L – R: Mr. Olumide Bolumole, Divisional Head, Listing Business Division, The Nigerian Stock Exchange (NSE); Mr. Oscar Onyema, Chief Executive Officer, NSE; Mr. Valentine Ozigbo, President/CEO, Transcorp Plc; Mrs. Owen Omogiafo, Managing Director/CEO, Transcorp Hotel Plc and Mr. Christopher Ezeafulukwe, Executive Director, Transcorp Plc during the Facts Behind the Figures presentation at the Exchange today in Lagos.

The Nigerian equities market today closed the second trading session of week nearly flat as the benchmark index declined marginally by 0.01% to 31,038.86 points, driven by sell-off in Banking and Consumer Goods stocks.

Thus, the Month-to-Date and the Year-to-Date return decreased to -2.14% and -1.25% respectively.

On sectoral performance, gains in the Industrial Goods (+0.35%), Insurance (+0.87%), and Oil & Gas (+0.74%) indices were not enough to offset the losses in Banking (-0.38%) and Consumer Goods (-0.54%) indices.
Notable stocks include OANDO (+1.79%), NEM (+6.33%), Dangote Cement (+0.80%), Guaranty (-0.27%), and NB (-3.60%).

Market breadth was negative, with 20 losers and 18 gainers, led by Wemabank (-6.25%) and Cadbury (+9.60%) shares, respectively.
Total volume of trades decreased by 14.83% to 143.71 million units, valued at NGN1.68 billion, and exchanged in 3,457 deals.

In the absence of a positive catalyst, experts guide investors to trade cautiously in the short term, adding however that stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.

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