L – R: Olurotimi Kuti, Listings Regulation, The Nigerian Stock Exchange(NSE); Tunde Oyediran, NSBAG; Akin Alabi, Managing Partner, Corporate Farmers International; Tunji Kazeem, Chief Risk Officer, The Nigerian Stock Exchange (NSE); Bolaji Akinrobo, Co-Founder Cellulant Incorporation; Melone Chioma, Marketing Operations Manager, Cellulant incorporation; Prince Ade Ajayi, National Coordinator, Corporate Farmers International; Faith Pella, Chief Operation Officer; Sunday Akinmusire, Cellulant Incorporation; Solomon Kugbe, Secretary General, NSBAG during the Closing Gong Ceremony at the Exchange Thursday.

The Nigerian bourse started the month of November on a bearish note, as sell-offs pervaded the market last week. The NSEASI recorded a loss of 2.49% to settle the YtD return at -16.00%. Market breadth (0.32x) skewed in favour of the laggards, with seventeen (17) gainers, against fifty-three (53) losers in the week.
PRESCO led the gainers’ table, advancing by 12.92% to close at NGN59.85. Neimeth (+11.11%), Airservice (+10.00%), CI Leasing (+9.80%), and Livestock (+9.62%) also closed on the gainers’ chart.
Conversely, Unity Bank led the laggards last week, with a price decline of 21.11% to close at NGN0.71. The ticker was closely trailed by Dangote Flour (-21.09%), CCNN (-18.84%), Meyer (-17.65%), and Diamond Bank (-16.67%) in that order.
The market snapped a three-week gaining streak during the week due to the sell-offs across the counters. The spate of unimpressive earnings results during the week, especially in the consumer goods sectors, was a major factor for the downbeat mood in the market.


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