Inflation negatively impacts Nigerian stock market, GDP drives positive growth.
The study looked at how different economic factors affect the stock market in Nigeria from 2009 to 2018. They found that inflation rates have a negative impact on stock prices, while GDP growth has a positive impact. Exchange rates and interest rates, however, do not have a significant effect on stock prices. The researchers suggest that to keep the stock market healthy, the economy should continue to grow, and authorities should regulate inflation, interest rates, and exchange rates effectively.