Market capitalisation of Nigerian Stock Exchange (NSE) was down month-on-month in November by 4.9 percent, meaning the net worth of investors on the nation’s bourse dropped in the period.
Sell-off pressure resulting from the uncertainties around the forth coming 2019 election coupled with the Yuletide celebrations is said to have slowed NSE market cap to N11.271 trillion in November 2018 from N11.852 trillion in October.
The NSE All-Share Index shed 1,592.1 points from its month opening of 32,466.27 to a close at 30,874.17, resulting from losses posted during the review month.
Analysis on the price activity revealed that Diamond Bank, Eterna Oil, Ikeja Hotel, Lafarge Africa, Niger Insurance, C & I Leasing, Union Diagnostic, NEM Insurance, and AG Leventis were the top losers in the period.
Diamond Bank dropped by 53.24 percent to close at 65k compared to N1.39 opening price, this made the stock the worst performing stock in percentage terms.
Eterna Oil dropped 30.58 percent, Cement Company of Northern Nigeria shed 27.86 percent, while Ikeja Hotel, Lafarge Africa, Niger Insurance, C & I Leasing, Union Diagnostic, NEM Insurance and AG Leventis, all reported a drop in their various stocks.
On the other hand, Continental Reinsurance, GSK, MC Nicholas, May & Baker, CAP, Beta Glass, NAHCO, Nestle, Presco and AXA Mansard Insurance were the top gainers in the review month.
Continental Reinsurance was the best performing stock in percentage terms; it grew by 35.14 percent to close at N2 per share on the strength of its expansion drive and improvement in earnings.
GSK followed in line with 17.89 percent to close at N14.50, while MC Nicholas was up 14.68 percent to close at 47k per share.
May & Baker, CAP, Beta Glass, NAHCO, Nestle, Presco and AXA Mansard Insurance, made the list of top gainers, as their various stock were up in the review month.
Meanwhile, the Nigerian Stock Exchange All Share Index closed yesterday up by 0.47 percent. Major gainers are Veritas Kapital Assurance and Diamond Bank, while losers are CCNN and Trans-Nationwide Express.
