The Nigerian equities market showed some resilience today, inching up by 0.21% to close at 96,408.22 points. This upward movement was primarily driven by sustained momentum in Oando (+9.98%) and Jberger (+9.97%), along with gains in Intbrew (+8.89%), Cornerstone (+9.88%), Jaiz Bank (+4.89%), Eterna (+9.86%), NB (+1.07%), and GTCO (+0.22%). However, the market faced some pressure from losses in UBA (-3.52%), FBNH (-2.22%), Transcorp (-1.79%), Fidelity (-1.40%), Ucap (-1.57%), WAPCO (-0.27%), and Zenith Bank (-0.13%). Geregu and a number of other large caps remained flat. Market breadth closed marginally positive, with 25 gainers against 22 losers.
Market turnover was robust, totaling N7.4 billion ($4.7 million), with trading activity dominated by FBNH. Approximately 64 million FBNH shares traded today at an average price of N22.01 per share. Year-to-date, the index has gained +28.93%. We expect the market to trade around current levels in the coming session.