Nigeria’s equities market suffered a ₦144.54 billion decline in market value on Tuesday, October 13, 2026, as banking and insurance stocks weighed on the benchmark index. The NGX All-Share Index lost 222.61 points (0.09%) to close at 247,513.63, while total equity market capitalisation fell from approximately ₦160.85 trillion to ₦160.71 trillion.
Despite the decline, more equities rose than fell. The weakness followed a 0.97% fall in the benchmark index during the week ended October 9, highlighting a period of uneven trading after strong gains earlier in the year.
Key Overview
- Market value: Equities lost ₦144.54 billion on October 13, with the All-Share Index down 0.09%.
- Financial stocks: Banking declined 0.79% and insurance fell 0.38%, outweighing gains in other sectors.
- Market breadth: 24 stocks advanced against 21 decliners, indicating that the losses were not market-wide.
- Trading activity: Approximately 394.2 million shares worth ₦21.38 billion changed hands; transaction value increased 7.61%.
- Subsequent session: The exchange recovered ₦103.90 billion in market value on October 14, partially reversing the previous day’s loss.
Banking and Insurance Stocks Drive the Decline
Financial stocks were the main source of weakness. The banking index fell 0.79%, with First HoldCo down 2.25%, GTCO losing 1.77%, Wema Bank declining 2.58% and Zenith Bank retreating 0.78%.
The insurance index dropped 0.38%, reflecting losses in major insurance counters including Mutual Benefits Assurance, which fell 5.49%, and AIICO Insurance, which declined 4.39%.
Other sectors provided some support. The consumer goods index gained 0.14%, helped by Nigerian Breweries, while oil and gas rose 0.11%, supported by stocks including Oando. Industrial goods was broadly unchanged, leaving gains elsewhere insufficient to offset the financial-sector decline.
More Stocks Gain Despite a Lower Benchmark
Market breadth was positive, with 24 gainers against 21 losers on the day. This divergence matters because the All-Share Index reflects companies’ market values rather than simply counting rising and falling share prices. Declines in larger companies can outweigh advances across a greater number of smaller stocks.
Among the gainers, eTranzact International rose 9.96% to ₦14.35, Wapic Insurance gained 7.83% to ₦2.48 and DAAR Communications advanced 7.25% to ₦1.48. Meanwhile, Legend Internet fell 6.85% to ₦3.40, Omatek Ventures lost 6.43% and Secure Electronic Technology declined 5.71%.
Context is everything. Stay ahead of shifting trends with today’s market updates, and uncover emerging opportunities using the Serrari Group Market Index and Marketplace. Then, take control of your own financial future by exploring our Money & Life Reset Transformation Blueprint ™ to build stronger habits, create better systems, and design a path toward lasting wealth.
Trading Value Rises as Share Volume Falls
Investors traded approximately 394.2 million shares valued at ₦21.38 billion across roughly 38,700 deals. Share volume dropped 2.76% from the previous session, while the number of deals fell by about 27%. Nevertheless, transaction value climbed 7.61%.
The comparison with Monday’s session indicates that fewer shares were exchanged overall, but the combined value of those trades increased. Access Holdings led activity by volume with 57.02 million shares, while GTCO recorded the highest traded value at ₦3.13 billion.
Wednesday Rebound Partly Reverses the Loss
The next session brought a recovery. On Wednesday, October 14, equity market capitalisation gained ₦103.90 billion to approximately ₦160.81 trillion. The All-Share Index rose 0.065% to 247,673.65 points as oil and gas, banking and insurance stocks advanced.
That rebound recovered part, but not all, of Tuesday’s decline. The two sessions illustrate why investors should look beyond the headline index to sector movements, company size and trading activity when assessing the broader market.
Sources: Nigerian Tribune / Nairametrics / Proshare / The Star / Business Times Nigeria
‘
Your financial future isn’t something you wait for—it’s something you build.
The real question is: when do you begin?
Move beyond simply staying informed.
Navigate the markets with clarity—track trends through the Serrari Group Market Index, uncover opportunities in the Serrari Marketplace, and build practical knowledge with our Curated Wealth Builder Platform.
Stay connected to what truly matters.
Get daily insights on macro trends and financial movements across Kenya, Africa, and global markets—delivered through the Serrari Newsletter.
Growth opens doors.
Advance your career through professional programs including ACCA, HESI A2, ATI TEAS 7 , HESI EXIT , NCLEX – RN and NCLEX – PN, Financial Literacy!🌟—designed to move you forward with confidence.
See where money is flowing—clearly and in real time.
Track Money Market Funds, Treasury Bills, Treasury Bonds, Green Bonds, and Fixed Deposits, alongside global and African indexes, key economic indicators, and the evolving Crypto and stablecoin landscape—all within Serrari’s Market Index.
