Why Nigeria Stock Exchange Is Recording Growth In 2018 – Onyeama

The Nigerian Stock Exchange, the NSE, found its equity capital on Tuesday for outstanding market success over the past year. Oscar Onyeama, Chief Executive Officer of NSE, announced this on the 2017 stock exchange map and Outlook for 2018 program held in Lagos. Mr Onyeama has claimed that up to now, growth of about 12 percent by 2018 has been registered due to the emergence of the Nigerian Stock Exchange as the third best market in the world in 2017. Mr. Onyema, who considered news marketing more investors to include the nation's stock market, added that this also boosted player confidence in the market. The NSE chief noted that many people have identified that the market is still relatively inexpensive and this has contributed to a costly market price. At market performance in 2017, NSE chief said the market recovered from the macroeconomic altitude of the commodity cycle by 2017 in third place with the best performance globally, with 42 percent back in the NSE All-Share index. Market capitalization grew by 47 percent in 2017 to $ 13.62 trillion compared to N9.26 trillion recorded in 2016, adding that CBN policies increased liquidity in the foreign exchange market. Commenting on further, he explained that stock market activity grew from 2016, as market turnover rose 121 percent to N1.27 trillion of $ .08 billion. "New bond issues grew over the previous year, and bond yields gradually dropped from the level of 2016 in the midst of ease of inflation and greater stability of the foreign exchange rate. "Yields on different tenors fell from 0.4 percent to 1.5 percent, and market turnover fell by 24 percent in 2017, as investors sought higher returns in alternative product categories. "Additional spending by the federal government saw an increase in market capitalization of bonds by 34 percent compared to last year," he said. Commenting on stock market projection for 2018, Mr. Onyema said that political activities and movements in foreign exchange would affect market growth. "Indeed, to a certain extent, political activity and currency movements will have a certain impact on the market, but we expect these effects to be short-lived and that performance of core business activities will ultimately determine market performance," he explained. ...
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