Markets are not having the best Father Christmas gifts. United States market gloom over the partial government shutdown—the Dow Jones saw its worst week since 2008, with the selloff deepening on Monday—sent Japan’s Nikkei into bear territory on Tuesday, while China’s markets also closed lower, Quartz summarizes. In Nigeria, the trajectory has not been promising. Some U.S. indices had recorded the worst Christmas eve trading day in history.
In Nigeria, the Nigeria Stock Market NSE reached an all time high of 45,092.83 in January of 2018 and a record low of 19,785.03 in December of 2011. Today, we are at 31,967.01.
The harmattan is here; what do you expect from Nigerian stocks as the global markets bleed? If you have stocks in the market, now is the time to develop a strategy.