Stocks Plunge by N503billion in Three Consecutive Trading Days

The new year started on a bad note for investors in Nigerian stock market as transactions on the bourse remain in the negative one for three consecutive trading day.

Equities had in the last three days traveled south with N503 billion declined in stocks values.

Market losses of N94 billion on Monday continued on Tuesday with N92 billion dropped, while it depreciated by N317 billion yesterday as a result of massive sell-off in big capitalized stocks such as Dangote Cement Plc, Oando Plc, Zenith Bank Plc, FBN Holdings and Tiger Brands Consumer Goods.

At the end of Wednesday, January 6 trading, the equities market closed on a negative note, as NSE All Share Index depreciated by 3.28 per cent to close at 27,180.76 basis points, compared with the 0.95 per cent depreciation recorded previously.