The local equities market remained weak today, declining by 11 basis points to close at 107,675 points. While OANDO (+10.00%), PZ (+10.00%), Honeywell Flour Mill (+9.96%), and NASCON (+7.41%) recorded strong gains, overall sentiment remained negative, weighed down by losses in ETI (-9.51%), WAPCO (-3.23%), FBNH (-0.67%), Fidelity (-0.84%), and UBA (-0.27%).
Market turnover stood at N9.6 billion ($6.4 million), driven by active trades in Zenith Bank, a cross trade in FCMB, where 102 million shares worth N1 billion changed hands, as well as trading interest in Access, WAPCO, OKOMU, and GTCO. Year-to-date, the index is up 4.61%, but investor sentiment remains cautious as the market searches for clear direction. We anticipate a similar trading pattern in the next session.