NGX Market Wrap: ASI Slips 0.02% on 2 Nov 2026
Market Wrap
The NGX All-Share Index (ASI) closed at 254,245.21 points on Monday, 2 November 2026, down 54.28 points or 0.02% from Friday’s 254,299.49. Equity market capitalisation stood at ₦165.07 trillion, per the official NGX Group update. Year-to-date return moderated to approximately 63.38%. Trading activity contracted, with volume at roughly 517.23 million shares, value traded at ₦47.48 billion, and deals around 53,900–54,000.
Market breadth was negative, with 23 advancers against 44 decliners (and a large number of unchanged stocks). Sector performance was mixed: the Banking Index fell about 1.79% on losses in Access Holdings, Zenith Bank, GTCO and Fidelity Bank, while the Oil & Gas Index declined sharply (around 3.75%) led by Aradel. Consumer goods also weakened. These pressures were nearly offset by strength in the Industrial Index, which rose roughly 3.34% as Dangote Cement reached a 52-week high of ₦1,490.00. The net result was a marginal ASI decline after two prior sessions of gains, reflecting selective profit-taking in heavyweights rather than broad capitulation. Turnover was lower than Friday’s elevated levels, consistent with the absence of large block activity in names such as First Holdco.
Top Gainers & Losers
| Ticker | Company | Sector | Close (₦) | % Change | Driver |
|---|---|---|---|---|---|
| CONHALLPLC | Consolidated Hallmark Holdings | Insurance | 7.15 | +10.00 | No disclosed catalyst |
| LIVESTOCK | Livestock Feeds | Agriculture | 14.60 | +9.77 | No disclosed catalyst |
| MANSARD | AXA Mansard Insurance | Insurance | 11.75 | +9.30 | No disclosed catalyst |
| CHAMPION | Champion Breweries | Breweries | 8.10 | -10.00 | No disclosed catalyst |
| SUNUASSUR | Sunu Assurances Nigeria | Insurance | 2.70 | -10.00 | No disclosed catalyst |
| ARADEL | Aradel Holdings | Oil & Gas | 1,296.00 | -9.99 | No disclosed catalyst |
CHAMPION and SUNUASSUR both closed at the -10.00% daily limit. CHAMPION is ranked ahead on higher value traded (higher price and volume). Remaining limit-down names, if any, are noted only here. Most moves lacked fresh company-specific catalysts on the day.
Corporate Disclosures
- Access Holdings: Filed 9M and H1 2026 unaudited results. Group PBT rose 8.3% YoY to ₦667.4 billion and PAT rose 5.9% to ₦474.2 billion, supported by a 73.5% drop in impairment charges. Investors will focus on core operating trends, capital allocation and the path to dividends.
- Conoil: Unaudited Q3 results showed revenue up 37.4% YoY and profit for the period up 262.3%. The sharp earnings expansion highlights operational leverage in the oil marketing segment.
- VFD Group: Q3 earnings press release reported PAT up 96% to ₦13.00 billion on 35% growth in gross earnings to ₦81.88 billion. Leadership succession and capital deployment from prior raises were also noted.
- Ellah Lakes: Filed Q3 unaudited results. Notable items include conversion of director loans to equity and ongoing litigation related to land assets.
- Multi-Trex Integrated Foods: Announced a delay in filing 2026 audited financial statements (originally due earlier), citing legacy AMCON-related record issues; expects filing by 20 November 2026. This extends uncertainty around full-year numbers.
- Routine items (voting rights announcements for GTCO and Airtel Africa, board meeting notice for DAAR Communications, REIT NAV update for UPDC REIT, and several NGX market bulletins on commercial paper and bonds) were also posted. These have limited near-term price impact for most investors.
What to Watch
Access Holdings and Conoil results will be scrutinised for sustainability of the impairment and revenue trends. Multi-Trex’s delayed filing remains a watchpoint into mid-November. No new closed periods or AGM dates of immediate market-wide significance were highlighted beyond the routine notices. Upcoming sessions will test whether industrial strength (especially Dangote Cement) can continue to offset banking and oil & gas weakness amid the elevated YTD return.
This content is for informational purposes only and is not investment advice.