It was a red week for nearly all the stocks on the Nigerian Stock Exchange as the NSE All-Share Index and Market Capitalization depreciated by 3.21% and 3.18% to close on Friday at 40,571.62 and N13.005 trillion respectively.
In fact apart from the NSE ASeM Index all of the NSE sector indices depreciated during the week. The NSE 30 depreciated by 3.89% to close at 1,845.56, NSE Consumer Goods by 3.55% to close at 1,051.15, NSE Banking by 6.20% to close at 415.61, NSE Insurance by 2.25% to close at 148.01, NSE Oil/Gas by 11.01% to close at 302.30, NSE Lotus II by 1.95% to close lower at 2,862.76 and the NSE Industrial Goods index by 2.13% to close at 2,613.56 (source: NSE).
This was surely not unconnected with the stringent CRR guideline as well as the bond tapering in the US which have affected the flow of foreign dollars into the Nigerian economy. This surely portends to be an interesting year for investing.