The Nigerian equities market closed today on a quiet note, slipping by a modest 2 basis points as investors balanced fresh positioning with profit-taking amid a flurry of corporate earnings releases.
Transcorp Hotels led the gainers with a 7.13% rise, along with by Fidelity (+2.36%), Mansard (+7.87%), Sterling Bank (+3.14%), and Afriprud (+9.76%). However, this was countered by declines in FirstHoldCo (-4.58%), PZ Cussons (-9.97%), Oando (-2.19%), UACN (-9.23%), FCMB (-3.19%), and Access Holdings (-0.44%).
Market turnover for the day stood at ₦8.7 billion ($5.7 million), primarily driven by trades in GTCO, Zenith Bank, UBA, Fidelity, and Access Holdings. Year-to-date, the market remains in the green, up by 2.52%, but the latest session reflects investor caution as they digest the latest earnings and prepare for further financial disclosures. Looking ahead, the market is likely to remain choppy in the short term. While earnings season continues to play a major role in shaping sentiment, other macroeconomic matters and foreign investor participation will likely keep the market on edge.