The month of July has come and gone and most be investors must be reeling. Out of a total of 21 days of trading Nigerian All Share Index only Posted gains just twice. That was on the 16th and 21st of July and both days came before and after the Sallah break.
The All Share Index closed 9.79% at the end of the Month with all sectors basically posting negative losses. About N874 billion was wiped out of the stock market this month alone making it one of the worst month for stocks this year.
Why was it this bad?
- Fear of a devaluation
- Depreciation of the Naira
- Lack of economic direction from the Government
- Greek Crisis
- Poor results being released by companies
- Economic situation in the country
- Weak consumer demand