The NGXASI closed positively today, rising by 32 basis points to finish at 97,025.17 points. FBNH led the gains with a 10.00% surge driven by renewed investor demand; Nestle (+9.88%) benefited from a cross trade, while Oando continued its market volatility, closing up by 3.66%. Top tier banks – Access (+1.63%) and GTCO (+0.44%) posted gains, with GTCO declaring a N1 interim dividend. Flourmill (+9.99%) also closed on the positive side. On the downside, key laggards included Dangsugar (-2.23%), Intbrew (-5.32%), Eterna (-8.14%), and UBA (-0.42%).
Market turnover remained steady at N7.97 billion ($4.8 million), driven by early crosses in Access and significant trading volumes in FBNH, Oando, UBA, and Zenith. Year-to-date, the index has gained 29.76%. We expect the market to maintain its current trajectory, with potential fluctuations in the upcoming session.