The Nigerian equities market started the week on a quiet note, slipping just 1bp to close at 109,697.83 points. Notable pressure came from Transcorp Hotels (-5.64%), MTNN (-1.08%), Fidelity Bank (-3.85%), AccessCorp (-2.13%), UBA (-1.15%), Zenith Bank (-0.83%), PZ Cussons (-8.67%), and Wema Bank (-3.57%), keeping the benchmark index slightly in the red.
Still, market breadth was postive, with several gainers lending support. Dangote Sugar (+9.08%) stood out, along with Transcorp (+1.35%), Nigerian Breweries (+3.64%), Okomu Oil (+2.79%), GTCO (+0.74%), Beta Glass (+9.98%), Guinness (+7.50%), Oando (+1.92%), Custodian Investment (+8.36%), ETI (+1.05%), and NNFM (+9.97%).
Market turnover closed at ₦11.4 billion (US$7.1 million), buoyed by activity in GTCO, AccessCorp, Fidelity Bank, UBA, and Nigerian Breweries. Year-to-date, the ASI is up +6.58%. We expect sentiment in the next session to remain mixed, with selective buying likely to persist as investors reposition ahead of corporate actions and seek value in oversold counters.