NGX Market Capitalisation Drops N108.7 Billion on October 16

On October 16, 2026, trading on the Nigerian Exchange Limited (NGX) concluded with a bearish trend, resulting in a Market Capitalisation loss of N108.70 billion, decreasing from N160.83 trillion on October 15 to N160.73 trillion. The benchmark All-Share Index (ASI) fell by 167.40 points, or 0.07%, closing at 247,539.73 points.

Throughout the week, the index peaked at 247,736.24 points on October 12 and reached its lowest point of 247,513.63 points on October 13. Total equity trading activity involved the exchange of 257,669,053 shares across 31,972 deals.

Significant price reductions were observed in major banking stocks, including Guaranty Trust Holding Company (-2.27%), Stanbic IBTC Holdings (-2.14%), Zenith Bank (-1.33%), Sterling Financial Holdings (-0.58%), and United Bank for Africa (-0.35%), which contributed to a decline in the NGX Banking Index from 2,556.46 to 2,532.47 points. However, strong buying interest in technology, printing, and select Tier-2 financial stocks, such as Thomas Wyatt Nigeria (+10.00%), eTranzact International (+9.84%), and Fidelity Bank (+4.73%), mitigated the overall market downturn.

Sector performance on October 16 reflected a divide between declining financial benchmarks and resilient non-financial sectors, with the NGX Lotus Islamic Index rising from 23,164.84 points to 23,183.59 points and the NGX Industrial Index slightly increasing from 10,442.87 points to 10,442.95 points.