Nigerian Stock Market Declines 0.02% at November Start

The Nigerian stock market began November 2026 on a negative note, with the Nigerian Exchange Limited All-Share Index (NGX ASI) declining by 0.02% to close at 254,245.21 basis points. The market capitalization decreased by N35 billion to N165.08 trillion.

This downturn was attributed to price depreciation in large and medium capitalized stocks, including Aradel Holdings (NGX: ARADEL), Nestle Nigeria (NGX: NESTLE), Vitafoam Nigeria (NGX: VITAFOAM), Zenith Bank (NGX: ZENITHBANK), and Guaranty Trust Holding Company (GTCO). Market sentiment was negative, with 41 decliners outnumbering 21 advancers.

Consolidated Hallmark Insurance led the gainers with a 10% increase to close at N7.15 per share, while Champion Breweries (NGX: CHAMPION) and Uni Assurance topped the losers' chart with a 10% decrease each. The total volume traded fell by 48.2% to 517.26 million units, valued at N47.48 billion across 54,015 deals.

Cowry Assets Management Limited indicated that sustained selling pressure and weak market breadth may limit near-term recovery, although selective bargain-hunting could mitigate further losses.