WED NOV 11 2026-theGBJournal| Nigeria’s equities market closed lower on Tuesday as losses in major banking stocks and NAHCO weighed on the benchmark index, despite positive market breadth. Meanwhile, the NASD OTC market extended its gains, with its benchmark index advancing 1.60%.
NGX: Banking Stocks Weigh on Market
The domestic equities market ended Tuesday’s trading session in negative territory, with the Nigerian Exchange (NGX) All-Share Index (ASI) declining 0.06% to close at 252,313.16 points.
The downturn was largely driven by losses in FIRSTHOLDCO (-1.8%), STANBIC (-1.54%), ZENITHBANK (-0.9%), FIDELITYBK (-0.60%), WEMABANK (-0.31%) and NAHCO (-10.0%).
Consequently, the market’s Month-to-Date (MTD) return settled at -0.8%, while the Year-to-Date (YTD) return moderated to +62.1%. Market capitalisation also declined 0.06% to ₦163.82 trillion.
Trading activity strengthened, with total volume rising 20.3% to 545.30 million shares, valued at ₦30.39 billion across 31,543 deals. NEIMETH led trading by volume, with 79.86 million shares exchanged, while FIRSTHOLDCO topped the value chart with transactions worth ₦6.31 billion.
Sectoral performance was mixed. The Banking index declined 0.7%, while Insurance (+1.3%), Consumer Goods (+0.2%) and Oil & Gas (+0.1%) recorded gains. The Industrial Goods index closed flat.
Despite the benchmark’s decline, market breadth remained positive at 1.5x, with 32 advancers against 21 decliners.
NAHCO (-10.0%) and REDSTAREX (-9.9%) led the laggards, while CHAMPION (+10.0%) and HONYFLOUR (+9.9%) recorded the strongest gains.
NASD OTC: Index Advances 1.60%
The NASD OTC market bucked the broader equities market trend, closing Tuesday’s session on a positive note.
The NASD Securities Index (NSI) advanced 1.60% to 4,307.81 points, while market capitalisation increased 1.61% to ₦2.59 trillion. Consequently, the market’s YTD return improved to 21.56%, from 19.65%.
Trading activity was mixed. Total volume declined 69.73% to 508,165 units, while transaction value increased 87.22% to ₦34.76 million. The number of deals also rose 11.11% to 30.
SDFOODCOPLC (+10.00%) and SDNIPCOPLC (+10.00%) led the eight advancing securities, while SDAFRILANDPLC (-0.15%) was the session’s sole decliner.
FX: Naira Weakens as CBN Pound and Euro Rates Hold
In the foreign exchange market, the naira weakened against the US dollar, with the official exchange rate movement indicating a 0.1% depreciation.
The Central Bank of Nigeria’s (CBN) central reference rates for Tuesday, November 10, stood at:
US Dollar: ₦1,350.36/$1
British Pound: ₦1,812.72/£1
Euro: ₦1,514.29/€1
The CBN’s published buying and selling rates were ₦1,812.05 and ₦1,813.39 for the pound, respectively, and ₦1,513.73 and ₦1,514.85 for the euro.
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