The Nigerian equities market closed the week on a flat note, inching up by just 4bps today to settle at 100,539.40 points. Market breadth was negative, with 28 decliners outnumbering 15 advancers. Top gainers included MTNN (+1.99%), FCMB (+3.25%), Fidelity Bank (+1.42%), UCAP (+1.63%), and WAPCO (+0.55%). Conversely, the key laggards were FBNH (-3.29%), UBA (-1.93%), GTCO (-0.77%), Dangsugar (-1.34%), Zenithbank (-0.54%), and Oando (-1.62%).
Index heavyweights such as Buafoods, Dangcem, Buacem, and Geregu closed flat, with sellers dominating the board.
Market turnover was N9.0 billion ($5.5 million), largely driven by trades in UCAP and GTCO. Year-to-date, the market has gained 34.46%. We anticipate the market will remain near its current levels in the next session.