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.
Top gainers
- 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
Top losers
- 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
Outlook
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.
