Nigerian Stocks Decline as Livestock Feeds Surges 47.75%

For the week ending October 9, 2026, Nigerian equities experienced a decline for the second straight week, with the benchmark NGX All-Share Index (ASI) decreasing by 0.97% to close at 248,363.55 points, down from 250,808.27 points. This decline was attributed to losses in several companies, including Aradel, Eterna, Fidelity Bank, First HoldCo, and GTCO, which outweighed gains in Oando and Zenith Bank.

The market capitalisation fell by approximately N1.58 trillion to N161.26 trillion, reducing the year-to-date return to 59.60% from 61.17%. Livestock Feeds emerged as the standout performer, increasing by 47.75% from N8.90 to N13.15, while Critical Minerals Financing Corp recorded the steepest decline, falling 20.27% to N3.58 from N4.49.

The market breadth was weak, with 24 equities appreciating and 54 depreciating. The NGX Industrial Goods Index was the only index to gain, rising 0.02%.

Analysts predict cautious market sentiment in the coming week due to persistent selling pressure.