The Nigerian equities market gained over N307 billion on Wednesday, November 4, 2026, extending its positive momentum as gains in Transcorp Power, GTCO, Zenith Bank and UBA lifted the benchmark index higher.

Buying interest in Transcorp Power (+9.97%), GTCO (+5.1%), Zenith Bank (+2.65%) and UBA (+2.68%) supported the market, outweighing losses in Eterna, Sovereign Trust Insurance and other declining stocks.

Consequently, the NGX All-Share Index (ASI) advanced by 0.19% to 254,762.81 points from 254,289.35 points in the previous session. Market capitalisation increased by approximately N307.4 billion to N165.42 trillion.

The market’s year-to-date return rose to 63.72%, while the month-to-date return improved to 0.2%. Market sentiment also strengthened, with 27 advancers outnumbering 23 decliners.

Trading activity was mixed, as volume and transaction value increased, while the number of deals declined. Investors traded 552.31 million shares valued at N37.46 billion in 32,874 transactions.

What the data is saying:

  • ASI: 254,762.81 points; up 0.19% from 254,289.35 points.
  • ASI YTD gain: 63.72%.
  • Market Capitalisation: N165.42 trillion; up 0.19% from N165.11 trillion.
  • Market Capitalisation YTD Gain: 66.45%.
  • Deals: 32,874 transactions; down 15.88% from 39,078 transactions.
  • Volume Traded: 552.31 million shares; up 5.11% from 525.44 million shares.
  • Value Traded: N37.46 billion; up 65.66% from N22.61 billion.
  • Market Breadth: Positive, with 27 gainers against 23 losers.

Top Five Gainers:

  • Transcorp Power: Up 9.97%, from N184.60 to N203.00.
  • Caverton Offshore Support: Up 9.84%, from N3.05 to N3.35.
  • E-Tranzact: up 9.68%, from N15.50 to N17.00.
  • Haldane McCall: Up 7.36%, from N3.26 to N3.50.
  • International Energy Insurance: Up 7.27%, from N1.65 to N1.77.

Top Five Losers

  • Eterna: Down 9.94%, from N42.75 to N38.50.
  • Sovereign Trust Insurance: Down 9.91%, from N2.12 to N1.91.
  • Learn Africa: Down 9.84%, from N9.15 to N8.25.
  • Cornerstone Insurance: Down 9.30%, from N4.30 to N3.90.
  • Mutual Benefits Assurance: down 6.85%, from N2.92 to N2.72.

More insights:

The market’s advance was supported by buying interest in heavyweight banking stocks and Transcorp Power, which recorded the strongest price gain during the session.

  • GTCO gained 5.1%, while Zenith Bank rose 2.65% to N120.00.
  • UBA advanced 2.68% to N42.10, and Fidelity Bank added 1.69% to N24.00.
  • Wema Bank also gained 1.25% to close at N32.40.

Other notable gainers included Honeywell Flour, which rose 4.04% to N24.45, and Transcorp, which added 0.17% to N30.05.

Sectoral performance:

Banking stocks led sectoral gains, with the Banking Index rising 0.72% to 2,403.98 points.

  • Commodity stocks advanced 0.63% to 1,858.91 points.
  • Insurance stocks declined 0.54% to 1,019.09 points.
  • Consumer goods stocks shed 0.11% to 3,966.50 points.
  • Oil and gas stocks dipped 0.07% to 5,854.47 points.
  • Industrial stocks closed flat at 12,606.99 points.

On the losing side, Eterna recorded the steepest decline, shedding 9.94% to N38.50. Sovereign Trust Insurance and Learn Africa also lost nearly 10% each.

Volume and value:

Trading activity improved in value and volume terms.

  • The total volume traded rose 5.11% to 552.31 million shares.
  • Transaction value increased 65.66% to N37.46 billion.
  • Zichis was the most traded stock by volume, with 127.48 million shares.
  • First HoldCo led trading by value, recording N12.67 billion.

However, deal count declined 15.88% to 32,874 transactions, indicating fewer transactions despite the increase in overall market turnover.

What you should know:

Wednesday’s gains extended the modest rebound seen in the previous session on Tuesday, when the market gained N28.65 billion in market value as renewed buying in select heavyweight stocks recovered most of Monday’s losses.

Higher trading volume and transaction value pointed to increased market turnover, although deal count declined.

Sustained buying in heavyweight banking stocks could support further market gains.

However, mixed sectoral performance and continued losses in selected counters may limit the market’s near-term upside.