Market slumps 2.13% as bears dominate weekly trading

NGXThe Nigerian Exchange Limited recorded a total turnover of 2.829bn shares worth N208.407bn in 192,158 deals during the week ended 6 November 2026.

This activity represented a decline in value and volume compared to the preceding week, when investors traded 7.619bn shares valued at N637.826bn across 192,138 deals.

Equity market performance

The Financial Services Industry led sectorial volume participation, contributing 1.983bn shares valued at N126.627bn in 84,899 deals, accounting for 70.11 per cent of total equity turnover volume and 60.76 per cent of total value.

The Consumer Goods Industry ranked second with 245.568m shares worth N15.852bn in 21,445 deals, while the Agriculture Industry followed in third place with a turnover of 160.610m shares valued at N3.283bn across 5,511 deals.

Trading in the top three individual equities by volume including First Holdco Plc, Access Holdings Plc, and Honeywell Flour Mill Plc, accounted for 992.859 million shares worth N71.044bn in 20,512 deals, contributing 35.10 per cent and 34.09 per cent to overall turnover volume and value respectively.

Market capitalisation and benchmark indices experienced downward momentum over the five-day trading period. The NGX all-share index and market capitalisation depreciated 2.13 per cent to close the week at 248,877.22 points and N161.594tn, respectively.

Across individual trading days, volume peaked on Thursday, 5 November 2026, with 856.239m shares worth N74.059bn traded in 33,539 deals, while market breadth favoured decliners overall.

Over the course of the week, 29 equities recorded price appreciation compared to 33 in the previous week. Fifty-seven equities depreciated in price compared to 48 in the prior period, while 60 equities remained unchanged compared to 65 recorded in the preceding week.

Most main and sectorial indices finished lower during the week, with the NGX Premium Index dropping 3.88 per cent to 32,127.30 points, the NGX Industrial Goods Index falling 4.35 per cent to 11,668.33 points, and the NGX Banking Index shrinking 2.45 per cent to close at 2,369.84 points.

The NGX Lotus II Index recorded the largest drop among tracked indices, declining 5.10 per cent to close at 22,973.30 points. Bucking the overall downward trend, the NGX Growth Index appreciated by 1.33 per cent to close at 26,977.78 points, while the NGX Sovereign Bond Index closed flat at 666.44 points.

Key price movers

Honeywell Flour Mill Plc led the price gainers chart, advancing 30.82 per cent to close at N29.50 per share from an opening price of N22.55. Transcorp Power Plc followed with a 23.37 per cent gain, moving from N178.00 to N219.60 per share, while e-Tranzact International Plc rose 14.42 per cent to close at N18.65 per share

AXA Mansard Insurance Plc, The Initiates Plc, and University Press Plc also posted positive performances, rising 9.77 per cent, 9.57 per cent, and 9.52 per cent, respectively.

Conversely, Vitafoam Nigeria Plc recorded the largest decline of the week, dropping 18.96 per cent to close at N141.50 per share from N174.60. Sovereign Trust Insurance Plc fell 17.02 per cent to N1.95 per share, Eterna Plc lost 15.79 per cent to close at N36.00 per share, and ABC Transport Plc dropped 13.64 per cent to end at N5.70 per share.

Activity across Exchange Traded Products recorded 1.458m units valued at N381.820m traded in 4,085 deals, compared with 1.346m units valued at N512.142m transacted in 4,472 deals during the prior week.

VETBANK recorded the highest volume with 483,995 units traded in 289 deals worth N12.773m, while STANBICETF30 accounted for the highest value traded at N249.442m across 1,638 deals for 257,547 units.

In the fixed income market, a total of 21.993m bond units valued at N20.601bn were traded in 48 deals, reflecting a substantial increase from the 2.294m units valued at N2.195bn transacted in 56 deals the previous week.

The bond market turnover was dominated by NBET2033S2B, which recorded 21.861m units valued at N20.468bn in a single deal.

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