The Nigerian equities market extended its losing streak, declining 0.32% to close at 107,781.78 points, as negative sentiment—particularly in the banking sector—continued to weigh on performance. Notable decliners included GTCO (-0.79%), ZENITHBANK (-0.83%), STERLING (-5.08%), UBA (-0.54%), FIDELITY (-1.10%), and ACCESSCORP (-0.58%). Beyond the banking sector, losses in OANDO (-9.72%), ARADEL (-0.12%) and HONEYWELL FLOUR MILL (-10.00%) further pressured the index. Market breadth remained negative.
On the upside, the gainers’ chart remained thin, with NGXGROUP (+9.97%) and FBNH (+0.17%) emerging as the only notable advancers.
Market turnover stood at N10.1 billion ($6.7 million), with the bulk of trading activity concentrated in ARADEL, GUINNESS, ACCESSCORP, ZENITHBANK, and GTCO. Year-to-date, the index remains positive, up 4.72%. Since the Monetary Policy Committee (MPC) decision to hold rates steady, market sentiment has remained broadly negative. Heading into the next session, we anticipate continued cautious trading, with investors likely reacting to macroeconomic developments and sector-specific trends.