Nigeria’s stock market gains N28.65 billion, reversing much of Monday losses

The Nigerian equities market closed Tuesday, November 3, 2026, on a positive note, adding N28.65 billion in market value as renewed buying in select heavyweight stocks recovered most of Monday’s losses.

The NGX All-Share Index (ASI) rose 0.02% (44.14 points) to 254,289.35 points from 254,245.21. Market capitalisation rose to N165.11 trillion from N165.08 trillion.

The year-to-date return of the ASI settled at 63.41%, while month-to-date returns remained flat at 0.0%.

Tuesday’s gain recovered about 81% of the 54.28-point loss recorded on Monday, November 2, when the ASI fell 0.02% from 254,299.49 points.

Nairametrics reported that Monday’s weak opening to November was driven by sell-offs in Aradel (-10%), International Breweries (-8.6%), Access Corp (-7.3%) and Zenith Bank (-2.5%), leaving the market down by over N35 billion in market capitalisation. Tuesday’s N28.65 billion gain recovered roughly 82% of that.

Some of Monday’s casualties led the rebound. International Breweries rose 6.5% to N9.05, and Zenith Bank gained 0.8% to close at N116.90. Stanbic IBTC added 1.2% to N163.90, and Transpower 3.7%. Access Corp also gained 1.89% to N27.00.

What the data is saying:

• All-Share Index: 254,289.35 points, up 0.02% from 254,245.21 points.
• ASI Year-to-Date Gain: 63.41%.
• Market Capitalisation: N165.11 trillion, up N28.65 billion from N165.08 trillion.
• Market Capitalisation YTD Gain: 66.14%.
• Month-to-Date Return: 0.0%.
• Volume Traded: 525.44 million shares, up 1.58% from 517.26 million.
• Value Traded: N22.61 billion, down 52.38% from N47.48 billion.
• Deals: 39,078 transactions, down 27.65% from 54,015.
• Market Breadth: Negative, with 20 advancers against 32 decliners.

Top Five Gainers

• UPL — up 9.52% to N4.60
• Omatek — up 8.59% to N1.39.
• International Breweries — up 6.47% to N9.05.
• Guinea Insurance — up 5.26% to N0.80.
• Royal Exchange — up 5.26% to N1.00.

Top Five Losers

• FTG Insurance — down 10.00% to N1.53.
• Vitafoam — down 9.99% to N141.50.
• UPDC REIT — down 9.95% to N19.00.
• Abbey Mortgage Bank — down 8.73% to N5.75.
• Caverton — down 7.58% to N3.05.

Sectoral performance

• NGX Commodity: +0.22%
• NGX Consumer Goods: +0.18%
• NGX Banking: +0.03%
• NGX Oil & Gas: +0.02%
• NGX Industrial: broadly flat
• NGX Insurance: -1.15%

More insights:

The market’s marginal recovery was supported by buying in selected heavyweight stocks, particularly International Breweries, Zenith Bank, Stanbic IBTC and Access Corporation.

International Breweries recorded a 6.47% gain to N9.05, reversing part of Monday’s selloff.

Zenith Bank also recovered 0.78% to N116.90, while Stanbic IBTC advanced 1.17% to N163.90.

Access Corporation gained 1.89% to N27.00, while Transpower rose 3.7%, adding to the positive performance of selected counters.

Among the notable stocks supporting the rebound:

International Breweries’ 6.47% was the strongest advance among the highlighted heavyweight stocks.

• Transpower advanced 3.7%.
• Access Corporation rose 1.89%.
• Stanbic IBTC gained 1.17%.
• Zenith Bank added 0.78%.

However, the recovery was not broad-based. Market breadth remained negative, with 32 decliners outweighing 20 advancers.

On the losers’ side, FTG Insurance and Vitafoam recorded the steepest losses, falling 10.00% and 9.99%, respectively.

UPDC REIT declined 9.95%, while Abbey Mortgage Bank and Caverton shed 8.73% and 7.58%.

Sectoral performance mixed

The Commodity Index led gains while Insurance recorded the largest sectoral decline.

• Commodity Index advanced by 0.22% to 1,847.35 points, followed by Consumer Goods, which rose 0.18% to 3,970.91 points.
• The Banking Index gained 0.03%, while Oil and Gas advanced 0.02%.
• The Industrial Index remained broadly flat.

Insurance recorded the largest sectoral decline, falling 1.15% to 1,024.67 points.

Trade volume and value

Trading activity weakened considerably by value. Although volume increased 1.58% to 525.44 million shares, transaction value fell 52.38% to N22.61 billion.

Deal count also declined 27.65% to 39,078 transactions.

Zichis was the most traded stock by volume, with 127.48 million shares, while Aradel led by value with N2.95 billion worth of shares traded.

What you should know:

Tuesday’s session delivered a modest recovery for Nigerian equities, with the All-Share Index gaining 0.02% and market capitalisation adding N28.65 billion.

• The gain reversed most of Monday’s market value decline, supported by renewed buying in International Breweries, Zenith Bank, Stanbic IBTC and Access Corporation.
• However, negative market breadth showed that the rebound was concentrated in selected stocks rather than reflecting broad-based buying. Insurance was also the weakest major sector, declining 1.15%.
• Trading value and deal count fell sharply, despite a slight increase in volume. This suggests that the market’s price recovery was accompanied by weaker overall transaction activity.

Selective accumulation in fundamentally sound stocks could support further gains. However, continued selling pressure in declining counters and weak market breadth may constrain the market’s near-term recovery.