By Dipo Olowookere
The trading indices of the Nigerian Exchange (NGX) Limited closed lower by 0.05 per cent on Tuesday, November 30, 2021, followed by profit-taking by investors.
During the session, the All-Share Index (ASI) declined by 22.89 points to 43,248.05 points from 43,270.94 points, while the market capitalisation went down by N12 billion to N22.567 trillion from N22.579 trillion.
The decline reported by the market yesterday was mainly from the losses posted in three of the five major sectors, with the energy, consumer goods and industrial goods counters going down by 0.40 per cent, 0.21 per cent and 0.04 per cent respectively, while the insurance and banking sectors rose by 1.64 per cent and 0.26 per cent respectively.
UPDC REIT ended the day as the worst-performing stock after losing 9.89 per cent to trade at N4.10, Ikeja Hotel declined by 9.63 per cent to N1.22, UPDC declined by 9.32 per cent to N1.07, Chams dropped 9.09 per cent to sell for 20 kobo, while Union Bank fell by 6.19 per cent to N4.55.
On the flip side, AIICO Insurance closed as the best-performing stock with a price appreciation of 9.21 per cent to trade at 83 kobo, Access Bank gained 4.40 per cent to sell for N9.50, Coronation Insurance grew by 4.17 per cent to 50 kobo, Ecobank appreciated by 3.73 per cent to quote at N8.35, while FCMB gained 3.33 per cent to close at N3.10.
It was observed that the level of activity increased on Tuesday despite the loss as the number of deals rose by 5.51 per cent to 4,331 deals from 4,105 deals, the volume of shares increased by 5.53 per cent to 224.9 million units from 213.1 million units, while the value of the transactions grew by 57.16 per cent to N3.7 billion from N2.4 billion.
At the close of business, Access Bank was the most active stock as it traded 42.2 million units valued at N389.7 million, Zenith Bank exchanged 16.9 million units worth N935.4 million, FBN Holdings transacted 16.9 million units valued at N198.7 million, GTCO traded 16.7 million units for N414.0 million, while AIICO Insurance transacted 12.9 million units worth N10.5 million.
