NGX slides as market cap drops to N164.19tn

Politics Spice Special Features Education Sex & Relationship Interview Columns Opinion Advertise with us NGX slides as market cap drops to N164.19tn Capital Market October 30, 2026 12:17 am NGX trading floor. Photo: NGX

Trading on the Nigerian Exchange Limited on Wednesday closed on a bearish note, as the market capitalisation and overall performance index recorded a slight contraction compared to the previous session.

Total market capitalisation dropped from N164.91tn recorded on Tuesday to N164.19tn. Similarly, the All-Share Index slipped by 1,107.28 points, closing at 252,882.78 points down from Tuesday’s peak of 253,990.06 points.

Over the trading cycle commencing 22 October 2026, the local bourse recorded a high of 253,990.06 points and touched a weekly low of 244,956.94 points, while macro indicators remained steady with the Central Bank of Nigeria retaining its benchmark Monetary Policy Rate at 23.00 per cent.

Equity trading was marked by mixed sentiment, with Sovereign Trust Insurance Plc leading the gainers after rising 10.00 per cent to close at N1.98, followed by UPDCREIT, which advanced 9.61 per cent to finish at N21.10. Other notable advancers included Austinlaz, United Bank for Africa Plc, and Critical Minerals Financing Corp.

On the losers’ chart, First Holdco Plc posted the steepest decline, shedding 10.00 per cent to close at N139.50, alongside Tripple Gee and Company, ETranzact International, Royal Exchange, and Fortis Global Insurance, which dropped between 4.76 per cent and 5.51 per cent.

In the Exchange Traded Products segment, Greenwich Alpha ETF and Stanbic IBTC ETF 30 both gained 3.59 per cent, while Vetiva S&P Nigeria Sovereign Bond ETF and Vetiva Consumer Goods ETF shed 5.79 per cent and 5.43 per cent, respectively.

The fixed income market witnessed upward movement in specific Federal Government savings bonds, led by FGS202774 and FGS202776, which rose 17.65 per cent and 11.11 per cent, with no price declines recorded in debt instruments for the session.

Jide, a seasoned journalist with over 12-year experience, reports business-related stories

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