The Nigerian equities market closed the week on a flat note today (+0.00%), settling at 97,100.31 points. Market breadth was also flat with 22 gainers against 20 losers. Declines in Dangsugar (-4.35%), Transcohot (-0.93%), Transcorp (-1.38%), FBNH (-0.71%) and Nascon (-4.87%) were offset by renewed investor interest in Oando (+9.97%) which saw strong buying activity. There were also modest gains in GTCO (+0.99%), Zenithbank (+0.40%), Accessco (+0.26%), Wapco (+0.27%) and Fidelity (+0.50%).
Market turnover stood at N7.5 billion ($4.7 million), primarily driven by block trades in GTCO with some foreign activity observed. Year-to-date the index is up by +29.86%. We expect the market to trade near or at current levels in the coming session.