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Stock market investors lose N656bn in one day

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Investors suffered a loss of N656bn on Tuesday as the Nigerian equity market saw its biggest daily decline in more than eight years.

The market reacted to the impact of the oil price war between Russia and Saudi Arabia and the coronavirus panic on the Nigeria economy.

The market capitalisation of equities depreciated by N656bn from N13.365tn on Monday to N12.709tn on Tuesday as market sentiment remained negative.The premium board was the most active, with 368.6 million shares traded by investors in 1,804 deals. The volume was largely driven by activities in the shares of the United Bank for Africa Plc and FBN Holdings Plc.

 

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NSE market capitalisation drops further by N656 billionThe market capitalisation which opened at N13.365 trillion lost N656 billion or 4.91 per cent to close at N12.709 trillion, the highest daily loss in four years.
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