Nigerian Stocks Decline as Livestock Feeds Surges 44.49%

For the week ending October 16, 2026, Nigerian equities continued to decline, marking the third consecutive week of losses. The benchmark NGX All-Share Index (ASI) fell by 0.33%, closing at 247,539.73 points, down from 248,363.55 points.

This decline was primarily driven by losses in banking stocks, particularly Zenith Bank, GTCO, and Fidelity Bank, which outweighed gains in the oil and gas sector, notably Aradel Holdings. Market capitalization decreased by approximately N534.77 billion, bringing it to N160.73 trillion, while the year-to-date return stood at 59.07%.

Livestock Feeds was the standout performer, surging 44.49% from N13.15 to N19.00, while UPDC Real Estate Investment Trust experienced the steepest decline, falling 11.88% to N21.15 from N24.00. The market breadth turned positive, with 50 equities appreciating in price, compared to 24 the previous week.

A total turnover of 1.659 billion shares worth N98.088 billion was traded in 184,632 deals.