The market capitalisation of the Nigerian Stock Exchange (NSE) lost N416 billion in five trading days due to exit of foreign investors following delay in 2018 budget passage.
Market statistics obtained showed that the market capitalisation which opened trading on May 21 at N14.660 trillion shed N416 billion or 2.84 per cent to close trading on May 25 at N14.244 trillion.
Similarly, the All-Share Index within the period dipped 1,148.83 or 2.84 per cent to close trading on 39,323.62 compared with 40,472.45 it opened for the week.
Commenting on the persistent market lull, Prof. Sheriffdeen Tella, Professor of Economics, Olabisi Onabanjo University Ago-Iwoye, Ogun attributed the development, in an interview with the News Agency of Nigeria (NAN) to uncertainties in the economy which affected foreign investors confidence.
Tella said the negative trend in the…
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