Confidence is gradually returning to the stock market as capitalization (total money in the stock market) jumped to N10.347 trillion today (Wednesday, June 22), from yesterday’s N10.105 trillion, recording a gain of N242 billion. Today’s market capitalization is the highest in 2016, following Monday’s introduction of the flexible exchange rate which saw the Naira hovering around N281 – N285 in the last three days.
All Share Index also improved today to 30,127.82 points, from yesterday’s 29,422.71 points.
Observers are hailing the new exchange rate regime which will allow investors to bring in and take out their money without hindrance.
At its height, market capitalization was near N15 trillion.