From December 27, 2023, to January 3, 2024, the value of equities listed on the NGX grew by almost N2.063 trillion in five trading days. The NGX All-Share Index increased by 5.11% in tandem with this gain.
This rising trend began on December 27 at 73,768.64 points and ended on January 3 at 77,537.57 points.
In addition, the NGX’s market capitalization increased, rising from N40.37 trillion on December 27, the first trading day after Christmas, to N42.43 trillion on January 3.
Investor morale in the NGX has been favorable since December 2023, despite the fact that the market gained 4.78% in that same month. However, since the start of 2024, investors have been more upbeat due to the market’s 3.7% gain in just two trading days.
Considering the astounding 45.9% return the exchange experienced in 2023, there’s a chance that increased interest in the NGX is one of the causes of this bullish run.
Even while foreign portfolio participation in the NGX hit a 13-month high in November 2023, the signs also suggest that foreign portfolio participation will increase.
