The Nigerian equities market closed marginally lower today, down by 12bps to settle at 105,800.85 points, as weak sentiment lingered across key sectors. The decline was primarily driven by losses in GTCO (-3.54%), ETI (-10.00%), and AccessCorp (-6.44%), which traded ex-dividend for a ₦2.05 payout (reference price: ₦22.00). Broader profit-taking activity was also evident in names like Dangote Sugar (-5.77%), International Breweries (-10.00%), Fidelity Bank (-1.48%), NASCON (-5.66%), Cadbury (-9.80%), and UACN (-5.44%).
On the bright side, MTNN (+4.17%) rebounded strongly following the release of a solid Q1 2025 earnings report, which showed recovery in both top- and bottom-line metrics. Other notable gainers included Stanbic IBTC (+3.13%), Transcorp (+1.20%), Wema Bank (+9.82%), First HoldCo (+1.22%), UCAP (+6.85%), Vitafoam (+10.00%), FCMB (+3.35%), NAHCO (+4.17%), and Eterna (+4.06%).
Market turnover stood at ₦12.8 billion ($7.9 million), driven by block crosses in MTNN, while other active trades were seen in UBA, Zenith Bank, GTCO, and AccessCorp. Year-to-date, the ASI is up +2.63%. As the market heads into a mid-week break for Workers’ Day tomorrow, we anticipate a mixed start to the new month, with sentiment likely guided by continued earnings releases, dividend adjustments, and bargain hunting in select oversold counters.