The Nigerian equities market maintained its positive run for the third consecutive trading session as the All-Share Index advanced by 32bps to settle at 112,781.75 points. The uptrend was supported by sustained investors interest across key sectors, with notable gains in Oando(+10.00%), GTCO(+2.21%), First Holdco(+2.70%), Zenithbank(+0.41%), UBA(+0.58%) and PZ(+5.76%) amongst others. On the whole, market breadth closed firmly positive, reflecting broad-based buying interest.
On the flip side, Ecobank(-2.03%), NB(-1.81%), Tantalizers(-4.47%), Veritkap(-1.90%), Neimeth(-1.49%) and Sunu(-1.32%) were the key laggards for the day.
Market turnover remained decent at NGN16.6 billion (USD10.5 million), with trading activity largely driven by block trades in GTCO by offshore interest, as well as trickles in UBA and Fidelity Bank. In the coming session, we anticipate investors to uphold a positive bias towards fundamentally sound tickers particularly in banking stocks.