Nigerian Exchange Loses N718.95 Billion Amid Market Decline

On October 28, 2026, the Nigerian equities market saw a significant decline, erasing N718.95 billion in equity market value. The total market capitalisation on the Nigerian Exchange Limited (NGX) decreased by 0.44%, settling at N164.19 trillion, down from N164.91 trillion on October 27.

The benchmark All-Share Index (ASI) fell by 1,107.28 points (0.44%), closing at 252,882.78 points compared to 253,990.06 points the previous day. Trading activity included a total volume of 404,078,938 shares exchanged across 38,970 deals.

The banking sector was notably affected, with the NGX Banking Index dropping from 2,574.61 to 2,513.96 points, led by a 10.00% decline in First Holdco Plc, which lost N15.50 to close at N139.50. Overall, 30 equities ended in the red while 26 advanced, indicating a negative breadth across key financial and industrial sectors.