The Nigerian equities market reversed latest positive factors on Wednesday, October 28, 2026, erasing N718.95 billion in fairness market worth.
At the shut of buying and selling on the Nigerian Exchange Limited (NGX), the whole equities market capitalisation dropped by 0.44% to settle at N164.19 trillion, down from N164.91 trillion recorded on Tuesday, October 27.
Similarly, the benchmark All-Share Index (ASI) fell by 1,107.28 points (0.44%) to shut at 252,882.78 points, in comparison with Tuesday’s closing degree of 253,990.06 points.
Overall buying and selling exercise noticed buyers change a complete quantity of 404,078,938 shares throughout 38,970 offers.
Market abstract
- All-Share Index (ASI): 252,882.78 points, down 0.44% from 253,990.06 points
- Market cap: N164.19 trillion, down 0.44% from N164.91 trillion
- Market worth misplaced: N718.95 billion
- Trading quantity: 404.08 million shares, down 92.27% from 5.23 billion shares
- Total offers: 38,970 offers, up 8.61% from 35,882 offers
Top 5 gainers
- Sovereign Trust Insurance Plc: Up10.00% to N1.98 from N1.80
- UPDC Real Estate Investment Trust: Up 9.61% to N21.10 from N19.25
- Austin Laz & Company Plc: Up 9.21% to N2.61 from N2.39
- United Bank for Africa Plc (UBA): Up 6.83% to N43.00 from N40.25
- Critical Minerals Financing Corp Plc: Up 5.71% to N3.33 from N3.15
Top 5 losers
- First Holdco Plc: Down 10.00% to N139.50 from N155.00
- Tripple Gee and Company Plc: Down 5.51% to N2.40 from N2.54
- eTranzact International Plc: Down 4.76% to N16.00 from N16.80
- Royal Exchange Plc: Down 4.76% to N1.00 from N1.05
- Fortis Global Insurance Plc: Down 4.76% to N1.60 from N1.68
Driving the numbers
Heavy profit-taking in the banking sector dragged the NGX Banking Index down from 2,574.61 to 2,513.96 points, led by a most 10.00% drop in First Holdco Plc (dropping N15.50 to shut at N139.50).
- This decline was additional compounded by sell-offs in main monetary establishments, together with Fidelity Bank (-3.18%), GTCO (-1.79%), Wema Bank (-1.61%), and Zenith Bank (-0.41%).
- Concurrently, value depreciation in industrial heavyweights such as BUA Cement (-1.21%) pulled the NGX Industrial Index down from 11,834.55 to 11,797.62 points, whereas elevated rates of interest below the Central Bank of Nigeria’s 23.00% Monetary Policy Rate maintained broader valuation strain on equities.
- Conversely, selective accumulation in defensive sectors and particular large-cap equities offered a reasonable buffer in opposition to deeper losses.
- Strong demand for United Bank for Africa Plc (UBA), which rallied 6.83% to N43.00 on a heavy quantity of 38.48 million shares, helped offset a part of the banking weak point.
- Upside momentum in Sovereign Trust Insurance (+10.00%) alongside client items tickers like Champion Breweries (+4.44%) and Dangote Sugar Refinery (+1.49%) lifted the NGX Consumer Goods Index from 4,014.14 to 4,019.16 points.
However, with 30 equities ending in the crimson in opposition to 26 advancing stocks, destructive breadth throughout key monetary and industrial leaders in the end dictated the market’s bearish shut.
Sectoral efficiency
The NGX Banking Index skilled a noticeable pullback, dropping from 2,574.61 to 2,513.96 points, whereas the broader NGX Premium Index fell from 33,313.06 to 33,039.39 points.
- Industrial and insurance coverage sectors additionally confronted downward strain, as the NGX Industrial Index slipped from 11,834.55 to 11,797.62 points and the NGX Insurance Index eased from 1,030.64 to 1,029.35 points.
- Additionally, the NGX 30 Index slid from 9,367.07 to 9,322.66 points, accompanied by slight declines in the NGX Oil/Gas Index (from 6,088.52 to six,086.43 points) and the NGX Lotus Islamic Index (from 23,808.49 to 23,801.27 points).
In distinction, a number of sector indicators managed to submit modest positive factors regardless of the general market retreat.
- The NGX Consumer Goods Index superior barely from 4,014.14 to 4,019.16 points, whereas the NGX Growth Index rose from 26,667.26 to 26,896.25 points.
- Specialized indices additionally displayed combined outcomes; the NGX MERI Value Index elevated from 23,634.73 to 23,911.82 points, and the NGX-AFR Bank Value Index picked up from 4,807.12 to 4,840.34 points, even as the NGX MERI Growth Index declined from 15,954.09 to fifteen,858.93 points.
Meanwhile, fixed-income and commodity metrics remained flat, with the NGX Sovereign Bond Index holding regular at 666.44 points and the NGX Commodity Index closing unchanged at 1,895.58 points.
