The NGXASI experienced a decline today, slipping by 0.35% to close at 96,537.50 points. Oando’s bullish run came to a sharp end, dropping by 10.00% as investors locked in profits, making it the main drag on the index. The banking sector also saw losses with Zenith (-2.35%), UBA (-2.26%), Access (-2.05%), and GTCO (-0.43%) all down alongside Dangsugar (-0.43%) also losing ground. On the bright side, Fidelity (+2.38%), Transcorp (+1.38%), and Nascon (+3.82%) were the standout gainers among major stocks, while FBNH and Geregu remained flat.
Market turnover was robust at N8.1 billion ($5.1 million), driven largely by trades in Oando and GTCO. Year to date, the index has gained +29.11%. We expect the market to maintain its current momentum heading into the next session.