Financial Exclusive Watch: Stock market crashes by N1.61tn under Buhari’s 2 years in office

NSE
Nigerian Stock Exchange

The Nigerian Stock Exchange a regulatory body in charge of all companies that trades in stock under the watch of the federal government of Nigeria.

It was disclosed that Nigerian stock market crashed by N1.61 trillion in just two years in office of President Buhari’s led administration of the federal government of Nigeria.

That Data based from the Nigerian Stock Exchange (NSE) reviewed that the stock market capitalisation on 28 May 2015 was on ground base of N11.658tn, while that of 26 May 2017 under President Buhari disclosed (the last day of trading in May 2017) was N10.047tn.

It was further reviewed that NSE All-Share Index also crashed to 29,064.52 basis points from 34,310.37 basis points recorded when the present federal government assumed office.

That as of May 2016 when the federal government recorded 365 days in office, over N1.732tn was lost by the stock market.

That the Nigerian stock market capitalisation on 28 May 2015 was N11.658tn, while that of 27 May 2016 was N9.926tn.

The NSE All-Share Index also crashed to 28,902.25 basis points from 34,310.37 basis points within 365 days the President Buhari took oath of office.

That local and foreign trader of stocks, investors in the Nigeria’s capital market (equity category) lost over N1.053tn in the first quarter of 2016.

The first three months of 2016, the equities market depreciated by 10.79 per cent.

As of the first day of 2016 February 4 which is the commencement day for trading, the NSE market capitalisation stood at N9.757tn, while the All-Share Index was 28,370.32 basis points.

While as of 31 March 2016 of NSE trading Q1, the market capitalisation and All-Share Index crashed to N8.704tn and 25,306.22.

Equity investors in the country’s capital market had, in the first seven trading days on the floor of the NSE in 2016, lost N804tn of their investment’s worth.

Market capitalisation after the close of trading on the floor of the Exchange on the first seven days closed at N8.953tn.

The All-Share Index also dropped from 28,370.32 basis points recoded on the first day of trading in 2016 to 26,034.94 on the seventh trading day of this year.

The market capitalisation of the NSE fell by N811bn in the first 10 weeks of trading last year.

Market capitalisation is the total market value of the shares outstanding of a publicly traded company.

It was further reviewed that the Nigerian Stock Market is currently experiencing depreciation in the global market and stands at a negative recording.

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