COVID-19: Investors Lose N2.3tr In Nigeria

Nigeria Stock Exchange: Market Indicators Drop Further

The Nigeria Stock Exchange in Lagos /NSE

The coronavirus (COVID-19) pandemic continued to hit hard on the equities sector of the Nigerian Stock Exchange (NSE) as investors lose N2.3 trillion in one month.

Concise News understands that market capitalisation of listed equities, which opened the month of March at N13.449 trillion, depreciated by N2.3 trillion to close at N11.100 trillion on Tuesday.

Also, the all-share index declined by 4,516.1 points or 21.2 per cent from 25, 816.57 to 21, 300.47 points.

First Bank’s parent company, FBN Holdings, returned 24.4 per cent, the highest from Nigeria’s top five banks, while Zenith Bank and United Bank Africa (UBA) returned 18.7 per cent and 16.8 per cent respectively.

Till date, Africa’s most populous nation has confirmed 139 cases of COVID-19.

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