Bearish sentiments dominated trading on the Nigerian Exchange Limited (NGX) on Monday, October 19, 2026, as market capitalisation plummeted by N1.47 trillion (0.91%) to close at N159.26 trillion, down from N160.73 trillion recorded at the close of trading on Friday.
The benchmark All-Share Index (ASI) surrendered 2,261.39 points, falling 0.91% from 247,539.73 points to 245,278.34 points.
This marked the lowest index point recorded over the five-day trading period, down from a weekly peak of 247,707.13 points set on October 15.
In total, equity market activity saw investors exchange 349,343,580 shares across 43,115 deals.
Market summary
- All-Share Index (ASI): 245,278.34 points, down 0.91% from 247,539.73 points
- Market cap: N159.26 trillion, down 0.91% from N160.73 trillion
- Market value lost: N1.47 trillion
- Trading volume: 349,343,580 shares, up 35.58% from 257.67 million shares
- Total deals: 43,115 deals, up 34.85% from 31,972 deals
Top 5 gainers
- Multi-Trex Integrated Foods Plc: Up 10.00% to N0.66 from N0.60
- Critical Minerals Financing Corp Plc (CMFC): Up 9.97% to N3.64 from N3.31
- Austin Laz & Company Plc: Up 9.93% to N3.21 from N2.92
- Thomas Wyatt Nigeria Plc: Up 9.92% to N2.66 from N2.42
- Neimeth International Pharmaceuticals Plc: Up 5.88% to N8.10 from N7.65
Top 5 losers
- Vitafoam Nigeria Plc: Down 10.00% to N174.60 from N194.00
- Cutix Plc: Down 9.79% to N2.12 from N2.35
- Omatek Ventures Plc: Down 9.38% to N1.45 from N1.60
- International Energy Insurance Plc: Down 6.48% to N2.02 from N2.16
- Linkage Assurance Plc: Down 6.29% to N1.64 from N1.75
Driving the numbers
Dangote Cement Plc, which carries a market capitalisation exceeding N17 trillion, experienced a 5.50% price drop, losing N58.70 per share to close at N1,008.00, directly forcing the NGX Industrial Index down from 10,442.95 to 10,140.51 points.
- Simultaneously, broad-based profit-taking across the banking sector pulled the NGX Banking Index down from 2,532.47 to 2,497.01 points, led by notable price declines in major institutions such as Ecobank Transnational Incorporated (-4.76%), Wema Bank Plc (-3.55%), United Bank for Africa Plc (-2.33%), Access Holdings Plc (-1.93%), Zenith Bank Plc (-1.59%), and Guaranty Trust Holding Company Plc (-1.44%).
- Compounding the downturn was a widespread retreat across major benchmark indices and secondary equities, with the NGX Premium Index falling from 30,927.80 to 30,371.64 points and the NGX 30 Index declining from 9,101.27 to 9,019.16 points.
Maximum percentage losses in mid-cap and consumer names further weighed on market sentiment, highlighted by Vitafoam Nigeria Plc sliding 10.00% to lead all losers, alongside notable declines in Cutix Plc (-9.79%), Omatek Ventures Plc (-9.38%), International Energy Insurance Plc (-6.48%), Linkage Assurance Plc (-6.29%), and E-Tranzact International Plc (-6.07%).
Sectoral performance
Sectoral performance across the Nigerian Exchange was characterized by broad-based pullbacks, led primarily by the industrial, banking, and insurance sectors.
The NGX Industrial Index recorded the steepest drop among key sectors, falling from 10,442.95 to 10,140.51 points, heavily impacted by a 5.50% price loss in Dangote Cement Plc.
- The NGX Banking Index retreated from 2,532.47 to 2,497.01 points, weighed down by sell-offs in Ecobank Transnational Incorporated (-4.76%), Wema Bank Plc (-3.55%), United Bank for Africa Plc (-2.33%), Access Holdings Plc (-1.93%), Zenith Bank Plc (-1.59%), and Guaranty Trust Holding Company Plc (-1.44%).
- Concurrently, the NGX Insurance Index slipped from 1,079.57 to 1,069.94 points, dragged down by price contractions in International Energy Insurance Plc (-6.48%), Linkage Assurance Plc (-6.29%), Guinea Insurance Plc (-6.25%), Regency Alliance Insurance Plc (-5.00%), and Lasaco Assurance Plc (-3.31%).
- Reflecting this institutional profit-taking, major cap-weighted benchmarks also closed lower, with the NGX Premium Index dropping from 30,927.80 to 30,371.64 points and the NGX 30 Index sliding from 9,101.27 to 9,019.16 points.
In contrast, the consumer goods and oil/gas sectors displayed stability, registering comparatively minor adjustments despite wider market headwinds.
- The NGX Consumer Goods Index dipped slightly from 4,036.97 to 4,030.50 points, as a 10.00% price drop in Vitafoam Nigeria Plc was largely cushioned by gains in Multi-Trex Integrated Foods Plc (+10.00%), International Breweries Plc (+1.50%), Honeywell Flour Mill Plc (+0.57%), and Unilever Nigeria Plc (+0.49%).
- The NGX Oil/Gas Index eased marginally from 6,194.00 to 6,190.11 points, influenced by subtle declines in Eterna Plc (-2.87%), Japaul Gold & Ventures Plc (-1.96%), and Oando Plc (-1.72%), while major energy listings Seplat Energy Plc and Aradel Holdings Plc closed flat.
Across other sub-markets, the NGX Growth Index softened from 26,888.42 to 26,765.65 points, whereas fixed income and commodity benchmarks remained entirely stable, with the NGX Sovereign Bond Index holding at 661.50 points and the NGX Commodity Index closing unchanged at 1,937.41 points.