The Nigerian equities market closed the week and H1 on a positive note, with the benchmark index rising by 0.67% today to 100,057.49 points, surpassing the 100,000 mark once again. This increase was primarily driven by gains in MTNN (+7.00%) alongside others like FBNH (+2.82%), Transcorp (+4.00%), Ucap (+9.96%), GTCO (+1.01%), Oando (+4.53%), Zenithbank (+0.56%), and Sterling (+3.36%). Conversely, Jaizbank (-9.72%), Guinness (-4.29%), Nascon (-6.25%), Champion (-6.67%), and Accesscorp (-0.26%) were the main decliners today.
Meanwhile, prominent stocks like Buafoods, Buacem, Geregu, and Dangem remained flat, with more pressure on the offer side.
Turnover reached N9.9 billion ($6.4 million), primarily boosted by trades in Guinness and Transcorp. Year-to-date, the market index is up by +33.81%. We expect H2 to commence on an optimistic note.