June 17, (THEWILL) — Nigeria’s equities market closed lower on Wednesday as sustained sell pressure across major counters extended the market’s losing streak, dragging both the benchmark index and market capitalisation further into negative territory.
The market capitalisation declined by N758 billion to close at N154.445 trillion, down from N155.203 trillion at the start of trading.
Similarly, the All-Share Index (ASI) shed 1,182.08 points to close at 240,802.72, compared with its opening level of 241,984.80.
Investor sentiment remained firmly bearish, with market breadth closing negative at 13 gainers against 51 losers, underscoring widespread profit-taking and risk-off trading across the market.
Top 5 Gainers
1. NEIMETH advanced 9.47 percent (to close at N9.25 from N8.45).
2. CORNERST gained 9.26 percent (to close at N5.90 from N5.40).
3. VFDGROUP appreciated 7.96 percent (to close at N10.85 from N10.05).
4. MCNICHOLS rose 7.14 percent (to close at N7.50 from N7.00).
5. SUNUASSUR added 3.91 percent (to close at N3.72 from N3.58).
Top 5 Decliners
1. LEARNAFRCA fell 10.00 percent (to close at N8.10 from N9.00).
2. LIVESTOCK shed 9.95 percent (to close at N8.60 from N9.55).
3. FTNCOCOA declined 9.94 percent (to close at N8.07 from N8.96).
4. ELLAHLAKES lost 9.92 percent (to close at N9.17 from N10.18).
5. ACADEMY dropped 9.87 percent (to close at N7.40 from N8.21).
Meanwhile, heavyweight stocks including Dangote Cement Plc, Presco Plc, UACN Plc, Julius Berger Plc, and Golden Guinea Brewery Plc closed flat, helping to cushion the broader market decline.
The overwhelmingly negative breadth highlights weak investor appetite during the session, as declining stocks outnumbered gainers by a wide margin.
The selloff suggests investors continued to lock in profits and reduce exposure amid prevailing market uncertainties.
Market sentiment is expected to remain cautious in the near term, with investors likely to focus on fundamentally strong stocks and dividend-paying counters.
However, bargain hunting may begin to emerge if recent price corrections create attractive entry opportunities.
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.
