Consequently, at the close of the first trading day post inauguration, the benchmark All Share Index (ASI) rose by 5.2 percent, representing the biggest single-day gain in two years to date.
Precisely, the All Share Index advanced to 55,738.35 points from 52,973.88 points, driven by strong performance in some heavyweights, MTN Communication Nigeria Plc (+7.53%), Dangote Cement Plc (+7.41%) and BUA Cement Plc (+4.55%), alongside gains in all the banking stocks.
Similarly, the market capitalisation of all listed equities rose by the same margin to N30.350 trillion from N28.845 trillion in the last trading session.
Economists and investment analysts that spoke to Vanguard attributed the positive sentiment to the smooth transition and the reform prospect of President Bola Tinubu’s administration.
They, however, opined that the new president must match his words with action to sustain the gains recorded yesterday.
