Nigerian Equities Market Loses N262 Billion Amid Decline

On October 2, 2026, the Nigerian equities market continued its bearish trend, with an overall capitalization decrease of N262 billion. The All-Share Index (ASI) fell by 403.40 points, or 0.16 percent, closing at 250,808.27 points.

The market capitalization ended at N162.843 trillion, driven by price depreciation in significant stocks, including Nigerian Exchange Group, First Holdco, PZ Cussons Nigeria, Zichis Agro Allied Industries, and Unilever Nigeria. Investor sentiment was balanced, with 26 gainers matched by 26 losers.

AIICO Insurance and Trans-Nationwide Express were the highest price gainers, each rising by 10 percent to close at N4.18 and N2.97, respectively. Conversely, PZ Cussons Nigeria led the losers with a 9.91 percent drop to N66.40.

Trading activity saw a decline in volume and turnover by 46.19 percent and 48.60 percent, respectively, while deal count increased by 20.20 percent to 53,450 transactions. Cowry Assets Management Limited anticipates a potential market recovery driven by strong buying interest, though profit-taking may temper any rally.