Stock Market Begin July on Negative Note, Decline by N2.39tn

Stock market sustains profit taking, as investors lose N2.4trn

NGX index fell 1.7% as investors locked in N2.4 trillion profits following a 50% YtD run, the strongest emerging-market rally globally. Analysts see consolidation after strong run—institutional focus shifts to dividend quality and earnings resilience, signaling healthy market discipline rather than panic.