May 26 (THEWILL) — The Nigerian Exchange closed lower on Tuesday, as renewed profit-taking in key counters dragged market performance into negative territory, reversing part of the gains recorded at the start of the week.
Market capitalisation declined by ₦888 billion to close at ₦160.094 trillion from ₦160.982 trillion recorded in the previous session, while the All-Share Index (ASI) fell by 1,386.18 basis points to settle at 249,738.84 from 251,125.02.
Market breadth closed negative with 38 losers against 19 gainers, reflecting cautious investor sentiment across the equities market.
Top Gainers
FG212035S1 gained 10.49 percent, (rising from ₦113.00 to ₦124.86).
Austin Laz & Company Plc appreciated by 10.00 percent (from ₦4.00 to ₦4.40).
McNichols Plc advanced by 10.00 percent (from ₦7.20 to ₦7.92).
International Energy Insurance Plc (rose by 9.89 percent from ₦3.74 to ₦4.11).
Learn Africa Plc gained 9.44 percent (from ₦11.65 to ₦12.75).
Top Decliners
Dangote Sugar Refinery Plc shed 10.00 percent, (declining from ₦87.00 to ₦78.30).
Transcorp Power Plc fell by 9.97 percent (from ₦272.70 to ₦245.50).
The Initiates Plc lost 9.85 percent (from ₦30.45 to ₦27.45).
Abbey Mortgage Bank Plc declined by 9.49 percent (from ₦6.85 to ₦6.20).
Fidelity Bank Plc dropped 9.05 percent (from ₦23.75 to ₦21.60).
Meanwhile, heavyweight counters, including MTN Nigeria Communications Plc, Dangote Cement Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, Champion Breweries Plc and Guinness Nigeria Plc, closed flat.
Analysts said the bearish outing reflected sustained profit-taking pressure and cautious positioning by investors amid ongoing portfolio rebalancing activities.
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.
