May 14, (THEWILL) — The Nigerian equities market closed slightly lower on Thursday as mild profit-taking in several mid-cap stocks offset gains recorded in select counters, leaving key market indicators marginally weaker at the close of trading.
Market capitalisation declined from ₦161.839 trillion at the opening of the session to ₦161.669 trillion, reflecting a loss of ₦170 billion. Similarly, the All-Share Index (ASI) eased from 252,508.19 points to 252,243.11 points, indicating a modest decline during the trading session.
Market breadth remained positive despite the dip, with 37 equities advancing compared with 28 decliners, suggesting that gains were spread across more counters even as selling pressure in some previously strong performers weighed on the broader index.
Top Gainers
LEARNAFRCA rose by 10.00 percent, (moving from ₦9.00 to ₦9.90).
FIDSON gained 9.97 percent, (increasing from ₦113.30 to ₦124.60).
AUSTINLAZ advanced by 9.95 percent, (from ₦3.72 to ₦4.09).
Berger Paints Nigeria appreciated by 9.92 percent, (climbing from ₦140.10 to ₦154.00).
DEAPCAP rose by 9.90 percent, (from ₦5.25 to ₦5.77).
Top Decliners
ZICHIS fell by 9.99 percent, (declining from ₦36.32 to ₦32.69).
FTNCOCOA shed 9.87 percent, (moving from ₦11.04 to ₦9.95).
MEYER dropped 9.83 percent, (from ₦23.90 to ₦21.55).
RTBRISCOE declined by 9.41 percent, (falling from ₦17.00 to ₦15.40).
NEIMETH lost 7.44 percent, (easing from ₦10.75 to ₦9.95).
Investor sentiment during the session remained mixed, as pockets of bargain hunting in pharmaceutical and industrial stocks were offset by profit-taking in previously rallying mid-cap equities, particularly in agro-allied and services counters.
Market activity suggests that investors are becoming more selective, rotating between sectors while locking in gains after the recent market rally that pushed the index above the 250,000-point threshold earlier in the week.
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.
