Shares of Thomas Wyatt Nigeria Plc fell 13.7 percent in two days on the Nigerian Exchange as the stock reversed gains recorded during its recent rally.
Thomas Wyatt closed at N2.52 on October 22, 2026, compared with N2.92 on October 20, representing a decline of 40 kobo or approximately 13.7 percent over the two-day period.
The reversal followed a strong run that had lifted the stock from N2.20 on October 15 to N2.92 on October 20, an increase of approximately 32.7 percent.
The rally gathered momentum on October 16 when Thomas Wyatt rose 10 percent from N2.20 to N2.42. It extended the advance to N2.66 on October 19 before gaining another 9.77 percent to N2.92 on October 20.
However, the momentum reversed after reaching N2.92.
By October 22, Thomas Wyatt had fallen to N2.52, wiping out a substantial portion of the gains accumulated during the previous three trading sessions.
The decline accelerated on October 22 when the stock dropped 10 percent from N2.80 to N2.52, making it the biggest decliner on the Nigerian Exchange for the session.
Despite the two-day sell-off, Thomas Wyatt remained 14.5 percent above its N2.20 closing price on October 15, meaning part of the preceding rally remained intact.
The reversal came as the broader Nigerian equities market weakened. The NGX All-Share Index declined 0.39 percent between October 20 and October 22 to 244,956.94 points, while equities market capitalisation fell by approximately N620 billion to N159.048 trillion.
