Market Performance in November 2023


The Nigerian Equities Market shows a growth of 3.07% at the end of the month in its All-Share Index with an impressive year-to-date (YTD) at 39.25%, market opened at the trading month at 69,236.19 at the beginning of trading on November 1,2023 and closed at 71.365.25

Notable highlights during the month are:
• On the first trading day of this month, the ASI surges pass 70,000 points with market closing at 1.94% and market capitalization at the beginning and closed of the month at N38.04 trillion and 39.051 trillion respectively to pose a growth of 1.19% month-on-month.
• PZ Cussons Nigeria Plc offer to acquire shares held by other shareholders of PZ Cussons Nigeria Plc subject to prevailing market conditions at an offer price of ₦21 per share
• Listing of 4 billion ordinary shares of 50 Kobo by the pharmaceutical and nutraceutical manufacturing company, Mecure Industries Limited at N2.96 per share on the NGX .
• The Market was notified of the full suspension placed on trading in the securities of Union Bank of Nigeria Plc (Union Bank or the Bank) in preparation for the delisting of the Bank.
Investors’ resilience and confidence however remained unscathed even at the interest and inflation rate hikes. Buying activity remained active, this could be attributed to policies introduced by President Bola Tinubu’s administration: the floating of the Naira, removal of fuel subsidies among others.

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