NIGERIA: Nigeria’s equity market shed approximately ₦3.52 trillion in market value during the week ended November 6, as losses across major listed companies reversed part of the gains recorded in the preceding week.
The Nigerian Exchange Limited All-Share Index fell by 2.13 per cent to close at 248,877.22 points on Friday, November 6, compared with 254,299.49 points at the end of the preceding week.
Equity market capitalisation declined from approximately ₦165.11 trillion to ₦161.59 trillion.
The market therefore lost about ₦3.52 trillion in equity value over the week.
Market breadth also deteriorated, with 57 stocks recording losses against 29 gainers, while 60 equities remained unchanged.
The weakness extended across several major sectors.
The Industrial Goods Index declined by 4.35 per cent, Oil and Gas fell by 3.72 per cent, Banking dropped by 2.45 per cent, while Consumer Goods lost 1.41 per cent.
The Insurance Index recorded a marginal decline of 0.03 per cent.
The performance suggests that selling pressure was not confined to a single sector, although declines in heavily weighted stocks played an important role in the benchmark’s movement.
Friday’s session alone saw the All-Share Index decline by 0.33 per cent to 248,877.22 points.
Interestingly, market breadth on Friday was positive, with 29 gainers against 23 decliners.
This indicates that gains among some equities were insufficient to offset losses in larger stocks with greater influence on the benchmark index.
Despite the correction, the market’s year-to-date return remained approximately 59.93 per cent at the end of the week.
The decline therefore represents a retracement from recent gains rather than the erasure of the market’s substantial 2026 appreciation.
Investors will be watching whether the correction deepens or gives way to renewed buying interest as the year-end trading period approaches.
Company earnings, dividend expectations, interest-rate conditions and the sustainability of valuations are likely to remain important considerations.
Latest completed trading session: Friday, November 6, 2026. The Monday, November 9 session had not closed by the 12:35 p.m. research cut-off; no Monday closing figures are implied in this report.
