The Nigerian equities market closed lower at Wednesday’s midweek session, as profit-taking activities by investors erased N121 billion from the market’s value.
The All-Share Index (ASI) slipped by 191.09 points, representing a 0.13% decline, to settle at 145,864.80 points. Similarly, market capitalisation fell by N121 billion to close at N92.284 trillion.
The downturn was driven by price losses in large and mid-cap stocks such as Lafarge Africa, Nigerian Breweries, Northern Nigeria Flour Mills (NNFM), Berger Paints, and Zenith Bank.
Despite the negative close, market breadth was positive, with 53 gainers against 21 losers, indicating sustained interest from bargain hunters even in the face of profit-taking pressure.
Top gainers included FTN Cocoa Processors, Learn Africa, Prestige Assurance, R.T. Briscoe, Tripple Gee & Company, and Caverton Offshore Support Group, which all rose by 10% each to close at N6.93, N7.70, N2.42, N3.74, N5.17, and N7.92 per share, respectively. AXA Mansard Insurance gained 9.99% to close at N19.48, while Ellah Lakes and Consolidated Hallmark Holdings advanced 9.96% each to finish at N17.66 and N5.63 per share.
On the losers’ chart, Thomas Wyatt Nigeria led with a 10% drop to N3.42 per share. UPDC fell 7.94% to N8.00, Legend Internet declined 6.35% to N5.60, Berger Paints shed 6.16% to N32.00, and Champion Breweries lost 5.75% to N16.38 per share.
Market activity improved, with the total volume traded rising by 5.06% to 1.342 billion units valued at N20.215 billion across 30,749 deals. Universal Insurance topped the activity chart with 193.435 million shares worth N282.415 million. Japaul Gold and Ventures followed with 123.163 million shares valued at N389.976 million, while Veritas Kapital Assurance recorded 93.216 million shares worth N260.054 million.
Access Holdings exchanged 84.985 million shares valued at N2.347 billion, and Sterling Financial Holdings Company traded 68.202 million shares worth N552.619 million.
