The stock market plunged sharply, wiping out over N4.6 trillion in a single trading day, a staggering drop by any measure.
In this episode of Follow the Money, Ugodre breaks down the factors behind the N4.6 trillion market slump, the growing concerns around capital gains tax, the surge in corporate fundraising, and the latest company results influencing investor behaviour.
He explains that the Nigerian All-Share Index (ASI) closed on November 7th in negative territory, shedding 501.7 points to settle at 149,524.8, its fifth consecutive day of decline,bringing the total losses for the week to N4.6 trillion.