Nigerian Stock Exchange Emerges Best-Performing in the World
By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) has reclaimed the title of the best-performing market in the world, after the All Share Index (ASI) appreciated by 4.92 per cent on Tuesday.
The growth was the highest daily gain recorded by the exchange in more than five years. The benchmark index soared 13 per cent in the past month more than any of the other 93 major global gauges tracked by Bloomberg.
The gain posted yesterday was the 12th in a row, the longest winning streak the Nigerian bourse has recorded since July 2017, and this has pushed the market to a year-to-date growth of 7.7 per cent and has also increased the market capitalisation to the N15 trillion mark.
The steadily rising interest in the equities market is a clear sign of increasing investor confidence occasioned by the noteworthy activities of the exchange, especially during this pandemic.
NSE on its part has showcased its remarkable resilience by maintaining a thriving capital market even in the face of remote working and trading.
In line with its commitment to provide an accessible platform for listing and trading activities, NSE has recorded listings in the market worth over N1.42 trillion from March 24 to September 24, 2020.
Furthermore, NSE has continued to implement on its commitment improve market integrity, reduce market asymmetry and improve the flow of information into the market with the upgrade of several platforms.
It would be recalled that the exchange released an upgrade to its Data Portal, X-Data Portal; Issuers’ Platform, X-Issuer; and its whistleblowing portal, X-Whistle over the last few months.
The local bourse also maintains constant engagement with capital market stakeholders through virtual closing gongs, investors’ calls, workshops and trainings.