NGX sheds N144.54 billion as bearish pressure persists

Bearish sentiment extended its grip on the Nigerian Exchange (NGX) on Tuesday, October 13, 2026, pulling equity market capitalization down by N144.54 billion in a single trading session.

Total equity market capitalization dropped from N160.85 trillion on Monday, October 12, to close at N160.71 trillion.

Concurrently, the benchmark NGX All-Share Index (ASI) fell by 222.61 points (or 0.09%), settling at 247,513.63 points. This marks the lowest index level reached during the trading window from October 7 to October 13.

Market activity across equities remained vibrant, with investors trading 394,155,529 shares across 38,660 deals.

Market summary

• All-Share Index (ASI): 247,513.63 points down 0.09% from 247,736.24 points
• Market Cap: N160.71 trillion, down 0.09% from N160.85 trillion
• Market value lost: N144.54 billion
• Trading volume: 394.16 million shares, down 2.76% from 405.36 million shares
• Total deals: 38,660 deals, down 26.91% from 52,891 deals

Top 5 gainers

• eTranzact International Plc: Up 9.96% to N14.35 from N13.05
• Wapic Insurance Plc: Up 7.83% to N2.48 from N2.30
• DAAR Communications Plc: Up 7.25% to N1.48 from N1.38
• Livestock Feeds Plc: Up 6.92% to N15.45 from N14.45
• Chams Holding Company Plc: Up 5.88% to N3.60 from N3.40

Top 5 losers

• Legend Internet Plc: Down 6.85% to N3.40 from N3.65
• Omatek Ventures Plc: Down 6.43% to N1.31 from N1.40
• Secure Electronic Technology Plc: Down 5.71% to N0.66 from N0.70
• Mutual Benefits Assurance Plc: Down 5.49% to N3.10 from N3.28
• AIICO Insurance Plc: Down 4.39% to N3.92 from N4.10

Driving the numbers

The NGX Banking Index dropped 0.79%, weighed down by losses in tier-1 institutions and major financial holdings including First HoldCo (-2.25%), GTCO (-1.77%), Wema Bank (-2.58%), Jaiz Bank (-1.94%), Access Holdings (-0.88%), Zenith Bank (-0.78%), and Fidelity Bank (-0.49%).

In the insurance sector, Mutual Benefits Assurance (-5.49%) and AIICO Insurance (-4.39%) recorded significant drops, pulling the NGX Insurance Index down by 0.38%.

These sector-specific declines contributed to broader losses in thematic indices such as the NGX Corporate Governance Index (-0.74%) and the NGX Premium Index (-0.30%).

Sectoral performance

Sectoral performance on October 13, 2026, was primarily dominated by pullbacks across financial and blue-chip benchmark indices.

• The NGX Banking Index suffered the sharpest decline among primary industry sectors, falling 0.79% from 2,567.52 to 2,547.15. The NGX Insurance Index also retreated, dropping 0.38% to close at 1,078.46.
• Thematic and market-wide indicators reflected this financial sector drag: the NGX Corporate Governance (CG) Index slid 0.74% to 7,275.45, the NGX Pension Index fell 0.32% to 12,851.59, and the NGX Premium Index shed 0.30% to land at 31,116.26.
• Additionally, the benchmark NGX 30 Index eased 0.12% to 9,103.30, while the NGX Industrial Index remained virtually flat, closing at 10,442.71.

Conversely, a few key sectors demonstrated resilience and posted positive returns, providing partial mitigation against the broader market correction.

• The NGX Growth Index led the gainers, appreciating 0.20% from 26,641.50 to 26,695.94.
• The NGX Consumer Goods Index rose 0.14% to 4,040.96, supported by price increases in stocks like Nigerian Breweries (+1.88%) and Cadbury Nigeria (+0.50%).
• Similarly, the NGX Oil/Gas Index gained 0.11% to close at 6,000.20, bolstered by upward movement in energy firms such as Oando (+4.01%) and Japaul Gold (+4.31%).
• On a broader level, the NGX Main-Board Index also recorded a slight uptick of 0.06%, settling at 10,758.04.