Nigerian Exchange recorded landmark transactions in 2022 – chief executive

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Lagos, Jan. 25, 2023 – The Nigerian Exchange Limited (NGX) made a strong showing with its performance in the year 2022 as it recorded landmark transactions.

Speaking at the NGX 2022 Market Recap and 2023 Outlook in Lagos on Wednesday, Temi Popoola, the Chief Executive Officer of NGX, described the performance of the NGX in 2022 in superlative terms.

“In 2022, the equities market performance was evidenced by the 19.98 per cent  increase in the NGX All-Share Index, which rose from 40270.72 to 51,251.06, just as the market capitalisation also closed at a high of N27.92 trillion, up from N21.06 trillion in the previous year.

“The total turnover of trades in 2022 improved by 27% from N916 billion to N1.16 trillion year-on-year from 2021.

“Market participation was heavily skewed to the domestic investors. 

“The Fixed Income market saw a slight uptick in turnover to N3.89 billion in 2022 from N3.53 billion recorded in 2021.

“This represents a 10.20 per cent YoY increase.

“The Exchange Traded Funds market capitalisation increased from N7.35 billion in 2021 to N8.42 billion in 2022, representing a 14.5 percent increase in the market capitalisation.

“Stanbic IBTC ETF 30 which tracks the performance of NGX 30 index was the best performing ETF in 2022, having begun the year at N68.5 and closed at N245, reflective of 257.66 per cent returns.

“ETF transactions fell from N34.22bn in 2021 to N211.02m in 2022. This represents a 99.38 per cent decline in ETF turnover.

“Altogether, this signalled a good year for the Exchange despite global macroeconomic headwinds,” Popoola said.

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