NGX Loses N144.54 Billion Amid Bearish Market Trends

On October 13, 2026, the Nigerian Exchange (NGX) faced significant bearish pressure, resulting in a decline of N144.54 billion in equity market capitalization. The total equity market capitalization decreased from N160.85 trillion on October 12 to N160.71 trillion.

The benchmark NGX All-Share Index (ASI) fell by 222.61 points, or 0.09%, closing at 247,513.63 points, marking the lowest level during the trading window from October 7 to October 13. Market activity remained active, with investors trading 394,155,529 shares across 38,660 deals.

The NGX Banking Index saw a drop of 0.79%, influenced by losses in major financial institutions such as First HoldCo (-2.25%), GTCO (-1.77%), Wema Bank (-2.58%), Jaiz Bank (-1.94%), Access Holdings (-0.88%), Zenith Bank (-0.78%), and Fidelity Bank (-0.49%). The insurance sector also faced declines, with Mutual Benefits Assurance (-5.49%) and AIICO Insurance (-4.39%) contributing to a 0.38% drop in the NGX Insurance Index.

Overall, the market was characterized by pullbacks across financial and blue-chip indices, although some sectors showed resilience.