The local equities market extended its cautious tone into today’s session, ultimately closing lower by 18 basis points to settle at 104,187.00 points, as banking stocks slipped back into negative territory.
The bulk of the pressure came from the financial space, where ETI (-9.90%), GTCO (-1.74%), UBA (-2.58%), FirstHoldCo (-2.38%), and Fidelity Bank (-3.24%) all closed in the red. Broader weakness was also seen in Transcorp (-0.87%), PZ Cussons (-9.88%), and WAPCO (-0.35%).
On the flip side, Oando (+6.58%) led the gainers in terms of points, supported by solid moves in NGX Group (+9.86%), Dangote Sugar (+2.52%), NASCON (+5.14%), and Zenith Bank (+0.64%).
Market turnover closed at ₦11.8 billion ($7.6 million), with a dominant contribution from GTCO, which alone accounted for over ₦4 billion in trades. Other notable contributors included Zenith Bank, MTNN, Access Holdings, and UBA. Year-to-date, the NGX ASI is up +1.22%. Barring any significant macro or earnings surprises, we anticipate a similarly cautious session tomorrow, with investors likely to remain selective amid ongoing portfolio rebalancing.