The Nigerian equities market added approximately N307.4bn in value on Wednesday, November 4, 2026, as renewed demand for Transcorp Power, GTCO, Zenith Bank and United Bank for Africa (UBA) shares sustained the market’s positive momentum.
The Nigerian Exchange Limited (NGX) All-Share Index advanced by 0.19 per cent to close at 254,762.81 points, compared with 254,289.35 points recorded in the previous trading session.
Market capitalisation also increased by N307.4bn to N165.42tn, while the year-to-date return improved to 63.72 per cent. The market’s month-to-date return stood at 0.2 per cent.
The rally was supported by gains in Transcorp Power, which appreciated by 9.97 per cent, alongside GTCO, Zenith Bank and UBA, which rose by 5.1 per cent, 2.65 per cent and 2.68 per cent respectively.
Market breadth strengthened, with 27 stocks recording gains against 23 decliners.
Transcorp Power led the gainers’ table, rising from N184.60 to N203 per share. Caverton Offshore Support Group followed with a 9.84 per cent increase from N3.05 to N3.35, while E-Tranzact gained 9.68 per cent to close at N17.
Haldane McCall advanced by 7.36 per cent to N3.50, while International Energy Insurance appreciated by 7.27 per cent to N1.77 per share.
Other notable gainers included Honeywell Flour Mills, which rose by 4.04 per cent to N24.45, and Transcorp, which gained 0.17 per cent to close at N30.05.
On the losing side, Eterna recorded the steepest decline, shedding 9.94 per cent to close at N38.50. Sovereign Trust Insurance fell by 9.91 per cent to N1.91, while Learn Africa declined by 9.84 per cent to N8.25.
Cornerstone Insurance lost 9.30 per cent to close at N3.90, while Mutual Benefits Assurance shed 6.85 per cent to N2.72 per share.
Among banking stocks, GTCO led the major gainers with a 5.1 per cent appreciation. Zenith Bank rose by 2.65 per cent to N120, while UBA gained 2.68 per cent to N42.10. Fidelity Bank advanced by 1.69 per cent to N24, while Wema Bank added 1.25 per cent to close at N32.40.
Sectoral performance was mixed, although banking stocks led the advances. The Banking Index gained 0.72 per cent to close at 2,403.98 points, while the Commodity Index rose by 0.63 per cent to 1,858.91 points.
In contrast, the Insurance Index declined by 0.54 per cent to 1,019.09 points. Consumer goods stocks shed 0.11 per cent to 3,966.50 points, while the Oil and Gas Index fell by 0.07 per cent to 5,854.47 points. The Industrial Index closed flat at 12,606.99 points.
Trading activity improved in volume and value terms, but the number of transactions declined.
Investors exchanged 552.31 million shares valued at N37.46bn in 32,874 deals. Trading volume increased by 5.11 per cent from 525.44 million shares, while transaction value rose by 65.66 per cent from N22.61bn.
However, the number of deals fell by 15.88 per cent from 39,078 recorded in the previous session.
Zichis Agro Allied Industries led trading by volume, with 127.48 million shares changing hands, while First HoldCo topped the value chart with transactions worth N12.67bn.
Wednesday’s performance extended the market’s recovery from Monday’s losses, following a N28.65bn increase in market capitalisation recorded on Tuesday.
The stronger turnover reflected increased trading activity, although the decline in deal count suggested that the higher value was concentrated in fewer transactions.
Further gains may depend on sustained demand for heavyweight banking and industrial stocks. However, losses in selected sectors and continued weakness in some equities could limit the market’s upward movement in the near term.
