{"id":11411,"date":"2026-11-11T08:48:40","date_gmt":"2026-11-11T08:48:40","guid":{"rendered":"https:\/\/ograsset.com\/?p=11411"},"modified":"2026-11-11T08:48:41","modified_gmt":"2026-11-11T08:48:41","slug":"ngx-sheds-n93-billion-as-first-holdco-stanbic-ibtc-nahco-drag-stocks-lower","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/11\/11\/ngx-sheds-n93-billion-as-first-holdco-stanbic-ibtc-nahco-drag-stocks-lower\/","title":{"rendered":"NGX sheds N93 billion as First HoldCo, Stanbic IBTC, NAHCO drag stocks lower"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"618\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/11\/image-49.png\" alt=\"\" class=\"wp-image-11412\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/11\/image-49.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/11\/image-49-300x190.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/11\/image-49-768x487.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The Nigerian equities market lost N93.23 billion on Tuesday, November 10, 2026 as selling pressure in First HoldCo, Stanbic IBTC, Zenith Bank and NAHCO triggered reversal of a small part of the previous session\u2019s rebound.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The NGX All-Share Index (ASI) declined by 0.06% to 252,313.16 points from 252,456.74 points.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Market capitalisation fell to N163.82 trillion from N163.92 trillion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Banking blue-chip names majorly drove market decline on Tuesday, led by First HoldCo which fell 1.83%, shedding N2.00 to close at N107.00 from N109.00.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Also Read<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/nairametrics.com\/2026\/11\/11\/fg-offers-n2-trillion-in-bonds-as-dmo-opens-november-2026-auction\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>FG offers N2 trillion in bonds as DMO opens November 2026 auction<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/11\/11\/dmo-offers-n800-billion-in-t-bills-on-wednesday-as-n148-6-billion-matures-for-settlement\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>DMO offers N800 billion in T-bills on Wednesday as N148.6 billion matures for settlement<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/11\/11\/naira-weakens-to-n1353-50-as-dollar-rate-climbs-further-in-november\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>Naira weakens to N1,353.50\/$ as dollar rate climbs further in November<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Stanbic IBTC also declined 1.54%, losing N2.50 to close at N160.00 from N162.50 while Zenith Bank dropped 0.85%, shedding N1.00 to N116.50 from N117.50.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fidelity Bank slipped 0.60% to N24.80 from N24.95 just as Wema Bank dipped 0.31%, losing N0.10 to close at N31.90 from N32.00.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the decline, market sentiment remained positive with 32 gainers against 21 losers. Most of the decline came from selling in a few banking stocks and from NAHCO, not from broad-based selling.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Highlights of market performance:<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ASI: 252,313.16 points; down 0.06% from 252,456.74 points.<\/li>\n\n\n\n<li>ASI YTD gain: 62.14%.<\/li>\n\n\n\n<li>Market Capitalisation: N163.82 trillion; down 0.06% from N163.92 trillion.<\/li>\n\n\n\n<li>Market cap YTD gain: 64.85%.<\/li>\n\n\n\n<li>Deals: 31,543 transactions, down 26.46% from 42,891.<\/li>\n\n\n\n<li>Volume Traded: 545.30 million shares, up 20.29% from 453.31 million.<\/li>\n\n\n\n<li>Value Traded: N30.39 billion, down 0.54% from N30.55 billion.<\/li>\n\n\n\n<li>Market Breadth: Positive, with 32 gainers against 21 losers.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Top 5 Gainers:<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Champion Breweries: up 10.00%, from N8.50 to N9.35.<\/li>\n\n\n\n<li>Honeywell Flour: up 9.90%, from N29.30 to N32.20.<\/li>\n\n\n\n<li>CMFC: up 8.75%, from N2.97 to N3.23.<\/li>\n\n\n\n<li>Sovereign Trust Insurance: up 8.41%, from N2.14 to N2.32.<\/li>\n\n\n\n<li>UPL: up 8.33%, from N4.20 to N4.55.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Top 5 Losers:<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>NAHCO: down 9.99%, from N151.20 to N136.10.<\/li>\n\n\n\n<li>Red Star Express: down 9.85%, from N13.70 to N12.35.<\/li>\n\n\n\n<li>LivingTrust Mortgage Bank: down 9.79%, from N2.86 to N2.58.<\/li>\n\n\n\n<li>Abbey Mortgage Bank: down 5.22%, from N6.70 to N6.35.<\/li>\n\n\n\n<li>Caverton Offshore Support: down 4.29%, from N3.50 to N3.35.