Nigerian Market Sees Decline Despite ABC Transport Gains
For the week ending October 23, 2026, Nigerian equities closed lower for the fourth consecutive week, with the NGX All-Share Index (ASI) declining by 317.46 points, or 0.13%, to 247,222.27 from 247,539.73 points. The market capitalisation decreased by approximately N210.89 billion to N160.519 trillion, resulting in a year-to-date return of 58.87%.
However, a significant rebound occurred on Friday, with market capitalisation rising by about N1.47 trillion from N159.048 trillion. Over the five trading days, ABC Transport (NGX: ABCTRANS) led the gainers with a 20.66% increase to N7.30.
In contrast, UPDC Real Estate Investment Trust (NGX: UPDCREIT) recorded the largest percentage decline at 17.26%. The market breadth turned negative, with 55 equities depreciating compared to 20 appreciating.
The ASI experienced a weekly low of 244,956.94 points before rebounding 0.92% on Friday, indicating a late-week return of buyers despite the overall weak market breadth.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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