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Nigeria Update: Investors lose N257 billion amid election fears, insecurity

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Nigeria Update: Investors lose N257 billion amid election fears, insecurity

The lingering political uncertainties surrounding Nigeria’s 2019 general election have continued to spur sell pressures and volatility on the equity sector of the Nigerian Stock Exchange (NSE), as investors lost N257 billion in the month of October.

Indeed, a breakdown of market activities last month, showed that the NSE composite All-Share Index, which started the month of October on a downtrend, surprisingly, reversed up at midmonth, as Q3 corporate earnings trickled in.

But the scorecards, which came, mostly below market forecast, coupled with the continued hike in interest rate in the developed economies, as well as the lingering political uncertainties in Nigeria, heightened the weak economic fundamentals and negative sentiments, even as investors adopt a wait and see strategy.

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