Insecurity in the country and other socioeconomic difficulties, combined with global economic uncertainties, might continue to wreak havoc on the Nigerian Exchange Limited (NGX), with investors losing N796 billion in May and possibly more this month.
In particular, the market capitalization of listed stocks, which began the month of May at N20.830 trillion, fell by N720 trillion to N20.034 trillion on May 31, 2021.
The All-Share index fell by 1,363.9 points, or 3.5%, from 39,801.78 to 38,4437.88 points.
Despite good profit and dividend announcements from listed firms, the market capitalization value has declined.
Foreign investors withdrew N30.79 billion in January, N39.05 billion in February, and N20.28 billion in March 2021, according to the Nigerian Exchange Limited (NGX), while local investors withdrew N86.35 billion in January, N69.28 billion in February, and N93.31 billion in March 2021.