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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/nigerian-stocks-see-limited-gains-as-cbn-launches-new-accounts/
Nigerian stocks are expected to show limited gains in the short term as traders continue profit-taking after a slight decline earlier in the week.
The equity capitalization fell to NGN 64.251 trillion, a drop of NGN 51 billion, while the NGX All-Share Index dipped to 105,367.25 points. The market’s performance remained negative, with 25 gainers, including Cap, Neimeth, and Livestock, and 33 decliners, led by Lasaco, Nnfm, and Academy.
Tantalizer led in trading volume, while GTCO topped in value traded. This mixed market performance highlights investor caution amid both external uncertainties and domestic pressures. Although the market is trending bearish in the short term, selective gains in certain stocks provide some support.
In a move aimed at enhancing financial access for Nigerians abroad, the Central Bank of Nigeria (CBN) has introduced two new account products: the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account. These accounts are designed to improve fund management and investment opportunities for Non-Resident Nigerians (NRNs), such as investing in Diaspora Bonds. While the immediate impact of this initiative may take time, it is expected to increase diaspora participation, boost liquidity, and ultimately contribute to market stability and long-term economic growth.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/nigerian-stocks-see-limited-gains-as-cbn-launches-new-accounts/
