Aradel Secures N21.4 Billion in Deals as Cement Stocks Drag Market Down 1.26%

The Nigerian stock market opened the week on a negative note as the All-Share Index (ASI) slipped 1.26% on Monday, November 17, shedding 1,853.82 points to close at 145,159.77. The downturn was driven largely by a sharp 10% decline in Dangote Cement, which dragged the broader market into the red.

Trading activity also softened. Total market volume fell sharply to 388.1 million units, down from 671 million shares traded on Friday. Market capitalization followed the same trajectory, easing to N92.3 trillion from the previous session’s N93.5 trillion across 28,492 deals.

Despite the bearish sentiment, a handful of stocks posted notable gains. Sovereign Trust Insurance and NCR (Nigeria) led the chart, rising 9.97% and 9.96% respectively. On the losers’ table, Nigerian Enamelware and Dangote Cement both sank 10%.

Tantalizers and Aradel dominated the volume chart, with the latter also emerging as the day’s most valuable stock, recording transactions worth N21.4 billion.

Market Summary

• Current ASI: 145,159.77

• Previous ASI: 147,013.59

• Day Change: -1.26%

• Year-to-Date: +41.03%

• Volume Traded: 388.1 million shares

• Market Cap: N92.32 trillion

Top Gainers

• SOVRENINS: +9.97% → N3.20

• NCR: +9.96% → N28.15

• TANTALIZER: +9.81% → N2.35

• PRESTIGE: +9.70% → N1.47

• EUNISELL: +8.52% → N79.00

Top Losers

• ENAMELWA: -10.00% → N40.50

• DANGCEM: -10.00% → N534.60

• TRANSCORP: -4.66% → N43.00

• AIICO: -4.11% → N3.50

• GUINEAINS: -3.97% → N1.21

Most Active Stocks (Volume)

• TANTALIZER: 57.1 million shares

• ARADEL: 30.4 million shares

• GTCO: 21.7 million shares

• ASO SAVINGS: 20 million shares

• STERLINGNG: 15.5 million shares

Top Stocks by Value

• ARADEL: N21.4 billion

• GTCO: N1.8 billion

• PRESCO: N1.2 billion

• ZENITHBANK: N834.8 million

• SEPLAT: N554.8 million

SWOOT and FUGAZ Performance

Large-cap Stocks Worth Over One Trillion Naira (SWOOTs) mostly traded lower, with Dangote Cement sliding 10% and Aradel dipping 0.38%.

Weak sentiment also persisted among the FUGAZ banks:

• ACCESSCORP: -3.26%

• FIRSTHOLDCO: -2.76%

• ZENITHBANK: -1.64%

• GTCO: -0.58%

• UBA: -0.25%

Market Outlook

Bearish momentum remains in place, and the ASI could test the 141,000 support zone if sell pressure in heavyweight stocks continues. Even so, analysts note that a rebound is still possible, particularly if currently retracing stocks resume their upward trend—potentially lifting the index back toward the 150,000 mark.