Nigerian Stock Exchange Witnesses Slump
According to the recent developments in the stock market, it has been revealed that there has been a decline seen in the equities of the Nigerian Stock Exchange. It seems to have been a drop of 1.38% and has ended at 20, 255.02 points. This is much lower than the 20,507.18 points it had been a day before that.
There was a huge speculative eye on the market and a lot was being said about the declining conditions of the market being a result of the overall shift in the world economy due to the crisis situations in the Eurozone and in the United States.
The market capitalization also saw a bit of a downfall, ending at N6.449trillion whereas it had been N6.539trillion, a day earlier. There was a drop witnessed in the Food and Beverages index of the NSE as well, and it moved to 641.98 points from the fairer 653.13 points it was earlier.
It was merely the NSE Insurance that seemed to e on the road upwards. It saw a relative increase, from the 143.64 points it had been, to 144.25 points
In the recent fluctuations seen in the world market, some sectors are benefitting, whereas some are witnessing a slump. It is matter of time to see what the final outcome of these developments is.
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