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Stock Market Investors Lost N517bn In 12 Days To 2019 Elections - TheCityPulseNews.com
The investors in the Nigerian Stock Exchange (NSE) lost N289bn after the presidential and National Assembly elections, and N228bn in two days after the governorship and House of Assembly polls. The losses are attributed to the perceptions in certain quarters that the elections were not free and fair and oppositions’ resolve not to accept some of the results. Losses on the Nigerian Stock Exchange extended into the fifth consecutive trading session on Tuesday as the All Share Index declined by 1.02 per cent, dragging the year-to-date return to -0.4 per cent. The market capitalisation of equities listed on the floor of the NSE dropped from N11.998tn on Tuesday last week to N11.978tn on Wednesday and N11.937tn on Thursday. On Friday, the market capitalisation dropped further to N11.905tn. The bearish sentiment persisted as the market opened this week on a bearish note, recording a loss of N108bn on Monday and a further N120bn on Tuesday to close at N11.677tn. The market recorded positive performance in the first 24 minutes of trading on Tuesday, after which it started to decline at 10:43 am. The biggest decline for that day was recorded at 12:37 pm, shedding 102.6 basis points in two minutes. At …