February 23, (THEWILL) — The Nigerian equities market opened the week on a cautiously mixed note, with gains and losses almost evenly matched as investors weighed profit-taking against ongoing sectoral demand.
The market witnessed moderate activity as some investors consolidated gains from last week’s rally, while others capitalized on bargain opportunities across select counters.
The market capitalisation opened at ₦125.164 trillion and closed slightly higher at ₦125.968 trillion, while the NGX All-Share Index (ASI) rose from 194,989.77 to 196,263.56 by the close of trading. Market breadth remained relatively neutral, with 35 gainers offsetting 35 losers, reflecting a balanced market sentiment.
Top Gainers
- OKOMUOIL advanced 10.00 percent (N1,459.70 to N1,605.60), continuing its strong performance from previous sessions.
- FTGINSURE gained 10.00 percent (N0.60 to N0.66), reflecting renewed investor confidence in the insurance sector.
- FG202033S6 moved up 9.91 percent (N108.38 to N119.12).
- FIDSON added 9.90 percent (N86.90 to N95.50), bolstered by strong trading activity in consumer staples.
- NPFMCRFBK appreciated 9.89 percent (N6.27 to N6.89), maintaining its upward momentum in the banking segment.
Top Losers
- TIP dipped by -10.00 percent (N19.50 to N17.55), reflecting profit-taking pressures.
- DEAPCAP fell -9.97 percent (N7.62 to N6.86), reversing some of last week’s gains.
- MULTIVERSE declined -9.92 percent (N25.20 to N22.70), amid sector rotation.
- LIVINGTRUST slipped -9.92 percent (N6.55 to N5.90).
- ELLAHLAKES fell -9.77 percent (N12.80 to N11.55), reflecting weaker demand in select mid-cap counters.
Several blue-chip stocks remained flat, indicating investor caution in high-capitalization names. Notable unchanged stocks include Dangote Cement, Presco Plc, DN Tyre and Rubber Plc, Golden Guinea Brewery, and Guinness Nigeria Plc.
Overall, the session was characterized by mixed sentiment, with gains in key sectors such as consumer goods, oil & gas, and financial services offset by sharp declines in selected counters due to profit-taking. Market watchers noted that while the broader market remains structurally bullish, pockets of volatility continue to provide both opportunities and cautionary signals for investors.
Looking ahead, market activity is expected to remain active as investors continue to digest last week’s strong rally. Sustained liquidity and selective buying in defensive and high-demand stocks may support further upside, although profit-taking may persist in highly traded equities.
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.
