The Nigerian equities market managed to break its four-day losing streak, closing marginally higher by 9bps, to settle at 102,183.06 points as it rebounded from earlier intraday losses. Renewed investor interest in Dangcem (+3.12%) likely driven by bargain hunting and gains in Dangsugar (+9.91%), GTCO (+1.13%), Unilever (+4.44%) and FBNH (+0.17%) led the recovery. However, the market faced headwinds from declines in NB (-2.97%), profit-taking in Honeywell Flour Mills (-0.23%), and weaker performance in several penny stocks, which moderated the overall upside.
Market turnover was decent at N16.7 billion ($10.7 million), supported by block trades in GTCO, which saw significant offshore participation, alongside active trading in Dangcem. An off-market transaction involving 5 million units of BUA Foods at N390 per share further boosted activity. Year-to-date, the ASI is down by 0.72%. Looking ahead, similar trading patterns are expected in the next session, with investors likely maintaining a cautious stance.