The Nigerian Exchange (NGX) opened November trading on a bearish note on Monday, November 2, 2026, as investor sell-offs pushed the market capitalisation down by 0.02% to N165.08 trillion from N165.11 trillion recorded in the previous session.
The benchmark All-Share Index shed 54.28 points to close at 254,245.21 points, down from 254,299.49 points. The decline followed losses in major stocks, including Aradel Holdings, Vitafoam Nigeria, Access Holdings, Nestle Nigeria and Transcorp.
Trading activity and sector performance
Total trading volume stood at 517.26 million shares exchanged in 54,015 deals, valued at N47.48 billion. Despite Monday's decline, the NGX All-Share Index remained up 63.38% year-to-date.
The industrial goods sector maintained the strongest performance with a 122.09% gain, while the oil and gas sector was up 119.36% year-to-date and the banking index gained 57.41%.
Top gainers and losers
Consolidated Hallmark Holdings Plc led the gainers, rising by 10% to N7.15 from N6.50. Livestock Feeds Plc gained 9.77% to N14.60, and Mansard Insurance Plc advanced by 9.30% to N11.75. Other gainers included UPDC Plc, NPF Microfinance Bank Plc, AIICO Insurance Plc, FTG Insurance Plc, Dangote Cement Plc, Honeywell Flour Mills Plc and Unilever Nigeria Plc.
On the losing side, Champion Breweries Plc fell by 10% to N8.10, and Sunu Assurances Nigeria Plc declined by 10% to N2.70. Aradel Holdings Plc dropped by 9.99% to N1,296, while Vitafoam Nigeria Plc lost 9.97% to N157.20. Other losers included Cornerstone Insurance Plc, Sovereign Trust Insurance Plc, International Energy Insurance Plc, Abbey Mortgage Bank Plc, E-Tranzact International Plc and International Breweries Plc.
Market breadth and Dangote Refinery IPO
Market breadth closed negative with 21 gainers against 42 decliners. Trading volume declined by 48.15% from 997.57 million shares, while total value traded fell by 44.67% from N85.81 billion. Total deals increased by 42.63% to 54,015 transactions.
Earlier, Legit.ng reported that Dangote Petroleum Refinery closed its $1.6 billion initial public offering (IPO), attracting interest from 119 countries in what could become Africa's largest stock market listing. The offer, which closed on Tuesday, October 27, 2026, reportedly secured between $1.5 billion and $1.6 billion in fully funded commitments from Nigerian and retail investors alone.
