Nigerian Equities Market Emerges Top Performer in 2020

Nigerian Stock Exchange rose to a seven-year high as the year comes to an end to emerge the world’s best-performing stock market in 2020.

In a Bloomberg Index that tracked 93 stock indexes, the Nigerian Stock Exchange led with a 45.7 percent gain from the year to date. Despite the economic crisis and COVID-19 negative impact on Africa’s largest economy, local investors remained confident in the economy and have continued to dump money on the nation’s equities.

On Tuesday, investors traded 722.566 million shares valued at N4.381 billion in 5,042 deals.

The market value of the bourse expanded by 0.80 percent to N20.447 trillion while the NSE All-Share Index rose to a record 39,110.17 index point, the highest in seven years.

The total bond value issued stood at N17.801 trillion in 2020 while the Exchange Traded Fund value stood N24.014 billion.

During the trading hours of Tuesday, AIICO led the most traded equities by volume at 273,128,932 shares valued at N326,092,287.17.

This was followed by OANDO as shown below.

Top Traded Stocks

Top Gainers

Top Losers