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Showing posts with the label Stock Exchange

ECONOMIC FAILURE: Nigerian Stock Exchange Halt Trading

The fall in the prices of stocks at the Nigerian Stock Exchange has hit an all-time Nigerian low, necessitating the activation of the Index Circuit breaker by the NSE. This implies that on Monday 18th January, the Stock exchange did not trade.  Approved since May 19, 2014 by the Nigerian Securities and Exchange Commission, the Circuit Breaker has never before been applied in Nigeria. And that is because the economy of the nation had never before fallen this low. The Nigerian stock market lost a fearsome amount of N1.8 trillion in capitalisation within two weeks, an d N1.4 trillion in 10 days.  The market capitalisation has also depressed from N9.86 trillion at the beginning of 2016 to N8.09 trillion as at Friday 15th January. The Stock market lost 17.4% in 2015, but there has been a dip by 17.9% in January 2016. This failure situation at the Nigerian stock market has been caused by the mass exodus of foreign investors away from Nigeria, due to a well documented u