Elections ‘Fever’ Sustains Hold On Equities Market, Indices Fall Further

Uncertainties surrounding the 2019 polls have continued to trigger sell-off pressure on the equities sector of the Nigeria Stock Exchange (NSE). With the All-Share Index posting a loss of 2.64% week-on-week, analysts have argued that investor confidence is currently overshadowed by increased political threat, coupled with the underperformance of the economy that has created disappointments across the country. 

According to them, equity market’s recovery will gain momentum after the general elections, irrespective of who emerges winner of next month’s presidential election, as long as there is no post-election crisis. Last week, a total turnover of 1.265 billion shares worth N14.074 billion was recorded in 19,278 deals, on the floor of NSE in contrast to a total of 1.647 billion shares valued at N8.413 billion that changed hands in 14,773 deals during the preceding week.

(Guardian )