The Nigerian equities market ended the trading day flat, with a marginal gain of 0.01%, settling at 99,396.23 points. Despite this flat performance, market breadth was positive, featuring 33 gainers against 15 losers. Leading the gainers were Seplat (+10.00%) due to quarter-end activities by portfolio managers, followed by UBA (+3.94%), FBNH (+2.90%), GTCO (+1.25%), Ucap (+9.79%), Intbrew (+7.23%), Oando (+4.36%), Accesscorp (+1.06%), Flourmill (+3.49%), NB (+1.72%), and UACN (+7.48%). However, these gains were offset by significant losses in MTNN (-6.89%), along with declines in Zenith (-0.56%) and Presco (-1.34%). Major stocks like Buafoods, Buacem, Geregu, and Dangem remained flat, with increased selling pressure.
Turnover for the day stood at N10.5 billion ($6.8 million), driven primarily by trades in GTCO, which saw significant foreign interest, as well as activity in Jerger and MTNN. Year-to-date, the market index has risen by +32.93%. We anticipate the market will maintain its current levels in the upcoming sessions.