Association for the Advancement of Rights of Nigerian Shareholders

Nigerian stocks closed the first half down with average loss of 8.80 per cent, equivalent to net capital depreciation of N1.14 trillion as investors struggled with a threesome of domestic macroeconomic uncertainties, global decline in crude oil price and trade wars and the ravaging COVID-19 pandemic. Benchmark indices at the Nigerian Stock Exchange (NSE), which are generally regarded as sovereign equity indices for Nigeria, showed that Nigerian stocks swiveled through steep decline in first quarter and a major recovery in early months of the second quarter, closing the six-month period with net loss of N1.14 trillion. The All Share Index (ASI), a common value-based index that tracks all share prices at the Exchange, closed first half at 24,479.22 points as against 26,842.07 points recorded...