Stock market begins November bearish, dips by 0.2 per cent

Equities trading on the Nigerian Stock Exchange (NSE) started the week and the month of November on a negative note as its All Share Index (ASI) dipped by 0.17 per cent to close at 30,479.39 basis points amid renewed bearish activity.

Hence, the year to date gain of the NSE ASI fell to 13.55 per cent, just as the market capitalisation closed at N15.93 trillion, after losing N26.81billion.

Market activity as measured by market breadth was also negative with the numbers of losers outweighing that of the gainers by 26 against 21 as investors sold part of their holdings to book profit given the recent price increase.

ALSO READ: Two Nigerians charged over COVID-19 PPE multi-million dollar fraud

On the performance chart, C&I Leasing and FCMB Holdings topped the declines list, having dipped its stock value by ten per cent and 9.9 per cent respectively, while Livestock and Dangote Sugar recorded the largest gains of the day having appreciated by 9.8 per cent respectively.

Of the five indices tracked, three closed in red; the NSE Banking, NSE Oil/Gas and NSE Industrial indices declined by 0.78 per cent, 1.21 per cent and 0.06 per cent respectively.

On the positive side, the NSE Insurance and NSE Consumer Goods rose by 0.70 per cent and 0.53 per cent respectively.
Meanwhile, market activity was weak as the total volume and value of stocks traded fell by 53.37 per cent and 63.79 per cent to 0.37 billion unit and N3.8 billion respectively.

Fidelity Bank was the most traded stock by volume at 49.90 million units, while Zenith Bank was the most traded stock by value at N1.03 billion.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

COVID-19: Nigeria Recorded 623 New Infections Last Week, Lowest In Six Months

Last week, Nigeria recorded 623 new COVID-19 infections which is the lowest the country has recorded in six months, Tribune Online analysis shows.

The 623 new cases reported between October 18 and 24 is a reduction from the 1,143 recorded the previous week…

Gbajabiamila Calls For Amendment Of Federal Character Laws

The Speaker of the House of Representatives, Hon. Femi Gbajabiamila has underscored the urgent need for review the extant definition of federal character in the Nigerian Constitution….

BREAKING: LG Chairman Abducted In Oyo

Kidnappers, on Sunday night, abducted the chairman of Iganna Local Council Development Area of Oyo State, Mr Jacob Olayiwola Adeleke…

Stock market begins November bearish, dips by 0.2 per cent