The Nigerian equities market ended the day on a negative note, declining by 21 basis points to close at 100,156.96. The market saw 24 losers compared to 12 gainers. Banking stocks were hit hardest, with Zenithbank (-2.57%), FBNH (-2.79%), UBA (-2.78%), FCMB (-8.75%), GTCO (-0.56%), Accessco (-0.78%) and Fidelity (-0.93%) all posting losses. Other notable decliners included Dangsugar (-2.56%), Transcorp (-2.09%), and NAHCO (-6.09%).
On the upside, Oando (+3.06%), Ucap (+2.70%), Custodian (+8.71%), UACN (+2.24%) and NB (+0.17%) were the top gainers.
Market turnover was solid at N6.9 billion ($4.3 million), primarily driven by trades in Zenithbank and GTCO. Year-to-date, the index is up by +33.95%. We anticipate the market to maintain its current levels in the next session.