The local equities bourse posted quite a solid performance today, advancing by 75bps to close at 103,137.99 points. This uptick was primarily fueled by a 10.00% rally in MTNN, following the Nigerian Communications Commission’s (NCC) approval of a 50% tariff increase. Other notable gainers included Transcorp (+3.09%), GTCO (+1.72%), Zenith Bank (+0.43%), Honeywell Flour Mill (+6.01%), Access (+0.41%), and UBA (+0.29%). However, declines in Oando (-2.70%), FBNH (-1.54%), Sterling Bank (-3.91%), NB (-1.72%), and Fidelity Bank (-0.82%) slightly tempered overall sentiment.
Market turnover stood at N11.95 billion ($7.7 million), dominated by trades in MTNN, with some activity also seen in Zenith Bank, Access Holdings, UBA, and Oando. Year-to-date, the index has returned to positive territory, up by +0.21%. Similar trading dynamics are expected in the next session.