The Nigerian equities market ended on a negative note today, snapping its gaining streak for the first time this year with a decline of 0.24% to close at 103,398.82 points. The downturn was driven by weaknesses in banking stocks such as Zenith Bank (-3.64%), UBA (-2.44%), and Access (-1.00%), along with profit-taking in insurance counters including Cornerstone (-9.98%), Wapic (-9.73%), and AIICO (-9.52%), which dragged the NGX Insurance Index down by 7.68%.
On the positive side, Transcorp (+2.27%), GTCO (+1.42%), FBNH (+2.08%), and PZ (+10.00%) posted gains. Market breadth leaned negative, reflecting the broader profit-taking sentiment.
Market turnover stood at N14.6 billion ($9.5 million), supported by significant block trades in FBNH, which saw 161 million shares worth N4.7 billion change hands. Active trading was also recorded in Access, GTCO, and Oando. Year-to-date, the index remains up by 0.46%. Looking ahead, we anticipate the market to trade near its current levels in the next session.