The NGXASI slips back into the red amid weak sentiment, declining by 0.23% today, to 106,538.60 points, as selling pressure in TRANSCORP (-9.46%), MTNN (-3.18%), FCMB (-7.61%), FIDELITY (-1.99%), OANDO (-1.32%), ACCESSCORP (-0.42%), and FIRSTHOLDO (-0.67%) weighed on market sentiment. On the flip side, gains in UBA (+2.57%), ZENITHBANK (+1.06%), GTCO (+0.85%), DANGSUGAR (+2.78%), HONEYWELL FLOUR MILL (+9.80%), and UCAP (+7.84%) provided some support.
Market turnover stood at N9.7 billion ($6.5 million), with strong activity centered around ZENITHBANK, OKOMUOIL, GTCO, UBA, and ACCESSCORP. Year-to-date, the index remains up 3.51%, though gains have moderated. The market kicked off the month on a weak note, with negative sentiment dominating four out of five sessions this week. Given the current trend, we anticipate a similar trading pattern in the coming sessions, though bargain hunting may soon set in as investors seek undervalued opportunities.