The Nigerian Stock Market suffered its second loss in November in two consecutive days, as the benchmark All Share Index (NSE ASI) dropped 263.38 points on Monday. The 0.75% decline in the index follows the 0.86% drop recorded on Friday, after a record breaking gain on the Thursday before it.
The Market Capitalization shed N137.619 billion to close the day’s trading session at N18.170 trillion.
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While four stocks recorded the maximum gain possible, over twenty stocks recorded the biggest loss allowable in a day’s trading session.
Activity level
The activity level waned considerably as 668.53 millions shares valued at N7.84 billion was traded in 10,319 deals. These figures represent a 46.25% decline in volume, 51.81% decline in value and 23.18% decline in number of deals done when compared with the figures of the last trading session.
ZENITHBANK was the most traded stock by volume, with 94.033 million shares valued at N2.509 billion exchanging hands in 1,143 deals. TRANSCORP with 75.481 million shares and FBNH with 65.223 million shares were the second and third most traded stocks by volume respectively.
ZENITHBANK was also the top traded stock by value; GUARANTY with a turnover of N1.161 billion came in second, while DANGCEM with shares valued at N626.854 million exchanging hands was the third most traded stock by value.
Performance of Indices
Of the 5 indices under our watch, only the Industrial Goods Index appreciated while the other 4 closed in negative;
- Industrial Goods Index: advanced by 2.09%
- Insurance Index: declined by 1.71%
- Oil & Gas Index: declined by 3.09%
- Consumer Goods Index: declined by 3.75%
- Banking Index: declined by 4.43%
Investor Sentiment
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.3x from the 0.7x recorded previously as 11 tickers gained against 43 losers.
Top five gainers by percentage;
- BOCGAS rose by 9.92% to N5.32
- NEIMETH rose by 8.99% to N2.91
- UNITYBNK rose by 8.86% to N0.86
- ARDOVA rose by 8.11% to N16.00
- BUACEMENT rose by 7.69% to N56.00
Top five losers by percentage;
- OANDO lost 10.00% to N3.60
- NAHCO lost 10.00% to N2.34
- DANGSUGAR lost 9.91% to N20.00
- FIDELITYBK lost 9.69% to N2.61
- LIVESTOCK lost 9.66% to N1.31
Corporate Disclosures
- University Press Plc released its second quarter financial statement for 2021
- FCMB Group Plc gave notice of its Board Meeting
- B.O.C Gases Plc announced a proposed sale of the controlling equity interest in BOC Gases Nigeria Plc by BOC Holdings
- CWG Plc releases its third quarter financial statement for 2020
Outlook
We expect the profit taking to continue tomorrow, but renewed buying interest will likely reverse the market direction towards the later days of the week.
By; Nnamdi M.
