The Nigerian equities market opened November trading on a bearish note on Monday, November 2, 2026, as losses in banking, oil and gas, and consumer goods stocks outweighed gains in industrial and insurance counters.

Selloffs in Aradel (-10%), International Breweries (-8.6%), Zenith Bank (-2.5%) and Access Corp (-7.3%) weighed on market performance, dragging the All-Share Index down. Consequently, the Month-to-Date and Year-to-Date returns settled at 0.0% and +63.4%, respectively.

The NGX All-Share Index (ASI) declined by 0.02% to 254,245.21 points, down from 254,299.49 points in the previous session, while investors lost approximately N35.25 billion, reducing market capitalisation to N165.08 trillion with year-to-date in market capitalisation at 66.11%.

Trading activity was mixed, as deal count increased sharply despite declines in volume and transaction value. Market breadth remained negative, with 41 decliners against 21 advancers, indicating stronger selling pressure across the exchange.

What the data is saying:

  • ASI: 254,245.21 points; down -0.02%, from 254,299.49 points.
  • ASI YTD gain: 63.38%.
  • Market Capitalisation: N165.08 trillion; down -0.02%, from N165.11 trillion
  • Market Capitalisation YTD Gain: 66.11%
  • Year-to-Date Return: 63.38%
  • Deals: 54,015 transactions; up +42.63%, from 37,870 transactions.
  • Volume Traded: 517.26 million shares; down -48.15%, from 997.57 million shares.
  • Value Traded: N47.48 billion; down -44.67%, from N85.81 billion.
  • Market Breadth: Negative, with 21 gainers against 41 losers

Top Five Gainers

  • Consolidated Hallmark Holdings: up +10.00%, from N6.50 to N7.15.
  • Livestock Feeds: up +9.77%, from N13.30 to N14.60.
  • AXA Mansard Insurance: up +9.30%, from N10.75 to N11.75.
  • UPDC Plc: up +7.46% from N3.35 to N3.60.
  • NPF Microfinance Bank: up +7.14%, from N4.20 to N4.50.

Top Five Losers

  • Champion Breweries: down -10.00%, from N9.00 to N8.10.
  • SUNU Assurances Nigeria: down -10.00%, from N3.00 to N2.70.
  • Aradel Holdings: -9.99%, from N1,439.90 to N1,296.00.
  • Vitafoam Nigeria: -9.97%, from N174.60 to N157.20.
  • Cornerstone Insurance: -9.89%, from N4.55 to N4.10.

More insights:

The market’s decline reflected significant selling pressure in oil and gas, banking and consumer goods stocks, despite strong gains in industrial counters.

The NGX Oil and Gas Index recorded the steepest sectoral decline, falling 3.75% to 5,857.51 points. The NGX Commodity Index followed with a 2.76% loss to 1,843.21 points.

Banking stocks also came under pressure, with the Banking Index declining 1.79% to 2,386.08 points. Consumer goods stocks shed 1.17%, closing at 3,966.93 points.

Among the key sectoral movements:

  • Oil and gas stocks recorded the largest sectoral decline, losing 3.75%.
  • Commodity stocks fell 2.76%, adding to the market’s weakness.
  • Banking stocks declined 1.79%, reflecting pressure on financial counters.
  • Consumer goods stocks lost 1.17%.
  • Industrial stocks advanced 3.34%, providing the strongest sectoral support.
  • Insurance stocks gained 0.93%, limiting the broader market decline.

Despite the sectoral weakness, selected stocks recorded strong gains. Consolidated Hallmark Holdings led the advancers with a 10% appreciation, followed by Livestock Feeds, which gained 9.77%.

On the losing side, a total of 41 stocks recorded losses with Aradel Holdings booking the most significant losses in absolute terms.

  • Champion Breweries and SUNU Assurances recorded the steepest declines, shedding 10% each.
  • Aradel Holdings also dropped 9.99% to N1,296.00, representing the largest absolute share price loss of N143.90.
  • Trading activity presented a mixed picture.
  • Deal count rose 42.63% to 54,015 transactions.
  • Volume traded declined 48.15% to 517.26 million shares.
  • Transaction value also fell 44.67% to N47.48 billion.

The combination of lower turnover and negative market breadth suggests that buying interest remained selective, while selling pressure affected a wider range of stocks.

What you should know:

Monday’s session marked a weak opening to November trading, with the NGX All-Share Index losing 0.02% as losses in oil and gas, banking and consumer goods stocks outweighed gains elsewhere.

  • The divergence between the Industrial Index, which gained 3.34%, and the Oil and Gas Index, which fell 3.75%, highlighted the uneven performance across sectors.
  • Market breadth also remained negative, with 41 decliners against 21 advancers, suggesting that selling pressure extended beyond a handful of heavyweight stocks.
  • Although the benchmark index recorded only a marginal decline, lower trading volume and transaction value point to reduced market turnover.

Sustained weakness in banking and oil and gas stocks could weigh on near-term sentiment, while selective buying in industrial and insurance counters may provide some support.