The equities on the Nigerian Stock Exchange (NSE) shed cumulative value of N1.02 trillion in the last eight months, due to a largely bearish profile of trading during the period.
The investors’ wealth depreciation saga came despite strategies, strict regulatory framework and reforms introduced by the regulators to reposition the market for growth and development, as well as increase the dividend yields of shares to investors in the last eight months.
The long reign of bears has become a cause for concern to both retail and foreign investors. For retail investors the continuous depreciation in stock prices has become a justification for their apathy to investing in the stock market.
The foreign investors, which constitute over 50 per cent of participants in the Nigerian stock market, are holding on to their investments, while a few of them with high risk appetite were simply engaged in speculative trading.
Reacting to the performance, the former President, Chartered Institute of Stockbrokers, Ariyo Olusekun attributed the lull to the uncertainties that shrouded the market currently, due to lack of necessary policy statements.
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