May 20, (THEWILL) — Nigeria’s equities market closed in negative territory on Wednesday as losses in major bellwether stocks outweighed gains recorded across several mid- and small-cap counters.
At the close of trading on the Nigerian Exchange Limited, market capitalisation declined from ₦161.279 trillion at the opening of the session to ₦159.660 trillion, representing a loss of ₦1.619 trillion.
Similarly, the NGX All-Share Index fell from 251,635.42 points to 249,062.37 points, reflecting sustained selloffs in key large-cap equities.
Despite the market downturn, investor appetite remained relatively strong as the session recorded 41 gainers against 25 losers, indicating broad-based buying activity across several sectors.
Pricing Movement
Gainers
Leading the gainers’ chart was ABC Transport Plc, which appreciated by 9.99 percent, (rising from ₦7.51 to ₦8.26).
Also on the advancers’ list was Zichis Agro-Allied Industries Plc, which gained 9.99 percent (to close at ₦32.04 from ₦29.13).
Japaul Gold & Ventures Plc rose by 9.95 percent (from ₦3.72 to ₦4.09).
LivingTrust Mortgage Bank Plc climbed 9.92 percent (to ₦4.21 from ₦3.83).
Similarly, FTN Cocoa Processors Plc advanced by 9.91 percent, (closing at ₦10.76 from ₦9.79).
Decliners
On the losers’ chart, BUA Cement Plc led the decline, shedding 10.00 percent (from ₦460.00 to ₦414.00).
CAP Plc followed with a 9.99 percent loss, (falling from ₦233.70 to ₦210.35).
Also among the decliners was eTranzact International Plc, which dropped 7.03 percent (to ₦17.20 from ₦18.50).
International Breweries Plc lost 5.38 percent, (closing at ₦12.30 from ₦13.00).
Deep Capital Management & Trust Plc also declined by 4.92 percent, (moving from ₦6.10 to ₦5.80).
Several heavyweight equities closed flat during the session, including MTN Nigeria Communications Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, Golden Guinea Breweries Plc, Unilever Nigeria Plc, and Vitafoam Nigeria Plc.
Market sentiment remained mixed as strong buying interest in low- and mid-cap stocks contrasted with heavy selloffs in large-cap counters, particularly within the industrial goods segment.
The decline in market capitalisation despite a positive breadth reflects the outsized influence of heavyweight stocks on the broader market index.
Investors are expected to continue portfolio rebalancing in the near term as they react to corporate earnings trends, sector rotation, and evolving macroeconomic conditions.
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.
