Best performing Nigerian stocks for the week ended October 23, 2026

Nigerian equities closed lower for a fourth straight week, with the benchmark NGX All-Share Index (ASI) declining 317.46 points, or 0.13%, to 247,222.27 from 247,539.73 points, as losses in insurance, oil and gas and banking stocks outweighed industrial goods.

Market capitalisation fell by about N210.89 billion to N160.519 trillion, leaving the year-to-date return at 58.87%.

However, the NGX recorded a significant rebound on Friday with the market capitalisation rising by about N1.47 trillion on Friday from N159.048 trillion.

Over the five trading days, ABC Transport led the gainers with a 20.66% rise to N7.30.

Conversely, Aradel Holdings, Vitafoam Nigeria and NGX Group recorded the largest per-share price declines while UPDC Real Estate Investment Trust fell 17.26%, the steepest percentage drop.

Market breadth turned negative, with 55 equities depreciating, up from 30 the week before, against 20 appreciating, down from 50. Seventy-one equities were unchanged.

The week was lopsided. After Monday’s close of 245,278.34 points, about 0.91% below the previous Friday, the index gained 0.26% on Tuesday, lost 0.32% on Wednesday and 0.07% on Thursday to reach a weekly low of 244,956.94 points, then rebounded 0.92% on Friday, adding 2,265.33 points.

The price declines in these stocks contributed to the drag in market performance.

Several stocks reversed the previous week’s moves. UPDC REIT, which fell 11.88% last week, fell again. Livestock Feeds gave back 10.26% after a 44.49% jump, and Omatek Ventures fell 12.50% after a 19.40% gain. Aradel dropped after last week’s 8.93% rise.

In banking, Fidelity Bank gained 14.01% while the sector index fell, and Nairametrics reported that First HoldCo shares rose 10% on October 23 after a nine-month profit surge.

Nairametrics reported that the market had shed N103.6 billion on October 22, taking the index to its weekly low, before Friday’s recovery lifted market capitalisation back above N160 trillion.

The ASI has fallen 0.52%, 0.97%, 0.33% and 0.13% in the last four weeks, but weekly losses have narrowed.

Friday’s 0.92% rebound shows buyers returned late in the week, though the week’s breadth of 55 decliners against 20 gainers remains weak.

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