The Nigerian Exchange (NGX) closed lower for the sixth consecutive trading session on Wednesday, October 7, 2026, as investors lost N110.16 billion following sustained profit-taking in banking, consumer goods, and oil and gas stocks.
Data from the NGX showed that market capitalisation declined to N162.39 trillion from N162.495 trillion recorded in the previous session. The NGX All-Share Index (ASI) also fell by 176.75 points, representing a 0.07% decline, to close at 250,096.75 points from 250,273.50 points.
Trading Activity Declines as Volume Drops
Trading activity remained relatively strong, with 446.91 million shares exchanged in 38,808 deals. However, volume declined by 22.83% from 579.17 million shares traded in the previous session, while deals fell by 5.30%.
The decline was driven by profit-taking in banking, consumer goods, and oil and gas stocks, while insurance and industrial stocks provided some resistance to the broader market slide.
Sectoral Performance: Banking Leads Decline
The NGX Banking Index led the sectoral decline, dropping by 0.36%. The NGX Consumer Goods Index fell by 0.08%, while the NGX Oil/Gas Index declined by 0.09%.
In contrast, the NGX Insurance Index gained 0.03%, making it one of the sectors to resist the broader market decline. The NGX Industrial Index was largely flat, edging up by 0.002%.
The banking sector came under pressure as Wema Bank, Ecobank Transnational Incorporated, United Bank for Africa, Access Holdings, and Guaranty Trust Holding Company recorded losses.
Top Losers and Gainers on NGX
Thomas Wyatt Nigeria fell from N2.67 to N2.41, losing N0.26 (–9.74%). Sovereign Trust Insurance dropped from N2.50 to N2.31, shedding N0.19 (–7.60%). Livingtrust Mortgage Bank declined from N3.45 to N3.20, losing N0.25 (–7.25%).
Neimeth International Pharmaceuticals fell from N7.60 to N7.25, down N0.35 (–4.61%), while Veritas Kapital Assurance decreased from N1.13 to N1.08, losing N0.05 (–4.42%).
On the gainers' side, Tripple Gee and Company rose from N2.81 to N3.09, gaining N0.28 (+9.96%). Critical Minerals Financing Corp advanced from N3.65 to N4.01, adding N0.36 (+9.86%). Champion Breweries increased from N10.00 to N10.95, gaining N0.95 (+9.50%).
Coronation Insurance rose from N2.38 to N2.60, up N0.22 (+9.24%), while Multi-Trex Integrated Foods gained from N0.36 to N0.39, rising N0.03 (+8.33%).
Most Active Stocks and SEC Warning
A total of 446.91 million shares were exchanged in 38,808 deals as trading remained concentrated in financial stocks. Zenith Bank led trading with 34.90 million shares, followed by Critical Minerals Financing Corp with 32.76 million shares, Access Holdings with 25.28 million shares, and Sovereign Trust Insurance with 24.37 million shares. Financial Services stocks accounted for the largest share of trading activity across the exchange.
Earlier, Legit.ng reported that the Securities and Exchange Commission (SEC) had raised concerns over fraudulent schemes targeting investors interested in the N2.15 trillion Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals. The warning came as the refinery's public share offer opened to investors, attracting significant interest from members of the public.
In a notice signed by the Commission's management, the SEC said it had approved the public offer but warned that fraudsters could take advantage of the strong interest surrounding the transaction.
