The Nigerian equities market started December on a cautious and bearish foot, shedding N200 billion in market worth.
The benchmark All Share Index (ASI) declined by 0.22% to 143,210.33 factors.
Consequently, the year-to-date (YTD) return eased to 39.14% from 39.44% within the earlier week, whereas the market capitalization shed N197.32 billion, to settle N91.09 trillion
The damaging tone was influenced by selloffs in INTBREW (-10.00%), DANGSUGAR (-1.61%), and WAPCO (-0.45%), which offset shopping for curiosity in UBA (+1.51%), CHAMPION (+8.11%), and AIICO (+6.34%).
Market exercise was notably down, with the transaction quantity and commerce worth decrease by 19.74% and 6.82%, respectively.
CORNERST (-7.83%) dominated the buying and selling exercise, with 908.82 million items, valued at N4.59 billion.
Key market indices:
- All Share Index (ASI): Down -0.22% to 143,210.33 factors
- Market Capitalization: Down -0.22% to N91.09 trillion
- 12 months-to-Date (YTD) Change: 39.14%
- Quantity of Trades: Down -19.74% to 466.18 million shares traded
- Complete worth of trades: Down -6.62% to N18.67 billion
- Complete Offers: Up +40.26% to 28,956 offers
- Gainers: 19
- Losers: 26
Prime Gainers:
- NCR: Up +9.97% to N60.10
- Sunassur: Up +9.18% to N4.28
- Champion: Up +8.11% to N14.00
- Mecure: Up +7.58% to 29.80
- Guineans: Up +7.27% to N1.18
Backside Losers:
- Intbrew: Down -10.00% to N10.35
- RT Brisco: Down -9.8% to N3.10
- Cornerstone: Down -7.83% to N5.53
- Daar Comm: Down -6.52% to N0.86
- Regalis: Down -4.81% to N0.99
Market breadth damaging as losers dominate
The buying and selling session closed with extra laggards than advancers, highlighting investor warning. A complete of 26 shares recorded losses towards 19 gainers.
The sell-off was most pronounced within the Client and Insurance coverage counters, with Worldwide Breweries (-10.00%) main the decliners, adopted by RT Briscoe (-9.8%), and Cornerstone Insurance coverage (-7.83%), which was closely offered off after final week’s institutional accumulation.
Regardless of the damaging sentiment, elevated block trades had been noticed in choose monetary shares, indicating ongoing accumulation by institutional traders’ curiosity within the shares embrace Wema Bank, AccessCorp, Constancy, and Zenith Bank.
On November 28, the market posted a acquire of N180 billion in market capitalization and closed at N91.29 trillion, supported by modest good points within the Client (+0.57%), Banking (+0.25%), and Industrial sectors.
Nevertheless, the Insurance coverage sector, which paradoxically recorded the biggest commerce and dominated total turnover, nonetheless closed negatively, highlighting structural weaknesses and speculative trades within the counter.
Monday’s reversal mirrors the bearish development seen in latest weeks and has continued into December.
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