The Nigerian equities market wrapped up the week on a flat note, edging down today by 0.08% to close at 105,451.06 points, as mixed sentiments dominated trading. Gains in GTCO (+1.75%), Transcorp (+0.98%), Honeywell Flourmill (+9.99%), Custodian (+3.68%), Nascon (+2.85%), UACN (+2.24%), Presco (+0.38%), and Ucap (+1.13%) were offset by declines in FBNH (-2.74%), Zenith Bank (-1.08%), Access (-0.81%), and Oando (-0.79%).
Market turnover for the day was N19.4billion ($12.5 million), driven by active trades in Nahco, NB, Zenith Bank, Access, Nascon and an off-market trade in Wema bank. Despite today’s flat close, the market has shown a bit of resilience over the week, maintaining a year-to-date gain of 2.45%. As we transition into the next trading week, we expect cautious positioning by investors, with the market likely to hover around current levels barring any major catalysts.