The Nigerian Stock Market continues its upward trajectory, marking a second consecutive day of gains, with a notable increase of N329 billion in market capitalization.
This positive trend underscores Growing Investor confidence and the resilience of the market amid economic uncertainties.
The All-Share Index climbed by 0.58 per cent to reach 104,100 points, while market capitalization closed at N56.961 trillion. Notably, the market’s year-to-date gain now stands at an impressive 39.22 percent, reflecting sustained momentum.
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However, despite the overall positive performance, market breadth remained negative, with 24 gainers and 27 losers by the end of trading. Key contributors to the market’s upward movement included University Press, Juli Plc, Mutual Benefits Assurance, Daar Communications, and Honeywell Flour Mill.
Sector-wise, the insurance, consumer goods, and industrial goods indices recorded gains of 0.18 percent, 0.22 percent, and 1.95 percent, respectively, signaling broad-based growth. However, the banking index saw a decline of 1.32 percent, while the oil and gas sector experienced subdued performance.
Trading activity on the Nigerian Exchange Group (NGX) saw a decline compared to the previous day, with total traded value decreasing by 42.89 percent to N6.91 billion. Similarly, the volume of traded equities fell by 33.35 percent to 284.49 million units, accompanied by a 5.62 percent decrease in the number of deals.
Among the major decliners for the day were Unilever, Julius Berger, and Morison, with losses of 9.80 percent, 9.64 percent, and 9.60 percent, respectively.
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.
The sustained positive momentum in the Nigerian stock market reflects growing investor optimism and resilience amid evolving market dynamics.
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