Massive sell-off mode was activated as investors and speculators cut risky bets taking a cue from Nigeria’s exclusion from JP Morgan Government Bond Index – Emerging Market Series (GBI – EM). Benchmark index erased all points gained in the last two sessions as it lost 2.98% to stand at 29,454.09bps.
Every sector monitored by the exchange took a hit; they all recorded losses ranging from 194bps to 394bps. The Banking sector lost most points as fourteen (14) out of the fifteen (15) traded banking counters closed lower.
ASI-year-to-date stands at -15.01% while market capitalization added N105billion. Among the broad indices, volume and value traded appreciated by 51% and 114% respectively. At the close of today’s session, 8 stocks advanced, 46 declined while 44 remained unchanged. Top in the gainers’ chart are TRANSEXPR (N1.21), FIDSON (N3.36) and GUINNESS (N131.48) while OANDO (N10.93) FIDELITYBK (N1.43) FBNH (N6.63) led the decliners.
![[JP Morgan Exclusion] Investors Dump Nigerian Stocks In Droves….](https://nairametrics.com/wp-content/uploads/2015/09/Waste-bins.jpg)
