L – R: Mr. Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE) presenting a replica of the closing gong to Dr. Oba Otudeko, CFR , Group Chairman, First Bank Holdings Plc during a Closing Gong Ceremony in commemoration of 125 years anniversary of First Bank at the Exchange today in Lagos.

The Nigerian equities market Wednesday halted its two-day bearish trend to close on a positive note as the benchmark index increased by 0.15% to 29,193.42 points, driven by buying interest in bellwether stocks.
Thus, the Month-to-Date and the Year-to-Date losses moderated to -5.95% and -7.12% respectively.
On sectoral performance, the Consumer Goods (-0.44%), Insurance (-0.62%) and Industrial Goods (-0.44) indices recorded losses, while the Banking (+0.49%) closed in the green. The Oil and Gas index was flat. Notable stocks include Unilever (-2.86%), NEM (-4.76%), Cutix (-10.00%), and UBA (+2.44%), respectively.
Market breadth was positive, with 18 losers and 24 gainers, led by Cutix (-10.00%) and Livestock (+10.00%) shares, respectively. Total volume of trades increased by 28.8% to 481.63 million units, valued at NGN2.88 billion exchanged in 3,559.00 deals.
In the absence of a positive catalyst, we guide investors to trade cautiously in the short term. However, stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.

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