Weekly Round Up: Nigerian Stocks Tank In First Week of The Year As Election Fever Grips Investors

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Nigerian stocks opened 2015 in a bad fashion dropping 5 days straight to close 13.03% down, one of its worst starts of the year ever. To make things worse, all the major sub indexes fell by double digits except for the Insurance Index which lost just 2.45%. The Index was dragged back by mostly large cap stocks which saw significant price losses during the week. Nigerian stocks also notoriously recorded the worst week for stocks exchanges around the world a sign that the impending elections is negatively affecting the stock market. These were some of the top losers this week;

Guinness –  Open 168| Close 130.21| %age Change (-22.56%)

Dangote Cement -Open N200| Close 158.65| %age Change (-20.68%)

Access Bank – Open N6| Close N5.25| %age Change (-20.45%)

Seplat –  Open 371.01| Close N300| %age Change ( -19.14%)

GTB – Open N25.18| Close N20.54| %age Change (-18.43%)