May 18, (THEWILL) — The Nigerian equities market opened the week on a marginally bearish note as mild profit-taking activity dragged key performance indicators lower on the Nigerian Exchange Limited.
Market capitalisation declined slightly from ₦160.443 trillion to ₦160.362 trillion, while the All-Share Index (ASI) eased from 250,330.92 points to 250,204.83 points, reflecting a broadly cautious trading session.
Market breadth closed negative, with 33 gainers against 36 decliners, indicating a slight tilt toward selling pressure across listed equities.
Gainers
The top gainers were led by Oando Plc, which advanced by 10.00 percent, (rising from ₦47.00 to ₦51.70).
UPL Plc followed with a 10.00 percent gain, (closing at ₦5.50 from ₦5.00).
Deap Capital Management & Trust Plc appreciated by 9.96 percent (to ₦5.96 from ₦5.42).
May & Baker Nigeria Plc, which rose 9.94 percent (from ₦47.30 to ₦52.00).
Transcorp Hotels Plc gained 9.92 percent, (closing at ₦7.76 from ₦7.06).
Decliners
On the decliners’ side, NCR Nigeria Plc led the laggards, falling 9.99 percent (from ₦179.10 to ₦161.20).
Zichis Agro Allied Industries Plc declined 9.99 percent (to ₦26.49 from ₦29.43).
IMG Plc dropped 9.93 percent (to ₦38.10 from ₦42.30).
Sovereign Trust Insurance Plc, which lost 9.93 percent, (closing at ₦2.65 from ₦2.94).
Daar Communications Plc shed 9.78 percent (to ₦2.03 from ₦2.25).
Blue-chip stocks including MTN Nigeria Communications Plc, Dangote Cement Plc, Julius Berger Nigeria Plc, Guinness Nigeria Plc, and Cadbury Nigeria Plc closed flat for the session, reflecting a cautious stance among investors in heavyweight counters.
Overall, trading activity reflected a balanced but slightly negative tone, as investors continued to engage in selective positioning amid profit-taking in recent gainers and rotation into defensive plays.
Market analysts note that sentiment remains largely stable, with investors expected to monitor corporate earnings releases and macroeconomic signals for clearer directional cues in the coming sessions.
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.
