The Nigerian Stock Exchange lost 85 billion naira on Tuesday after it emerged that the presidential candidate of the All Progressives Congress- APC- was leading in the results already tabulated by the Independent National Electoral Commission- for the poll held on Saturday across the country.
At the beginning of business on Tuesday, market capitalisation was N12.194 trillion but stood at N12.109 trillion by the end of business- shedding 0.69% of its opening value. On Tuesday too, the all-Share Index lost 226.30 points to close at 32, 473.82 taking of 0.69% from Monday’s 32, 700.12.
This was the opposite of what happened in 2015 where the market gained 100 billion naira in one day of trading after it emerged that then General Buhari was about to unseat the incumbent President Goodluck Jonathan at what was a very keenly contested election.