The Nigerian equities market began the week on a steady note, edging up by 6 basis points to close at 103,648.24 points. This performance was supported by gains in FBNH (+3.40%), Transcorp (+1.15%), Access (+2.04%), Wema (+10.00%), FCMB (+5.67%), and Zenith Bank (+0.32%). The insurance sector also saw advances, with notable gains in WAPIC (+9.96%), AIICO (+9.88%), Cornerstone (+5.98%), and Custodian (+3.61%).
On the flip side, GTCO (-1.40%), Wapco (-0.70%), Sterling (-3.65%), and Jaiz Bank (-5.23%) weighed on the market, while Geregu closed unchanged.
Market turnover was decent at N13.2 billion ($8.6 million), driven by block trades in GTCO, where 53.9 million shares worth N3 billion were exchanged. Year-to-date, the index has recorded a gain of 0.70%. Looking ahead, we expect the market to trade close to current levels in the next session.