AGS NEWS – Nigeria’s stock exchange continued its upward trajectory for the second consecutive day, recording a significant gain of N329 billion.

The All-Share Index and market capitalization increased by 0.58%, reaching 104,100 points and N56.961 trillion, respectively. This surge brought the year-to-date gain to an impressive 39.22%.

Despite this positive momentum, market breadth, indicating investor sentiment, remained negative, with 24 gainers and 27 losers at the close of trading.

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AGS NEWS reports that notable contributors to the index’s rise included University Press, Juli Plc, Mutual Benefits Assurance, Daar Communications, and Honeywell Flour Mill.

The performance across sub-sector gauges was generally positive, with the insurance, consumer goods, and industrial goods indices seeing gains of 0.18%, 0.22%, and 1.95%, respectively.

However, the banking index experienced a decline of 1.32%, while the oil and gas sector showed lackluster performance.

Trading activities on the NGX were subdued compared to the previous day, with total traded value decreasing by 42.89% to N6.91 billion.

The volume of traded equities also fell by 33.35% to 284.49 million units, with the number of deals decreasing by 5.62% to 8,168.

Among the major decliners for the day were Unilever, Julius Berger, and Morison, which experienced losses of 9.80%, 9.64%, and 9.60%, respectively.

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On the other hand, Guaranty Trust Holding Company emerged as the most traded security in terms of volume and value, with 56.61 million units worth N2.22 billion changing hands in 326 deals.