Find out more as Investors lose N103.60bn as Nigerian stock market extends bearish run

• The NGX All-Share Index declined by 0.07% to 244,956.94 points, while market capitalisation fell by N103.60 billion
• Access Holdings, PZ Cussons Nigeria and Tantalizers led the gainers, while Thomas Wyatt Nigeria, Austin Laz
• Trading volume rose by 1.87% to 360.75 million shares, valued at N20.32 billion across 31,401 deals

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks and general market trends.

The Nigerian stock market closed in negative territory on Thursday, October 22, 2026, extending the previous session's losses as profit-taking in selected stocks weighed on market performance.

The benchmark NGX All-Share Index (ASI) fell by 0.07% to close at 244,956.94 points, down from 245,116.49 points recorded on Wednesday.

Consequently, market capitalisation declined by approximately N103.60 billion, while the market's year-to-date (YTD) return eased to 57.41%.

The decline was driven by losses in several stocks, including NGX Group, which fell by 4.69%, Oando, down 4.17%, and Wema Bank, which declined by 3.33%. Zenith Bank, Guaranty Trust Holding Company and United Bank for Africa also recorded losses.

Meanwhile, Cornerstone Insurance and International Breweries traded at N4.60 and N9.05, respectively, below their 52-week lows, according to the market report.

Market sentiment remained negative, with 16 equities advancing against 22 decliners.

NGX market summary

• All-Share Index: 244,956.94 points, down 0.07% from 245,116.49 points.
• Market capitalisation: Down by approximately N103.60 billion.
• Year-to-date return: 57.41%.
• Trading volume: 360.75 million shares, up 1.87%.
• Trading value: N20.32 billion.
• Total deals: 31,401 transactions.

NGX top gainers

• Access Holdings rose by 9.85% to N7.25 from N6.60.
• PZ Cussons Nigeria gained 8.58% to N68.95 from N63.50.
• Tantalizers advanced by 5.85% to N3.98 from N3.76.
• International Energy Insurance increased by 5.42% to N2.14 from N2.03.

NGX top losers

• Thomas Wyatt Nigeria fell by 10.00% to N2.52 from N2.80.
• Austin Laz and Company declined by 8.81% to N2.90 from N3.18.
• Nascon Allied Industries dropped by 6.85% to N0.68 from N0.73.
• UPDC lost 6.49% to N3.60 from N3.85.
• Cornerstone Insurance fell by 6.12% to N4.60 from N4.90.

Dangote offers students free shares in refinery IPO

Earlier, Legit.ng reported that the Aliko Dangote Foundation (ADF) has unveiled a Student Share Grant Initiative that will give qualifying Nigerian students 10 free shares in Dangote Petroleum Refinery and Petrochemicals FZE after they subscribe to the company's ongoing initial public offering (IPO).

The programme is open to students aged 18 and above who are enrolled in public or private tertiary institutions across Nigeria.

To qualify, students must complete a verification process and subscribe to at least 10 shares. The foundation will then fund the additional 10 shares in the student's name at no cost to them.

Source: Legit.ng

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