The local equities market pulled back at the close of the week’s final trading session, slipping by 21 basis points to settle at 104,563.34 points, reversing its flat midday performance. The weakness was largely driven by declines in heavyweights and key banking names including MTNN (-4.08%), Oando (-5.57%), Access Holdings (-1.45%), WAPCO (-0.45%), First HoldCo (-0.40%), and Fidelity Bank (-0.51%). On the flip side, there were bright spots across select counters. VFD Group (+9.90%) led the gainers, along with GTCO (+2.26%), Transcorp (+1.74%), Zenith Bank (+1.52%), UACN (+3.70%), and UBA (+0.14%), with a few penny stocks also posting gains.
Market turnover closed at ₦10.1 billion ($6.3 million), buoyed by trades in GTCO, Zenith Bank, Access Holdings, MTNN, and UBA. Year to date, the index is up 1.59%.
This week saw cautious optimism give way to broad-based profit-taking, especially in large-cap names, amid a risk-off tone in global equities. The local market mirrored the broader trend, with negative cues from global markets and foreign investor caution contributing to midweek weakness. In the coming week, sentiment is expected to remain data-driven, with investor focus shifting to upcoming corporate releases and macro economic signals for clearer direction.