Stock Market: Red Dominates Before December

By Fabrice Laretif

Date: Monday, December 1, 2025 - 11:34 AM

After two consecutive sessions of decline, the stock exchange is set to open lower on Monday, December 1, with a mixed trading volume and contrasting variations among key stocks.

The stock market is expected to start in the red for the first session of December, continuing from a month-end marked by two successive drops. On November 27, only the Semtri and Sem10 ended in the green, while most stocks declined. A total of 1.14 million shares changed hands for Rs 41 million.

A few stocks managed to resist. Bluelife rose by 2.17%, NIT by 0.46%, Omnicane by 0.79%, POLICY by 0.50%, and SBMH by 2.50%. However, declines prevailed. Emtel dropped by 0.22%, ER Group by 0.44%, Fincorp by 0.54%, IBL by 0.32%, MCB by 0.06%, MDIT by 1%, NMH by 0.35%, PBL by 0.94%, and Terra by 6.13%. This widespread decline created a climate of caution as December approaches.

The following session on November 28 did not reverse the trend. The market again declined, with 1.05 million shares traded for Rs 52 million. Trading volumes were notably driven by 550,000 shares of MDIT, 147,780 of NMH, and 83,765 of MCB.

Regarding influential variations, Ascencia lost 0.26%, ER Group 3.08%, Lottotech 3.80%, NMH 1.42%, POLICY 2.50%, RIVEO 1.19%, SBMH 0.30%, and SUN 2.31%. However, some increases were observed: LUX gained 1.63%, MDIT 1.01%, Terra 0.26%, PAD 0.22%, and MCB 0.06%.

Replacement Shares: Deadline for MCB Shareholders in Early December

Ordinary shareholders of MCB have a new option under the share dividend program approved by the board on September 28, 2021. This program allows them to receive replacement shares instead of cash dividends, according to the terms set out in the program rules.

On September 26, 2025, the board approved the issuance and listing of up to 8,500,000 replacement shares. These book-entry shares will rank equally with existing ordinary shares and will offer the same voting and economic rights. Holders will thus be able to vote on issues submitted to shareholders, receive dividends, and participate in the distribution of excess assets in the event of liquidation. The shares will be registered and freely transferable. No fractional shares will be issued; they will be rounded down to the nearest whole share, and the corresponding value will be paid in cash.

The deadline for returning the election form is set for December 5, 2025. The payment, credit, or issuance of replacement shares will occur on December 19, with the first trading day scheduled for December 22.

Currently, MCB has 87,822,424 redeemable convertible preferred shares without voting rights, convertible into ordinary shares under the prospectus dated December 23, 2019. Shareholders are encouraged to meet the deadline to exercise their choice.

Harwood Investments Buys Back 2,909 Class A Participating Shares

Harwood Investments has repurchased 2,909.34 Class A non-voting shares for a total of €4,158,251.01. After the operation, 7,090.66 participating shares of this class remain outstanding. The buyback was financed from existing cash reserves.