Political turbulence triggers greater value droop
Investors lose 2.2 for every penny in one day
Turbulence in the political arena has sparked massive dumping and induced sell pressure on the equity sector of the Nigerian Stock Exchange as stock market investors lost N257 billion or 2.2 per cent at the close of transactions on Friday.
Analysts perceive there would be continued selloffs in the absence of any near-term positive trigger. They noted that the tense political environment would keep dampening investors’ confidence and aggravate more sell pressure.
The market capitalisation of listed equities tumbled significantly to close at N12,941 trillion from Thursday’s N13,228 trillion. The All Share Index (ASI) suffered the same fate, losing 786.19 points from 36,232.47 to 35.446.47. in the political field has started monstrous dumping and instigated offer weight on the value part of the Nigerian Stock Exchange as securities exchange financial specialists lost N257 billion or 2.2 for each penny at the end of exchanges on Friday.
Investigators see there would be proceeded with selloffs without any close term positive trigger. They noticed that the strained political condition would continue hosing financial specialists’ certainty and exasperate more offer weight.
The market capitalisation of recorded values tumbled essentially to close at N12,941 trillion from Thursday’s N13,228 trillion. The All Share Index (ASI) endured a similar destiny, losing 786.19 focuses from 36,232.47 to 35.446.47.