The Nigerian equities market closed on a bullish note today, advancing by 1.25% to settle at 105,530.74 points. This strong performance was fueled by a rally in telco heavyweight MTNN (+10.00%) and notable gains in Transcohot (+9.78%), Zenith Bank (+4.49%), Transcorp (+3.03%), ETI (+8.57%), Presco (+7.10%), Fidelity (+5.07%), Stanbic (+2.59%), Accessco (+0.82%), UBA (+0.59%), Honeywell Flourmill (+9.89%), Dangsugar (+1.54%), and Custodian (+5.56%), among others, as market breadth leaned positive.
On the flip side, losses in Wapco (-1.41%), FBNH (-1.27%), and Guinness (-7.47%) tempered further market gains.
Market turnover stood at N13.1 billion ($8.5 million), driven by active trades in Seplat, which recorded transactions worth N4.56 billion, although the stock’s price remained flat, and in MTNN, which saw trades valued at N1 billion. Year-to-date, the index is up by 2.53%. Looking ahead, we anticipate the market to trade near its current levels in the next session.