March 11, (THEWILL) — The Nigerian equities market closed Wednesday’s trading session on a negative note as sustained selling pressure across several counters weighed on market performance.
At the close of trading, market capitalisation declined from ₦125.857 trillion at the opening of the session to ₦125.750 trillion, representing a loss of ₦107 billion in investor value.
Similarly, the benchmark NGX All-Share Index slipped from 196,066.11 points to 195,898.54 points, reflecting continued profit-taking by investors.
Market breadth closed negative, with 40 losers against 29 gainers, underscoring the bearish tone that dominated the trading session.
Despite the broader decline, a number of stocks recorded notable gains as investors positioned in select counters across the industrial and financial services sectors.
The top gainers include:
- NGXGROUP 10.00 percent (N169.50 to N186.45).
- PREMPAINTS 9.92 percent (N17.65 to N19.40).
- OMATEK 8.95 percent (N2.57 to N2.80).
- PRESTIGE 8.39 percent (N1.55 to N1.68).
- HMCALL 6.67 percent (N3.75 to N4.00).
On the other side:
- PRESCO -10.00 percent (N2,315.40 to N2,083.90).
- UACN -9.97 percent (N115.80 to N104.25).
- MORISON -9.94 percent (N12.07 to N10.87).
- LIVINGTRUST -9.91 percent (N5.35 to N4.82).
- SCOA -9.85 percent (N27.90 to N25.15).
Meanwhile, several bellwether stocks closed the session unchanged, including Seplat Energy, MTN Nigeria Communications, Custodian Investment, Julius Berger Nigeria, DN Tyre and Rubber, Cadbury Nigeria, and Nestlé Nigeria.
Market analysts say the continued negative breadth reflects cautious investor sentiment, with market participants locking in gains in several counters following recent rallies.
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.
