The stock market ended last month in a full reverse mode, losing N1.38 trillion as investors’ preference shifted to the fixed income market in response to an 186 per cent increase in yields on treasury bills.
Financial Vanguard analysis showed that average yields on primary market treasury bills (TBs) rose to 3.67 percent at the end of February from 1.28 per cent in January. This translated to 186 per cent increase.
stock-market-in-reverse-mode-loses-n1-36trn-in-february/Consequently, the stock market was dominated by sell pressures for most part of February, prompting the market capitalisation of all listed equities to fall by N1.364 trillion or 6.15 percent to N20.823 trillion at end of the month from N22.187 trillion at end of January. stock-market-in-reverse-mode-loses-n1-36trn-in-february/Similarly, the benchmark All Share Index (ASI) fell by 6.16 per cent to 39,799.86 points from 42,412.66 points in January, indicating a 6.16 percent .stock-market-in-reverse-mode-loses-n1-36trn-in-february/