The Nigerian inventory market ended the week on a bearish observe, shedding 3,290.97 factors to shut at 143,722.62, regardless of a stable 60.6% rally in NCR (Nigeria) Plc.
Tracked by the All-Share Index, the market slipped 2.24% from 147,013.59, dropping under the 145,000 mark as soon as once more and increasing its dropping streak to 4 weeks.
Buyers traded 2.6 billion shares valued at N106.2 billion through the week, considerably decrease than the earlier week’s 7.3 billion shares value N156.4 billion.
Market capitalization additionally mirrored the bearish sentiment, dropping to N91.4 trillion from N93.5 trillion per week earlier.
Total, the market closed the week beneath agency bearish strain, bringing its year-to-date efficiency to 39.64%.
The Nigerian All-Share Index closed each buying and selling day within the week ended November 21 in damaging territory.
The NGX Premium Index fell 4.79%, pushed largely by notable declines in heavyweights: ACCESSCORP dropped 10.9%, DANGOTE CEMENT misplaced 10%, UBA was down 7.75%, and ZENITH BANK fell 6.64%. MTN, FIRSTHOLDCO, and UBA posted smaller losses of beneath 3%.
Sectoral efficiency
The NGX Banking Index declined 3.85%. ACCESSCORP dropped 10.9%, ZENITH BANK misplaced 6.64%, and WEMA BANK fell 5.53%, whereas FCMB and GTCO posted softer losses of beneath 3%.
Additionally ending decrease had been the NGX Oil & Fuel Index and the NGX Client Items Index, down 1.61% and 0.44% respectively.
Main the pack was NCR (NIGERIA) PLC, which soared 60.55% week-to-date, marking a standout efficiency and shutting at N41.10. UNIVERSITY PRESS PLC adopted with a 17.65% achieve, ending the week at N6.00.
Different main gainers included:
On the flip facet, INTERNATIONAL ENERGY INSURANCE PLC led the laggards, shedding 22.06% week-to-date to shut at N2.12. MCNICHOLS PLC adopted with a 14.90% decline, ending the week at N2.57.
Different notable decliners had been:
The week featured few company disclosures and sector-wide developments:
Market outlook
The Nigerian All-Share Index continues to face persistent bearish strain, with the danger of additional declines if damaging sentiment persists.
That mentioned, a rally in choose mid- and large-cap shares might present much-needed help, probably serving to the index regain the 150,000 stage within the close to time period.
