NGX Market Declines As First HoldCo, Zenith Bank Stocks Face Selling Pressure
- The NGX All-Share Index declined by 0.06% to 252,313.16 points, while market capitalisation fell to N163.82 trillion.
- First HoldCo, Stanbic IBTC, Zenith Bank and NAHCO led the selling pressure, despite 32 gainers outperforming 21 decliners.
- Champion Breweries, Honeywell Flour and CMFC topped the gainers, while NAHCO, Red Star Express and LivingTrust led the losers.
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks and general market trends.
The Nigerian stock market shed N93.23 billion on Tuesday, November 10, 2026, as selling pressure in banking stocks and NAHCO reversed part of the previous session's gains.
Market capitalisation declined from N163.92 trillion on Monday to N163.82 trillion, while the benchmark All-Share Index (ASI) lost 143.58 points to close at 252,313.16 points, down from 252,456.74 points.
Source: Getty Images
Despite the decline, market sentiment remained positive, with 32 stocks recording gains against 21 decliners.
First HoldCo led the losses among major banking stocks, falling by 1.83% to N107.00 from N109.00.
Snapshot of market performance
- All-Share Index: 252,313.16 points, down 0.06% from 252,456.74 points.
- Market capitalisation: N163.82 trillion, down from N163.92 trillion.
- ASI year-to-date gain: 62.14%.
- Market capitalisation year-to-date gain: 64.85%.
- Trading volume: 545.30 million shares, up 20.29% from 453.31 million.
- Trading value: N30.39 billion, down 0.54% from N30.55 billion.
- Total deals: 31,543 transactions, down 26.46% from 42,891.
- Market breadth: Positive, with 32 gainers against 21 losers.
NGX top gainers
- Champion Breweries Plc rose by 10.00% to N9.35 from N8.50.
- Honeywell Flour Mills Plc gained 9.90% to N32.20 from N29.30.
- CMFC advanced by 8.75% to N3.23 from N2.97.
- Sovereign Trust Insurance Plc increased by 8.41% to N2.32 from N2.14.
- UPL rose by 8.33% to N4.55 from N4.20.
NGX top losers
- NAHCO Plc fell by 9.99% to N136.10 from N151.20.
- Red Star Express Plc declined by 9.85% to N12.35 from N13.70.
- LivingTrust Mortgage Bank Plc dropped by 9.79% to N2.58 from N2.86.
- Abbey Mortgage Bank Plc lost 5.22% to N6.35 from N6.70.
- Caverton Offshore Support Group Plc declined by 4.29% to N3.35 from N3.50.
Source: Getty Images
NGX trading activity
Trading volume increased despite declines in transaction value and the number of deals.
Neimeth International Pharmaceuticals led trading volume with 79.86 million shares exchanged, accounting for 14.65% of total market volume.
First HoldCo dominated trading value with transactions worth N6.31 billion, representing 20.77% of the total value traded.
Other actively traded stocks by volume included:
- First HoldCo: 57.76 million shares.
- Mecure Industries: 46.52 million shares.
- United Bank for Africa: 38.33 million shares.
- Access Holdings: 23.54 million shares.
Dangote refinery sets December 8
Earlier, Legit.ng reported that Nigerian investors could begin buying and selling shares in Dangote Petroleum Refinery and Petrochemicals from December 8, 2026, as the company prepares for a historic listing on the Nigerian Exchange Limited (NGX).
The proposed listing follows the closure of the refinery's N2.15 trillion initial public offering (IPO), potentially making it one of the most valuable companies on Nigeria's stock market.
According to the revised offer timetable, the refinery is targeting early December for its shares to commence trading.
Source: Legit.ng
