The Nigerian stock market reacted positively following the unification of forex by the Central Bank of Nigeria.
The market on Wednesday extended its gains as it continues its upward trajectory since the assumption of office of President Bola Ahmed Tinubu.
Investors continue to remain optimistic while taking favourably to the latest development that the central bank will now buy and sell forex at market-determined prices.
This development has sparked renewed enthusiasm and confidence among market participants extending the stock market rally to two days after a slew of positive announcements by the Tinubu administration.
The benchmark All Share Index (ASI) experienced a further increase, gaining 3.13% or 1,816.45 points to reach 59,985.1 points. This significant rise in the ASI indicates the growing positive sentiment and investor optimism in the Nigerian market.