Nigerian Capital Market Lost N1.63 Trillion In January An Indication Of Crashing Economy



According the statistics from the  Nigerian Stock Exchange (NSE) showed on Thursday, the Nigerian stock market lost more than N1.63 trillion in January 2016 due to profit-taking and currency volatility.

The analysis from News Agency of Nigeria (NAN) stated that the drop represented a 16.50 per cent to close at N8.225 trillion from the N9.850 trillion in December 2015.

In addition, “the All-Share Index decreased by 4726.10 points or 16.50 per cent to close for the month at 23,916.15 against 28,642.25 posted in December. The volume of shares traded also declined by 5.67 billion shares worth N42.05 billion traded in 67,479 deals from the 7.23 billion shares valued N55.28 billion transacted in 53,414 deals in December. The decline represented 21.58 per cent,” Vanguard wrote.