Nigerian Equities Surpasses Other African markets

Equities market   has continued to record impressive performance in Nigeria among its African peers, outperforming   other markets such as South Africa, Egypt, Zambia, Mauritius and Kenya at the end of July 2013.

Nigeria was one of the best performing in 2012 and the same trend has continued. By the end of July   the Nigerian market recorded a growth of 35%.  The performance is second behind only Ghana that posted a return of 61%, Kenya came third with 30%, Zambia recorded a growth of 27%, and Mauritius posted a return of 7.9%, while South Africa and Egypt ended the seven months with a growth of 5.2% and 7.9% respectively.

The Nigerian market has recorded a growth of 63% year on year as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose from 23,488.79 to close at 38,424.34.

In the same period, the market capitalisation of the NSE has added ₦4.692 trillion, rising from ₦7.476 trillion to ₦12.169 trillion. Market operators are of the opinion that the market would continue to maintain a steady growth in the remaining part of the year.