NGX hits highest USD market cap since June 2023
This marks its highest level since June 2023, when the Central Bank of Nigeria (CBN) introduced the floating exchange rate regime. The milestone reflects renewed investor confidence despite persistent macroeconomic headwinds.
The market has gained 47.15 percent year-to-date, outperforming its returns from previous years. In 2024, the NGX rose by 37.65 percent. A year earlier, it posted a 45.9 percent gain.
The Nigerian Exchange (NGX) ended trading on October 21 with a market capitalisation of N96.134 trillion, equivalent to $65.6 billion.
This marks its highest level since June 2023, when the Central Bank of Nigeria (CBN) introduced the floating exchange rate regime. The milestone reflects renewed investor confidence despite persistent macroeconomic headwinds.
The market has gained 47.15 percent year-to-date, outperforming its returns from previous years. In 2024, the NGX rose by 37.65 percent. A year earlier, it posted a 45.9 percent gain.