Nigerian Bourse Ends November Bearish

The Nigerian stock market ended the month of November on a bearish note on Tuesday with a loss of N12 billion.

Specifically, the market capitalisation decreased by N12 billion or 0.05 per cent to close at N22.566 trillion, as compared to N22.578 trillion on Monday.

As a result of profit-taking, the All-Share Index, which opened at 43,270.94, lost 22.98 points or 0.05 per cent to close at 43,248.05.

Thus, the month-to-date and year-to-date gains have moderated to 2.9% and 7.4%, respectively.

Price declines in large and medium-capitalised stocks; UPDC Real Estate Investment Trust, Guaranty Trust Holding Company, Guinness Nigeria, Union Bank of Nigeria (UBN) and Zenith Bank drove the market’s negative performance.

Therefore, the market sentiment remained negative with 24 losers compared to 12 gainers.

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By percentage terms, UPDC Real Estate Investment Trust was the biggest loser and closed at N4.10 per share.

Ikeja Hotel followed with a 9.63 per cent loss to close at N1.22, while UACN Property Development Company lost 9.32 per cent to close at N1.07 per share.

Chams shed 9.09 per cent to close at 20k, while UBN depreciated by 6.19 per cent to close at N4.55 per share.

On the other hand, AIICO Insurance topped the gainers’ chart in percentage terms by closing at 83k per share.

Access Bank closed at N9.50 with a 4.40 percent gain, while Wapic Insurance reached 50k per share with a 4.17 percent gain.

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The share price of Ecobank Transnational Incorporated rose by 3.73 percent to N8.35, while the FCMB Group appreciated by 3.33 percent to close at N3.10 per shareA total of 224.91 million units worth N3.71 billion were transacted in 4,331 transactions, a growth of 5.5 per cent.

In spite of this, the total volume of trades increased by 5.5 per cent to 224.91 million units valued at N3.71 billion exchanged in 4,331 deals.

Comparatively, on Monday, 213.13 million shares worth N2.36 billion were traded in 4,105 deals.

Shares of Access Bank topped the activity chart with 42.18 million shares valued at N389.70 million.

Zenith Bank followed, trading 38.97 million shares valued at N935.40 million, while FBN Holdings traded 16.89 million shares worth N198.73 million.

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GTCO traded 16.67 million shares valued at N413.98 million, while AIICO Insurance transacted 12.86 million shares worth N10.51 million.


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