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Nairaland Forum / Nairaland / General / Business / Nigerian Equities Hit All-time N15.78tr High (6281 Views)
After Record Loss, Nigeria’s Equities Market Rebounds / Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday / Nigerian Equities Lose N467b Friday As Panic Selling Persists (2) (3) (4)
Nigerian Equities Hit All-time N15.78tr High by deji17: 6:14am On Jan 17, 2018 |
Nigerian equities hit all-time N15.78tr high Posted By: Taofik Salako On: January 17, 2018 Nigerian equities scored a double yesterday as sustained scramble for quoted shares ballooned the aggregate market value of all quoted equities to N15.783 trillion, the highest in the 57 years of trading at the stock market. The All Share Index (ASI)-the benchmark index that tracks share prices at the Nigerian Stock Exchange (NSE), also rallied to its nine-year high at 44,054.72 points. The ASI had hit 66,000 points at the height of the unprecedented stock bubble in 2008. The NSE was established as Lagos Stock Exchange in 1960 but it started formal trading in 1961. The NSE began trading with 19 securities; there are more than 160 quoted companies now. With nearly three gainers to every loser, bullish trend gathered momentum as the management of the NSE yesterday unfolded its strategic plan for the new business year. The ASI recorded a day-on-day increase of 2.17 per cent to close at 44,054.72 points as against its opening index of 43,119.00 points. Aggregate market value of all quoted equities also rose from its opening value of N15.447 trillion to close at N15.783 trillion, representing a net capital gain of N336 billion. With this, the average year-to-date return jumped to 15.2 per cent, equivalent to net capital gain of about N2.17 trillion so far this year. At a review of 2017 and preview of 2018 yesterday at the NSE, Chief Executive Officer Mr Oscar Onyema said the outlook for the Nigerian capital market is encouraging. ”Indeed, to some extent, political activities and currency movements will have some effect on the market, but we expect that such impacts will be short lived and the performance of the underlying business activities will ultimately determine market performance,” Onyema said. He added that the NSE was on track to become a more agile and flexible demutualised securities exchange. “We are hopeful that the Demutualization Bill will be signed into law in 2018, and are working assiduously with our advisers to fine-tune outstanding aspects of the demutualization project as well as providing clarity and transparency on the process via regular engagement with all our valued stakeholders,” Onyema said. In 2018, Onyema said the NSE will launch Exchange Traded Derivative instruments and continue to engage with the government on privatization and listing of state owned enterprises in collaboration with the private sector. The Exchange will also maintain its role as an advocate for the adoption and implementation of market friendly policies. According to him, in keeping with its objective of taking a vigorous and adaptive approach to strategy execution, the NSE re-assessed its strategic agenda in the light of changing dynamics in both the operating environment and the global exchange landscape against the backdrop of the fourth industrial revolution. This culminated in a new corporate strategy for the 2018 – 2021 period. “Our efforts will be geared at satisfying our customers, boosting our domestic retail segment, and enhancing our organisation for a demutualized structure,” Onyema said. http://thenationonlineng.net/nigerian-equities-hit-time-n15-78tr-high/ 3 Likes 1 Share
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Re: Nigerian Equities Hit All-time N15.78tr High by agwom(m): 6:17am On Jan 17, 2018 |
Good development 5 Likes 1 Share |
Re: Nigerian Equities Hit All-time N15.78tr High by omonnakoda: 6:30am On Jan 17, 2018 |
This claim is like taking a single piece of meat and cutting it into two and saying you now have more. Is it at an all time high in dollar terms or in terms of a Naira that has lost 50% value in 3 years. The reality is that the NSE has not yet recovered totally from the Naira woes though it is recovering 13 Likes 4 Shares |
Re: Nigerian Equities Hit All-time N15.78tr High by naijapips04: 7:20am On Jan 17, 2018 |
Trash. Two things, Naira was devalued and Our stock market is recovering from recession. These kind of bursts are expected just as they happened during the last stock market depression 2008 - 2012. 2 Likes 1 Share |
Re: Nigerian Equities Hit All-time N15.78tr High by Benekruku(m): 7:20am On Jan 17, 2018 |
Flat-Headed Dwarfs will be disappointed this morning What a bad news to start the day 10 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by Balkan(m): 7:21am On Jan 17, 2018 |
Government of propaganda. APC you cant win with propaganda. If all this do not reflect on the food we buy in the market and price of fuel in SS and SE, That means you are lying. Stop dishing out figures 2 Likes 2 Shares |
Re: Nigerian Equities Hit All-time N15.78tr High by Damidave1124(m): 7:21am On Jan 17, 2018 |
O |
Re: Nigerian Equities Hit All-time N15.78tr High by Pope22(m): 7:22am On Jan 17, 2018 |
