Nigerian stocks continue to show tough resilience, with equities cumulatively recording a positive yield over the weeks since the central bank increased the benchmark interest rate in May. This increase ordinarily would have lured investors away from stocks to fixed-income assets offering improved return on investment.
Market activity is currently at its strongest in years, with trade volume averaging 2.2 billion shares weekly in the past four weeks.
This suggests that the long period of depressed trade that followed after the COVID-19 pandemic is over.
