The NGX All-Share Index (NGXASI) climbed by 1.05% today, closing at 98,116.27. This upward momentum was largely fueled by a surge in demand in MTNN (+10.00%) after the telco giant announced progress in renegotiating its lease agreements. Other top performers included Oando (+9.97%), Zenith Bank (+2.70%), Okomu Oil (+9.99%), GTCO (+2.22%), FBNH (+3.47%), NB (+9.85%), Transcorp (+4.33%), UBA (+1.91%), Unilever (+10.00%), Accessco (+1.33%), and ETI (+1.45%).
Conversely, profit-taking pressured Ucap (-9.94%), and other laggards included Dangsugar (-1.88%), Sterling (-5.66%), Intbrew (-4.97%), and Wapco (-0.54%).
Market turnover was strong, reaching N13.8 billion ($8.7 million), with significant activity in GTCO, Accessco, and Zenith Bank. The index has now gained 31.22% year-to-date. We expect the market to sustain this positive trend heading into the next session.