Between the opening of the market on January 4, 2022, and the conclusion of business on December 30, 2022, investors in the Nigerian Exchange earned N5.618 trillion. Despite the threat to the world economy, the capitalization of the Nigerian stock market increased from N22.297 trillion on January 4, 2022, to N27.915 trillion on December 30, 2022.
The NGX All-Share Index increased by 19.98% to 51,251.06 basis points during the period under review notwithstanding market volatility brought on by investor sell-offs of risky assets in advanced countries’ stock markets.
According to a Financial Times study cited by the Institute of International Finance, a record run of withdrawals by foreign investors slammed emerging countries, resulting in $38 billion in cross-border outflows between March and July.
A release seen by The PUNCH claims that Ghana joined Sri Lanka, Bangladesh, and Pakistan as countries that have indicated a lack of capacity to continue to service their debts.
Meanwhile, the Chief Executive Officer, NGX, Temi Popoola, spoke about the exchange’s impressive year, despite facing global macroeconomic challenges and volatility. “It’s been a fantastic year for NGX, with a positive 19.98 per cent return,” he said.