The Nigerian equities market reversed recent gains on Wednesday, October 28, 2026, erasing N718.95 billion in equity market value.<\/p>\n
At the close of trading on the Nigerian Exchange Limited (NGX), the total equities market capitalisation dropped by 0.44% to settle at N164.19 trillion, down from N164.91 trillion recorded on Tuesday, October 27.<\/p>\n
Similarly, the benchmark All-Share Index (ASI) fell by 1,107.28 points (0.44%) to close at 252,882.78 points, compared to Tuesday\u2019s closing level of 253,990.06 points.<\/p>\n
Overall trading activity saw investors exchange a total volume of 404,078,938 shares across 38,970 deals.<\/p>\n
\n\n
- All-Share Index (ASI): 252,882.78 points, down 0.44% from 253,990.06 points<\/li>\n
- Market cap: N164.19 trillion, down 0.44% from N164.91 trillion<\/li>\n
- Market value lost: N718.95 billion<\/li>\n
- Trading volume: 404.08 million shares, down 92.27% from 5.23 billion shares<\/li>\n
- Total deals: 38,970 deals, up 8.61% from 35,882 deals<\/li>\n<\/ul>\n<\/blockquote>\n
Top 5 gainers<\/strong><\/h4>\n
\n\n
- Sovereign Trust Insurance Plc: Up10.00% to N1.98 from N1.80<\/li>\n
- UPDC Real Estate Investment Trust: Up 9.61% to N21.10 from N19.25<\/li>\n
- Austin Laz & Company Plc: Up 9.21% to N2.61 from N2.39<\/li>\n
- United Bank for Africa Plc (UBA): Up 6.83% to N43.00 from N40.25<\/li>\n
- Critical Minerals Financing Corp Plc: Up 5.71% to N3.33 from N3.15<\/li>\n<\/ul>\n<\/blockquote>\n
Top 5 losers<\/strong><\/h4>\n
\n\n
- First Holdco Plc: Down 10.00% to N139.50 from N155.00<\/li>\n
- Tripple Gee and Company Plc: Down 5.51% to N2.40 from N2.54<\/li>\n
- eTranzact International Plc: Down 4.76% to N16.00 from N16.80<\/li>\n
- Royal Exchange Plc: Down 4.76% to N1.00 from N1.05<\/li>\n
- Fortis Global Insurance Plc: Down 4.76% to N1.60 from N1.68<\/li>\n<\/ul>\n<\/blockquote>\n
Driving the numbers<\/strong><\/h4>\n
Heavy profit-taking in the banking sector dragged the NGX Banking Index down from 2,574.61 to 2,513.96 points, led by a maximum 10.00% drop in First Holdco Plc (losing N15.50 to close at N139.50).<\/p>\n
\n
- This decline was further compounded by sell-offs in major financial institutions, including Fidelity Bank (-3.18%), GTCO (-1.79%), Wema Bank (-1.61%), and Zenith Bank (-0.41%).<\/li>\n
- Concurrently, price depreciation in industrial heavyweights such as BUA Cement (-1.21%) pulled the NGX Industrial Index down from 11,834.55 to 11,797.62 points, while elevated interest rates under the Central Bank of Nigeria\u2019s 23.00% Monetary Policy Rate maintained broader valuation pressure on equities.<\/li>\n
- Conversely, selective accumulation in defensive sectors and specific large-cap equities provided a moderate buffer against deeper losses.<\/li>\n
- Strong demand for United Bank for Africa Plc (UBA), which rallied 6.83% to N43.00 on a heavy volume of 38.48 million shares, helped offset part of the banking weakness.<\/li>\n
- Upside momentum in Sovereign Trust Insurance (+10.00%) alongside consumer goods tickers like Champion Breweries (+4.44%) and Dangote Sugar Refinery (+1.49%) lifted the NGX Consumer Goods Index from 4,014.14 to 4,019.16 points.<\/li>\n<\/ul>\n
However, with 30 equities ending in the red against 26 advancing stocks, negative breadth across key financial and industrial leaders ultimately dictated the market\u2019s bearish close.<\/p>\n
Sectoral performance<\/strong><\/h4>\n
The NGX Banking Index experienced a noticeable pullback, dropping from 2,574.61 to 2,513.96 points, while the broader NGX Premium Index fell from 33,313.06 to 33,039.39 points.<\/p>\n
\n
- Industrial and insurance sectors also faced downward pressure, as the NGX Industrial Index slipped from 11,834.55 to 11,797.62 points and the NGX Insurance Index eased from 1,030.64 to 1,029.35 points.<\/li>\n
- Additionally, the NGX 30 Index slid from 9,367.07 to 9,322.66 points, accompanied by slight declines in the NGX Oil\/Gas Index (from 6,088.52 to 6,086.43 points) and the NGX Lotus Islamic Index (from 23,808.49 to 23,801.27 points).<\/li>\n<\/ul>\n
In contrast, a few sector indicators managed to post modest gains despite the overall market retreat.<\/p>\n
\n
- The NGX Consumer Goods Index advanced slightly from 4,014.14 to 4,019.16 points, while the NGX Growth Index rose from 26,667.26 to 26,896.25 points.<\/li>\n
- Specialized indices also displayed mixed results; the NGX MERI Value Index increased from 23,634.73 to 23,911.82 points, and the NGX-AFR Bank Value Index picked up from 4,807.12 to 4,840.34 points, even as the NGX MERI Growth Index declined from 15,954.09 to 15,858.93 points.<\/li>\n<\/ul>\n
Meanwhile, fixed-income and commodity metrics remained flat, with the NGX Sovereign Bond Index holding steady at 666.44 points and the NGX Commodity Index closing unchanged at 1,895.58 points.<\/p>\n
Source: <\/p>\n
Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"The Nigerian equities market reversed recent gains on Wednesday, October 28, 2026, erasing N718.95 billion in equity market value. At the close of trading on the Nigerian Exchange Limited (NGX),… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2728","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2728"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2728\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}