Despite Global Volatility, Nigeria’s Stock Market Appreciated by N4.15trn in Nine Months – THISDAYLIVE


•Investors move to take advantage of high yields in fixed income securities

Kayode Tokede

The stock market of the Nigerian Exchange Limited (NGX) maintained its positive momentum in the first nine months of 2022, gaining N4.15 trillion to outshine global markets that have witnessed severe volatility.

The market capitalisation of the NGX had opened in 2022 at N22.297 trillion, gaining N4.15 trillion or 18.63 per cent to close at N26.451trillion as of September 30, 2022.

Also, the NGX All-Share Index appreciated by 14.8 per cent year-to-date (YtD) to 49,024.16 basis points from 42,716.44 basis points the stock market opened in 2022 for trading.

For the global stock markets, the NASDAQ Composite Index has depreciated by -20.95 per cent YtD, while the United Kingdom FTSE 100 – London Stock Exchange – has depreciated by -6.44 YtD performance.

Other notable stock exchanges which have also recorded decline in performance included: the CSI 300…

Source: Thisday Newspaper