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BANKING STOCKS
Nigerian equities closed lower for the third straight week, with the benchmark NGX All-Share Index (ASI) declining 0.33% to close at 247,539.73 points from 248,363.55 points.
Trading activities on the floor of the Nigerian Exchange Limited (NGX) closed on a bearish note on Friday, October 16, 2026, as Market Capitalisation of listed equities lost N108.70 billion (or 0.07%), declining from N160.83 trillion recorded on Thursday, October 15, to close at N160.73 trillion.
The dominance of banks among Nigeria's most valuable and best-performing listed companies is a sign of deeper structural weaknesses in the economy rather than evidence of economic strength.
Nigerian stocks fell modestly after the Independence Day holiday. The NGX All-Share Index declined 0.16% to 250,808.27 points, market...
Nigerian Exchange (NGX) benchmark All-Share Index (ASI) slipped by 403.40 points (0.16%) on Friday, October 2, 2026, to close at 250,808.27 points, down from 251,211.67 points recorded in the previous session; Wednesday, September 30, 2026.
Profit-taking and selling pressure continue to exert downward influence on the Nigerian Exchange (NGX), resulting in widespread sell-offs across major banking equities.
The first week of June concluded with a broadly bearish sentiment on the Nigerian Exchange (NGX), as the overall market witnessed declines.
Banking stocks dragged the NGX to a second consecutive day of losses on May 23, as they cumulatively lost N108.54 billion of their market value.
Nigerian banking stocks have experienced a dismal second quarter thus far. This downtrend follows the Central Bank's announcement on banking recapitalization, which has set expectations for further declines in share prices.
Since the start of April 2024, the NGX has been a bearish run, with the All-Share Index declining by 6.16%, and the market capitalization declining by N3.63 trillion within the same period.
The NGX continued its bearish trajectory for the second consecutive week as the market recorded a 1.09% decline during the week ending April 12, 2024, to close at 102,314.56 points from the previous week’s 103,437.67 points.
Professor Uche Uwaleke has urged the Nigerian Exchange Limited (NGX) to designate banking stocks as Systemically Important Stocks (SIS).