The NGXASI wrapped up the trading day on a positive note, gaining 0.23% to settle at 100,299.48 points. This uptrend was driven by impressive gains in FBNH (+4.55%), GTCO (+2.60%) ahead of its capital raise announcement, Stanbic (+4.42%), Wapco (+4.26%), Guinness (+4.28%), Zenithbank (+0.42%), and Fidelity (+1.50%). On the downside, Dangsugar (-1.19%), Oando (-2.76%), Jaizbank (-4.07%), UBA (-1.59%), and Transcorp (-0.40%) recorded losses.
Key players such as Buafoods, Buacem, Geregu, and Dangem still closed flat with more pressure on the offer side.
Turnover increased to N4.8bn ($3.2mn), bolstered by trades in Fidelitybank and other major counters like MTNN and GTCO. We expect the market to maintain its current levels in the next session.