Kayode Ogunwale 
The Nigerian equities market closed in the red as renewed profit-taking in bellwether stocks dragged key indicators lower.
Figures from the Nigerian Exchange (NGX) showed that market capitalisation declined to N123.76 trillion from N124.24 trillion recorded on Thursday, translating to a loss of about N475 billion.
In the same vein, the All-Share Index (ASI) dropped to 192,826.78 points from 193,567.81 points. Although the overall market trend was negative, 39 equities posted gains, while 25 stocks recorded losses.
Sovereign Insurance topped the gainers’ chart with a 9.95 per cent increase, rising from N2.01 to N2.21. RT Briscoe followed with a 9.93 per cent appreciation to N12.51, while NGX Group advanced by 9.78 per cent to close at N124.00.
Ellah Lakes and Omatek each gained 9.70 per cent to settle at N13.00 and N2.60, respectively. Guineans rose 9.45 per cent to N1.39, while UPDC climbed 9.38 per cent to N5.25.
Insurance counters were also prominent among the advancers, with FTG Insurance increasing by 9.30 per cent to N0.94 and Universal Insurance rising 8.82 per cent to N1.48. Mansard added 8.24 per cent to close at N18.40.
In the consumer and industrial space, Cadbury appreciated by 6.54 per cent to N66.00, NAHCO gained 6.25 per cent to N170.00, and WAPCO rose 5.26 per cent to N200.00. Dangote Sugar advanced 2.41 per cent to N82.95, while PZ gained 2.86 per cent to close at N72.00.
Banking stocks delivered a mixed performance. UBA rose 2.95 per cent to N48.80, Zenith Bank added 2.25 per cent to N91.00, and FCMB increased by 1.83 per cent to N13.90.
Other marginal gainers included BUA Foods, up 0.30 per cent to N789.40; Wema Bank, which rose 0.19 per cent to N27.00; and Legend Internet, which edged up 0.17 per cent to N6.01.
On the downside, Mecure recorded the steepest decline, shedding 9.97 per cent to close at N75.85 from N84.25. Meyer fell 9.90 per cent to N18.65, while Daar Communications dropped 9.83 per cent to N2.11.
Champion Breweries lost 6.49 per cent to N18.00, and Dangote Cement declined 6.09 per cent to N779.00. E-Tranzact fell 4.52 per cent to N20.05, while Cutix and Wapic dipped 4.27 per cent and 4.07 per cent, respectively.
UACN declined 4.00 per cent to N96.00, while Fidelity Bank eased 1.24 per cent to N19.95. Aradel slipped 0.91 per cent to N1,084.00, and Transcorp fell 0.88 per cent to N50.55. GTCO and FirstHoldCo both recorded marginal losses of 0.09 per cent to close at N117.00 and N53.95, respectively.
Sectoral indices presented a mixed picture. The NGX Banking Index rose to 1,892.07 points from 1,877.29, while the NGX Consumer Goods Index edged higher to 4,370.24 points.
However, the NGX Industrial Index declined to 7,314.57 points from 7,497.14, and the NGX Oil and Gas Index slipped to 4,060.73 points from 4,071.42. The NGX Insurance Index recorded a slight uptick to 1,359.91 points.
