Floating of Naira: Nigeria Gains N992bn in Stock Market
The news of the federal government’s decision to float the Naira and allow banks trade freely with the currency has had immediate impact in the stock market.
This is as the market capitalisation of equities appreciated by N992 billion to close at N32.662 trillion on Wednesday.
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This is a gain of 3.13% compared to the N31.670 trillion recorded in the previous trading session.
ECONOMIC CONFIDENTIAL reports that the All-Share Index (ASI) also traded 3.99% higher to close at 59,985.10 index points as against 58,163.55 index points recorded in the previous day’s trading session.
