Nigeria’s stock market is losing steam after months of strong gains, with renewed selling pressure dragging the NGX All-Share Index down 0.12% to 144,986.51 points. The market has shed more than ₦7 trillion in November, though it remains up roughly 41% year-to-date.

The slowdown is driven by profit-taking and investor concerns over proposed capital gains tax reforms that could raise rates to 25–30% for large gains. Major banking and blue-chip stocks including Zenith Bank, UBA, MTN Nigeria, and Dangote Cement have been among the most affected.

The sell-off intensified on November 11 when the market fell 5.01% in one session, wiping out about ₦4.6 trillion in value.

Analysts say the pullback could be a healthy correction after a prolonged rally but note that policy clarity and FX stability will be crucial for restoring investor confidence. Visit www.jocomms.com for more news.