NSE ranked world’s best-performing stock market in 2020

The Nigerian Stock Exchange (NSE) has been named the best-performing stock market among the 93 equity indexes being tracked by Bloomberg across the world.

The all-share index which opened at 38,800.01 inched higher by 310.16 points or 0.80 percent to cross the 39,000 mark and close at 39,110.17.

Also, the market capitalisation rose by N167 billion to close at N20.446 trillion compared with N20.279 trillion achieved on Thursday before the Christmas and Boxing Day holidays.

Year-to-date returns are currently at 45.7 percent; the best annual return since 2013.

Analysis by TheCable also showed that investors had booked N7.31 trillion in gains as of December 22, 2020.

The rally was also supported by the dovish stand of the Central Bank of Nigeria (CBN).

The apex bank cut the base monetary policy rate by 200 basis points to 11. 5 percent, in order to boost lending, discourage savings and drive growth to counter the pandemic effect on the economy, while also keeping rates low in the fixed income market.

Excess liquidity (created by CBN’s OMO restriction), the hunt for double-digit yields and depressed pricing, helped to rekindle local interests in the equities market in 2020.

The uptrend recorded at the end of trading on Tuesday was driven by price appreciation in medium and large capitalised stocks amongst which are; BUA Cement, Zenith Bank, Access Bank, NPF Microfinance Bank and NEM Insurance.

A breakdown of the price movement chart shows that Jaiz Bank dominated the gainers’ chart in percentage terms with 10 percent, to close at 66k per share.

NEM Insurance followed with 9.56 per cent to close at N1.49, while Lasaco Assurance rose by 8.82 per cent to close at 37k per share.

NPF Microfinance Bank improved by 8.39 per cent to close at N1.68, while Japaul Gold and Ventures appreciated by 8.33 per cent to close at 52k per share.

Conversely, NCR led the laggards’ chart in percentage terms, losing 9.68 per cent to close at N1.96 per share.

FTN Cocoa Processors trailed with 8.99 per cent to close at 81k, while Trans-Nationwide Express shed 8.86 per cent to close at 72k per share.

Chams shed 8.70 per cent to close at 21k, while AXA Mansard Insurance lost 4.76 per cent to close at N1 per share.

Also, the total volume of shares traded rose by 85.4 percent with an exchange of 722.57 million shares worth N4.38 billion in 5,042 deals.

This was in contrast with a total of 381.72 million shares valued at N7.97 billion exchanged in 2,925 deals on Thursday.

Transactions in the shares of AIICO Insurance topped the activity chart with 273.13 million shares valued at N326.09 million.

Oando followed with 81.45 million shares worth N323.33 million, while FBN Holdings traded 41.09 million shares valued at N294.21 million.

Access Bank traded 40.14 million shares worth N353.27 million, while Champion Breweries transacted 36.33 million shares worth N30.16 million.

Simplyleo:
When it was reported that the stock market closed for the year with an aggregate loss of about 20b, shildren of 8, anger and perdition literally ate Buhari and Tinubu raw for being responsible.

Simplyleo:
When it was reported that the stock market closed for the year with an aggregate loss of about 20b, shildren of 8, anger and perdition literally ate Buhari and Tinubu raw for being responsible.

Now that the same NSE has been named the best-performing stock market among 93 equity indexes, watch how same unstable elements make a very sharp U-turn relieving Buhari and Tinubu of responsibility for such good performance.

In the case, the reason for such performance is investors' efforts, not Buhari and Tinubu.

Na only Baba God sabi how their brains dey accommodate such clear conflict of ideology.

deji17:


But they are already saying that the performance has not positively affected their lives in any way and when you ask if they invested in the market, the mater go turn into look me I look you...

deji17:


https://www.thecable.ng/nse-ranked-2020-best-performing-stock-market/amp

HeadNigga:
We just dey pack world best but The average Nigerian is hungry

Olude193:
I need a very good stockbroker

deji17:
Nigeria Stock Exchange also made history by surpassing N20 trillion for the first time ever.

WibusJaga:
Can any Economist in the house pls explain how this impacts the Nigerian common man positively