The Nigerian Exchange says its market capitalisation has crossed the N100 trillion mark, closing at N101.80 trillion on Monday. Data from the exchange shows this is an increase from N99.94 trillion recorded on January 2, representing a gain of N1.87 trillion.
In dollar terms, market capitalisation rose from 69.61 billion dollars to 71.15 billion dollars. The all-share index gained 1.74 percent, or 2,725.86 points, to close at 159,218.22, pushing both month-to-date and year-to-date returns to 2.32 percent. The NGX said the rally was driven by buying interest in stocks including Cadbury Nigeria, Fidson Healthcare and Champion Breweries, with 73 equities advancing against eight decliners.
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The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, said the milestone reflects growing confidence in the Nigerian capital market. He said closer collaboration between market operators, policymakers and the Securities and Exchange Commission has improved transparency, liquidity and investor protection.
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