March 10, (THEWILL) — The Nigerian equities market closed Tuesday’s trading session on a negative note as sustained profit-taking across several counters pushed key performance indicators lower.
At the close of trading, market capitalisation declined from ₦126.583 trillion at the opening of the session to ₦125.857 trillion, representing a loss of about ₦726 billion in investor value.
Similarly, the benchmark NGX All-Share Index fell from 197,196.98 points to 196,066.11 points, reflecting a broad pullback in equities after the modest gains recorded in the previous session.
Market breadth closed negative, with 44 losers against 33 gainers, underscoring the bearish tone that dominated trading activities throughout the day.
Despite the overall downturn, several stocks posted notable gains as investors continued to position in select counters across oil and gas, insurance, and industrial sectors.
The top stocks on the gainers list include:
1 PREMPAINTS 9.97 percent (from N16.05 to N17.65).
2 CONOIL 9.95 percent (N185.90 to N204.40).
3 SUNUASSUR 9.95 percent (N4.32 to N4.75).
4 DAARCOMM 9.84 percent (opened at N1.83 and closed at N2.01).
5 ETERNA 9.56 percent (N46.55 to N51.00).
On the flip side, several stocks recorded sharp declines as investors locked in profits from recent rallies.
Top stocks on the losers list
1 MBENEFIT -10.00 percent (dropped from N5.10 to N4.59).
2 NASCON lost -10.00 percent (N164.00 to N147.60).
3 REDSTAREX -9.94 percent (from N31.70 to N28.55).
4 AUSTINLAZ fell by -9.88 percent (N4.15 to N3.74).
5 SCOA -9.85 percent (N30.95 to N27.90).
Meanwhile, several notable counters closed the session unchanged, including Julius Berger Nigeria, DN Tyre and Rubber, FTN Cocoa Processors, BUA Foods, and Dangote Sugar Refinery.
Market analysts note that the negative breadth suggests investors adopted a cautious stance, with selling pressure outweighing buying interest across several segments of the market.
Looking ahead, trading sentiment is expected to remain influenced by corporate earnings expectations, macroeconomic developments, and liquidity conditions in the broader financial system
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.
