Nigerian Stock Market Among World’s Top 5 Performers in 2017

Domestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity

Stock markets all around various regions, economic blocs, and the world have been reacting to peculiar factors which can be traced to those regions or economic unions while a continuous rise in global oil prices cannot be ruled out following renewed vigor from active players in global oil markets.

U.S. stocks were on the first-class ride into record territory in 2017. But they weren’t alone. The value of public companies on global stock markets grew by $12.4 trillion in 2017, according to S&P Dow Jones Indices, which included dividends in its calculation. A number of markets even outperformed the U.S.

Right from Europe to Africa, Asia, and the US, stock markets seem to be witnessing some rallies as seen in the performance of benchmark gauge across Europe during the year under review.

The Nigerian All-Share index is still miles below record highs set in early 2008, but a 43% rally in 2017 has helped to close the gap.

The index suffered mightily in 2015 and 2016 as low oil prices, militant attacks, currency troubles, elections, and Ebola-hit investor sentiment.

But oil prices have moved higher, the central bank has made it easier to swap currencies and the economy has snapped out of recession, explained Zin Bekkali, founder, and CEO of Silk Invest.

Read Also:  Inefficiency at Apapa Port Gridlock Puts $300 million Cashew Export at Risk

Many analysts are optimistic that stocks could keep rising in 2018.