- The Nigerian All Share Index fell today by a whopping 2.3% to close at 29,789.59. It closed at 30,492.3 yesterday.
- Market capitalization also lost N231billion to close at N9,834,953,619,664.58
- This will be the first time since January 15, 2013 the All Share Index will be closing below 30,000 points
- It is also the first time since January 22nd 2013 it is closing below N10 trillion in market capitalization. It peaked at N14.2 trillion in July 2014
- This will be the 8th straight day of losses for the All Share Index
- The All Share Index hit a peak of 43,000 on July 16, 2014 and has been on a downward spiral since then
- The current sell-off began in October and is a combination of the effect of the fall in oil prices, devaluation of the naira, upcoming elections and market sentiments.
- Brent Crude fell below $60 per barrel yesterday, its lowest in 5 years
- No one knows for sure when this sell-off will wane
ANNOUCEMENT: Nigerian All Share Index Just Fell To It’s Lowest In 23 Months
