Nigeria's main shares index soared to its single
biggest daily gain this year on Wednesday while bond yields fell sharply and
the naira currency surged in the black market as investors cheered Muhammadu
Buhari's presidential election victory.
The main shares index rose 8.4 percent as financial
markets welcomed the peaceful outcome of the closely-fought elections, marking
the first time in Africa's most populous nation where a sitting president was
voted out of power through the ballot box.
Analysts said foreign investors backed Buhari's
victory and were taking position by snapping up shares across the board.
Meanwhile, yesterday the equities market closed on
a positive note, as NSE ASI appreciated by +2.13 to close at 31,753.15 basis
points, compared with the +1.73 appreciation recorded previously. Its
Year-to-Date (YTD) returns currently stands at -8.38%
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