The equities market closed lower today, slipping 0.44%, as selling pressure in TRANSCORP (-8.19%), ZENITHBANK (-1.78%), NB (-5.59%), DANGSUGAR (-4.17%), GTCO (-0.85%), WEMA (-8.33%), and FCMB (-5.00%) kept the index in negative territory. Meanwhile, UBA (+0.84%), NAHCO (+3.19%), and FIDELITY (+0.29%) posted slight gains, but overall market breadth remained weak. A key development in today’s session was the official trading symbol change of FBNH to FirstHoldCo.
Total market turnover stood at N11.3 billion ($7.5 million), with strong activity in OKOMUOIL, ZENITHBANK, UBA, ACCESSCORP, and FIDELITYBANK. Year-to-date, the index is up 3.41%. Persistent negative sentiment, exacerbated by a broader read-across effect from weak market conditions, continues to weigh on investor confidence. With global stocks also facing pressure, we anticipate similar trading patterns in the next session unless a major catalyst spark renewed interest and triggers bargain hunting.