The Nigerian exchange continued to trade positively for the second day in a row, gaining N329 billion. The All-Share Index and market capitalisation increased by 0.58 percent to close at 104,100 points and N56.961 trillion, respectively, bringing the market’s year-to-date gain to 39.22 percent.
However, market breadth, a measure of investor mood, was negative, with 24 gainers and 27 losers at the finish of trading. University Press (9.96%), Juli Plc (9.84%), Mutual Benefits Assurance (9.38%), Daar Communications (8.82%), and Honeywell Flour Mill (7.50%) all helped to drive the ASI higher.
Sub-sector performance was relatively favorable, with insurance, consumer goods, and industrial goods indices rising by 0.18 percent, 0.22 percent, and 1.95 percent, respectively. The banking index fell 1.32 percent, while the oil and gas sector remained flat.
Despite the increase in ASI, trading activity on the NGX was slow compared to the previous day, with total traded value falling by 42.89 percent to N6.91 billion. The amount of traded shares plummeted 33.35 percent to 284.49 million units, while the number of transactions decreased by 5.62 percent to 8,168.
Unilever, Julius Berger, and Morison were the biggest losers on the day, losing 9.80%, 9.64%, and 9.60%, respectively, to close at N16.10, N50.60, and N2.73 apiece. 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 transactions.
