Nigerian Stock Market loses N370bn on Tuesday

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Nigerian Stock Exchange

The Nigerian Stock Exchange (NSE) on Tuesday sustained seven-day falling streak with the market capitalisation shedding N370 billion in one day.

The News Agency of Nigeria (NAN) reports that the market capitalisation lost N370 billion or 2.41 per cent to close at N14.967 trillion against N15.337 trillion achieved on Monday.

Similarly, the All-Share Index which opened at 42,737.89 lost 1,029.74 points or 2.41 per cent to close at 41,708.15 following huge losses by some highly capitalised stocks.

Some financial experts in an interview with NAN attributed the persistent loss to decline in global stock markets, especially in the U.S. and Europe, contributed to the bearish trend in the market.

Dr Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa…



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