Desperate brokers dump shares

Stockbrokers are reportedly becoming increasingly desperate with the near stalemate of transaction activities on the floor of the Nigerian Stock Exchange. It is said that increasing state of illiquidity in the market is telling on the lifestyles and operations of most stock brokers and their firms. In desperation many of the brokers are selling off stocks in their portfolio to keep a marginal liquidity position.

Market experts, however, argued that this desperate dumping of stocks by operators would further aggravate the bearish situation in the market because as more shares are dumped on the market the more shares prices head southward.

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