Crude Oil: Nigerian capital market loses N1.63trn in January

Investors net worth on the Nigerian Stock Exchange has depreciated by 14.70 per cent for January, from 0.33 per cent growth achieved in December.
Statistics from the NSE for the period under review showed that the All-Share Index decreased by 5095.08 basis points to close the month at 29,562.07 against 34,657.15 posted in December 2014.
The Market Capitalisation dropped by N1.63 trillion to close at N9.847 trillion compared with a growth of N74 billion achieved in December, having closed at N11.478 trillion.
Also, the volume of shares declined by 32.20 per cent with an exchange of eight billion shares worth N94.87 billion traded in 85,032 deals.
This is against 11.80 billion shares valued at N129.03 billion transacted in 90,989 deals in December.
The Financial Services sector remained the toast of investors during the period, accounting for 5.81 billion shares worth N44.24 billion traded in 48,362 deals.
The Oil & Gas industry came second with an exchange of 975.14 million shares valued at N21.05 billion in 7,692 deals.
It was trailed by Consumer Goods Industry with 452.33 million shares worth N20.26 billion in 13,941 deals.
Some market operators attributed the decline in the market growth, during the period, to political uncertainties surrounding the general elections and the exit of foreign investors due to drop in crude oil price.