{
  "id": 19421294,
  "title": "Stock Market Drops Marginally on Losses in NAHCO, 20 Others",
  "url": "https://urgent.news/2026/11/11/stock-market-drops-marginally-on-losses-in-nahco-20-others",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T00:39:53.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/11/11/stock-market-drops-marginally-on-losses-in-nahco-20-others/"
  },
  "original_language": "en",
  "account": "The Nigerian stock market experienced a slight decline on the previous trading day, primarily due to profit-taking activities in the Nigerian Aviation Handling Company (NAHCO) Plc and 20 other companies. The Nigerian Exchange Limited All-Share Index (NGX ASI) dropped by 0.06 percent, closing at 252,313.16 basis points. Over the month and year to date, the market returns were -0.8 percent and +62.1 percent, respectively, while the market capitalization decreased by N93 billion to N163.82 trillion.\n\nSectoral performance varied, with the Banking index falling by 0.7 percent, the Insurance index rising by 1.3 percent, and the Consumer Goods, Oil & Gas, and Industrial Goods indices increasing by 0.2 percent, 0.1 percent, and remaining flat, respectively. The Banking index was the only negative performer of the day.\n\nDespite the bearish close, market sentiment remained positive, with 32 stocks advancing compared to 21 declining. Champion Breweries led the gainers' chart with a 10.00 percent increase, closing at N9.35 per share. Honeywell Flour Mill and Critical Minerals Financing Corporation (CMFC) also saw significant gains of 9.90 percent and 8.75 percent, respectively, closing at N32.20 and N3.23 per share. Sovereign Trust Insurance and University Press followed with 8.41 percent and 8.33 percent gains, closing at N2.32 and N4.55 per share, respectively.\n\nOn the losers' side, NAHCO led the decline, falling by 9.99 percent to N136.10 per share. Red Star Express and LivingTrust Mortgage Bank also experienced a decline of 9.85 percent and 9.79 percent, closing at N12.35 and N2.58 per share, respectively. Abbey Bank and Caverton Offshore Support Group suffered losses of 5.22 percent and 4.29 percent, closing at N6.35 and N3.35 per share, respectively.\n\nThe total volume traded increased by 20.3 percent to 545.30 million units, valued at N30.39 billion, with 31,543 deals executed. Neimeth International Pharmaceuticals led the activity chart, with 79.864 million shares traded worth N481.606 million. First Holdco, MeCure Industries, United Bank for Africa (UBA), and Access Holdings also saw substantial trading volumes in the N1.609 billion, N3.777 billion, N1.609 billion, and N752.669 million ranges, respectively.\n\nMarket analysts attributed the market drop to investors locking in gains after Monday's strong rebound, rather than a fundamental shift in sentiment. Cowry Assets Management Limited predicted that improving market breadth and gains across several sectors could support a near-term rebound, although persistent selling pressure in heavyweight banking stocks and subdued trading activity might hinder broader market recovery.",
  "summary": "Kayode Tokede The stock market closed yesterday’s session on a negative note, investor’s profit taking in Nigerian Aviation Handling Company (NAHCO) Plc and 20 others caused market indicator to drop",
  "key_points": [
    "Nigerian stock market marginally declined by 0.06 percent on previous trading day.",
    "Nigerian Aviation Handling Company (NAHCO) and 20 other companies led the decline.",
    "Market sentiment remained positive with more stocks advancing than declining."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}