Nigerian Stock Exchange Records Best Quarter in Seven Years
The Nigerian Exchange Group has reported its strongest quarterly performance in seven years, with the All-Share Index gaining 34 percent in three months as foreign investor confide...
The Nigerian Exchange Group has reported its strongest quarterly performance in seven years, with the All-Share Index gaining 34 percent in three months as foreign investor confidence strengthened.
Total market capitalisation rose from N52 trillion to N70 trillion, while daily average trading volumes doubled compared to the same quarter last year.
Banking stocks led the rally, with seven of the top ten performing securities being financial sector companies.
NGX Chief Executive Temi Popoola attributed the performance to macroeconomic stabilisation, banking sector recapitalisation and growing domestic retail investor participation.
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