Nigerian Stocks end a November in red, first time since 2018 

This is the first time the All Share Index has closed the month of November in red since 2018 snapping a 5-year winning streak 

By the close of trading on November 29, 2024, the All-Share Index stood at 97,506.87 points, marking a slight decrease month-to-date from an opening of 97,650.66. 

Market activity surged as total trading volume reached 10.8 billion shares, reflecting a 28.74% increase from the 8.3 billion shares recorded in October.  

Despite the lackluster price movements, the market’s overall capitalization remained robust, staying above the N59.1 trillion mark.   

Year-to-date, the All-Share Index has shown an impressive growth of over 30.4%, reflecting a strong underlying performance despite the relatively flat price action in November.  

November saw a brief lull in overall price activity, with the broader index experiencing limited movement. This subdued momentum was reflected across the sub-indexes, which closely followed the flat trend of the main index.   

In the month under review, the NGX Main Board Index and NGX 30 experienced declines of 0.87% and 0.04%, respectively. In contrast, the NGX Premium Index demonstrated a more robust performance, advancing by 1.49%. 

Despite the general stagnation, several sectors posted notable gains.   

Leading the charge among gainers was JOHNHOLT PLC, which saw an impressive surge of 170.30% over the month. SUNU ASSURANCES followed closely, rising by 86.60%, while LAFARGE AFRICA posted a notable gain of 50.04%.  

Other gainers included:  

CONOIL: Up by 45.80% (closing at N276.00)  

PRESTIGE: Up by 35.59% (closing at N0.80)  

CONSOLIDATED HALLMARK: Up by 35.14% (closing at N2.00)  

FLOUR MILLS OF NIGERIA: Up by 30.81% (closing at N81.10)  

CADBURY NIG: Up by 29.88% (closing at N21.30)  

CADBURY NIG: Up by 29.88% (closing at N21.30)  

MANSARD INSURANCE: Up by 19.32% (closing at N7.04)  

DANGOTE SUGAR: Up by 13.64% (closing at N35.00)     

At the opposite end of the spectrum, OANDO topped the list of decliners, suffering a significant drop of 27.55%. Other notable losses were recorded in ABBEY MORTAGE BANK, which declined by 26.15%, and MULTVERSE, which saw a decrease of 25.79%.  

Other decliners included:  

ETERNAOIL: Down by 24.36% (closing at N20.80)  

RTBRISCOE: Down by 18.03% (closing at N2.50)  

LASACO ASSURANCE PLC: Down by 16.47% (closing at 2.13)  

VERITAS KAPITAL: Down by 15.49% (closing at N1.20)  

DEAP CAPITAL MANAGEMENT TRUST: Down by 15.20% (closing at N1.06)  

DAARCOMM: Down by 10.29% (closing at 0.61)  

MEYER: Down by 9.98% (closing at N7.67)  

A range of corporate actions unfolded in November, with the release of third-quarter results comprising the bulk of the key disclosures for the month.