The Nigerian Exchange (NGX) went on a turbo-charged run in July, rallying more than 22 percent between July 1 and August 7. By that day, the All-Share Index had stormed to a record 146,570.71 points, a peak that seemed to defy gravity.
But markets rarely stay euphoric for long. The rally quickly unraveled as profit-taking swept through the bourse, wiping out about N3.95 trillion in market capitalization between August 7 and 21. The initial surge was powered by stocks that dazzled investors with strong half-year earnings, sending their share
