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Market capitalisation declined by ₦1.469 trillion to ₦159.256 trillion as the All-Share Index fell by 0.91 percent to 245,278.34.
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Market breadth was negative, with 15 gainers against 40 decliners.
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Multi-Trex Integrated Foods led the gainers, advancing by 10.00 percent, while Vitafoam Nigeria topped the decliners, shedding 10.00 percent.
October 20, (THEWILL) – The Nigerian equities market opened the week on a negative note on Monday, as market capitalisation declined by ₦1.469 trillion to close at ₦159.256 trillion from an opening value of ₦160.725 trillion.
Similarly, the All-Share Index (ASI) fell by 2,261.39 points, opening at 247,539.73 and closing at 245,278.34, representing a 0.91 percent decline.
Market breadth was negative, with 15 gainers against 40 decliners, indicating sustained selling pressure across the market.
Top Gainers
- Multi-Trex Integrated Foods led the gainers’ chart, advancing by 10.00 percent (₦0.60 to ₦0.66),
- Consolidated Hallmark Insurance, which gained 9.97 percent (₦3.31 to ₦3.64).
- Austin Laz rose by 9.93 percent (₦2.92 to ₦3.21).
- Thomas Wyatt appreciated by 9.92 percent (₦2.42 to ₦2.66).
- Neimeth International Pharmaceuticals gained 5.88 percent (₦7.65 to ₦8.10).
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Top Decliners
- Vitafoam Nigeria led the decliners, shedding 10.00 percent (₦194.00 to ₦174.60).
- Cutix, which fell by 9.79 percent (₦2.35 to ₦2.12).
- Omatek declined by 9.38 percent (₦1.60 to ₦1.45).
- International Energy Insurance lost 6.48 percent (₦2.16 to ₦2.02).
- Linkage Assurance shed 6.29 percent (₦1.75 to ₦1.64).
Meanwhile, MTN Nigeria Communications, Seplat Energy, Presco, John Holt, Julius Berger and Champion Breweries, among others, closed flat.
The market’s negative opening for the week reflects significant selling pressure, with 40 stocks declining against 15 gainers. The substantial drop in market capitalisation and the ASI suggests that losses in selected stocks weighed on overall performance.
Investors will likely monitor market breadth and activity in major stocks in the next session for signs of stabilisation. Continued selling pressure could extend the market’s decline, while renewed buying interest may help moderate losses.
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.
