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.
Market summary
- All-Share Index (ASI): 247,513.63 points down 0.09% from 247,736.24 points
- Market Cap: N160.71 trillion, down 0.09% from N160.85 trillion
- Market value lost: N144.54 billion
- Trading volume: 394.16 million shares, down 2.76% from 405.36 million shares
- Total deals: 38,660 deals, down 26.91% from 52,891 deals
Top 5 gainers
- eTranzact International Plc: Up 9.96% to N14.35 from N13.05
- Wapic Insurance Plc: Up 7.83% to N2.48 from N2.30
- DAAR Communications Plc: Up 7.25% to N1.48 from N1.38
- Livestock Feeds Plc: Up 6.92% to N15.45 from N14.45
- Chams Holding Company Plc: Up 5.88% to N3.60 from N3.40
Top 5 losers
- Legend Internet Plc: Down 6.85% to N3.40 from N3.65
- Omatek Ventures Plc: Down 6.43% to N1.31 from N1.40
- Secure Electronic Technology Plc: Down 5.71% to N0.66 from N0.70
- Mutual Benefits Assurance Plc: Down 5.49% to N3.10 from N3.28
- AIICO Insurance Plc: Down 4.39% to N3.92 from N4.10
Driving the numbers
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
Sectoral performance on October 13, 2026, was primarily dominated by pullbacks across financial and blue-chip benchmark indices.
- The NGX Banking Index suffered the sharpest decline among primary industry sectors, falling 0.79% from 2,567.52 to 2,547.15. The NGX Insurance Index also retreated, dropping 0.38% to close at 1,078.46.
- Thematic and market-wide indicators reflected this financial sector drag: the NGX Corporate Governance (CG) Index slid 0.74% to 7,275.45, the NGX Pension Index fell 0.32% to 12,851.59, and the NGX Premium Index shed 0.30% to land at 31,116.26.
- Additionally, the benchmark NGX 30 Index eased 0.12% to 9,103.30, while the NGX Industrial Index remained virtually flat, closing at 10,442.71.
Conversely, a few key sectors demonstrated resilience and posted positive returns, providing partial mitigation against the broader market correction.
- The NGX Growth Index led the gainers, appreciating 0.20% from 26,641.50 to 26,695.94.
- The NGX Consumer Goods Index rose 0.14% to 4,040.96, supported by price increases in stocks like Nigerian Breweries (+1.88%) and Cadbury Nigeria (+0.50%).
- Similarly, the NGX Oil/Gas Index gained 0.11% to close at 6,000.20, bolstered by upward movement in energy firms such as Oando (+4.01%) and Japaul Gold (+4.31%).
- On a broader level, the NGX Main-Board Index also recorded a slight uptick of 0.06%, settling at 10,758.04.