• Index hits 14-year high amid improved earnings, dividends reinvestment, derivatives roll out
• Growth attributed to steady increase in global oil price, listed companies’ impressive earnings
Amid uncertainties in the global economy and rising insecurity in the country, the nation’s stock market continued its bullish run, giving hope to patient investors who endured long periods of downturn on the Nigerian Exchange Limited (NGX).
After getting to a rock-bottom low for several years, the equities market have recorded an unprecedented upbeat rally since the beginning of the year to emerge the best performing market in Africa and third in the world.
The NGX’s All Share Index (ASI), an indicator used to track the general market movement of all listed equities on NGX, crossed 53,000 mark to hit a 14-year high for the first time since 2008, as indices soared significantly by N5.4 trillion from the beginning of the year.
Specifically, market capitalisation opened the year…
Source: Guardian Newspaper
