NGX extends bearish run as investors lose N103.60bn

The Nigerian stock market closed in negative territory on Thursday, October 22, 2026, extending the previous session's losses as profit-taking in selected stocks weighed on market performance.

The NGX All-Share Index fell by 0.07% to close at 244,956.94 points, down from 245,116.49 points on Wednesday. Market capitalisation declined by about N103.60 billion, and the year-to-date return eased to 57.41%. Trading volume rose by 1.87% to 360.75 million shares, valued at N20.32 billion across 31,401 deals.

Losers drag index

Market sentiment stayed negative, with 16 equities advancing against 22 decliners. NGX Group fell by 4.69%, Oando dropped 4.17% and Wema Bank declined by 3.33%. Zenith Bank, Guaranty Trust Holding Company and United Bank for Africa also recorded losses.

Cornerstone Insurance and International Breweries traded at N4.60 and N9.05, respectively, below their 52-week lows.

Gainers and decliners

Access Holdings rose by 9.85% to N7.25 from N6.60. PZ Cussons Nigeria gained 8.58% to N68.95 from N63.50. Tantalizers advanced by 5.85% to N3.98 from N3.76. International Energy Insurance increased by 5.42% to N2.14 from N2.03.

Thomas Wyatt Nigeria fell by 10.00% to N2.52 from N2.80. Austin Laz and Company declined by 8.81% to N2.90 from N3.18. Nascon Allied Industries dropped by 6.85% to N0.68 from N0.73. UPDC lost 6.49% to N3.60 from N3.85. Cornerstone Insurance fell by 6.12% to N4.60 from N4.90.

Dangote student share grant

The Aliko Dangote Foundation (ADF) has unveiled a Student Share Grant Initiative that will give qualifying Nigerian students 10 free shares in Dangote Petroleum Refinery and Petrochemicals FZE after they subscribe to the company's ongoing initial public offering (IPO).

The programme is open to students aged 18 and above who are enrolled in public or private tertiary institutions across Nigeria. To qualify, students must complete a verification process and subscribe to at least 10 shares. The foundation will then fund the additional 10 shares in the student's name at no cost to them.