Nigerian Market Loses N1.33 Trillion Amid Selling Pressure

On October 9, 2026, the Nigerian equities market faced a substantial downturn, losing N1.333 trillion, marking one of the steepest single-day declines in recent weeks. The All-Share Index decreased by 2,054.25 points, or 0.82 percent, closing at 248,042.50 points.

Market capitalisation fell to N161.052 trillion, driven by price depreciation in large and medium capitalised stocks, including Aradel Holdings, MTN Nigeria Communications, Eterna, Stanbic IBTC Holdings, and Fidelity Bank. The decline reflects increased selling pressure and a cautious market sentiment, moving further away from the 250,000 level.

Cowry Assets Management Limited indicated that the market may continue to experience pressure due to ongoing profit-taking affecting investor sentiment. Overall, 32 stocks declined while 26 gained, with eTranzact International leading gainers at 10 percent, closing at N12.10 per share.

Conversely, Eterna and Aradel Holdings topped the losers' chart, each down by 10 percent, closing at N41.40 and N1,377.00 respectively.