Nigeria's stock market lost N3.52 trillion in market capitalisation during the week ended November 6, 2026, as the All-Share Index fell 2.13% to 248,877.22 points, according to NGX data. The index dropped 5,422.27 points from 254,299.49 points at the start of the week, with market capitalisation sliding to N161.59 trillion from N165.11 trillion. The NGX attributed the decline to renewed sell-offs in global equity markets that dampened domestic sentiment, alongside profit-taking and portfolio rebalancing as investors prepared for the year-end trading period.
Market breadth remained negative throughout the week. Only 29 equities gained ground, fewer than the 33 gainers recorded in the previous week, while 57 declined compared with 48 a week earlier. Sixty equities closed unchanged. The Industrial and Oil and Gas sectors led the downward pressure. Despite the broad pullback, some indices maintained strong year-to-date performance: the Oil and Gas sector was up 119.43% and Industrial Goods up 105.56%, though the Insurance Index remained down 13.67% for the year and Consumer Goods down 0.46%.
A handful of mid- and small-cap stocks bucked the trend. Honeywell Flour Mills was the week's best performer, jumping 30.82% to N29.50 from N22.55, extending an October gain of 25.28% and bringing its total rise since the end of September to approximately 63.89%. Transcorp Power followed with a 23.37% rise to N219.60 from N178.00, while E-Tranzact International gained 14.42% to N18.65. Among large-cap stocks, Dangote Cement fell 5.56% to N1,341.00 after rallying 33.12% in October, and First HoldCo dropped 7.68% to N110.00, compounding its 25.48% October decline.
Trading activity weakened significantly. Investors traded 2.829 billion shares worth N208.407 billion across 192,158 deals, down sharply from the previous week's 7.619 billion shares valued at N637.826 billion in 192,138 deals. For savers and investors, the sharp pullback in market value and reduced trading activity signals increased volatility and reduced liquidity as the year draws to a close.