The Nigerian Exchange All-Share Index has retreated below the 250,000 psychological mark, settling at 247,736.24 points following heavy profit-taking. Monday’s session saw the index shed 627.31 points and market capitalization decline by N407.3 billion. Analysts attribute the downturn to institutional investors booking profits after a sustained rally and liquidating secondary holdings to free up cash for upcoming primary market activities, specifically the anticipated Dangote Petroleum Refinery IPO. Despite the pullback, the market maintains a year-to-date return of 59.20%. Technical indicators suggest a period of consolidation, with the index potentially testing the 240,000 support level before renewed bullish momentum can be established.