The Nigerian All-Share Index slipped into the red on Monday, November 17, falling by 1,853.82 points to close at 145,159.77 after a sharp 10% drop in Dangote Cement weighed on the market.
The decline represents a 1.26% slide from the previous day’s close of 147,013.6, as trading activity also cooled.
Market volume fell to 388.1 million shares, a steep drop from the 671 million shares exchanged during Friday’s session.
Market capitalization mirrored the downturn, easing to N92.3 trillion across 28,492 deals, down from Friday’s close of N93.5 trillion.
- A few counters, however, bucked the trend. Sovereign Trust Insurance and NCR (Nigeria) led the gainers’ chart, rising 9.97% and 9.96% respectively.
- On the flip side, Nigerian Enamelware and Dangote Cement topped the losers’ log, each shedding 10%.
In the volume lane, Tantalizers and Aradel were the standout movers. Aradel, notably, posted a hefty N21.4 billion in share value, the highest of the day.
Market summary
- Current ASI: 145,159.77
- Previous ASI: 147,013.59
- Day Change: -1.26%
- Year-to-Date Performance: +41.03%
- Volume Traded: 388.1 million shares
- Market Cap: N92.32 trillion.
Top 5 gainers
- SOVRENINS: Up 9.97% to N3.20
- NCR: Up 9.96% to N28.15
- TANTALIZER: Up 9.81% to N2.35
- PRESTIGE: Up 9.70% to N1.47
- EUNISELL: Up 8.52% to N79.00
Top 5 losers
- ENAMELWA: Down 10.00% to N40.50
- DANGCEM: Down 10.00% to N534.60
- TRANSCORP: Down 4.66% to N43.00
- AIICO: Down 4.11% to N3.50
- GUINEAINS: Down 3.97% to N1.21
Trading volume
- Tantalizer led the activity chart with 57.1 million shares, followed closely by Aradel with 30.4 million shares.
- GTCO ranked third with 21.7 million shares, while Aso Savings and STERLINGNG completed the top five with 20 million and 15.5 million shares, respectively.
Trading value
- In terms of transaction value, Aradel dominated the board with trades worth N21.4 billion.
- GTCO followed with N1.8 billion, while PRESCO recorded deals totaling N1.2 billion.
- ZENITHBANK posted N834.8 million, and SEPLAT rounded out the top five with N554.8 million in value traded.
SWOOT and FUGAZ performance
Stocks Worth Over One Trillion Naira (SWOOTs) closed broadly negative, with Dangote Cement plunging 10% and Aradel slipping 0.38%.
Among the FUGAZ group, sentiment was similarly weak:
- ACCESSCORP fell 3.26%, FIRSTHOLDCO declined 2.76%, ZENITHBANK shed 1.64%, GTCO dipped 0.58%, and UBA closed 0.25% lower.
Market outlook
The All-Share Index continues to display bearish momentum and may drift toward the 141,000 support zone if negative sentiment in large-cap stocks persists.
However, a rebound remains possible. A renewed rally in individual stocks currently in retracement could push the index back toward the 150,000 level and beyond.
