Nigerian Market Loses N3.28 Trillion Amid Major Stock Declines

On November 5, 2026, the Nigerian equities market lost approximately N3.28 trillion due to heavy selling in major stocks, particularly Dangote Cement (NGX: DANGCEM) and Presco, which each fell by 10%. Other notable declines included UACN at -7.85% and HBM Nigeria (NGX: HBMNG) at -7.71%.

The NGX All-Share Index (ASI) decreased by 1.98%, closing at 249,710.59 points, down from 254,762.81 points, resulting in a loss of 5,052.22 points. Market capitalization fell to N162.13 trillion from N165.42 trillion.

The year-to-date return decreased to 60.47% from 63.72%, while the month-to-date return turned negative at about -1.8%. Despite the decline, trading activity surged, with 856.28 million shares valued at N74.09 billion traded in 33,540 transactions.

The decline was primarily driven by selling in heavyweight stocks, particularly Dangote Cement, which accounted for roughly N2.5 trillion of the day's market value loss. Continued selling in large-cap stocks may lead to further volatility.