President Bola Ahmed Tinubu
The Nigerian stock market closed in the green today, with the All-Share Index (ASI) rising by 1.3% to cross 60,000 index points.
The market’s positive performance is being attributed to the suspension and arrest of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, and the changes to Nigeria’s foreign exchange operational framework.
Market operators are now expecting that the reforms in the monetary and forex policy will lead to an inflow of foreign portfolio investment in the market.
Equity trading on the Nigerian Exchange Limited (NGX) closed trading on Tuesday, June 27th, 2023, in the green territory as the NGX All-Share Index appreciated by 1.3% to cross 60,000 index points.
This is the highest point the ASI has reached in over 15 years. Read More…
Investors sentiment has remained positive as the market cheered some of the economic decisions of President Bola Tinubu especially the changes to Nigeria’s foreign exchange operational framework.
President Bola Tinubu’s economic policies (which Nairametrics dubs Tinubunomics) appear to be having a ripple effect on Nigeria’s economy and it is no surprise that the capital market which is the barometer of the economy is having a positive outing.
According to available statistics obtained by Nairametrics, the equities market on Tuesday closed with capital gains of N421 billion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 4.01%.
A total of 763.70 million shares valued at N12.53 billion were exchanged in 9,463 deals. Access Holdings (+3.61%) led the volume chart with 111.67 million units traded while GTCO (+5.20%) led the value chart in deals worth N2.69 billion. Continue Reading…
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