Market wrap 10/05/2024

The NGXASI ended the day marginally lower by -0.02% to settle at 98,234.24 points following weakness recorded in Transcorp (-2.70%), PZ (-9.90%), Flourmill (-4.87%), Oando (-5.14%), Wema (-6.41%), Fidelity (-2.23%) NB (-2.08%), AXA Mansard (-10.00%), Sterling (-3.04%), FBNH (-0.40%) and Access (-0.57%). On the other hand, GTCO (+3.63%), UBA (+0.96%) and Custodian (+8.77%) led the gainers chart and salvaged valuable points on the day.  Other heavy weights in the index, such as Geregu, Airtel, and Dangcem, traded flat.

Market turnover was modest at N7.1 billion ($4.99million) boosted by block trades in UBA and Zenith. The year-to-date value of the index fell slightly to +31.38%. The market will likely trade at these levels over the upcoming session.

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