Its Year-to-Date (YTD) returns are currently at +45.70%. Nigerian Stock Exchange market capitalization now stands at N20.447 trillion.
Also, the Nigerian bourse trading turnover on Tuesday soared higher as market turnover closes rallied up by 72.38% as against the 73.97% plunge recorded on Thursday. AIICO, OANDO, and FBNH were the most active to boost market turnover.
The market breadth closed negative as NEM led 18 Gainers as against 20 Losers topped by NCR at the end of today’s session – an unimproved performance when compared with the previous outlook.
Nigerian stocks are headed for their best annual gain in about seven years amid soaring oil prices at the US trading session.
The Nigerian All-Share index in Africa’s largest economy recorded its best return, rising 45.7% this year, the most among 93 equity indexes tracked by Bloomberg. It’s the world’s best-performing stock market year-to-date.
NSE30 Stocks, most especially Dangote, Airtel Africa, BUA cement increased the bullish trend at unprecedented levels, as Nigerian Stocks continues to attract institutional funds at a steady pace and the ultra-low rate environment seen lately in the debt market encouraged investors to invest more in local stocks exhibiting good fundamentals.
Nairametrics recommends you seek the advice of a Stockbroker amid price volatility presently prevailing at medium and large capitalized stocks.
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