Buhari is not working, there is nothing you people will say that will make it look like buhari is working, he is not working, he is not working, he is not working, he is not working, he is not working, he is not working, he is not working, BUHARI is not working. 4 Likes 1 Share |
Re: Nigerian Equities Hit All-time N15.78tr High by wristbangle: 7:22am On Jan 17, 2018 |
This is a good news. By now, this positive economic remarks ought to have reflected in commodity price and exchange rate but some evil element who are out to make exorbitant profit would rather want things to maintain its current status quo. The naira value ought to have appreciated to atleast N280 per dollars. Though we don't know how long oil price will remain high but other non oil sector commodities we export had increased of recent. 7 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by AnotherZik: 7:22am On Jan 17, 2018 |
deji17: Nigerians grudgingly agree my govt is doing its best ― Buhari President Muhammadu Buhari has observed that Nigerians are grudgingly accepting that his administration is doing its best given that he took over from a party that had the most resources in its 16-year reign. Read more: https://newsworth.ng/nigerians-grudgingly-agree-govt-best-%e2%80%95-buhari/ 2 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by puregrace(m): 7:22am On Jan 17, 2018 |
Not seeing the effect on the common man's life. |
Re: Nigerian Equities Hit All-time N15.78tr High by LaudGuy: 7:23am On Jan 17, 2018 |
Very good, but I must ask how does all these all time high figures and record breaking stipulations trickle down to adding value and succour to the sufferings of the common man and families on the street... 1 Like |
Re: Nigerian Equities Hit All-time N15.78tr High by Realdeals(m): 7:25am On Jan 17, 2018 |
When is MTN trading on NSE? |
Re: Nigerian Equities Hit All-time N15.78tr High by geozone: 7:27am On Jan 17, 2018 |
convert to a standard currency($) and youll find its not really an all time high. |
Re: Nigerian Equities Hit All-time N15.78tr High by oluFELAxy(m): 7:27am On Jan 17, 2018 |
. 1 Like |
Re: Nigerian Equities Hit All-time N15.78tr High by UsefulTunde(m): 7:29am On Jan 17, 2018 |
That's nice! But that doesn't have any effect of our economy |
Re: Nigerian Equities Hit All-time N15.78tr High by eezeribe(m): 7:33am On Jan 17, 2018 |
OK |
Re: Nigerian Equities Hit All-time N15.78tr High by jericco1(m): 7:33am On Jan 17, 2018 |
figures everywhere |
Re: Nigerian Equities Hit All-time N15.78tr High by SLIDEwaxie(m): 7:36am On Jan 17, 2018 |
omonnakoda:like your other educated illiterates, you are lame upstairs. During GEJ, naira was devalued twice. Because the government decided not to devalue, means the figures are wrong, right? The only thing that will make the naira strong is if you are able to export more and import less. You will all open teeth like roasted rodents and be talking rubbish! 9 Likes
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Re: Nigerian Equities Hit All-time N15.78tr High by Nobody: 7:36am On Jan 17, 2018 |
I hope this isn't the bubble before the burst. Pennywise investors like me are usually cautious to throw in the money as we have had this experience in the past. Companies cooking the books. 1 Like |
Re: Nigerian Equities Hit All-time N15.78tr High by Nobody: 7:38am On Jan 17, 2018 |
For those asking how this news helps the economy, that's like asking how increased interest rate on bank savings helps you when you have no bank savings. Anyways, it points to a more robust economy and shows that the private sector is thriving well which should be good news coming out of a biting recession. Increased pay, more jobs, bla bla , infact it would jump start the frail economy 4 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by LastSurvivor11: 7:39am On Jan 17, 2018 |
Why is the hunger and suffering still ALL TIME HIGH ?? 2 Likes
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Re: Nigerian Equities Hit All-time N15.78tr High by oluseyiforjesus(m): 7:42am On Jan 17, 2018 |
Wetin concern masses with ds yeye figure. 2019 oyoyo |
Re: Nigerian Equities Hit All-time N15.78tr High by Fesomu(m): 7:55am On Jan 17, 2018 |
Op is wicked o. Early morning bad news for our 5% foreigners 2 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by ebujany(m): 7:59am On Jan 17, 2018 |
![]() Nigerians are hungry, buhari is busy giving us statistics Who statistics EPP? 1 Like 1 Share |
Re: Nigerian Equities Hit All-time N15.78tr High by ebujany(m): 7:59am On Jan 17, 2018 |
Re: Nigerian Equities Hit All-time N15.78tr High by Fesomu(m): 8:01am On Jan 17, 2018 |
ebujany:have u taken your drugs this morning?? 4 Likes |
Re: Nigerian Equities Hit All-time N15.78tr High by ebujany(m): 8:04am On Jan 17, 2018 |
Fesomu:
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Re: Nigerian Equities Hit All-time N15.78tr High by stonesk: 8:05am On Jan 17, 2018 |
lies........... |
Re: Nigerian Equities Hit All-time N15.78tr High by omonnakoda: 8:06am On Jan 17, 2018 |
SLIDEwaxie:Your epileptic mother will cough to death. She will never stop coughing |
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