Investors in the Nigerian Stock Exchange lost N545 billion in trading activities in July.
Equity market operators attributed the loss to investors’ fear over the inconsistent economic policies of both the Federal Government and the Central Bank of Nigeria.
“The market has been witnessing a slide in the last few months and that has been a major concern for both investors and operators. It appears the FG does not have a clear blueprint to revive the economy at hand and the inconsistencies are enough to erode investors’ confidence,” a market operator said.
The market capitalisation, which represents total value of stock market transactions, dropped from N10.165 trillion as at end of June 2016 to N9.620 trillion by the end July.
