13, the first trading day after the suspension of Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

Emefiele was suspended last Friday sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

On the first trading day after his suspension, stock investors viewed the development in a positive light, raising bets across banking and other value counters on the Nigerian Bourse.

As a result, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased by 3.99percent on Tuesday from preceding day’s 55,930.97 points and N30.455 trillion respectively to 58,163.59 points and N31.670 trillion.

The market’s positive return year-to-date (YtD) increased to +13.49 percent.

In 10,369 deals, investors exchanged 1,186,493,589 shares valued at N19.225billion. Stocks like UBA, GTCO, Zenith Bank, Japaul Gold and Access Corporation were actively traded.