NSE soars past global exchanges, records highest daily gain in five years

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) recorded its largest daily gain in more than five years, surging by 4.9 per cent on Tuesday, 6 October 2020. The 12-day rally saw equities market capitalization cross the N15 trillion mark, bringing the Year-to-Date gain of the ASI to 7.7 per cent.

The benchmark index soared 13 per cent in the past month more than any of the other 93 major global gauges tracked by Bloomberg and has reclaimed the title of the best-performing market in the world, a position it held in February 2020. It has also been reported by Bloomberg that this is the longest winning streak the Nigerian bourse has recorded since July 2017.

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 24 March to 24 September.

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 Exchange also maintains constant engagement with capital market stakeholders through virtual closing gongs, Investors’ calls, workshops and trainings.