The NGX continued its bullish run as the All-Share Index appreciated by 1.57%, gaining 1,618.98 to close at 104,421.23 points.

The market breadth was positive today, as there were 61 gainers, against 12 losers. The market’s bullish performance was led by Dangote Sugar which gained 7.17%, and banking stocks which recorded remarkable gains.

Equities gained N898 billion as the market cap closed at N57.16 trillion, up from yesterday’s N56.26 trillion.

In terms of trading volume, there was a 26% increase to 943.51 million units from yesterday’s 749.13 million units. And in terms of trading value, there was a 97% increase to N23.48 billion, from yesterday’s N12.16 billion.

Market Indices

• NGX All-Share Index: 104,421.23 points
• % Day Change: +1.57%
• Day’s Lowest: 102,804.77 points
• Day’s Highest: 104,590.52 points
• % YTD: +39.65%
• Market Cap: N57.16 trillion
• Volume Traded: 943.51 million units
• Value Traded: N23.48 billion

Source: https://nairametrics.com/2024/02/02/ngx ... 23-points/

Good update

Honestly, we do need more cash in circulation because the inflation rate is increasing massively.

YoungA wrote: ↑February 3rd, 2024, 11:03 am Honestly, we do need more cash in circulation because the inflation rate is increasing massively.

No, more cash in circulation leads to more inflation.

The more the cash pursuing limited goods will lead to price increase.

So, more cash is not good for inflation.

Something else is broken and we cant fix it with more cash.
Sadly

Jared wrote: ↑February 3rd, 2024, 11:36 am

YoungA wrote: ↑February 3rd, 2024, 11:03 am Honestly, we do need more cash in circulation because the inflation rate is increasing massively.

No, more cash in circulation leads to more inflation.

The more the cash pursuing limited goods will lead to price increase.

So, more cash is not good for inflation.

Something else is broken and we cant fix it with more cash.
Sadly

To fix Nigeria now looks like a fantasy

Jared wrote: ↑February 3rd, 2024, 11:36 am

YoungA wrote: ↑February 3rd, 2024, 11:03 am Honestly, we do need more cash in circulation because the inflation rate is increasing massively.

No, more cash in circulation leads to more inflation.

The more the cash pursuing limited goods will lead to price increase.

So, more cash is not good for inflation.

Something else is broken and we cant fix it with more cash.
Sadly

Thank you sir for educating me on this one.

YoungA wrote: ↑February 6th, 2024, 9:42 am

Jared wrote: ↑February 3rd, 2024, 11:36 am

YoungA wrote: ↑February 3rd, 2024, 11:03 am Honestly, we do need more cash in circulation because the inflation rate is increasing massively.

No, more cash in circulation leads to more inflation.

The more the cash pursuing limited goods will lead to price increase.

So, more cash is not good for inflation.

Something else is broken and we cant fix it with more cash.
Sadly

Thank you sir for educating me on this one.

You're welcome. That's why we're here. Impact one another for better.

Nice