Best performing Nigerian stocks for the week ended October 9, 2026

Nigerian equities closed lower for the second straight week, with the benchmark NGX All-Share Index (ASI) declining 0.97% to close at 248,363.55 points from 250,808.27 points.

Losses in Aradel, Eterna, Fidelity Bank, First HoldCo and GTCO outweighed gains in Oando and Zenith Bank.

Market capitalisation fell by approximately N1.58 trillion to N161.26 trillion, moderating the market’s year-to-date return to 59.60% from 61.17% the previous week.

Livestock Feeds emerged as the week’s standout performer, surging 47.75% from N8.90 to N13.15. Critical Minerals Financing Corp recorded the steepest decline, falling 20.27% to N3.58 from N4.49.

What the data is saying:

Market breadth was weak, with 24 equities appreciating in price, lower than the 44 recorded the previous week. Fifty-four equities depreciated, higher than the 37 recorded previously, while 68 equities remained unchanged, higher than 65 the week before.

• A total turnover of 2.715 billion shares worth N158.280 billion was traded in 209,986 deals, compared with 3.166 billion shares valued at N155.023 billion in 206,662 deals the previous week.
• The Financial Services Industry led activity by volume, with 2.005 billion shares valued at N82.924 billion in 94,483 deals. That contributed 73.84% of total volume and 52.39% of total value.

The Consumer Goods Industry followed with 152.345 million shares worth N11.425 billion in 20,926 deals. The ICT Industry ranked third with 117.296 million shares worth N15.256 billion in 22,556 deals.

The top three equities by volume, Access Holdings, Zenith Bank and UBA, accounted for 1.020 billion shares worth N50.520 billion in 29,382 deals. That represents 37.56% of total volume and 31.92% of total value.

Sectoral performance:

Sector performance was broadly negative, with 19 of the 20 NGX indices declining. The NGX Industrial Goods Index recorded the only gain, up 0.02% to 10,442.50 points from 10,440.24 points, supported by Tripple Gee and CAP.

• The NGX Consumer Goods Index declined 0.58% to 4,033.36 points from 4,057.09 points.
• The NGX Insurance Index fell 1.74% to 1,081.10 points from 1,100.30 points, reversing the previous week’s 0.61% gain.
• The NGX Banking Index dropped 2.64% to 2,614.79 points from 2,685.71 points.
• The NGX Oil/Gas Index recorded the steepest sectoral decline, down 3.85% to 6,005.98 points from 6,246.75 points.

Among other indices, the NGX Commodity Index fell 2.86% to 1,892.68 points, the NGX Pension Index declined 2.12%, and the NGX Corporate Governance Index lost 1.89%.

Top 10 Best-Performing Stocks:

• Livestock Feeds Plc: N13.15, up 47.75% from N8.90.
• Tripple Gee and Company Plc: N3.09, up 32.62% from N2.33.
• Guinea Insurance Plc: N0.93, up 29.17% from N0.72.
• Learn Africa Plc: N9.15, up 19.61% from N7.65.
• Multi-Trex Integrated Foods Plc: N0.42, up 16.67% from N0.36.
• UPDC Real Estate Investment Trust: N24.00, up 16.22% from N20.65.
• Regency Alliance Insurance Plc: N0.77, up 10.00% from N0.70.
• E-Tranzact International Plc: N12.10, up 10.00% from N11.00.
• Chemical and Allied Products Plc: N108.50, up 8.50% from N100.00.
• UPDC Plc: N4.20, up 6.33% from N3.95.

Top 10 worst-performing stocks:

• Critical Minerals Financing Corp Plc: N3.58, down 20.27% from N4.49.
• ABC Transport Plc: N6.05, down 18.24% from N7.40.
• Japaul Gold & Ventures Plc: N2.56, down 11.11% from N2.88.
• Fidelity Bank Plc: N21.00, down 10.64% from N23.50.
• Aradel Holdings Plc: N1,377.00, down 10.00% from N1,530.00.
• Red Star Express Plc: N13.40, down 9.76% from N14.85.
• Thomas Wyatt Nigeria Plc: N2.41, down 9.74% from N2.67.
• Eterna Plc: N40.00, down 9.09% from N44.00.
• VFD Group Plc: N12.30, down 8.89% from N13.50.
• CWG Plc: N18.95, down 8.67% from N20.75.

What stands out:

The week’s market performance was a reversal of the previous one. ABC Transport, last week’s top performer with a 45.10% surge, fell 18.24%.

• Critical Minerals, which rose 37.73% the week before, was the week’s worst performer. Eterna, VFD Group and CWG, all among the previous week’s top gainers, appear on this week’s decliners’ list.
• Learn Africa rebounded 19.61% after featuring among the previous week’s top decliners. E-Tranzact also recovered, gaining 10.00% after losing 12.00% the week before.
• UPDC REIT extended its run, rising another 16.22% after a 10.13% gain in the preceding week.
• Aradel Holdings recorded the largest absolute naira decline among the top losers, shedding N153.00 per share. Chemical and Allied Products had the highest closing price among the top gainers, at N108.50.
• Banking weakness was broad, with Fidelity Bank down 10.64% after an 8.80% gain last week. Zenith Bank’s gain was marginal.

Industrial goods offered the only sector gain, which suggests selective buying rather than a broad recovery.

Corporate actions:

Guinea Insurance listed an additional 6,307,089,654 ordinary shares on Wednesday, October 7, 2026, arising from its private placement of 6,327,779,310 shares at N1.45 per share. Total issued shares rose from 11,149,638,021 to 17,456,727,675.

The NGX lifted the suspension on Multi-Trex Integrated Foods on Wednesday, October 7, 2026, after the company filed its outstanding financial statements.

Sterling Financial Holdings completed its share reconstruction. On Thursday, October 8, 2026, the NGX delisted 68,502,331,708 existing shares and listed 6,850,233,171 reconstructed shares at N77.00 per share. The suspension on its securities has been lifted.

What you should know:

The pullback follows a 0.52% decline in the previous week, and market breadth has weakened as sellers outnumbered buyers by more than two to one.

• Guinea Insurance’s 29.17% gain came in the same week its share count rose by about 56.6% following the placement listing. The stock closed at N0.93, below the N1.45 placement price, so investors should weigh price moves against the enlarged share base.
• Multi-Trex’s 16.67% gain came in its first trading week after the NGX lifted its suspension.
• Sterling’s N77.00 reference price reflects the 1-for-10 consolidation and is not a re-rating, so comparisons with its pre-reconstruction price of N7.70 should be adjusted.

Analysts expect the market to stay cautious in the coming week, as persistent selling pressure and negative breadth may weigh on sentiment. Bargain-hunting in fundamentally strong stocks could provide some support, and performance is likely to remain stock-specific.