Oct 31 (Lagos) - Haloween day was scary one for investors in Nigerian Stock market with the All Share Index dropping by more than 2% giving up gains made last week.
At the same time the yield on the 364 day Treasury Bill surged above 14% today and the bill was massively over subscribed.
So not much thought to where the money went. It came from riskier assets to risk free T-Bills market. With higher inflation projected, elections on horizon we can expect T-bills to remain hot over then next 3-6 months.
It is the stock market investors who are reeling from the painful year they have had to endure after the unexpected rally at the beginning on the year and the subsequent crash.
reporting for easykobo.com on Wednesday, Oct 31 2019 from Lagos, Nigeria