May 07, (THEWILL) — The Nigerian equities market closed lower on Thursday as sustained sell pressure across key counters weighed on the benchmark indices despite a strong number of advancing stocks.
Market capitalisation declined from ₦155.780 trillion to ₦153.858 trillion, representing a loss of ₦1.922 trillion, while the NGX All-Share Index (ASI) fell from 242,729.51 points to 239,734.61 points.
Despite the decline in the headline indices, market breadth remained positive with 42 gainers against 30 losers, reflecting continued buying interest in select mid-cap stocks.
Price Movement
Top Gainers
1. Chemical and Allied Products Plc gained 9.99 percent, (rising from ₦193.20 to ₦212.50).
2. FTN Cocoa Processors Plc advanced 9.99 percent, (from ₦7.31 to ₦8.04).
3. Berger Paints Nigeria Plc appreciated 9.97 percent, (increasing from ₦89.80 to ₦98.75).
4. Meyer Plc rose 9.97 percent, (from ₦15.55 to ₦17.10).
5. Zichis Agro-Allied Industries Plc gained 9.97 percent, (moving from ₦27.58 to ₦30.33).
Top Decliners
1. Universal Properties Plc declined 10.00 percent, (from ₦5.00 to ₦4.50).
2. Red Star Express Plc fell 9.59 percent, (from ₦28.15 to ₦25.45).
3. Skyway Aviation Handling Company Plc dropped 8.63 percent, (declining from ₦143.10 to ₦130.75).
4. C&I Leasing Plc shed 8.50 percent, (from ₦7.65 to ₦7.00).
5. Consolidated Hallmark Holdings Plc lost 7.50 percent, (easing from ₦6.50 to ₦6.01).
Meanwhile, UACN Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, Champion Breweries Plc, Golden Guinea Breweries Plc, and Cadbury Nigeria Plc, among others, closed flat for the session.
Overall, the session reflected mixed investor sentiment, as gains in several mid-cap stocks were overshadowed by declines in key counters that dragged the broader market indices lower.
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.
