The Nigerian equities market experienced a downturn on Tuesday, September 30, 2026, as the market capitalization of listed equities declined by 0.29 per cent to N163.530 trillion from N163.999 trillion reported the previous day. The NGX All Share Index also depreciated by 724.91 basis points to 251,913.20 points from 252,638.11 points it closed on Monday. This decline marks a significant shift in market sentiment.
The market breath was negative with 27 gainers against 32 decliners, bringing the year-to-date return to 61.90 per cent. Despite the overall market decline, some stocks managed to post gains. NPF Micro Finance Bank and Living Trust led the gainers' table with a 10 per cent increase to close at N4.40 and N2.86 per unit, respectively. Other notable gainers included Wapic Insurance, VFD Group, and ABC Transport.
On the contrary, Sovereign Trust Insurance topped the losers' chart, dropping by 9.92 per cent to close at N2.36 per unit. Unilever Nigeria Plc, Neimeth International Pharmaceutical, UPL, and International Breweries also recorded significant losses. The decline in these stocks contributed to the overall negative market performance.
The volume of trades also decreased significantly, with a decline of 485.73 million shares, representing 47.43 per cent. Investors traded 538.27 million shares against 1.024 billion shares recorded the previous day. The value of transactions also decreased by 15.76 per cent to settle at N33.36 billion in 46,865 deals.
In terms of market activities, transactions in the shares of GTCO Plc led the market with 88.729 million shares valued at N11.731 billion. United Bank for Africa followed with an account of 48.837 million shares valued at N2.227 billion. Fidelity Bank and Access Holdings Company also recorded significant trades.
The decline in the market capitalization and the negative market breath suggest a cautious approach by investors. The year-to-date return of 61.90 per cent, however, indicates that the market has performed well overall. The mixed performance of individual stocks reflects the diverse expectations of investors regarding the future prospects of these companies.
As the market continues to navigate through fluctuations, investors are likely to focus on the underlying fundamentals of the companies and the overall economic conditions. The Nigerian Exchange will continue to play a critical role in facilitating trading activities and providing a platform for companies to raise capital.
Key points
- The Nigerian equities market declined by N469 billion on Tuesday, driven by a 0.29 per cent decrease in market capitalization.
- The market breath was negative, with 27 gainers against 32 decliners, bringing the year-to-date return to 61.90 per cent.
- GTCO Plc led market activities with 88.729 million shares valued at N11.731 billion.
