By Chinwendu Obienyi
Transactions on the floor of the Nigerian Stock Exchange (NSE) closed the year 2020 on a landmark note as the All Share Index (ASI) rose 1.92 per cent higher.
The positive run that had dominated the month of December 2020 saw the All-Share Index (ASI) settling at 40,270.72 points, crossing the 40,000 milestone for the second time in more than three years.
In the same vein, the NSE market capitalisation closed the year at N21.056 trillion while year-to-date (YTD) return stood at 48 per cent.
Analysis done by Daily Sun showed that the upturn in Thursday’s trading session was due to price appreciation in the shares of BUA Cement, MTNN and BOCGas.
Meanwhile stakeholders have continued to laud the performance of Nigeria’s stock market after it was ranked the best-performing stock market in 2020.
Among the 93 equity indexes being tracked by Bloomberg across the world, the Nigerian Stock Exchange (NSE) topped the list and this drew plaudits from economic analysts as well as Nigeria’s Center for Disease Control (NCDC).
Speaking during the last trading day/ closing gong ceremony yesterday in Lagos, the Director General, NCDC, Dr Chikwe Ihekweazu, described the performance of the NSE as brilliant and resilient despite the COVID-19 pandemic.
Ihekweazu stated that he was pleased with the contribution of the NSE towards curbing the increase of the COVID-19 pandemic.
He said: “The NSE has been supportive of the measures put in place to curb the rise in the COVID-19 cases. We hope that we will come out stronger in 2021 just as the stock market has remained resilient in the year 2020 and we are working round the clock to ensure the pandemic would not affect economic activities.
As we sound the closing gong, we remember the lives that has been lost and so our collective responsibility is to protect our country and also remain safe by abiding with the protocols”.
Also speaking during the ceremony, the Chief Executive Officer of the Exchange, Oscar Onyema, who was represented by the Divisional Head at the NSE, Bola Adeeko, said that the year 2020 has been an eventful year at the NSE.
According to him, the landmark crossing of 40,000 mark is a testament to the NSE’s resilience despite the COVID-19 pandemic.
He gave assurance that the NSE would continue to engage with stakeholders, government and policymakers to strengthen the activities of the stock market and to ensure its growth and development.