The NGXASI opened the week on a downtrend, with the index slipping by 17 basis points to settle at 97,582.41 points. The market showed mixed sentiment, with 23 stocks declining and 22 advancing. Notably, Presco (+10.00%), Oando (+9.88%), and Intbrew (+10.00%) continued their upward momentum, while other stocks like Dangsugar (+0.75%), UBA (+1.52%), Ucap (+9.88%), NB (+1.54%), Nahco (+5.41%), FBNH (+0.49%), Wapco (+0.54%), and Zenithbank (+0.28%) also posted gains. However, these positives were overshadowed by declines in MTNN (-5.95%), Transcorp (-1.79%), and Sterling (-2.99%). Major stocks like Dangcem, Geregu, Buacem, and Buafoods closed flat.
Market turnover stood at N6.2 billion ($3.8 million), predominantly driven by trades in Zenithbank, MTNN, and UBA. We anticipate the market to sustain its current trend in the next session.