The Nigerian equities market declined by 0.25% today, closing at 107,670.98 points. While DANGSUGAR (+1.23%), WEMA (+1.25%), and some penny stocks such as CORNERSTONE (+7.03%), WAPIC (+5.88%), SUNU (+9.58%), and JAIZ (+2.31%) posted gains, the market was largely weighed down by losses in major stocks, including FBNH (-2.77%), ZENITHBANK (-1.36%), WAPCO (-1.34%), OANDO (-1.72%), FIDELITY (-2.31%), ACCESS (-1.25%), UBA (-0.91%), and GUINNESS (-3.90%).
Market turnover stood at N11.3 billion ($7.5 million), driven by trades in GUINNESS, ACCESS, UBA, ZENITH, and OANDO. Year to date, the index is up by 4.61%. Looking ahead, the drop in inflation may prompt the MPC to pause its tightening cycle, potentially boosting investor confidence in the equities market.