Home Equities Nigeria’s overdue technical correction wipes N8.24trn off stocks post-T+1
Equities

Nigeria’s overdue technical correction wipes N8.24trn off stocks post-T+1

Share


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

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



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

US STOCKS-Equities close higher as softer jobs data quiets rate-hike expectations

* Nike drops after warning on China demand weakness* ​Russell 2000 ⁠registers...

2 Insurance Stocks to Buy With Dividend Streaks Longer Than 50 Years

The big story with insurance companies is the float. Essentially, an insurance...

$1 Million in These 3 Dividend ETFs Pays About $22,000 a Year, and the Payout Has Been Rising

Quick Read $1 million split equally across SCHD, VIG, and DGRO generated...

Dell Stocks Jump 4.4% as AI Server Guide Reaches $74 Billion

This article first appeared on GuruFocus. Dell Technologies, the enterprise-computing and AI-server...