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The Nigerian stock market has emerged as one of the top four best-performing exchanges in Africa, with investors’ returns currently standing at 31.34% in its Year-to-Date (YtD) growth.
According to findings, the Nigerian stock market’s YtD growth is a notable achievement, especially when compared to other African markets.
Investigations further revealed that the Ghana Stock Exchange Composite Index (GSE-CI) and the Malawi Stock Exchange (MSE) emerged as the first and second best-performing exchanges, respectively, in Africa.
In YtD performance, GSE-CI stood at 51.38% on investors’ returns, while the MSE All Share Index appreciated to 48.86% as of the December 6, 2024, close of the market.
The GSE-CI’s top spot in Africa’s best-performing markets is attributed to the resilience of key sectors, macroeconomic stabilization, a hike in gold prices, and increasing trading volume and liquidity.
Other top gainers in YtD performance include the Lusaka Securities Exchange All Share Index (LuSE) at 46.16% and the Nigerian Exchange Limited All-Share Index (NGX ASI) at 31.34% growth in YtD performance.
Further findings revealed that the Zimbabwe Stock Exchange All Share Index (ZSE ASI) is the only worst-performing exchange in Africa, with its YtD performance at -99.89%.
