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Negative sentiment persisted on the floor of the Nigerian Exchange Limited (NGX) on Thursday, October 8, 2026, as aggressive profit-taking and sell-offs wiped N1.33 trillion off the total valuation of listed equities in a single trading session.
The total market capitalisation of equities slid by 0.82% to close at N161.05 trillion, down from the N162.39 trillion recorded on Wednesday, October 7, 2026.
This decline extends the downtrend started from the first trading day of the week.
The benchmark NGX All-Share Index (ASI) fell in tandem, losing 2,054.25 points (or 0.82%) to close at 248,042.50 points. Total equity trading activity across all boards saw 492,137,063 shares exchanged across 38,644 deals.
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Thursday’s reading marked the lowest index point of the week, falling from a week-high of 250,808.27 points.
Market summary
- All-Share Index (ASI): 248,042.50 points, down 0.82% from 250,096.75 points
- Market capitalisation: N161.05 trillion, down 0.82% from N162.39 trillion
- Market value lost: N1.33 trillion
- Trading volume: 492.14 million shares, up 10.12% from 446.91 million shares
- Total deals: 38,644 deals, down 0.42% from 38,808 deals
Top 5 gainers
- eTranzact International Plc: Up 10.00% to N12.10 from N11
- Livestock Feeds Plc: Up 9.09% to N12 from N11
- Guinea Insurance Plc: Up 8.97% to N0.85 from N0.78
- Learn Africa Plc: Up 8.93% to N9.15 from N8.40
- Multi-Trex Integrated Foods Plc: Up 7.69% to N0.42 from N0.39
Top 5 losers
- Eterna Plc: Down 10.00% to N41.40 from N46.00
- Aradel Holdings Plc: Down10.00% to N1,377 from N1,530
- Cutix Plc: Down 9.02% to N2.22 from N2.44
- Critical Minerals Financing Corp Plc: Down 8.98% to N3.65 from N4.01
- NPF Microfinance Bank Plc: Down 8.70% to N4.20 from N4.60
Driving the numbers
The sharp downturn in daily market indicators was primarily driven by aggressive profit-taking and sell-offs in key sector heavyweights, led by the oil and gas industry.
Energy stocks Aradel Holdings Plc and Eterna Plc both hit maximum daily loss limits of 10.00%, losing N153.00 and N4.60 per share respectively, which dragged the NGX Oil/Gas Index down by 3.87%.
The broader market contraction was further deepened by declines in telecommunications giant MTN Nigeria Communications Plc, which dropped 3.54%, alongside pullbacks in prominent financial services equities including Fidelity Bank Plc (-4.96%) and United Bank for Africa Plc (-1.12%).
Although overall market liquidity remained active, recording 492.14 million shares traded across 38,644 deals, dominated by the Main and Premium Boards; trading flow was overwhelmingly dominated by market decliners.
Sectoral performance
Sectoral performance across the Nigerian Exchange was overwhelmingly negative on October 8, 2026, with the NGX Oil/Gas Index experiencing the most severe contraction, plunging 3.87% from 6,237.88 to close at 5,996.24.
- Sharp selloffs in energy stocks placed heavy downward pressure on thematic and institutional benchmarks, driving the NGX Lotus Islamic Index down by 2.06% to 22,918.08 and the NGX Pension Index lower by 1.30% to 13,017.42.
- Major market gauge indicators also posted broad losses, as the NGX 30 Index shed 0.86% to settle at 9,124.73, while the NGX Premium Index and NGX Main-Board Index dropped by 0.85% to 31,242.54 and 0.81% to 10,763.46 respectively.
- The bearish sentiment trickled into other trading segments, as the NGX Commodity Index dropped 2.86% to 1,892.68, the NGX Insurance Index fell 0.44% to 1,088.85, and the NGX Banking Index edged down 0.18% to close at 2,639.74.
Industrial stocks remained essentially flat, with the NGX Industrial Index easing slightly from 10,440.80 to 10,440.33. Bucking the broader market downturn, the NGX Consumer Goods Index was the sole gaining sector, posting a marginal rise of 0.08% from 4,023.60 to 4,026.79.
