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Market capitalisation declined by N516 billion to N159.151 trillion, while the All-Share Index fell by 0.32 percent to 245,116.49.
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Market breadth was negative, with 18 gainers against 37 decliners.
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LivingTrust Mortgage Bank led the gainers, rising by 9.90 percent, while CWG topped the decliners, shedding 9.98 percent.
October 21, (THEWILL) – The Nigerian equities market closed lower on Wednesday, as market capitalisation declined by N516 billion to N159.151 trillion from an opening value of N159.667 trillion.
Similarly, the All-Share Index (ASI) fell by 794.64 points, opening at 245,911.13 and closing at 245,116.49, representing a 0.32 percent decline.
Market breadth was negative, with 18 gainers against 37 decliners, indicating increased selling pressure across the market.
Top Gainers
- LivingTrust Mortgage Bank led the gainers’ chart, appreciating by 9.90 percent (N2.93 to N3.22),
- ABC Transport followed, gaining 9.77 percent (N6.65 to N7.30).
- Meyer rose by 9.72 percent (N15.95 to N17.50).
- Livestock Feeds advanced by 9.65 percent (N17.10 to N18.75).
- Caverton Offshore Support Group gained 6.67 percent (N4.50 to N4.80).
Top Decliners
- CWG led the decliners, shedding 9.98 percent (N20.05 to N18.05)
- Followed by UPDC Real Estate Investment Trust, which fell by 9.93 percent (N21.15 to N19.05).
- Austin Laz declined by 9.92 percent (N3.53 to N3.18).
- Neimeth International Pharmaceuticals lost 9.52 percent (N8.40 to N7.60).
- Custodian Investment shed 7.57 percent (N70.00 to N64.70).
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Meanwhile, Dangote Cement, Seplat Energy, John Holt, Chapel Hill Denham, Julius Berger and UPDC, among others, closed flat.
The market’s decline reversed Tuesday’s recovery, with losses in market capitalisation and the benchmark index reflecting renewed selling pressure. The higher number of declining stocks also points to weaker investor sentiment across the market.
Investors will likely monitor market breadth and the performance of major stocks in the next session for signs of stabilisation. Continued selling pressure could weigh on the market, while renewed buying interest may help the benchmark index recover some of its 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.
