Nigerian Stock Market Declines 0.06% Amid Profit-Taking

On October 5, 2026, the Nigerian stock market began the second week of trading in October on a negative note, with the major index declining by 0.06%. This decline was attributed to profit-taking in Nestle Nigeria Plc, which dropped by 5.2%.

The Nigerian Exchange Limited All-Share Index (NGX ASI) fell by 140.41 basis points to close at 250,667.86 basis points, while the overall market capitalization decreased by N91 billion to N162.752 trillion. Sector performance was mixed, with declines in the Insurance (-1.2%), Consumer Goods (-0.7%), and Oil & Gas (-0.1%) indices, while the Banking index rose by 0.4%.

Market breadth showed negative sentiment, with 24 gainers against 29 losers. Sovereign Trust Insurance led the gainers with a 10% increase, while Critical Minerals Financing Corporation (CMFC) topped the losers with a 9.80% decline.

The total volume traded decreased by 59.3% to 875.28 million units, valued at N40.88 billion across 53,887 deals. Cowry Assets Management anticipates a gradual market recovery despite ongoing profit-taking.