Nigerian Stocks Drop N1.33 Trillion Amid Sell-off Pressure

On October 8, 2026, the Nigerian equities market faced a sharp decline, with the All-Share Index (ASI) dropping by 2,054.25 points from 250,096.75 to 248,042.50, marking a 0.82% decrease. This decline was primarily driven by selling pressure on shares of Aradel Holdings Plc and MTN Nigeria Communications (MTNN).

As a result, the equity market capitalization fell by approximately N1.33 trillion, decreasing from N162.39 trillion to N161.05 trillion. The market breadth was negative, with 26 gainers compared to 32 losers. eTranzact International recorded the highest gain of 10%, closing at N12.10 per share, while Eterna and Aradel Holdings led the losers, each dropping by 10% to close at N41.40 and N1,377.00 respectively.

Trading activity showed mixed results, with total traded volume increasing by 10.1% to 492.23 million units, but transaction value plummeting by 83.4% to N3.80 billion. Futureview Group advised investors to focus on fundamentally sound stocks.