The market reached a new high following significant gains in Guinness Nigeria, Nigerian Breweries, Conoil and others.
The Nigerian equities market has lost about N8.24 trillion within just three weeks since June 1 transitioning to the T+1 settlement framework.
This happens as a wave of aggressive profit-taking and overdue technical corrections dragged market capitalisation down from its May 31 peak of N160.51 trillion to N152.27 trillion by June 18.
Leading up to the implementation of the T+1 settlement cycle, the market had enjoyed a phenomenal bull run driven by strong corporate earnings, banking recapitalisation expectations, and heavy positioning in
