Stocks market loses N1.27tr in 8 months

The Nigerian stock market has been on consistent downward mood in the last few months, in line with global investor sentiment and uncertainty of new government policy.

The bears dominated trades between April till today by N1.270 trillion bringing the year to date return to -11.06 per cent with the market capitalization closing at N10.208 trillion from N11.478 trillion it opened the year.

In the same vein, the All Share Index also dipped between January and August with 4,972.31 basis points from 34,657.15 point it open the year to end August with 29,684.84 points.

At the end of August, investment value decline by N136 billion representing 1.31 per cent while the index point dropped by 495.43 points translating to 1.64 per cent.

Meanwhile ,the Nigerian capital market performed better in August when compared with what it lost in July.

The market fell by a total of N1.076 trillion on the backdrop severe macro economy that signaled huge sell-off most especially from the foreign investors in July.

Specifically, the market capitalisation of the NSE, which measures the total value of the outstanding shares on the market, dropped by 9.4 per cent to N10.345 trillion as at July 31 from N11.421 trillion it opened in the month under consideration.