Nigerian stocks end 2020 as best in the world with 50% return.
Nigerian Stocks ended the last trading session of the year on an impressive note.
The All Share Index gained +1.92% to close at 40,270.72 index points as against the +1.03% surge recorded on Wednesday. Its Year-to-Date (YTD) returns currently stands at +50%.
- It’s important to note that such yearly returns seen in the Nigerian Stock Exchange were the first in 17 years.
- Nigerian Stock Exchange capitalization settled at N21.057 trillion.
- BOCGAS up 10.00% to close at N9.57
- NNFM up 9.95% to close at N6.74
- CILEASING up 9.94% to close at N5.2
- BUACEMENT up 9.87% to close at N77.35
- MTNN up 6.19% to close at N169.9
- ETERNA down 9.09% to close at N5.1
- INTBREW down 8.32% to close at N5.95
- ETI down 7.69% to close at N6
- ACCESS down 3.43% to close at N8.45
- PRESCO down 1.18% to close at N70.95
The world’s best performing stock market ended the last trading session of the year on an impressive note, as investors increased their buying pressure, especially on blue-chip stocks that include MTN Nigeria, BUA cement.
- Investors’ appetite for riskier assets has remained strong amid an ultra-low yield prevailing on Nigerian fixed-income instruments.
- However, Nairametrics envisages cautious buying, amid stringent capital controls set in place by Nigeria’s Apex bank that could trigger lower Foreign Portfolio participation in the future.