By Boluwatife Oshadiya | October 20, 2026
Key Points
- Nigerian Exchange market capitalisation falls by ₦1.47 trillion to ₦159.26 trillion as the All-Share Index declines 0.91%
- Dangote Cement, Ecobank Transnational and major banks lead losses among the stocks weighing on market performance
- Market breadth closes negative, with 40 decliners against 15 advancers as all five major sectors record losses
Main Story
Nigerian equities lost ₦1.47 trillion in market value on Monday as sell-offs in Dangote Cement, banking stocks and other large-cap counters pushed the Nigerian Exchange All-Share Index down 0.91%.
The index fell by 2,261.39 points to close at 245,278.34, while total market capitalisation declined by ₦1,468.30 billion to ₦159.26 trillion, according to the supplied trading data.
Dangote Cement led the major reported losses, falling 5.50%. Ecobank Transnational declined 4.76%, Zenith Bank dropped 1.59%, and Guaranty Trust Holding Company shed 1.44%.
Trading activity increased despite the market’s negative performance. The volume of shares traded rose by 35.57%, while transaction value increased by 37.94%. Approximately 349.40 million shares worth ₦18.03 billion changed hands in 43,193 deals.
Access Holdings accounted for 6.75% of traded volume, followed by Livestock Feeds at 6.66%, United Bank for Africa at 6.57%, Honeywell Flour Mills at 6.40% and GTCO at 4.16%. Aradel Holdings led by transaction value, accounting for 21.39% of the total.
Multitrex led the gainers with a 10% increase, followed by CMFC, Austin Laz and Thomas Wyatt, which rose by 9.97%, 9.93% and 9.92%, respectively. Vitafoam led the decliners, falling 10%, while Cutix dropped 9.79% and Omatek declined 9.38%.
Market breadth was negative, with 15 stocks advancing and 40 declining. All five major sectors closed lower: industrial goods fell 2.90%, banking declined 1.40%, insurance shed 0.89%, consumer goods lost 0.16% and oil and gas edged down 0.06%.
What’s Being Said
The supplied trading data point to broad selling pressure, particularly in industrial goods and banking stocks. No direct statement from the Nigerian Exchange or independent market analyst was included in the source material, so the reasons behind the session’s sell-off have not been independently established.
What’s Next
- Investors will watch the next trading session for signs of recovery in Dangote Cement and major banking stocks.
- Subsequent NGX sessions will show whether the broad sectoral decline continues or buyers return to the market.
- Market participants will monitor trading volume, market breadth and capitalisation for evidence of a change in sentiment.
Bottom Line
The Bottom Line: The decline was broad-based, with losses across all five major sectors and more stocks falling than rising. Higher trading activity alongside falling prices shows that substantial transactions continued during the sell-off, but further sessions are needed to establish whether the decline signals a sustained change in market sentiment.
