The NGXASI closed slightly lower, slipping by 7bps to settle at 106,093.45 points, as declines in Conoil (-10.00%), UBA (-1.60%), Dangsugar (-3.00%), Oando (-1.95%), First HoldCo (-1.21%), UCAP (-4.93%), and FCMB (-3.03%) overshadowed modest gains in GTCO (+2.84%), Zenithbank (+0.53%), and Fidelity (+0.59%). However, pockets of strength emerged in penny stocks, with Tantalizers (+9.79%), NSLTECH (+9.68%), and Caverton (+9.09%) posting impressive gains.
Market turnover stood at N10.2 billion ($6.7million), with liquidity primarily driven by block trades in MTNN, where N2.6 billion worth of shares exchanged hands. Additional flows came from block trades in Sovereign Trust, Jaizbank, and NB, alongside active trading in Zenithbank. Year to date, the index is up by 3.07%. With the market exhibiting a cautious tone, we anticipate a measured approach from investors in the next session.