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Market capitalisation declined by N257 billion, from N156.880 trillion at the opening to N156.623 trillion at the close.
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The NGX All-Share Index fell by 398.18 points, from 243,017.38 to 242,619.20.
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Market breadth remained negative, with 21 gainers against 30 decliners as investors maintained a cautious stance.
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The Nigerian Exchange (NGX) closed Friday’s session lower as continued selling pressure across several counters dragged the market further into negative territory.
August 14, (THEWILL) — Market capitalisation, which opened at N156.880 trillion, declined to N156.623 trillion at the close, while the NGX All-Share Index (ASI) fell from 243,017.38 to 242,619.20.
The session recorded 21 gainers and 30 decliners, extending the market’s run of weak breadth.
Top Five Gainers
- International Energy Insurance led the gainers’ chart, appreciating by 9.92 percent (N4.84 to N5.32).
- Trans-Nationwide Express followed with a 9.65 percent gain (N2.59 to N2.84).
- Guinea Insurance rose by 6.67 percent (N0.75 to N0.80).
- Regency Alliance Insurance gained 6.25 percent (N0.80 to N0.85).
- Japaul Gold appreciated by 5.36 percent (N2.80 to N2.95).
Top Five Decliners
- FTG Insurance recorded the steepest decline, falling by 9.31 percent (N2.90 to N2.63).
- Omatek Industries followed with a 9.04 percent decline (N1.66 to N1.51).
- While John Holt shed 9.00 percent (N10.00 to N9.10).
- RT Briscoe declined by 7.94 percent (N12.60 to N11.60).
- Dangote Sugar Refinery fell by 7.79 percent (N70.00 to N64.55).
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Dangote Cement, Okomu Oil Palm, Presco Plc, Custodian Investment, U.A.C.N Plc, Julius Berger, UPDC Plc, amongst others, closed flat for the day.
Investor sentiment remained cautious as decliners continued to outnumber gainers, although the relatively moderate decline in the benchmark suggests that the session’s weakness was less severe than the previous trading day.
The continued strength of selected insurance and other smaller counters provided some support, but gains were insufficient to offset declines across several stocks.
The market is likely to enter the next trading session with investors remaining selective following another week of pressure on equities.
The persistence of negative breadth suggests that investors may continue to favour defensive positioning while monitoring opportunities in stocks that have experienced significant corrections.
The performance of heavyweight counters will also remain important in determining whether the market can stabilise after the recent sell-off.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
