NGX Sell-off Leads to N1.33 Trillion Loss on October 8

On October 8, 2026, the Nigerian Exchange Limited (NGX) faced a substantial sell-off, erasing N1.33 trillion from investors' wealth in a single trading session. The total market capitalization of listed equities decreased by 0.82%, closing at N161.05 trillion, down from N162.39 trillion the previous day.

The NGX All-Share Index (ASI) fell by 2,054.25 points, or 0.82%, to end at 248,042.50 points, marking the lowest index point of the week. This decline was attributed to aggressive profit-taking and sell-offs, particularly in the oil and gas sector, where Aradel Holdings Plc and Eterna Plc both reached maximum daily loss limits of 10.00%.

The NGX Oil/Gas Index dropped by 3.87%. Other notable declines included MTN Nigeria Communications Plc, which fell by 3.54%, and financial services equities such as Fidelity Bank Plc (-4.96%) and United Bank for Africa Plc (-1.12%).

Despite active market liquidity, trading was dominated by decliners, with the NGX Consumer Goods Index being the only sector to gain, rising by 0.08%.