The local equities market experienced a sharp pullback after days of consistent gains. Consequently, the NGX market capitalization profit-taking drove total equity values down by N1.17 trillion in a single trading session. Major Telco and Bank Lead NGX Market Capitalization Profit TakingThe downturn was primarily sparked by intense sell-offs in market heavyweights. Backstory Behind the Recent Market SlideTo understand this sudden drop, one must examine the market’s recent performance. Total trading volume jumped by over 240%, with investors exchanging 3.91 billion shares worth N32.38 billion across 45,608 individual deals.