Nigerian stocks lose N407.30 billion as banking sell-off drags NGX lower

The Nigerian stock market opened the week on Monday, October 12, 2026, in red. Total equities market capitalisation fell from N161.26 trillion on Friday, October 9 to N160.85 trillion, a loss of N407.30 billion.

The All-Share Index retreated by 627.31 points, or 0.25%, to close at 247,736.24 points, compared with Friday close of 248,363.55 points. Monday close was the lowest index level in the five-day trading window from October 6 to October 12, 2026. Turnover across all equity boards reached 405,359,288 shares in 52,891 deals.

Market summary

ASI: 247,736.24 points, down 0.25% from 248,363.55 points. Market capitalisation: N160.85 trillion, down 0.25% from N161.26 trillion. Market value lost: N407.30 billion. Trading volume: 405.36 million shares, up 25.88% from 322.01 million shares. Total deals: 52,891, up 40.08% from 37,758 deals.

Top gainers and losers

Neimeth International Pharmaceuticals Plc rose 10.00% to N7.70 from N7.00. UPDC Real Estate Investment Trust rose 10.00% to N26.40 from N24.00. Guinness Nigeria Plc rose 9.93% to N423.00 from N384.80. Livestock Feeds Plc rose 9.89% to N14.45 from N13.15. NPF Microfinance Bank Plc rose 9.52% to N4.60 from N4.20.

Sunu Assurances Nigeria Plc fell 9.85% to N2.93 from N3.25. Critical Minerals Financing Corp Plc fell 9.78% to N3.23 from N3.58. Oando Plc fell 7.55% to N33.65 from N36.40. LivingTrust Mortgage Bank Plc fell 6.25% to N3.00 from N3.20. Zichis Agro Allied Industries Plc fell 6.16% to N16.00 from N17.05.

Banking and energy drag

The NGX Banking Index dropped from 2,614.79 to 2,567.52 points. Access Holdings Plc fell 4.24%, Zenith Bank Plc 4.23%, Fidelity Bank Plc 2.62%, First Holdco Plc 2.54%, Sterling Financial Holdings 1.30%, Jaiz Bank Plc 1.27%, Wema Bank Plc 1.12%, and United Bank for Africa Plc 0.81%.

The NGX Oil & Gas Index dipped from 6,005.98 to 5,993.51 points. Oando Plc lost 7.55% and Japaul Gold & Ventures Plc fell 0.39%. Seplat Energy Plc held flat at N16,000.10.

Sector performance

Buy-side interest lifted Neimeth International Pharmaceuticals Plc 10.00%, UPDC Real Estate Investment Trust 10.00%, Guinness Nigeria Plc 9.93%, and MTN Nigeria Communications Plc 0.48%. Consumer Goods gained 0.05% and Insurance gained 0.14%, but they could not offset the N407.30 billion market capitalisation loss. Activity was heavily concentrated in Main and Premium board listings.

The NGX Consumer Goods Index rose from 4,033.36 to 4,035.46 points. Guinness Nigeria Plc gained 9.93%, Multi-Trex Integrated Foods Plc 9.52%, and Honeywell Flour Mill Plc 5.29%. PZ Cussons Nigeria Plc fell 0.76% and Dangote Sugar Refinery Plc 0.71%.

The NGX Insurance Index edged up from 1,081.10 to 1,082.56 points. Mutual Benefits Assurance Plc gained 6.49% and Regency Alliance Insurance Plc gained 6.49%, despite a 9.85% drop in Sunu Assurances Nigeria Plc. The NGX Industrial Index moved from 10,442.50 to 10,442.78 points, with Dangote Cement Plc and BUA Cement Plc unchanged.

Separately, FMDA projects N2.499 trillion money-market inflows as system liquidity falls 23.7%. Dangote Refinery extended its IPO subscription deadline to October 27. NNPC revenue hit N28.54 trillion in eight months.