Nigerian Market Declines 0.29% Amid Profit-Taking

On September 29, 2026, the Nigerian equities market experienced a decline, with the NGX All-Share Index (ASI) falling by 0.29%, losing 653.64 points to close at 251,913.20 points. The market capitalization decreased by N420 billion, settling at N163.531 trillion.

This downturn was attributed to profit-taking and cautious investor sentiment following recent market gains. Notable declines were observed in large and medium capitalized stocks, including Unilever Nigeria, BUA Cement, Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, and May & Baker Nigeria.

Market sentiment remained negative, with 32 stocks declining compared to 27 gainers. NPF Microfinance Bank and Livingtrust Mortgage Bank were the highest gainers, each rising by 10% to close at N4.40 and N2.86, respectively.

Conversely, Sovereign Trust Insurance led the losers with a 9.92% drop to N2.36. The total traded volume decreased by 44.9% to 548.67 million units, valued at N34.30 billion, with GTCO leading in activity.