Stock Market Commences November on Profit-taking Note
Kayode Tokede
The Nigerian stock market commenced the month of November 2026 on a negative note, subdued by buying interest in heavyweight stocks that led the major market indicator down by 0.02 per cent.
The Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 0.02 per cent to close at 254,245.21 basis points, bringing year-to-date return remains strong at 63.38 per cent.
The market capitalisation shed N35 billion to N165.08 trillion.
The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Aradel Holdings, Nestle Nigeria, Vitafoam Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO).
Market sentiment remained negative, with 41 decliners, outnumbering 21 advancers. Consolidated Hallmark Insurance led the gainers chart by 10 per cent to close at N7.15, per share.
Livestock Feeds followed by a gain of 9.77 per cent to close at N14.60, while AXA Mansard Insurance rose by 9.30 per cent to close at N11.75, per share.
UPDC up by 7.46 per cent to close at N3.60 and NPF Microfinance Bank increased by 7.14 per cent to close at N4.50, per share.
On the other side, Champion Breweries and Uni Assurance led the loser’s chart by 10.00 per cent each to close at N8.10 and N2.70 respectively, while Aradel Holdings followed with a loss of 9.99 per cent to close N1,296.00, per share.
Vitafoam down by 9.97 per cent to N157.20 and Cornerstone Insurance down 9.89 per cent to close at N4.10, per share.
The total volume traded declined by 48.2 per cent to 517.26 million units, valued at N47.48 billion, and exchanged in 54,015 deals. Transactions in the shares of Honeywell Flour Mill led the activity with 74.185 million shares worth N1.793 billion. Access Holdings followed with account of 41.602 million shares valued at N1.171 billion, while GTCO traded 41.065 million shares valued at N4.798 billion.
Fidelity Bank traded 29.173 million shares worth N672.985 million, while Consolidated Hallmark Holdings traded 28.503 million shares worth N202.322 million.
Looking ahead, Cowry Assets Management Limited said, sustained selling pressure and weak market breadth may limit near-term recovery, although selective bargain-hunting could cushion further losses.