Nigerian equity markets suffered a severe correction, with the SWOOT index shedding N11.97 trillion in value as profit-taking and foreign exchange pressures triggered a broad sell-off.
The decline marks a significant erosion of market capitalization, driven by growing risk aversion among both domestic and foreign investors.
7 points during that period, signaling the start of a broader downturn that has now accelerated.
The sell-off reflects a deepening correction that has persisted through the start of July.
Earlier in the month, the market opened with a sharp decline, shedding N2.39 trillion in a single session as selling pressure weighed heavily on sentiment.
The All-Share Index dropped 3.7 points during that period, signaling the start of a broader downturn that has now accelerated.
Currency volatility remains a key driver of the instability.