NGX Closes Higher as Market Value Rebounds by N2.2trn
- Nigeria's stock market clawed back N2.20 trillion during the week ended November 13, as investors returned to selected equities
- The All-Share Index closed at 252,269.16 points, reversing part of the losses triggered by a N3.52 trillion sell-off after the late October rally
- Industrial goods stocks were the standout performers over the five-week review period, while banking stocks recorded the steepest decline
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria's stock market posted a significant rebound in the week ended Friday, November 13, 2026, as buying activity in selected stocks helped the Nigerian Exchange (NGX) recover N2.20 trillion in market capitalisation.
The All-Share Index rose by 3,391.94 points, or 1.36%, to close at 252,269.16 points, up from 248,877.22 points the previous week.
Total market capitalisation moved to about N163.80 trillion from N161.59 trillion.
Source: Getty Images
The recovery, however, did not fully restore the market to its recent high. Capitalisation had peaked at N165.42 trillion on November 4, following a rally that pushed the benchmark index to 254,762.81 points.
A wave of profit-taking that followed wiped roughly N3.52 trillion from market value within days.
Industrial goods stocks lead sectoral gains
A five-week review of sectoral performance, covering October 16 to November 13, placed industrial goods at the top. The NGX Industrial Goods Index jumped from 10,442.95 points to 12,380.99 points, a gain of 18.56%, making it the best-performing sector over the period.
Insurance stocks also bounced back in the final week, gaining 4.44% to close at 1,072.30 points, though the index still finished 0.67% lower across the five weeks.
Banking stocks bore the brunt of the broader correction.
The NGX Banking Index fell 6.62%, dropping from 2,532.47 points to 2,364.86 points.
Oil and gas stocks declined 4.19%, consumer goods shed 2.51%, the Pension Index lost 2.61%, and the Main-Board Index dropped 1.76%.
What triggered the sell-off
The profit-taking followed a strong rally in the final week of October, when the All-Share Index rose 2.86% to close at 254,299.49 points on October 30. Market capitalisation surged by about N4.60 trillion to N165.11 trillion during that week.
Trading volumes also climbed sharply. Investors exchanged 7.619 billion shares worth N637.83 billion across 192,138 deals, compared with 2.024 billion shares valued at N110.77 billion the week before. Financial services stocks, including First HoldCo, Access Holdings and Honeywell Flour Mills, drove much of that activity.
The rally extended into November 4 before sentiment shifted, sending the All-Share Index down 2.13% to 248,877.22 points by November 6 and pulling capitalisation back to N161.59 trillion.
Source: Getty Images
Market still up over five weeks
Despite the volatility, the NGX ended the five-week window in positive territory. The All-Share Index moved from 247,539.73 points on October 16 to 252,269.16 points on November 13, a gain of 1.91%.
Over the same period, market capitalisation grew from N160.73 trillion to N163.80 trillion, adding about N3.07 trillion in total.
Source: Legit.ng
