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Handiest performing inventory markets in Africa

July 5, 2024 10:35 PM

Several Nigerian quoted companies made the list of finest-performing stocks within the first half (H1) of 2024.

Handiest performing inventory markets in Africa [Getty Images]

The Nigerian Stock Substitute (NGX) outperformed a few diversified markets to become the becoming-performing inventory market in Africa within the first half of 2024, with its All-Portion Index marking a 33.81% assert.

Several Nigerian quoted companies which embody Veritas Kapital, Geregu Energy, and Julius Berger made the list of finest-performing stocks within the first half (H1) of 2024 helping to dwelling the NGX as Africa’s finest.

Nairametrics experiences that capital markets worldwide were bullish within the first half of 2024 as well to African inventory markets which all recorded assert all around the overview interval.

Below are the tip 5 performing inventory markets in Africa for H1, 2024:

The Nigerian Substitute Neighborhood (NGX) appreciated by 33.81% in H1, 2024, making it one in all the quickest-rising exchanges on this planet.

The NGX All-Portion Index stood at 74,773.77 at the origin of the one year and closed the interval at 100,057.49 whereas the market capitalisation rose from ₦40.9 trillion to ₦56.6 trillion all around the interval.

The Lusaka Securities Substitute (LuSE) appreciated by 28.13% in H1 2024, whereas its All-Portion Index started the one year at 10,828.18 and closed the interval at 13,873.75.

LuSE’s market capitalisation stood at $4.7 billion all around the interval.

The Ghana Stock Substitute rose by 22.34% all around the interval in overview with its composite index closing the interval at 3,829.61, from 3,130.23 recorded first and foremost of the one year.

GSE’s market capitalisation stood at $5.6 billion.

Handiest performing inventory markets in Africa [GSE]

The Nairobi Securities Substitute (NSE) appreciated by 18.87% all around the interval in overview and its All-Portion Index rose from 92.11 first and foremost of the one year to 109.49 at the discontinue of the interval.

The NSE All-Portion Index hit its perfect level in March 2024 since July 2023 after sustaining a bearish flee since 2022, declining by 23.4% and extra by 27.7% in 2023.

The Uganda Securities Substitute (USE) witnessed a 17.93% assert in H1 2024 closing its All-Portion Index at 1,028.93, from 872.5 first and foremost of the one year.

USE’s market capitalisation is roughly $6.3 billion.

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