By the end of trading on November 29, 2024, the ASI stood at 97,506.87 points, a slight decline from its opening level of 97,650.66.
Despite the decline, trading activity surged, with a total volume of 10.8 billion shares exchanged in November—an increase of 28.74 percent compared to October’s 8.3 billion shares. Market capitalization remained strong, holding above ₦59.1 trillion.
Year-to-date, the ASI has delivered impressive gains of over 30.4 per cent, underscoring the market’s resilience despite November’s flat performance.
While the NGX Main Board Index and NGX 30 declined by 0.87 per cent and 0.04 per cent respectively, the NGX Premium Index advanced by 1.49 per cent.
NGX Insurance Index: Up 9.11 per cent, driven by SUNU ASSURANCES and PRESTIGE.
NGX Banking Index: Rose 3.39 per cent, boosted by ZENITH and UBA shares, both gaining over 9 per cent.
NGX Oil & Gas Index: Increased by 3.20 per cent, led by CONOIL.
NGX Industrial Goods Index: Up 2.14 per cent.
NGX Consumer Goods Index: Grew 2.40 per cent, with CADBURY and UNILEVER each posting gains of over 15 per cent.
Leading gainers for the month included:
JOHNHOLT PLC: +170.30 per cent
SUNU ASSURANCES: +86.60 per cent
LAFARGE AFRICA: +50.04 per cent
CONOIL: +45.80 per cent
PRESTIGE: +35.59 per cent
Other notable gainers included Flour Mills (+30.81%) and Cadbury Nigeria (+29.88%).
On the losing side, OANDO experienced a sharp decline of 27.55 per cent. Other significant decliners included:
ABBEY MORTGAGE BANK: -26.15%
MULTIVERSE: -25.79 per cent
ETERNAOIL: -24.36 per cent
RTBRISCOE: -18.03 per cent
November saw several key corporate disclosures:
FBN Holdings, Cadbury Nigeria, Zenith Bank, and Access Holdings released Q3 financial results.
Oando Plc and Seplat Energy provided updates on interim dividends and exchange rates.
MTN Nigeria completed its issuance of Series 11 and 12 commercial papers.
The ASI’s recent retracement signals a consolidation phase within its broader upward trend. Analysts anticipate a potential rebound in the coming months, with the continued strength of large-cap stocks likely to drive a return to bullish momentum.
