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LequteMan
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Nigeria - Boosted by expectations of a smooth election, Nigerian stocks on Friday recorded gains - for the sixth straight session- as as domestic investors snapped up shares, Reuters reports.
Analysts said concerns among investors that the elections could be delayed further, triggering a constitutional crisis that would unsettle markets further, had dissipated.
"The equity market rallied... before Saturday's presidential election amidst sustained demand for large caps. If presidential election is successfully held, we expect the rally to continue," analysts at Vetiva Capital said.
Brokers said local investors mostly pension funds were taking positions as strong earnings, especially in the banking sector, could signal renewed buying if the vote goes smoothly.
President Jonathan warned against violence ahead of the vote as people stockpiled food, cash and fuel for fear of post-election clashes.
Foreign investors, who account for bulk of transactions on the bourse are waiting on the sidelines, brokers said.
#Nigeria
Analysts said concerns among investors that the elections could be delayed further, triggering a constitutional crisis that would unsettle markets further, had dissipated.
"The equity market rallied... before Saturday's presidential election amidst sustained demand for large caps. If presidential election is successfully held, we expect the rally to continue," analysts at Vetiva Capital said.
Brokers said local investors mostly pension funds were taking positions as strong earnings, especially in the banking sector, could signal renewed buying if the vote goes smoothly.
President Jonathan warned against violence ahead of the vote as people stockpiled food, cash and fuel for fear of post-election clashes.
Foreign investors, who account for bulk of transactions on the bourse are waiting on the sidelines, brokers said.
#Nigeria