The local bourse ended the day on a positive note, gaining 20 basis points to settle at 99,832.25 points. This upward movement was fueled by notable gains in UBA (+6.24%), Zenith (+2.86%), NB (+10.00%), GTCO (+2.44%), Wapco (+2.87%), Stanbic (+1.52%), Ucap (+8.40%), Sterling (+5.32%), Oando (+3.09%), and FBNH (+0.44%). However, the index faced downward pressure from ETI (-9.92%), Fidelity (-4.00%), Access (-1.55%), and Transcorp (-2.33%). Custodian (-10.95%) also weighed on the market, being marked down for a dividend of 65 kobo per share. Other major players, including Dangcem, Geregu, Airtel, BUACem, BUAFoods, and Jberger, closed flat.
Turnover was decent at N8.7bn ($5.8mln), bolstered by block trades in Zenith and GTCO. Year-to-date, the index now stands at +33.51%. We anticipate the market to trade around current levels in the upcoming session.