Bearish sentiment extended its grip on the Nigerian Exchange (NGX) on Tuesday, October 13, 2026, pulling equity market capitalization down by N144.54 billion in a single trading session.
Total equity market capitalization dropped from N160.85 trillion on Monday, October 12, to close at N160.71 trillion.
Concurrently, the benchmark NGX All-Share Index (ASI) fell by 222.61 points (or 0.09%), settling at 247,513.63 points. This marks the lowest index level reached during the trading window from October 7 to October 13.
Market activity across equities remained vibrant, with investors trading 394,155,529 shares across 38,660 deals.
The NGX Banking Index dropped 0.79%, weighed down by losses in tier-1 institutions and major financial holdings including First HoldCo (-2.25%), GTCO (-1.77%), Wema Bank (-2.58%), Jaiz Bank (-1.94%), Access Holdings (-0.88%), Zenith Bank (-0.78%), and Fidelity Bank (-0.49%).
In the insurance sector, Mutual Benefits Assurance (-5.49%) and AIICO Insurance (-4.39%) recorded significant drops, pulling the NGX Insurance Index down by 0.38%.
These sector-specific declines contributed to broader losses in thematic indices such as the NGX Corporate Governance Index (-0.74%) and the NGX Premium Index (-0.30%).
Sectoral performance on October 13, 2026, was primarily dominated by pullbacks across financial and blue-chip benchmark indices.
Conversely, a few key sectors demonstrated resilience and posted positive returns, providing partial mitigation against the broader market correction.
