NSE On The List Of Best Performing Stock Market In 2017

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Enterprise Television- NSE On The List Of Best Performing Stock Market In 2017

The majority of the best performing stock markets in 2017 are located in the emerging markets, with the exception of the United States of America.CNN in a report Wednesday said that Nigeria, Argentina, Turkey and Hong Kong are the best performing stock markets for 2017.

The news network said that Nigeria stocks were on a first-class ride into record territory in 2017 with many analysts optimistic that stocks could keep rising in 2018. The Nigerian All-Share index is still miles below record highs set in early 2008, but a 43 per cent  rally in 2017 has helped to close the gap.

The index suffered mightily in 2015 and 2016 as low oil prices, militant attacks, currency troubles, elections and Ebola hit investor sentiment.

But oil prices have moved higher, the central bank has made it easier to swap currencies and the economy has snapped out of recession, explained Zin Bekkalim, founder and CEO of Silk Invest.

Many analysts are optimistic that stocks could keep rising in 2018. “If you look at where we stand today, the [Nigerian] market is still one of the cheapest markets on the planet,” said Bekkalim.