Nigerian Stock Market Loses N110.16bn Amid Profit-Taking

On October 7, 2026, the Nigerian stock market closed negatively for the sixth consecutive trading session, with market capitalization decreasing by N110.16 billion, resulting in a total of N162.39 trillion, down from N162.495 trillion in the previous session. The NGX All-Share Index (ASI) fell by 176.75 points, marking a 0.07% decline, closing at 250,096.75 points compared to 250,273.50 points previously.

Despite the negative trend, trading activity remained relatively strong, with 446.91 million shares exchanged across 38,808 deals. However, trading volume decreased by 22.83% from 579.17 million shares in the prior session, and the number of deals fell by 5.30%.

The banking sector faced pressure, with Wema Bank, Ecobank Transnational Incorporated, Access Holdings, and Guaranty Trust Holding Company all recording losses. Additionally, the Securities and Exchange Commission (SEC) issued a warning regarding fraudulent schemes targeting investors interested in a N2.15 trillion Initial Public Offering, emphasizing the need for caution amid heightened public interest.