The NGX closed the day with a slight gain of 0.08%, maintaining a near-flat performance. Oando led the charge, climbing by 7.63%, while Stanbic saw a 3.60% rise, buoyed by strong H1 results and an interim dividend of N2.00 per share announced today. Other notable gainers included GTCO (+0.88%), Access (+1.56%), Eterna (+9.90%), and UACN (+5.56%). On the downside, Zenith (-1.79%), FBNH (-1.79%), Fidelity (-3.23%), Dangsugar (-2.11%), Transcorp (-1.81%), NB (-1.82%), UBA (-0.61%), and Ucap (-3.40%) experienced declines.
Market turnover was decent at N10.4 billion ($6.5 million), primarily driven by trades in Oando and Access, with the bulk of the Access trades being block trades involving offshore investors. Year-to-date, the index is up by +29.56%. We anticipate the market to sustain its current momentum in the coming session.