The Nigerian equities market misplaced another N540 billion on Friday, November 6, 2026, as sustained promoting in MTN Nigeria, Zenith Bank, GTCO, HBM Nigeria and Fidelity Bank prolonged the earlier session’s sharp decline.
But on a week-to-date foundation, the market declined by N3.520 trillion, from N165.114 trillion opening degree on November 2, to N161.593 trillion on Friday, November 6, 2026 representing 2.13% drop in a single week.
MTN Nigeria led the heavyweight sell-offs, falling 1.53% to N837.00 and shedding N13.00 per share.
Zenith Bank declined 2.17% to N117.40, whereas GTCO misplaced 1.80% to N119.80. HBM Nigeria and Fidelity Bank additionally recorded losses of two.48% and three.51%, respectively.
Consequently, the NGX All-Share Index (ASI) declined by 0.33% to 248,877.22 factors from 249,710.59 factors within the earlier session. Market capitalisation fell to N161.59 trillion from N162.13 trillion, representing a lack of roughly N540 billion.
The newest decline prolonged Thursday’s sell-off, bringing the market’s loss in capitalisation to roughly N3.83 trillion from Wednesday’s shut of N165.42 trillion. The ASI additionally fell 5,885.59 factors from its weekly excessive of 254,762.81 factors.
Market sentiment remained unfavourable, with 36 stocks recording losses towards 20 gainers. Banking and industrial stocks supplied notable downward strain, though insurance coverage stocks recorded a robust rebound.
Highlights of market efficiency:
- ASI: 248,877.22 factors; down 0.33% from 249,710.59 factors.
- ASI YTD acquire: Approximately 59.93%.
- Market Capitalisation: N161.593 trillion; down roughly N540 billion from N162.134 trillion.
- Market YTD acquire: Approximately 62.61%
- Deals: 32,666 transactions, down 2.61% from 33,540
- Volume Traded: 377.66 million shares, down 55.90% from 856.28 million
- Value Traded: N26.865 billion, down 63.74% from N74.09 billion.
- Market Breadth: Negative, with 20 gainers towards 36 losers.
Top 5 Gainers:
- Champion Breweries: up 10.00%, from N8.00 to N8.80.
- WAPIC: up 10.00%, from N2.00 to N2.20.
- Honeywell Flour: up 9.87%, from N26.85 to N29.50.
- Sovereign Trust Insurance: up 9.55%, from N1.78 to N1.95.
- AXA Mansard: up 9.26%, from N10.80 to N11.80.
Top 5 Losers:
- PZ Cussons: down 9.94%, from N71.95 to N64.80.
- ABC Transport: down 8.06%, from N6.20 to N5.70.
- Africa Prudential: down 6.07%, from N10.70 to N10.05.
- Tantalizers: down 5.26%, from N3.80 to N3.60.
- UPL: down 5.15%, from N4.85 to N4.60.
More insights:
The market’s decline mirrored weak point in a number of large-cap stocks, notably throughout banking, telecommunications and industrial counters. Their mixed losses outweighed features in chosen stocks and the insurance coverage sector.
MTN Nigeria recorded the biggest absolute share value decline among the many highlighted heavyweight stocks, dropping N13.00 to shut at N837.00.
Other notable decliners included:
- Zenith Bank: fell 2.17% to N117.40, dropping N2.60 per share.
- GTCO: declined 1.80% to N119.80, shedding N2.20.
- HBM Nigeria: misplaced 2.48% to N315.00, down N8.00.
- Fidelity Bank: dropped 3.51% to N23.35.
- Custodian: declined 3.08% to N63.00.
- Dangote Sugar: fell 0.99% to N65.00.
- Nigerian Breweries: misplaced 0.28% to N70.00.
- Access Holdings: dipped 0.19% to N26.90.
However, chosen large-cap stocks recorded features, limiting the broader decline. ETI rose 4.48% to N70.00, Transcorp gained 5.67% to N31.70, Oando superior 5.08% to N33.10, whereas UACN added 3.12% to N172.00.
Volume and worth:
Trading exercise was concentrated in a handful of banking and large-cap stocks. GTCO, Zenith Bank and MTN Nigeria had been additionally among the many main stocks by transaction worth, indicating substantial buying and selling exercise in among the counters underneath strain.
GTCO led buying and selling by quantity, with 41.02 million shares, adopted by UBA with 25.96 million shares and Zenith Bank with 23.44 million shares.
Other actively traded stocks included FCMB, with 18.88 million shares, and Fidelity Bank, with 18.25 million shares.
- By transaction worth, GTCO led with roughly N4.92 billion.
- Zenith Bank recorded N2.76 billion.
- MTN Nigeria accounted for about N2.06 billion.
- NGX Group adopted with roughly N2.01 billion.
- UBA recorded about N1.09 billion.
The focus of buying and selling exercise in banking stocks means that monetary counters remained central to market turnover, even as a number of main lenders recorded value declines.
Sectoral efficiency:
Banking and industrial stocks had been among the many main sectoral drags, whereas insurance coverage recorded the strongest restoration.
- Banking stocks declined 0.77% to 2,369.84 factors.
- Industrial stocks fell 0.33% to 11,668.33 factors.
- Consumer items stocks shed 0.09% to three,957.25 factors.
- Insurance stocks rebounded 3.34% to 1,026.74 factors.
- Oil and gasoline stocks gained 0.12% to five,859.28 factors.
- Commodity stocks closed flat at 1,851.36 factors.
- The banking sector’s decline mirrored losses in main lenders, together with Zenith Bank, GTCO and Fidelity Bank.
The industrial index additionally remained underneath strain after Thursday’s sharp 7.14% decline.
What you must know:
Friday’s decline prolonged the Nigerian equities market’s dropping streak, with market capitalisation shedding another N540 billion to N161.59 trillion.
- The market has misplaced roughly N3.83 trillion in capitalisation since Wednesday’s weekly excessive of N165.42 trillion.
- MTN Nigeria, Zenith Bank, GTCO, HBM Nigeria and Fidelity Bank had been among the many heavyweight stocks that dragged market down after Dangote Cement’s losses on Thursday.
- Banking and industrial indices declined essentially the most, whereas insurance coverage stocks gained 3.34%, offering some help.
- Market breadth remained unfavourable, with 36 decliners towards 20 advancers.
Selected large-cap features in ETI, Transcorp, Oando and UACN had been inadequate to reverse the market’s decline.
The simultaneous weak point in main banking, telecommunications and industrial stocks factors to continued strain on heavyweight counters. Further promoting in these stocks might lengthen market volatility, though bargain-hunting and features in chosen counters could present intermittent help.