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>More insights:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The market\u2019s decline was concentrated in banking stocks. First HoldCo recorded the sharpest fall among the major blue-chip banks, dropping 1.83% to N107.00. Stanbic IBTC had the largest absolute decline, losing N2.50 to close at N160.00.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other notable decliners that weighed on market performance included:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Zenith Bank: fell 0.85% to N116.50, losing N1.00 per share.<\/li>\n\n\n\n<li>Fidelity Bank: dropped 0.60% to N24.80.<\/li>\n\n\n\n<li>Wema Bank: declined 0.31% to N31.90.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">NAHCO was the biggest drag outside banking, shedding N15.10 per share as it fell 9.99%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, gains in other large-cap stocks limited the broader decline. Transcorp rose 6.67%, UACN added 1.74%, GTCO gained 0.33%, and Access Holdings advanced 0.18%.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Volume and value:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Trading activity was higher in volume but lower in value and deals. Neimeth led by volume with 79.86 million units, or 14.65% of the total.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>First HoldCo led by value with N6.31 billion, or 20.77% of the total.<\/li>\n\n\n\n<li>Excluding First HoldCo, value traded was N24.08 billion, about 5% below Monday\u2019s N25.35 billion excluding Seplat.<\/li>\n\n\n\n<li>The average value per share traded fell about 17% to N55.73.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The heavy trading in First HoldCo, even as its price declined, suggests that selling pressure was concentrated in the stock.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Sectoral performance:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Banking was the only major sector to decline, while insurance posted the strongest gain.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Banking stocks declined 0.67% to 2,359.68 points.<\/li>\n\n\n\n<li>Insurance stocks gained 1.33% to 1,053.71 points.<\/li>\n\n\n\n<li>Consumer goods stocks rose 0.19% to 3,963.58 points.<\/li>\n\n\n\n<li>Oil and gas stocks added 0.09% to 5,877.44 points.<\/li>\n\n\n\n<li>Industrial stocks gained 0.04% to 12,336.97 points.<\/li>\n\n\n\n<li>Commodity stocks closed flat at 1,859.15 points.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What you should know:<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Tuesday\u2019s decline reversed part of the gains from <a href=\"https:\/\/nairametrics.com\/2026\/11\/09\/dangote-cement-transcorp-power-oando-drive-n2-32-trillion-stock-market-rebound\/\"><strong>Monday\u2019s N2.32 trillion rebound<\/strong><\/a>, moderating the market\u2019s year-to-date return to 62.14%. Month-to-date, the ASI is down 0.8%.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>First HoldCo, Stanbic IBTC, Zenith Bank, Fidelity Bank and Wema Bank all closed lower, pulling the banking index down 0.67%.<\/li>\n\n\n\n<li>Positive breadth and gains in insurance, consumer goods and oil and gas stocks limited the market\u2019s losses.<\/li>\n\n\n\n<li>Turnover by value and deal count fell, even as volume rose 20.29%.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Improving breadth and gains across several sectors could support a near-term rebound. Continued selling in heavyweight banking stocks and subdued trading activity may limit a broader recovery.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/11\/10\/ngx-sheds-n93-billion-as-first-holdco-stanbic-ibtc-nahco-drag-stocks-lower\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian equities market lost N93.23 billion on Tuesday, November 10, 2026 as selling pressure in First HoldCo, Stanbic IBTC, Zenith Bank and NAHCO triggered reversal of a small part of the previous session\u2019s rebound. The NGX All-Share Index (ASI) declined by 0.06% to 252,313.16 points from 252,456.74 points. Market capitalisation fell to N163.82 trillion&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/11\/11\/ngx-sheds-n93-billion-as-first-holdco-stanbic-ibtc-nahco-drag-stocks-lower\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":11412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-11411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/11\/image-49.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=11411"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11411\/revisions"}],"predecessor-version":[{"id":11414,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/11411\/revisions\/11414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/11412"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=11411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=11411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=11411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}