Nigerian stocks have shed about N8.24 trillion in value since the start of June as investors locked in gains following months of strong rallies, triggering a long-anticipated market correction. The selloff has pushed the market’s capitalisation down to N152.27 trillion as of June 18 from a record N160.51 trillion at the end of May, with profit-taking across heavyweight counters accelerating the decline. Similarly, the benchmark NGX All-Share Index retreated by 12,980.55 points (around 5.18 percent), dropping below the 240,000 threshold an
Nigerian stocks have shed about N8.24 trillion in value since the start of June as investors locked in gains following months of strong rallies, triggering a long-anticipated market correction. The selloff has pushed the market’s capitalisation down to N152.27 trillion as of June 18 from a record N160.51 trillion at the end of May, with profit-taking across heavyweight counters accelerating the decline. Similarly, the benchmark NGX All-Share Index retreated by 12,980.55 points (around 5.18 percent), dropping below the 240,000 threshold an