Nigerian Stocks Fall To Lowest Since January 2013…Wipes Out 47% Gained in 2013

Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /var/www/nairametrics/wp-content/themes/nairametrics/functions.php on line 104

Nigerian stocks hit another rock bottom on Thursday after stocks slid for the fourth consecutive day to close at 31,062.03 compared to 32,203.62 yesterday..  The All Share Index lost a 3.5% in another massive one day fall following the 2.2% it lost on Wednesday.  The Nigerian stock market gained Only 10 stocks gained today compared to 44 which made up the losers chart. All the major heavy weights (large caps) lost significant value today.

This by our estimates is the lowest since January 23rd 2013 when the index closed at 30,842.37 and was to be the beginning of a rally that made last year one of the best year for the Nigerian stock market. The Nigerian stock market returned 47% in 2013 and as the best in Africa. It has now effectively wiped out all those gains.

View gainers and losers list below or download a copy.

[gview file=”https://cdn.nairametrics.com/wp-content/uploads/2014/12/Gainers-and-Losers-for-11-12-2014.pdf”]