The Nigerian stock market opened November 2026 on a negative note as losses in heavyweight stocks dragged the benchmark index down by 0.02 per cent.
The Nigerian Exchange Limited All-Share Index (ASI) declined to 254,245.21 basis points, although its year-to-date return remained strong at 63.38 per cent.
Market capitalisation also shed N35 billion to close at N165.08 trillion.
The decline was driven by losses in Aradel Holdings, Nestle Nigeria, Vitafoam Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO).
Market breadth remained negative, with 41 stocks declining against 21 gainers.
Consolidated Hallmark Insurance led the gainers, rising 10 per cent to close at N7.15 per share. Livestock Feeds gained 9.77 per cent to N14.60, while AXA Mansard Insurance advanced 9.30 per cent to N11.75.
UPDC rose 7.46 per cent to N3.60, while NPF Microfinance Bank gained 7.14 per cent to close at N4.50 per share.
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On the losers’ chart, Champion Breweries and Universal Insurance (Uni Assurance) topped the list, shedding 10 per cent each to close at N8.10 and N2.70 respectively.
Aradel Holdings followed with a 9.99 per cent decline to N1,296, while Vitafoam Nigeria and Cornerstone Insurance fell by 9.97 per cent and 9.89 per cent to close at N157.20 and N4.10 respectively.
Trading activity weakened as total volume declined by 48.2 per cent to 517.26 million shares, valued at N47.48 billion across 54,015 deals.
Honeywell Flour Mills recorded the highest trading volume, with 74.185 million shares worth N1.793 billion exchanged.
Access Holdings followed with 41.602 million shares valued at N1.171 billion, while GTCO recorded 41.065 million shares worth N4.798 billion.
Fidelity Bank traded 29.173 million shares valued at N672.985 million, while Consolidated Hallmark Holdings recorded 28.503 million shares worth N202.322 million.
Looking ahead, Cowry Assets Management Limited warned that sustained selling pressure and weak market breadth could limit a near-term recovery, although selective bargain-hunting may help cushion further losses.
