The Nigerian equities market opened the week on a firm footing, advancing by 62bps to close at 106,698.50 points, supported by broad gains across consumer and industrial names. Key drivers included MTNN (+2.35%), Nigerian Breweries (+8.48%), Dangote Sugar (+5.71%), Presco (+2.40%), and IntBrew (+7.50%). Strong interest also lifted UACN (+8.32%), Beta Glass (+9.97%), and Cadbury (+9.87%).
Meanwhile, profit-taking activity dampened performance in select financials and energy names. ETI led the losers, down 9.62%, along with AccessCorp (-3.88%), UBA (-2.59%), Zenith Bank (-1.16%), GTCO (-0.86%), and Fidelity Bank (-1.23%). Transcorp (-1.10%) and Oando (-1.68%) also declined.
Market turnover was robust at ₦18.9 billion (US$11.8 million), buoyed by block trades in GTCO, Aradel, and First Holdco, with additional activity in MTNN, Zenith Bank, and Nigerian Breweries. The ASI is now up 3.66% year-to-date. Looking ahead, we anticipate a measured session as investors continue to digest earnings results and reposition ahead of further dividend adjustments.