Investors Count Losses As NGX Market Cap Falls by N110.16bn
- The stock market extended its losing streak to 6 days on Wednesday, as investors lost N110.16 billion
- The decline was driven by profit-taking in banking, consumer goods, and oil & gas stocks, while insurance and industrial stocks
- Thomas Wyatt, Sovereign Trust Insurance, and Livingtrust Mortgage Bank were among the top decliners
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market closed negatively for the sixth consecutive trading session on Wednesday, October 7, 2026, as investors continued to take profits from selected stocks.
Data showed that market capitalisation declined by N110.16 billion to N162.39 trillion from N162.495 trillion recorded in the previous session.
Source: Getty Images
The NGX All-Share Index (ASI) also fell by 176.75 points, representing a 0.07% decline, to close at 250,096.75 points from 250,273.50 points.
Trading activity remained relatively strong, with 446.91 million shares exchanged in 38,808 deals. However, volume declined by 22.83% from 579.17 million shares traded in the previous session, while deals fell by 5.30%.
NGX sector performance breakdown
- NGX Banking Index led the sectoral decline, dropping by 0.36%.
- NGX Consumer Goods Index fell by 0.08%.
- NGX Oil/Gas Index declined by 0.09%.
- NGX Insurance Index gained 0.03%, making it one of the sectors to resist the broader market decline.
- NGX Industrial Index was largely flat, edging up by 0.002%.
The banking sector came under pressure as Wema Bank, Ecobank Transnational Incorporated, United Bank for Africa, Access Holdings and Guaranty Trust Holding Company recorded losses.
NGX top losers
- Thomas Wyatt Nigeria fell from N2.67 to N2.41, losing N0.26 (–9.74%).
- Sovereign Trust Insurance dropped from N2.50 to N2.31, shedding N0.19 (–7.60%).
- Livingtrust Mortgage Bank declined from N3.45 to N3.20, losing N0.25 (–7.25%).
- Neimeth International Pharmaceuticals fell from N7.60 to N7.25, down N0.35 (–4.61%).
- Veritas Kapital Assurance decreased from N1.13 to N1.08, losing N0.05 (–4.42%).
NGX top gainers
- Tripple Gee and Company rose from N2.81 to N3.09, gaining N0.28 (+9.96%).
- Critical Minerals Financing Corp advanced from N3.65 to N4.01, adding N0.36 (+9.86%).
- Champion Breweries increased from N10.00 to N10.95, gaining N0.95 (+9.50%).
- Coronation Insurance rose from N2.38 to N2.60, up N0.22 (+9.24%).
- Multi-Trex Integrated Foods gained from N0.36 to N0.39, rising N0.03 (+8.33%).
Source: Getty Images
Most active stocks on NGX
A total of 446.91 million shares were exchanged in 38,808 deals as trading remained concentrated in financial stocks.
- Zenith Bank led trading with 34.90 million shares.
- Critical Minerals Financing Corp traded 32.76 million shares.
- Access Holdings recorded 25.28 million shares.
- Sovereign Trust Insurance exchanged 24.37 million shares.
- Financial Services stocks accounted for the largest share of trading activity across the exchange.
SEC alerts investors to fraudulent Dangote Refinery IPO platforms
Earlier, Legit.ng reported that the Securities and Exchange Commission (SEC) had raised concerns over fraudulent schemes targeting investors interested in the N2.15 trillion Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
The warning came as the refinery's public share offer opened to investors, attracting significant interest from members of the public.
In a notice signed by the Commission's management, the SEC said it had approved the public offer but warned that fraudsters could take advantage of the strong interest surrounding the transaction.
Source: Legit.ng
