February 17, (THEWILL) — The Nigerian equities market closed Tuesday’s trading session on a mildly negative note as profit-taking activities in bellwether stocks weighed on overall performance despite relatively balanced market breadth.
The market capitalisation declined from ₦122.129 trillion at the opening of the session to ₦121.552 trillion at the close. Similarly, the All-Share Index (ASI) dropped by 0.47 percent from 190,262.44 to 189,362.94, reflecting cautious investor sentiment on the floor of the Nigerian Exchange Limited.
Market breadth remained relatively stable, with 44 gainers against 40 losers, indicating continued selective buying interest across sectors even as the broader market closed lower.
The top gainers include:
ABCTRANS advanced by 9.94 percent (₦8.25 to ₦9.07).
ZICHIS 9.93 percent (₦11.88 to ₦13.06).
REDSTAREX moved up by 9.87 percent (opened at ₦26.85 and moved up to ₦29.50 by the close of the day).
MEYER 9.81 percent (from ₦20.90 to ₦22.95).
JAPAULGOLD gained 9.78 percent (moved up from ₦2.76 to ₦3.03).
On the losing side, the top stocks include:
ZENITHBANK -10.00 percent (₦89.50 to ₦80.55).
MECURE dropped by -10.00 percent (opened at ₦104.00 to ₦93.60).
SKYAVN recorded a loss of -10.00 percent (₦130.00 to ₦117.00).
RTBRISCOE fell by -9.95 percent (from ₦15.68 to ₦14.12).
TRIPPLEG -9.77 percent (₦6.65 to ₦6.00).
Unchanged stocks for the day include Okomu Oil Palm, John Holt, Julius Berger, DN Tyre and Rubber, Nigerian Enamelware, and Unity Bank.
The marginal decline recorded during the session was largely driven by selloffs in large-capitalisation banking and industrial stocks, particularly Zenith Bank, which exerted downward pressure on the benchmark index. However, sustained interest in mid-cap equities helped cushion the overall market decline.
Market sentiment remains cautiously optimistic, with investors expected to continue portfolio rebalancing while monitoring macroeconomic developments and corporate performance indicators. Short-term volatility may persist, but underlying liquidity conditions remain supportive of the equities market.
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.
