By Boluwatife Oshadiya | October 11, 2026
Key Points
- Access Holdings, Zenith Bank and UBA traded 1.02 billion shares worth ₦50.52 billion, accounting for 37.56% of total equity volume
- NGX equity turnover value rose 2.08% to ₦158.28 billion, despite a decline in the volume of shares traded
- The All-Share Index fell 0.97% to 248,363.55 points as market breadth weakened, with 54 stocks declining against 24 gainers
Main Story
Access Holdings Plc, Zenith Bank Plc and United Bank for Africa Plc (UBA) led trading on the Nigerian Exchange (NGX) in the week ended October 9, 2026, exchanging 1.02 billion shares valued at ₦50.52 billion in 29,382 deals, according to the NGX weekly trading report.
The three equities accounted for 37.56% of total trading volume and 31.92% of transaction value, highlighting the significant contribution of major banking stocks to activity on the local bourse.
Overall, investors traded 2.715 billion shares worth ₦158.28 billion in 209,986 deals during the week. This compared with 3.166 billion shares valued at ₦155.02 billion in 206,662 deals in the preceding week. Transaction value consequently increased by 2.08%, even as trading volume declined.
The Financial Services Industry dominated activity, recording 2.005 billion shares worth ₦82.92 billion across 94,483 deals. The sector accounted for 73.84% of total equity turnover volume and 52.39% of transaction value.
The Consumer Goods Industry ranked second, with 152.345 million shares valued at ₦11.425 billion traded in 20,926 deals. The Information and Communications Technology industry followed, recording 117.296 million shares worth ₦15.256 billion in 22,556 deals.
Despite the increase in transaction value, the broader market closed lower. The NGX All-Share Index and market capitalisation declined by 0.97% to 248,363.55 points and ₦161.26 trillion, respectively. The NGX Industrial Goods Index was the only index reported to have gained, rising 0.02%.
Market breadth also weakened during the week. The number of advancing equities fell to 24 from 44 in the previous week, while declining stocks increased to 54 from 37. Another 68 equities closed unchanged, compared with 65 previously.
Livestock Feeds, Tripple Gee, Guinea Insurance, Learn Africa and Multi-Trex Integrated Foods led the gainers, with their share prices rising by ₦4.25, 76 kobo, 21 kobo, ₦1.50 and six kobo, respectively. Critical Minerals Financing Corp., ABC Transport, Japaul Gold, Fidelity Bank and Aradel Holdings led the decliners, shedding 91 kobo, ₦1.35, 32 kobo, ₦2.50 and ₦153, respectively.
The NGX also recorded new listings and a trading resumption during the week. Federal Government Savings Bonds issued in September 2026 were listed on Wednesday, alongside an additional 6.31 billion ordinary shares of 50 kobo each belonging to Guinea Insurance Plc. The exchange also lifted the suspension on trading in Multi-Trex Integrated Foods shares on the same day.
What’s Being Said
The NGX weekly trading report showed that equity transaction value increased despite lower trading volume, while the decline in the All-Share Index and the rise in the number of losing stocks pointed to weaker overall market performance.
The source report did not provide a direct quotation from the NGX, an analyst or another market stakeholder. No quotation has therefore been attributed to any individual.
What’s Next
- Trading activity: Investors will monitor whether turnover value remains elevated in the next trading week and whether banking stocks continue to account for a substantial share of market activity.
- Market direction: The next trading sessions will show whether the All-Share Index can recover from its 0.97% weekly decline and whether market breadth improves.
- Corporate developments: Investors will monitor trading in Guinea Insurance following its additional share listing and Multi-Trex Integrated Foods following the lifting of its trading suspension.
Bottom Line
The Bottom Line: Higher transaction value did not translate into a stronger equity market, as declining share prices and weaker market breadth pointed to broad-based selling pressure. The concentration of trading in financial services also reinforces the sector’s importance to NGX activity, while investors will need to assess whether subsequent sessions bring a recovery in market sentiment.
