SAT OCT 17 2026-theGBJournal| Nigerian equities fell for the week, dragged down by losses in banking stocks and heavyweight companies, as gains in oil and gas shares failed to offset selling pressure in the broader market.
The NGX All-Share Index declined 0.33% week-on-week to close at 247,539.73 points, while total market capitalisation fell by the same margin to N160.73 trillion, according to Nigerian Exchange data.
The decline moderated the market’s year-to-date return to 59.07%, from 59.18% in the previous session, leaving equities substantially higher for the year despite the latest pullback.
Banking stocks led sectoral losses, with the banking index shedding 3.15% over the week. Shares of Guaranty Trust Holding Company (GTCO) fell 5.10%, Access Holdings declined 3.39%, and MTN Nigeria Communications lost 1.79%, weighing on overall market performance.
Oil and gas stocks provided some support, with the sectoral index rising 3.13%. Guinness Nigeria gained 9.93%, Aradel Holdings advanced 8.93%, and Ecobank Transnational Incorporated rose 6.57%, although the gains were insufficient to reverse the market’s weekly decline.
The broader market showed signs of improved participation. Fifty equities gained during the week, more than double the 24 recorded in the previous week, while the number of decliners fell to 30 from 54. Another 66 stocks closed unchanged.
Friday’s session nevertheless ended lower, with the All-Share Index and market capitalisation each declining 0.07%.
Losses in GTCO, which fell 2.27%, Stanbic IBTC Holdings, down 2.14%, and FCMB Group, which shed 1.82%, outweighed gains in Fidelity Bank, up 4.73%, Access Holdings, which rose 0.71%, and MTN Nigeria, up 0.61%.
Trading activity weakened on Friday, with volume falling 10.12% to 257.73 million shares and transaction value declining 14.64% to N13.07 billion. The number of deals, however, increased 5.90% to 32,032.
Livestock Feeds led trading by volume, with 16.42 million shares exchanged, while GTCO topped the value chart with transactions worth N1.82 billion. Market breadth remained positive at 1.25 times, with 35 advancers against 28 decliners. E-Tranzact International led the gainers, rising 9.84%, while UPDC Real Estate Investment Trust fell 10.00%, the steepest decline.
In the over-the-counter market, the NASD Securities Index rose 0.11% to 4,351.84 points, while market capitalisation increased 0.12% to N2.61 trillion. The index’s year-to-date return improved to 22.80%, from 22.67% previously.
NASD trading activity surged, with volume jumping 3,295.77% to 68.61 million units and transaction value rising 731.53% to N214.58 million. The number of trades increased 140% to 24.
SDLIGHT Financial Services led NASD gainers, rising 9.68%, while SDFSTTRUSTMB was the sole decliner, falling 10.00%.
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