Oando leads losers’ chart as stocks record N332.7b loss this month

OandoThe equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 0.06 per cent to close at 28,203.20basis points, compared with the 0.47 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 18.62 per cent.

Market breadth closed positive as PZ led 17 gainers against 14 losers topped by Oando at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover closes positive as volume moved up by 21.76 per cent against 10.48 per cent uptick recorded in the previous session. Sterling Bank, FBNH and Access Bank were the most active to boost market turnover. Dangote Cement and Access Bank topped market value list.

Volume shockers included Neimeth which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, analysis on the market capitalization of the five companies delisted so far recorded in 2015 reflected that they represent about 0.37 per cent of the total market capitalization as at 17th November 2015.

The market capitalization of five delisted stocks amounted to N36.42 billion.

While Market has witnessed just one new listings in 2015, analysts say that delisting of securities from the daily official list of the NSE remains one of the negatives that does not usually goes down well with an average investor as it usually results in investment loss more importantly if it’s regulatory in nature.

While delisting can be either regulatory or voluntary, the Nigerian bourse has recorded more of regulatory delistings than voluntary so far in 2015. Out of five of such delisting, three have been regulatory while two have been voluntary.

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