By Boluwatife Oshadiya | November 3, 2026
Key Points
- The NGX All-Share Index fell 0.02% to 254,245.21 points as losses in oil and gas, banking and consumer goods stocks weighed on the market
- Market capitalisation declined to ₦165.08 trillion, while market breadth weakened to 41 decliners against 21 advancers
- Trading value fell 44.67% to ₦47.48 billion, despite a 42.63% increase in the number of deals
Main Story
Nigerian equities opened November with a decline on Monday as losses in oil and gas, banking and consumer goods stocks outweighed gains in industrial and insurance counters.
The NGX All-Share Index fell 0.02% to 254,245.21 points from 254,299.49 points in the previous session. Market capitalisation closed at ₦165.08 trillion, while the market’s year-to-date return stood at 63.38%, according to the supplied market figures.
The Oil and Gas Index recorded the steepest sectoral decline, shedding 3.75% to 5,857.51 points. The Commodity Index fell 2.76%, the Banking Index lost 1.79%, and the Consumer Goods Index declined 1.17%. In contrast, the Industrial Index gained 3.34%, while the Insurance Index advanced 0.93%.
Market breadth was negative, with 41 stocks declining against 21 gainers. Champion Breweries and SUNU Assurances each fell 10%, while Aradel Holdings lost 9.99% to close at ₦1,296.00. Consolidated Hallmark Holdings led the gainers with a 10% rise to ₦7.15.
Trading activity was mixed. The number of deals increased 42.63% to 54,015, but volume traded fell 48.15% to 517.26 million shares. Transaction value declined 44.67% to ₦47.48 billion from ₦85.81 billion.
The figures indicate that the increase in transactions did not translate into higher market turnover, while losses across several major sectors left the benchmark index marginally lower.
What’s Being Said
The supplied market report attributes the session’s performance to losses in oil and gas, banking and consumer goods stocks, alongside gains in industrial and insurance counters. However, it does not include a direct statement from the Nigerian Exchange or an independent analyst’s assessment. Those responses should be obtained before publication if available.
What’s Next
- Investors will assess the next NGX trading session on Tuesday, November 3, for signs of whether selling pressure in banking and oil and gas counters continues
- Further trading data will show whether the rise in deal count is followed by a recovery in share volume and transaction value
The Bottom Line
The Bottom Line: The marginal decline in the All-Share Index understates the breadth of weakness across the market, with more stocks falling than rising and turnover dropping sharply. The contrast between industrial-sector gains and losses in banking and oil and gas shows that market performance remains uneven, making sector and stock selection important for investors.
