February’s final trading session carried a tone of cautious optimism, as the local equities market edged up by 14 basis points to close at 107,821.39 points. Gains in OANDO (+9.94%), TRANSCORP (+1.42%), PZ (+9.09%), ZENITHBANK (+0.73%), GTCO (+0.33%), HONEYWELL FLOUR MILL (+5.14%), and OKOMU (+0.91%) provided support, but mixed sentiment lingered amid losses in ETI (-3.18%), FBNH (-1.68%), DANGSUGAR (-2.44%), CONOIL (-2.65%), and CADBURY (-9.62%).
Notably, MTNN traded lower intraday but closed unchanged, as investors absorbed its Q4 results—balancing impressive revenue growth against full-year forex losses.
Market turnover stood at N14.1 billion ($9.4 million), with Zenith Bank dominating activity, trading shares worth N5.8 billion. Year-to-date, the index is up 4.76%. As investors recalibrate ahead of a new month, we anticipate a measured start to the next trading session, with sentiment likely to remain mixed.