The Nigerian stock market has sent shockwaves through the financial community, as the Nigerian Exchange Limited, NGX All-Share Index surged to an all-time high and shattered the 70,000-point barrier.
At the end of trading on the floor of the Exchange on Wednesday, the ASI jumped by 1.94% to 70,581.76 points from 69,236.19 with the market capitalization of listed companies hitting N38.78 trillion. Data from NGX shows that while foreign investor participation in the capital market is slowly rising, domestic investor sentiment has been highly positive, with increased allocation into equities. Already, total transactions in the equity market hit N2.71 trillion as of September end, 38% higher than the corresponding period in 2022.
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