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Market closes lower: ASI fell 0.29 percent to 239,351.16, while market cap declined by ₦444bn to ₦154.533tn.
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Negative breadth: 26 stocks declined against 22 gainers, reflecting cautious investor sentiment.
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RT Briscoe leads gains: The stock rose 9.63 percent, while International Energy Insurance led decliners with a 10 percent loss.
August 21, (THEWILL) — The Nigerian equities market closed the week on a negative note on Friday as selling pressure across several stocks dragged the benchmark index and overall market capitalisation lower.
The All-Share Index (ASI) declined by 686.64 points, or 0.29 percent, from its opening level of 240,037.80 to close at 239,351.16. Similarly, the equities market capitalisation fell by ₦444 billion, from ₦154.977 trillion at the opening of trading to ₦154.533 trillion at the close.
Market breadth was negative, with 22 stocks recording price gains against 26 decliners, reflecting cautious sentiment among investors at the end of the trading week.
The top gainers include:
- RT Briscoe led the gainers’ chart, rising by 9.63 percent (from ₦10.90 to ₦11.95).
- FTG Insurance followed with an 8.11 percent gain (advancing from ₦1.85 to ₦2.00).
- Trans-Nationwide Express appreciated by 7.84 percent (from ₦3.06 to ₦3.30).
- Meyer gained 5.98 percent (moving from ₦15.05 to ₦15.95).
- Aradel Holdings rounded off the top five gainers with a 5.71 percent increase (rising from ₦1,300.00 to ₦1,374.20).
On the decliners’ side
- International Energy Insurance recorded the steepest loss, shedding 10.00 percent (to close at ₦3.87 from ₦4.30).
- Omatek Ventures followed with a 9.55 percent decline, falling from ₦1.57 to ₦1.42.
- McNichols dropped by 6.73 percent (from ₦5.20 to ₦4.85).
- UPDC declined by 5.63 percent (from ₦3.55 to ₦3.35).
- WAPIC Insurance completed the top five decliners, falling by 5.45 percent (from ₦2.20 to ₦2.08).
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Despite the broader weakness, a number of major stocks closed unchanged during the session. Dangote Cement, Seplat Energy, Livestock Feeds, Julius Berger and Golden Guinea Brewery were among the stocks that ended the day flat.
The negative close indicates a relatively cautious trading environment, with the number of declining stocks outweighing gainers and the market’s key performance indicators ending below their opening levels. The session’s performance leaves investors watching for signs of renewed buying interest as the market heads into the next trading week.
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.
