The Nigerian stock market saw a significant gain of N1.29 trillion, driven by new listings. Cash demand also strengthened, with key financial indicators showing notable rises.
The Nigerian Exchange (NGX) recorded a substantial increase in market value, advancing by N1.29 trillion, primarily fueled by the introduction of new listings. This development highlights ongoing activity in the equity market as investors respond to fresh opportunities.
In parallel, cash demand in the economy has shown signs of strengthening. The cash on books (COB) rose to N4.65 trillion, while cash in circulation (CIC) reached N5.06 trillion. These figures indicate heightened liquidity and economic transactions.
Looking ahead, economist Rewane has projected that the NGX market capitalization could reach N262 trillion by 2026. This forecast suggests optimism for sustained growth in Nigeria's capital markets, potentially influenced by policy measures and investor confidence.
No specific timeline for these changes was detailed, but they reflect recent market dynamics in Nigeria's financial sector.