Stock markets around the world continue to experience volatility. In Nigeria, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed higher, gaining a modest 11 basis points (bps) week-on-week at 66,464.57 points. Investors are eagerly awaiting policy statements from fiscal and monetary authorities as new economic plans are rolled out. The market capitalization closed at N36.510 trillion, with a year-to-date growth of 29.89%. Analysts anticipate mixed sentiment in the market with bargain hunting and portfolio repositioning ahead of Q3 corporate earnings reports and the reconvening of the monetary policy meeting by the Central Bank of Nigeria [d842ddd2] [51ea1f2c] [3e00a03a].
In Saudi Arabia, the Tadawul All Share Index (TASI) slipped by 0.41% to close at 10,542.86. The total trading turnover of the benchmark index was SR3.80 billion ($1.01 billion). Similarly, the Kingdom's parallel market Nomu slipped by 0.32% to 22,060.28. The MSCI Tadawul 30 Index also edged down by 0.56% to 1,356.20 [19a4ed54].
Meanwhile, the NASD Over-the-Counter (OTC) Securities Exchange in Nigeria closed with a 1.36% rise on November 24. Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and UBN Property Plc saw their stock prices appreciate, while Central Securities Clearing System (CSCS) Plc and NASD Plc saw their stock prices decline. The market capitalization of the NASD OTC bourse increased by N15.56 billion to close at N1.162 trillion, and the NASD Unlisted Security Index (NSI) went up by 11.48 points to 857.29 points. The volume of securities traded at the bourse increased by 1,091.4% to 9.2 million units, the value of shares traded increased by 161.8% to N84.7 million, and the number of deals rose by 25% to 25 deals [02db322a].
A recent analysis by Visual Capitalist reveals the largest stock exchanges in the world. The New York Stock Exchange (NYSE) and Nasdaq command 42.4% of global market capitalization. Euronext is the world's third-largest exchange, while the Shanghai Stock Exchange ranks fourth. India's stock market has grown over 133% since 2016. Goldman Sachs projects that emerging markets will surpass America in stock market capitalization by 2050. The analysis also examines the salary needed for home ownership in the top 50 metro areas in the US [09bf29b7].
In Greece, Athens International Airport SA made its debut on the Athens Stock Exchange with a significant jump in stock price. The stock opened at €9.4 per share, a 15% increase from the initial public offering (IPO) price of €8.2, which was at the high end of the initial range. This marks the country's largest IPO in over two decades. Investors are optimistic about the prospects of Athens International Airport and its potential for growth in the Greek stock market [a945d5ad].