Investors Lose N293bn As 29 Stocks Decline on Nigerian Exchange
- The NGX extended its losing streak to two sessions on Wednesday, shedding N293.43 billion as investors sold off shares in major companies
- Okomu Oil, Nascon Allied Industries and all five FUGAZ banks led the decline, pushing the NGX All-Share Index down by 0.18%
- UPL, Caverton Offshore Support and Abbey Mortgage Bank were among the top gainers, while trading volume and value fell by 23.28% and 24.88%, respectively
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market closed negatively for the second consecutive session on Wednesday, November 11, 2026, as losses in banking, consumer goods and oil stocks dragged down market performance.
Data from the Nigerian Exchange showed that the market lost N293.43 billion in value as investors continued to sell off shares of major listed companies.
Source: Getty Images
At the close of trading, the NGX All-Share Index (ASI) declined from 252,313.16 points to 251,861.24 points, while market capitalisation fell from N163.82 trillion to N163.53 trillion.
The market's year-to-date return remained positive at 61.85%, while market capitalisation recorded a 64.56% gain over the same period.
NGX sector performance breakdown
- Five of the six sector indices closed lower.
- The Oil and Gas Index was the only sectoral gainer.
- Banking stocks recorded widespread losses, with all five FUGAZ banks closing in the red.
- Consumer goods stocks also came under pressure, with Nascon Allied Industries among the biggest losers.
NGX top losers
- Okomu Oil fell from N1,276.20 to N1,148.60, shedding N127.60 (–10.00%).
- Enamelware dropped from N36.65 to N33.00, losing N3.65 (–9.96%).
- Nascon Allied Industries declined from N183.50 to N167.00, shedding N16.50 (–8.99%).
- FTN Cocoa fell from N7.42 to N6.80, losing N0.62 (–8.36%).
- VFD Group dropped from N12.00 to N11.20, shedding N0.80 (–6.67%).
NGX top gainers
- UPL advanced from N4.55 to N5.00, gaining N0.45 (+9.89%).
- Caverton Offshore Support rose from N3.35 to N3.65, adding N0.30 (+8.96%).
- Abbey Mortgage Bank increased from N6.35 to N6.90, gaining N0.55 (+8.66%).
- Champion Breweries climbed from N9.35 to N10.15, adding N0.80 (+8.56%).
- Ecobank Transnational Incorporated (ETI) advanced from N70.00 to N74.85, gaining N4.85 (+6.93%).
FUGAZ banks extend losses
All five major tier-one banks, popularly known as FUGAZ, closed lower as selling pressure continued across the banking sector.
- First HoldCo fell from N107.00 to N103.00, losing N4.00 (–3.74%).
- United Bank for Africa (UBA) declined from N42.00 to N41.00, shedding N1.00 (–2.38%).
- Access Holdings dropped from N27.55 to N27.10, losing N0.45 (–1.63%).
- Zenith Bank slipped from N116.50 to N115.90, shedding N0.60 (–0.52%).
- GTCO declined from N119.90 to N119.50, losing N0.40 (–0.33%).
Fidelity Bank also closed lower, falling 0.40% to N24.70 from N24.80.
Source: Facebook
Most active stocks on NGX
A total of 418.35 million shares valued at N22.83 billion were exchanged in 30,908 deals.
- Honeywell Flour Mills led trading with 75.96 million shares valued at N2.59 billion.
- GTCO exchanged 38.23 million shares worth N4.57 billion.
- Sovereign Trust Insurance traded 28.55 million shares valued at N70.39 million.
- Champion Breweries recorded 24.50 million shares worth N249.05 million.
- Access Holdings traded 23.08 million shares valued at N629.72 million.
Trading activity weakened compared with Tuesday, as volume declined by 23.28%, value traded fell by 24.88%, and the number of deals dropped by 2.01%.
Source: Legit.ng
