The Nigerian equities market misplaced N293.43 billion on Wednesday, November 11, 2026, as promoting strain in Okomu Oil, Nascon Allied Industries and FUGAZ banks prolonged the earlier session’s decline.
The NGX All-Share Index (ASI) declined by 0.18% to 251,861.24 factors from 252,313.16 factors. Market capitalisation fell to N163.53 trillion from N163.82 trillion.
Okomu Oil led the laggards, dropping 10.00% and shedding N127.60 to shut at N1,148.60 from N1,276.20. Nascon fell 8.99%, shedding N16.50 to shut at N167.00 from N183.50.
All 5 Tier 1 banks popularly generally known as the FUGAZ banks (First HoldCo, UBA, GTCO, Access and Zenith) closed decrease, led by First HoldCo, which fell 3.74% and shed N4.00 to shut at N103.00 from N107.00.
- UBA fell 2.38% to N41.00 from N42.00, whereas Access Holdings dropped 1.63% to N27.10 from N27.55.
- Zenith Bank declined 0.52% to N115.90 from N116.50, GTCO shed 0.33% to N119.50 from N119.90.
- Fidelity Bank additionally added to the losses, shedding 0.40% to N24.70 from N24.80.
Consequently, market sentiment turned unfavourable, with 22 gainers towards 29 losers. Five of the six sector indices declined, and the Oil/Gas index was the one gainer.
Highlights of market efficiency:
ASI: 251,861.24 factors; down 0.18% from 252,313.16 factors.
- ASI YTD acquire: 61.85%.
- Market Capitalisation: N163.53 trillion; down 0.18% from N163.82 trillion.
- Market cap YTD acquire: 64.56%.
- Deals: 30,908 transactions, down 2.01% from 31,543.
- Volume Traded: 418.35 million shares, down 23.28% from 545.30 million.
- Value Traded: N22.83 billion, down 24.88% from N30.39 billion.
- Market Breadth: Negative, with 22 gainers towards 29 losers.
Top 5 Gainers:
- UPL: up 9.89%, from N4.55 to N5.00.
- Caverton Offshore Support: up 8.96%, from N3.35 to N3.65.
- Abbey Mortgage Bank: up 8.66%, from N6.35 to N6.90.
- Champion Breweries: up 8.56%, from N9.35 to N10.15.
- Ecobank Transnational Incorporated (ETI): up 6.93%, from N70.00 to N74.85.
Top 5 Losers:
- Okomu Oil: down 10.00%, from N1,276.20 to N1,148.60.
- Enamelware: down 9.96%, from N36.65 to N33.00.
- Nascon Allied Industries: down 8.99%, from N183.50 to N167.00.
- FTN Cocoa: down 8.36%, from N7.42 to N6.80.
- VFD Group: down 6.67%, from N12.00 to N11.20.
More insights:
The market’s decline was once more concentrated in banking stocks. First HoldCo recorded the sharpest fall among the many main banks, dropping 3.74% to N103.00.
- First HoldCo extends its Tuesday loss, so the inventory has shed about 5.5% over two periods from N109.00.
- Okomu Oil was the largest drag outdoors banking, shedding N127.60 per share.
- However, good points in different large-cap stocks restricted the broader decline.
- ETI added 6.93%
- Wema Bank rose 3.45% to N33.00
- Oando gained 1.08% to N37.40
- Transcorp superior 0.94% to N32.30
- Stanbic IBTC added 0.56% to N160.90
- Abbey Mortgage Bank and Caverton Offshore Support, each amongst Tuesday’s losers, rebounded into the gainers’ chart.
Volume and worth:
Trading exercise weakened throughout all measures. Volume fell 23.28% to 418.35 million shares, reversing Tuesday’s 20.29% improve.
Value traded declined 24.88% to N22.83 billion, whereas offers slipped 2.01% to 30,908.
The sharp drop in quantity and worth suggests restricted shopping for conviction throughout the session.
Sectoral efficiency:
Banking was the weakest main sector, whereas Oil/Gas was the one one to achieve.
- Banking stocks declined 0.60% to 2,345.43 factors.
- Commodity stocks fell 0.55% to 1,848.95 factors.
- Insurance stocks misplaced 0.29% to 1,050.61 factors.
- Consumer items stocks slipped 0.15% to three,957.52 factors.
- Oil and gasoline stocks added 0.03% to five,879.41 factors.
Industrial stocks closed flat at 12,336.71 factors.
What it’s best to know:
Wednesday’s decline adopted Tuesday’s N93.23 billion loss, moderating the market’s year-to-date return to 61.85% from 62.14%. Month-to-date, the ASI is down about 1%.
- First HoldCo, UBA, Access Holdings, Zenith Bank, Fidelity Bank and GTCO all closed decrease, pulling the banking index down 0.60%.
- Breadth turned unfavourable, and insurance coverage, which gained 1.33% on Tuesday, reversed to a 0.29% loss.
- Volume, worth and deal depend all declined.
Bargain-hunting in essentially sound stocks may help a near-term rebound and reasonable additional losses. Continued promoting in banking and client counters, together with subdued buying and selling exercise, might preserve the market cautious.
