The Nigerian equities market started the new quarter on a cautious note, with the ASI dipping 12 basis points as investors continue to react to some ongoing earnings releases and dividend declarations, balancing fresh positioning with profit-taking.
Despite gains in GTCO (+1.16%), TRANSCORP (+0.68%), ACCESSCORP (+1.34%), NAHCO (+4.48%), DANGSUGAR (+1.21%), Mansard (+3.49%), and Afriprud (+9.96%), the market remained quite weak from losses in OANDO (-5.48%), FIRSTHOLDCO (-3.02%), WAPCO (-1.63%), UACN (-10.00%), STERLING (-6.42%), NASCON (-6.42%), UCAP (-7.27%), CUSTODIAN (-5.64%), and FCMB (-3.09%). Meanwhile, blue-chip stocks Dangote Cement, Geregu, and Seplat ended the session unchanged.
Turnover stood at N12.0 billion ($7.8 million), driven largely by trades in GTCO, MTNN, Zenith Bank, NB, and Aradel. Year to date, the index holds a +2.55% gain. As the week progresses, we anticipate a measured trading session, with investors adjusting their portfolios in response to market trends and upcoming corporate actions.