April 27, (THEWILL) — The Nigerian equities market began the week on a negative note as sustained sell pressure, particularly in banking stocks, dragged key market indicators lower.
Data from the Nigerian Exchange (NGX) showed that market capitalisation declined by ₦1.37 trillion, falling from ₦145.33 trillion at the opening of Monday’s session to ₦143.97 trillion at the close. Similarly, the All-Share Index (ASI) slipped by 2,120.20 points, closing at 223,602.29 points from an opening level of 225,722.49 points.
Market breadth closed negative, with 40 decliners outweighing 36 gainers, reflecting cautious investor sentiment across key sectors.
Top Gainers
Leading the gainers’ chart was Abbey Mortgage Bank, which advanced by 9.26 percent, (rising from ₦5.40 to ₦5.90).
Zichemicals followed with a 8.91 percent gain, (moving from ₦15.60 to ₦16.99).
Shares of Wema Bank climbed 8.80 percent, (increasing from ₦31.25 to ₦34.00).
NPF Microfinance Bank gained 8.19 percent, (rising from ₦5.25 to ₦5.68).
Wapic Insurance completed the top five gainers with a 7.26 percent increase, (moving from ₦2.48 to ₦2.66).
Top Decliners
On the losing side, First Holdco led the decliners with a 10.00 percent drop, (falling from ₦75.00 to ₦67.50).
Trans-Nationwide Express also declined by 10.00 percent, (sliding from ₦7.90 to ₦7.11).
Shares of United Bank for Africa lost 10.00 percent, (dropping from ₦55.00 to ₦49.50).
Access Holdings fell 9.90 percent (from ₦31.30 to ₦28.20).
Fidelity Bank rounded out the top losers with a 9.87 percent decline, (slipping from ₦22.30 to ₦20.10).
Several large-cap stocks ended the session unchanged, including Seplat Energy, Julius Berger Nigeria, Okomu Oil Palm Company, John Holt Plc, Champion Breweries and BUA Foods.
The session reflected cautious investor positioning, with profit-taking in major banking stocks outweighing gains in select mid- and small-cap counters. Market participants appear to be reassessing valuations after the recent rally, while waiting for fresh catalysts that could restore bullish momentum in the coming sessions.
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.
