Negative sentiment persisted on the floor of the Nigerian Exchange Limited (NGX) on Thursday, October 8, 2026, as aggressive profit-taking and sell-offs wiped N1.33 trillion off the total valuation of listed equities in a single trading session.
The total market capitalisation of equities slid by 0.82% to close at N161.05 trillion, down from the N162.39 trillion recorded on Wednesday, October 7, 2026.
This decline extends the downtrend started from the first trading day of the week.
The benchmark NGX All-Share Index (ASI) fell in tandem, losing 2,054.25 points (or 0.82%) to close at 248,042.50 points. Total equity trading activity across all boards saw 492,137,063 shares exchanged across 38,644 deals.
Thursday’s reading marked the lowest index point of the week, falling from a week-high of 250,808.27 points.
The sharp downturn in daily market indicators was primarily driven by aggressive profit-taking and sell-offs in key sector heavyweights, led by the oil and gas industry.
Energy stocks Aradel Holdings Plc and Eterna Plc both hit maximum daily loss limits of 10.00%, losing N153.00 and N4.60 per share respectively, which dragged the NGX Oil/Gas Index down by 3.87%.
The broader market contraction was further deepened by declines in telecommunications giant MTN Nigeria Communications Plc, which dropped 3.54%, alongside pullbacks in prominent financial services equities including Fidelity Bank Plc (-4.96%) and United Bank for Africa Plc (-1.12%).
Although overall market liquidity remained active, recording 492.14 million shares traded across 38,644 deals, dominated by the Main and Premium Boards; trading flow was overwhelmingly dominated by market decliners.
Sectoral performance across the Nigerian Exchange was overwhelmingly negative on October 8, 2026, with the NGX Oil/Gas Index experiencing the most severe contraction, plunging 3.87% from 6,237.88 to close at 5,996.24.
Industrial stocks remained essentially flat, with the NGX Industrial Index easing slightly from 10,440.80 to 10,440.33. Bucking the broader market downturn, the NGX Consumer Goods Index was the sole gaining sector, posting a marginal rise of 0.08% from 4,023.60 to 4,026.79.
