January 08, (THEWILL) — The Nigerian equities market closed slightly lower on Thursday, as sustained profit-taking outweighed gains in select stocks, leading to a negative market breadth despite marginal improvements in key indicators.
Market capitalisation inched up to ₦102.822 trillion from an opening level of ₦102.684 trillion, reflecting a modest gain of ₦138 billion. Similarly, the All-Share Index (ASI) advanced by 214.80 points to close at 160,806.56, compared with 160,591.76 at the start of the session.
However, market breadth closed negative, with 32 gainers against 41 losers, indicating that selling pressure dominated trading activities across sectors.
Top Gainers
NEIMETH led the gainers’ chart, rising by 10.00 percent (from ₦7.00 to ₦7.70).
MAYBAKER followed with a 9.85 percent increase, (closing at ₦26.20 from ₦23.85).
ETRANZACT appreciated by 9.64 percent (to ₦13.65, up from ₦12.45).
MULTIVERSE gained 9.51 percent, (settling at ₦21.30 from ₦19.45).
MECURE advanced by 9.42 percent, (closing at ₦74.95 from ₦68.50).
Top Losers
INTENEGINS declined by 9.90 percent, (closing at ₦2.73 from ₦3.03).
ABCTRANS shed 9.88 percent (to ₦4.47, down from ₦4.96).
AUSTINLAZ fell by 9.84 percent, (ending the session at ₦4.58 from ₦5.08).
CONOIL dropped 9.72 percent (to ₦169.00, from ₦187.20).
VERITASKAP lost 9.69 percent, (closing at ₦1.77 from ₦1.96).
Stocks that closed flat for the day included MTN Nigeria Communications, Dangote Cement, Seplat Energy, Okomu Oil Palm, and Julius Berger.
Investor sentiment leaned cautious, as profit-taking intensified following recent market rallies. While selective buying persisted in healthcare and consumer-related stocks, the dominance of losers suggests a short-term consolidation phase. Going forward, market direction is expected to remain mixed, with investors focusing on fundamentally strong stocks and near-term earnings expectations.
Ogochukwu Onwaeze
