Renewed investor optimism fueled a 37bps uptick in the local equities market today, with strong performances in select consumer, industrial and banking counters. Sentiment was driven by strong rallies in Nestle (+10.00%), Honeywell Flour Mill (+10.00%), Beta Glass (+9.98%), NNFM (+9.49%), Transcorp Hotels (+6.19%), and Okomu Oil (+3.42%). Banking counters also contributed positively, with AccessCorp (+2.56%) and Stanbic (+0.73%) posting gains. On the flip side, the laggards list remained light, with losses in Oando (-1.87%), Sterling Bank (-3.33%), and Wema Bank (-2.77%).
Market turnover stood at ₦13.9 billion (US$8.7 million), largely driven by trades in MTNN, FCMB, Zenith Bank, Fidelity, and Nestle. With bullish sentiment starting to dominate broader market direction, we expect momentum to persist in the next session, though tempered by potential profit-taking in recently rallying names.