The Nigerian equities market wrapped up the session on a bright note, climbing 0.51% to 105,324.88 points, as investors piled into tier-one banking stocks. FBNH (+9.56%), GTCO (+3.23%), Accessco (+6.31%), Zenith (+1.63%), and UBA (+0.67%) led the charge, propelling the banking index +3.17% higher. Beyond the tier-one banks, sentiment was further boosted by Oando (+2.26%), DangSugar (+2.78%), Fidelity (+2.08%), FCMB (+4.35%), Wapco (+0.64%), Jaiz Bank (+5.74%), and Nascon (+5.67%). However, IntBrew (-4.50%), Stanbic (-0.79%), and NB (-1.30%) provided some resistance, while Geregu remained unchanged.
Market turnover was impressive at N22.8 billion ($15.3 million), fueled by massive cross trades in Access Holdings, where shares worth N12.57 billion exchanged hands. Other actively traded stocks included FBNH, Zenith Bank, UACN, MTNN, Oando, and UBA. Year-to-date, the index is up by 2.35%. With investors closely monitoring market trends, we anticipate sustained activity, driven by sector rotations and selective bargain hunting in the sessions ahead.