NGX loses N1.58 trillion as profit-taking interrupts 2026 rally

Nigerian equities ended the week to 9 October lower as investors took profits from one of the world's strongest year-to-date stock-market advances.

The Nigerian Exchange All-Share Index declined 0.97 percent to 248,363.55 points, while market capitalisation fell by N1.58 trillion to N161.26 trillion. Even after the retreat, the benchmark remained up 59.60 percent for the year.

Losses spread across most sectors

Twenty-four stocks advanced during the week, 54 declined and 68 were unchanged. Nineteen of the Exchange's 20 tracked indices closed lower; the industrial-goods index was the only gainer, edging up 0.02 percent.

Oil and gas stocks posted the steepest sector decline at 3.85 percent, followed by banking at 2.64 percent. The breadth of the pullback indicates that the loss was not confined to one unusually large company.

Higher value changed hands

Investors traded 2.715 billion shares, down 14.25 percent from the previous week's 3.166 billion. The value of transactions nevertheless rose 2.1 percent to N158.28 billion from N155.02 billion, suggesting that activity tilted toward higher-priced securities.

A one-week decline does not end a rally, but the divergence between strong year-to-date gains and weaker market breadth raises the bar for earnings and dividend news to sustain valuations.

Source

Nigerian Exchange, Weekly Market Report for the week ended 9 Oct 2026; market data reproduced in contemporaneous Nigerian financial-market reports.