Investors in the various companies quoted on the Nigerian Stock Exchange, NSE, lost a staggering N141 billion in the month of August as value of stocks depreciated.
The Nigerian equity market ended the month of August on a negative note as unimpressive half year, 2016 earnings releases as well as attractive yields in the fixed income market further dampened investors’ appetite for equities, stock market analysts noted that the.
A review of the equity market performance under the period showed that market capitalisation dropped by N141 billion from N9.620 trillion it opened in August to close at N9.479 trillion at the end of August 2016.
Also, the All Share Index, opened in August at 28,009.93 basis points, depreciated by 1.47 per cent or 410.90 basis points to close the month under review at 27,599.03 basis points.
Also investors traded N6.376 billion of shares valued at N58.856 billion in August, while market breadth was negative for the month, with 20 gainers versus 59 losers.
