Nigerian equities closed sharply higher today, with the All-Share Index climbing 1.63%. The standout performer was MTNN, which surged +9.99%, while Oando (+9.96%), Zenith Bank (+4.00%), Access Holdings (+5.45%), UBA (+3.75%), FirstHoldco (+3.16%), GTCO (+0.79%), and Transcorp (+2.74%) also contributed significantly to the day’s rally. Additional support came from IntBrew (+5.29%), Wapco (+1.65%), Fidelity (+1.32%), Wema Bank (+4.09%), PZ (+5.77%), and NGX Group (+10.00%), lifting overall market breadth firmly into positive territory.
On the flip side, losses in Honeywell Flour (-6.82%), Unilever (-4.06%), and Sterling Bank (-3.42%) were among the few drags, as decliners were easily outpaced by gainers.
Turnover was strong at ₦33.5 billion (US$21.1 million), buoyed by large block trades in Fidelity Bank, alongside active flows in Zenith, GTCO, MTNN, and Oando. Year-to-date, the market is now up +11.36%. Looking ahead, we expect bullish momentum to remain intact, supported by selective interest in bellwethers and rotation into high-conviction names as investors position for mid-year earnings.