What is happening on the Nigerian Stock Exchange?
What is happening on the Nigerian Stock Exchange? I mean why are the big banks losing market caps after their recent parties of record profits? First Bank Holdings, UBA, GTBank, Access and Zenith are seeing red. As that is happening, some FMCGs are not spared with Northern Nigeria Flourmills, Champion Breweries, Honeywell Flour Mill and Dangote Sugar Refinery making shareholders poorer. Indeed, the whole board is bleeding. Any other explanation apart from Naira losing value?
The low treasury bill yields have pushed money into the stock market, pushing it to outperform, relatively. Are investors expecting the government to change course?
/photo credit: nairametrics
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