Tuesday, 28 October 2008

Nigeria removes 1% trading limits

The NSE removed the 1% maximum daily downward limit on individual stocks, reverting to the previous limits of 5% maximum daily price movements. The suspension had led to a significant fall in liquidity on the exchange from US$100m per day to less than US$15m per day. Following the announcement, equity prices fell immediately by about 5% across the board.

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