Nigerian stock market loses N3.52trn in one week as sell-offs persist

The Nigerian stock market lost about N540 billion on Friday, November 6, 2026, as the NGX All-Share Index fell 0.33%, extending sell-offs in banking, telecommunications and industrial stocks.

It was the second consecutive trading session in red. For the week, investors lost about N3.52 trillion in market value between November 2 and November 6.

Indexes close lower

At the close, the ASI dropped from 249,710.59 points to 248,877.22 points. Market capitalisation fell from N162.134 trillion to N161.593 trillion. The year-to-date return moderated to 59.93%.

The NGX Banking Index declined 0.77% to 2,369.84 points. The NGX Industrial Index dropped 0.33% to 11,668.33 points. The NGX Consumer Goods Index shed 0.09% to 3,957.25 points.

The NGX Insurance Index rebounded 3.34% to 1,026.74 points. The NGX Oil and Gas Index gained 0.12% to 5,859.28 points. The NGX Commodity Index closed flat at 1,851.36 points.

Losers and gainers

PZ Cussons fell from N71.95 to N64.80, losing N7.15 or 9.94%. ABC Transport dropped from N6.20 to N5.70, shedding N0.50 or 8.06%. Africa Prudential declined from N10.70 to N10.05, losing N0.65 or 6.07%.

Tantalizers fell from N3.80 to N3.60, shedding N0.20 or 5.26%. UPL dropped from N4.85 to N4.60, losing N0.25 or 5.15%.

Champion Breweries rose from N8.00 to N8.80, gaining N0.80 or 10.00%. WAPIC advanced from N2.00 to N2.20, adding N0.20 or 10.00%. Honeywell Flour Mills increased from N26.85 to N29.50, gaining N2.65 or 9.87%.

Sovereign Trust Insurance climbed from N1.78 to N1.95, adding N0.17 or 9.55%. AXA Mansard rose from N10.80 to N11.80, gaining N1.00 or 9.26%.

Trading volume falls

A total of 377.66 million shares worth N26.87 billion were exchanged in 32,666 deals. Trading volume fell 55.90% compared with the previous session.

GTCO led with 41.02 million shares valued at N4.92 billion. UBA traded 25.96 million shares. Zenith Bank exchanged 23.44 million shares. FCMB recorded 18.88 million shares. Fidelity Bank traded 18.25 million shares.

Selling pressure hit major banking and telecommunications stocks, including MTN Nigeria, Zenith Bank, GTCO and Fidelity Bank. The decline came despite gains in selected equities, especially in the insurance sector.

For investors, the weekly loss and weaker trading volume point to caution, with banking and telecom stocks still weighing on the broader market.