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Market capitalisation fell by ₦108 billion to ₦160.725 trillion.
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The All-Share Index declined by 167.40 points to close at 247,539.73.
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Market breadth remained positive, with 26 gainers against 23 decliners.
October 16, (THEWILL) – The Nigerian equities market closed lower on Friday, shedding ₦108 billion in market value as the market capitalisation declined to ₦160.725 trillion from an opening value of ₦160.833 trillion.
Similarly, the All-Share Index (ASI) fell by 167.40 points, opening at 247,707.13 and closing at 247,539.73, reflecting a pullback in overall market performance.
Despite the decline in the benchmark index and market capitalisation, market breadth remained positive, with 26 stocks advancing against 23 decliners, indicating that gains across individual stocks outnumbered losses.
Top Gainers
- Thomas Wyatt led the gainers, appreciating by 10.00 percent (from ₦2.20 to ₦2.42).
- Etranzact International followed, rising by 9.84 percent (from ₦15.75 to ₦17.30).
- Austin Laz gained 9.77 percent (to close at ₦2.92 from ₦2.66).
- Omatek advanced by 9.59 percent (from ₦1.46 to ₦1.60).
- Legend Internet appreciated by 9.23 percent (moving from ₦3.25 to ₦3.55 per share).
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On Decliners’ Chart
- UPDC Real Estate Investment Trust led the losses, falling by 10.00 percent (from ₦23.50 to ₦21.15).
- Trans-Nationwide Express followed, shedding 9.09 percent (from ₦2.97 to ₦2.70).
- Consolidated Hallmark Insurance declined by 8.06 percent (from ₦3.60 to ₦3.31).
- Royal Exchange lost 6.48 percent (falling from ₦1.08 to ₦1.01).
- NPF Microfinance Bank declined by 5.43 percent (from ₦4.60 to ₦4.35).
Meanwhile, First HoldCo, Dangote Cement, Presco, Custodian Investment, Julius Berger and UAC of Nigeria were among the stocks highlighted in the session.
Market Outlook
The market’s decline despite positive breadth suggests that losses in selected stocks outweighed gains elsewhere in terms of their impact on the overall index and market value. The higher number of advancing stocks, however, indicates that buying interest persisted across parts of the market.
In the next trading session, investors will likely monitor whether the market can regain upward momentum, with performance depending on renewed demand for major stocks and the sustainability of gains across listed equities. Continued weakness in influential stocks could keep the benchmark under pressure, even if market breadth remains positive.
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.
