The Nigerian equity market experienced a marginal decline with the NGX All-Share Index down 0.01% to 109,697.83 points. Sector performances were mixed, with notable gains in producer manufacturing, electronic technology, and consumer non-durables. Conversely, sectors like consumer services and transportation faced losses. Key equities showed varied results, with some closing flat while others, including MTN Nigeria Communications, saw losses. Meanwhile, the Ministry of Industry highlighted its support for the AfCFTA as crucial for economic diversification, aiming for improved macroeconomic stability to bolster the local equity market further.
Among key equities, BUA Foods, Dangote Cement, and Geregu Power closed flat, while MTN Nigeria Communications and Zenith Bank declined by -1.08% and -0.83%, respectively.
The strongest gains came from producer manufacturing (+4.31%), electronic technology (+2.16%), commercial services (+1.95%), and consumer non-durables (+1.68%).
Market participants maintained a cautious stance while assessing domestic policy developments and global trade dynamics.
The Ministry of Industry, Trade, and Investment reaffirmed its commitment to the African Continental Free Trade Area (AfCFTA) agreement as a strategic pillar for economic diversification.
Collection
[
|
...
]