The Nigerian equities market extended its losing streak on today, with the All-Share Index slipping 40bps, as broad-based profit-taking outweighed selective bargain hunting.
Declines in Fidelity Bank (-6.97%), Transcorp (-4.44%), Dangote Sugar (-5.91%), Nigerian Breweries (-4.69%), UBA (-1.92%), GTCO (-1.08%), AccessCorp (-1.60%), and Zenith Bank (-0.73%) pulled the index into the red despite isolated strength in a handful of names.
On the upside, Custodian (+9.00%) and E-Tranzact (+7.94%) stood out as top gainers, while FCMB (+6.45%), Honeywell Flour Mill (+3.86%), NASCON (+1.61%), FirstHoldco (+1.02%), and Okomu Oil (+1.02%) also posted modest advances.
Market turnover came in at ₦19.1 billion (US$11.4 million), with activity driven by trades in Fidelity, MTNN, UBA, NAHCO, and GTCO. Year-to-date, the market has returned +6.08%. As the week draws to a close, we expect sentiment to remain cautious, with investors likely to stay on the sidelines pending clearer macro and corporate signals.