The Nigerian Stock market saw a decline in value by 1.1 percent in the last two trading sessions, leaving the market relying heavily on the investment of reluctant investors, who appear to be losing confidence.
The fall on Monday and Tuesday amounted to a N105billion loss to investors’ capital assets. The week had started with a N78billion loss on Monday, and a further loss of N27billion on Tuesday.
As a result, the Nigerian Stock Exchange All-Share Index (ASI) closed lower at 27,555.31 basis points from 27,861.03 points at the beginning of the week, while market capitalisation has also stooped lower to N9.465 trillion from N9.570 trillion at the commencement of weekly trading.
At the close of yesterday’s session, 27 losing stocks emerged against 13 gaining counterparts and five others that closed with unchanged prices.