Following the uncertainties surrounding the currency situation in the Nigerian interbank market, the Nigerian Stock Exchange (NSE) is presently undergoing a downturn.
It was learnt that the stock exchange peaked at a 2016-high of N10.04 trillion, on Friday after the new foreign exchange regime was introduced. This recorded the fresh votes of investors to about N760 billion into the capital market in 48 hours.
The NSE on Monday unveiled a positive note which led to the rise of the capitalisation to over N10.07 trillion.
As a result of the uncertainty surrounding naira, it opened at 253 to the dollar at the start of business on Monday, and fell to 264 in a few hours stocks began to sink.
As at 12:47pm on Monday, the market capitalisation sunk below the N10 trillion mark to N9.986 trillion.