Nigerian equities set for record return with N5.8tr gain

Nigerian equities are set for another record return as continuing bargain-hunting pushed average return so far in 2020 to 44.55 per cent, equivalent to net capital gains of N5.77 trillion. The recent highest return was 42.3 per cent recorded in 2017.

The All Share Index (ASI)- the value-based common index that tracks all share prices at the Nigerian Stock Exchange (NSE) opened yesterday at 38,800.01 points, 44.55 per cent above 26,842.07 points recorded as opening index for the year. The ASI had consolidated its rally with average gain of 5.42 per cent or net capital gain of N1.04 trillion in the four-day trading session last week.

Aggregate market value of all quoted equities at the NSE crossed the N20 trillion mark to open yesterday at N20.279 trillion as against N19.236 trillion recorded as opening value for last week. It had opened the year at N12.958 trillion.