Equities investors earn N1trn in November as ASI adds 3.1% MtD

The Nigerian equities market ends the month positively, as the All Share Index (ASI) appreciated by 3.1 per cent in November to 71,365.25 basis points.

Equities investors therefore gained N1.01 percent cumulatively as the market capitalization of companies quoted on the Nigerian Exchange Limited (NGX) settled at N39.05 trillion on Thursday, the last day of November, as against an opening of N38.04 trillion.

In Thursday’s trading session, the local stock market demonstrated resilience, closing with a positive gain of 0.11 per cent as the benchmark index continued its upward trajectory, reaching 71,365.25 index points.

Equity investors appeared focused on seizing opportunities within the low-cap to mid-cap stocks, which presented attractive entry points as gains in telco heavyweight Airtel Africa, alongside Guaranty Trust Holding Company and Access Holdings, drove the overall market’s performance for the day.

As a result, the year-to-date (YTD) return rose to 39.25 per cent, while market capitalization gained N44.16 billion to close at N39.05 trillion.

As measured by market breadth, market sentiment was negative, with 31 tickers lost relative to 25 gainers. Secure Electronic Technology and Unity Bank recorded the highest losses of the day, having declined in value by 9.7 per cent, while Northern Nigeria Flour Mills and Thomas Wyatt topped the gainers’ list, appreciated by 10.0 per cent and 9.6 per cent, respectively.

Across various sectors, investor sentiment appeared to wane, with negative performances in the Insurance, Banking, Consumer Goods, and Oil & Gas indexes declining by 0.83 per cent, 0.41 per cent, 0.32 per cent, and 0.14 per cent, respectively, due to pressured sell-offs. Conversely, the industrial index closed mildly positive by 0.07 per cent, influenced by renewed sentiment in the sector.

Trading activity on the NGX reflected a substantial increase, with traded volume rising by 49.77 per cent to 540.09 million units, and the total traded value also saw a significant uptick of 54.95 per cent, reaching N10.24 billion.

Despite these positive indicators, the total number of deals experienced a slight decline of 0.96 per cent to 6,516 deals.

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