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.
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.
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:
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.