Nigeria’s equities market lost N210.89 billion in market capitalisation during the week ended October 23, 2026, extending its losing streak to four consecutive weeks as declining stocks in the insurance, oil and gas, and banking sectors outweighed gains in industrial goods.
The market capitalisation fell to N160.519 trillion from N160.730 trillion, while the benchmark NGX All-Share Index (ASI) declined by 317.46 points, or 0.13 per cent, to close at 247,222.27 points from 247,539.73 points recorded the previous week.
Despite the weekly decline, the market staged a recovery on Friday, with market capitalisation rising by approximately N1.47 trillion to N160.519 trillion from N159.048 trillion in the previous session.
The rebound followed losses earlier in the week that pushed the benchmark index to a low of 244,956.94 points on Thursday.
The market’s year-to-date return stood at 58.87 per cent, although the continued decline in market breadth indicated that selling pressure remained widespread.
Data from the Nigerian Exchange showed that 55 equities depreciated during the week, compared with 30 in the previous week, while 20 stocks appreciated, down from 50. A further 71 equities closed unchanged.
ABC Transport led the gainers, rising 20.66 per cent to N7.30 from N6.05. AVA Capital followed with a 17.74 per cent increase to N7.30, while Caverton Offshore Support Group gained 17.07 per cent to N4.80.
Fidelity Bank rose 14.01 per cent to N24.00 from N21.05, while Multi-Trex Integrated Foods gained 10 per cent to close at N0.66. LivingTrust Mortgage Bank advanced 9.90 per cent to N3.22, while Meyer gained 9.72 per cent to N17.50.
Critical Minerals Financing Corporation rose 7.85 per cent to N3.57, Thomas Wyatt Nigeria gained 7.44 per cent to N2.60, and NASCON Allied Industries advanced 7.31 per cent to N183.50.
On the decliners’ chart, UPDC Real Estate Investment Trust recorded the steepest percentage loss, falling 17.26 per cent to N17.50 from N21.15. Omatek Ventures declined 12.50 per cent to N1.40, while University Press lost 12.12 per cent to close at N4.35.
Regency Alliance Insurance shed 11.25 per cent to N0.71, Nigerian Exchange Group fell 10.29 per cent to N152.50, and Livestock Feeds declined 10.26 per cent to N17.05.
Vitafoam Nigeria lost 10 per cent to N174.60, while CWG fell 9.98 per cent to N18.05. International Breweries declined 9.50 per cent to N9.05, while Tripple Gee and Company shed 8.74 per cent to close at N2.82.
In absolute price terms, Aradel Holdings recorded the largest decline, losing N94.90 per share, or 6.33 per cent, to close at N1,405.00 from N1,499.90. Vitafoam Nigeria followed with a N19.40 decline, while Nigerian Exchange Group shed N17.50.
Other stocks that recorded notable price declines included Custodian Investment, which lost N5.30 per share, Ecobank Transnational Incorporated, down N4.40, UAC of Nigeria, which shed N3.00, and Guaranty Trust Holding Company, down N2.80.
Trading activity increased during the week, with total volume rising to 2.024 billion shares valued at N110.773 billion in 173,113 deals, compared with 1.659 billion shares worth N98.088 billion in 184,632 deals in the previous week.
This represented a 22 per cent increase in volume and an approximately 13 per cent rise in transaction value, although the number of deals declined.
The Financial Services Industry led trading by volume, accounting for 1.111 billion shares valued at N53.908 billion in 81,787 deals. The sector contributed 54.89 per cent of total volume and 48.66 per cent of transaction value.
The Consumer Goods Industry followed with 394.039 million shares worth N9.811 billion, while the Agriculture Industry recorded 147.170 million shares valued at N2.821 billion.
Multi-Trex Integrated Foods, Zenith Bank and Livestock Feeds were the three most actively traded stocks by volume, accounting for a combined 521.565 million shares worth N19.093 billion in 16,487 deals.
The stocks contributed 25.76 per cent of total volume and 17.24 per cent of transaction value.
Sectoral performance was mixed, with the NGX Industrial Goods Index emerging as the strongest performer, gaining 1.95 per cent to close at 10,646.68 points. Its year-to-date return rose to 87.56 per cent.
The NGX Insurance Index declined 2.79 per cent to 1,049.43 points, extending its year-to-date loss to 11.76 per cent.
The NGX Oil and Gas Index fell 2.55 per cent to 6,035.77 points, reversing the previous week’s 3.13 per cent gain, although it maintained a year-to-date return of 126.04 per cent.
The NGX Commodity Index dropped 1.78 per cent to 1,902.87 points, while the Banking Index declined 0.67 per cent to 2,515.47 points.
The banking sector’s monthly loss stood at 7.25 per cent. The Consumer Goods Index also weakened, falling 0.55 per cent to 4,014.81 points.
The market’s weekly performance reflected persistent selling pressure despite Friday’s rebound. After closing at 245,278.34 points on Monday, the ASI gained 0.26 per cent on Tuesday before declining 0.32 per cent on Wednesday and 0.07 per cent on Thursday.
The index subsequently rose 0.92 per cent on Friday, adding 2,265.33 points as buyers returned to the market.
The ASI has now recorded weekly declines of 0.52 per cent, 0.97 per cent, 0.33 per cent and 0.13 per cent over the last four weeks, although the latest loss was narrower than those recorded in the preceding weeks.
