NGX opens July in the red as profit-taking wipes N2.39tn off market value

Nigeria’s equities market opened trading for July on a bearish note, with investors losing N2.39 trillion as fresh profit-taking in medium and large-cap stocks dragged key market indicators lower on the Nigerian Exchange Limited (NGX).

At the close of trading on Wednesday, the NGX All-Share Index (ASI), fell by 3,729.11 basis points, or 1.63 per cent, to close at 225,690.07 points, down from…