NGX sheds N3.52 trillion this week as ASI drops 2.13% to 248,877 points

NGX lost N3.52 trillion in market capitalisation this week, with the All-Share Index falling 2.13% to 248,877.22 points by Friday's close. Market cap dropped to N161.59 trillion from N165.11 trillion, dragging the year-to-date return down to 59.93%. The sell-off mirrors global equity weakness and year-end portfolio rebalancing, with 57 decliners overwhelming 29 gainers.

Honeywell Flour Mills led gainers, surging 30.82% to N29.50 (up 63.89% since September), followed by Transcorp Power at 23.37% to N219.60. On the downside, Vitafoam plunged 18.96% to N141.50 and Sovereign Trust Insurance lost 17.02% to N1.95. Blue chips gave back October gains: Dangote Cement fell 5.56% to N1,341, First HoldCo dropped 7.68% to N110, and Access Holdings lost 5.94% to N26.90.

Industrial Goods (-4.35%) and Oil & Gas (-3.72%) sectors dragged the market, while Insurance barely moved (-0.03%). Trading volume collapsed 62.87% to 2.83 billion shares worth N208.4 billion, with Financial Services dominating 70% of volume. First HoldCo, Access Holdings, and Honeywell accounted for 35% of total turnover.

With large caps under pressure and thin trading, will you buy the dip on quality names like Dangote Cement or Zenith Bank, rotate into resilient mid-caps like Honeywell, or stay in cash until year-end positioning clears?

SOURCE: https://nairametrics.com/2026/11/07/best-performing-nigerian-stocks-for-the-week-ended-november-6/