The local bourse closed on a negative note today, declining by 0.29% to settle at 102,836.13 points. The recent rally in MTNN proved short-lived as the stock slid by -3.63%. Other laggards included Aradel (-0.37%), FBNH (-1.74%), WAPCO (-1.34%), Dangsugar (-2.73%), Honeywell Flour Mills (-4.74%), NB (-1.12%), and UACN (-2.44%). On the positive side, gains in GTCO (+1.69%), Transcorp (+1.20%), Access Holdings (+1.45%), Zenith Bank (+0.74%), UBA (+0.59%), Fidelity Bank (+1.11%), and Cadbury (+9.65%) helped cushion some losses.
Market turnover was robust at N15.2 billion ($9.6 million). Geregu Power dominated activity with trades worth N5 billion, executed through fragmented trades at N1,035 as the stock did not print price. Access Holdings also saw significant activity, with 91 million shares valued at N2 billion changing hands. Other actively traded stocks included Aradel, UBA, Zenith Bank, and an off-market trades in BUA Foods. Year-to-date, the ASI has edged into negative territory, down by -0.09%. Similar trading patterns are anticipated in the next session as investors continue to navigate mixed market sentiment.