{"id":10977,"date":"2026-10-22T09:35:27","date_gmt":"2026-10-22T09:35:27","guid":{"rendered":"https:\/\/ograsset.com\/?p=10977"},"modified":"2026-10-22T09:35:29","modified_gmt":"2026-10-22T09:35:29","slug":"ngx-reverses-gains-as-bearish-pressure-wipes-out-n516-billion-in-market-value","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/10\/22\/ngx-reverses-gains-as-bearish-pressure-wipes-out-n516-billion-in-market-value\/","title":{"rendered":"NGX reverses gains as bearish pressure wipes out N516 billion in market value"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"620\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-44.png\" alt=\"\" class=\"wp-image-10978\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-44.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-44-300x191.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-44-768x488.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The Nigerian Exchange Limited (NGX) reversed its brief upward traction on Wednesday, returning to negative territory as N515.95 billion was wiped out of equities market capitalisation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The main benchmark All-Share Index (ASI) shed 794.64 points or 0.32%, closing at 245,116.49 points compared to 245,911.13 points recorded on Tuesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Total market capitalisation dropped from N159.67 trillion to N159.15 trillion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the overall decline in equity values, trading activity remained active across the floor as investors traded a total volume of 354.03 million shares across 32,514 deals in the equities market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Also Read<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/nairametrics.com\/2026\/10\/21\/guinness-nigerias-9m-2026-pre-tax-profit-rises-55-to-n61-65-billion-declares-interim-dividend\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>Guinness Nigeria\u2019s 9M 2026 pre-tax profit rises 55% to N61.65 billion, declares interim dividend<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/10\/21\/ava-capital-posts-n2-63-billion-9-month-profit-as-client-funds-hit-n77-79-billion\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>AVA Capital posts N2.63 billion 9-month profit as client funds hit N77.79 billion<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/10\/21\/ngx-fines-15-companies-n123-17-million-for-late-filings-experts-seek-tougher-sanctions\/?utm_source=auto-read-also&amp;utm_medium=web\"><strong>NGX fines 15 companies N123.17 million for late filings,\u00a0experts seek tougher sanctions<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Market summary<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>All-Share Index (ASI): 245,116.49 points, down 0.32% from 245,911.13 points<\/li>\n\n\n\n<li>Market cap: N159.15 trillion, down 0.32% from N159.67 trillion<\/li>\n\n\n\n<li>Market value lost: N515.95 billion<\/li>\n\n\n\n<li>Trading volume: 354.03 million shares, up 1.53% from 348.69 million shares<\/li>\n\n\n\n<li>Total deals: 32,514 deals, down 0.23% from 32,588 deals<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Top 5 gainers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Livingtrust Mortgage Bank Plc: Up 9.90% to N3.22 from N2.93<\/li>\n\n\n\n<li>ABC Transport Plc: Up 9.77% to N7.30 from N6.65<\/li>\n\n\n\n<li>Meyer Plc: Up 9.72% to N17.50 from N15.95<\/li>\n\n\n\n<li>Livestock Feeds Plc: Up 9.65% to N18.75 from N17.10<\/li>\n\n\n\n<li>Caverton Offshore Support Group Plc: Up 6.67% to N4.80 from N4.50<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Top 5 losers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Computer Warehouse Group (CWG) Plc: Down 9.98% to N18.05 from N20.05<\/li>\n\n\n\n<li>UPDC Real Estate Investment Trust (UPDCREIT): Down 9.93% to N19.05 from N21.15<\/li>\n\n\n\n<li>Austin Laz &amp; Company Plc: Down 9.92% to N3.18 from N3.53<\/li>\n\n\n\n<li>Neimeth International Pharmaceuticals Plc: Down 9.52% to N7.60 from N8.40<\/li>\n\n\n\n<li>CUSTODIAN: Down 7.57% to N64.70 from N70.00<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Driving the numbers<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The NGX Banking Index dropped by 1.49% to close at 2,456.31 points, dragged down by price contractions in major heavyweights including Access Holdings (-6.12%), First Holdco (-4.59%), Zenith Bank (-1.21%), Ecobank Transnational (-1.47%), and United Bank for Africa (-0.24%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly, the NGX Insurance Index fell 1.41% to 1,053.31 points following significant declines in counters such as Consolidated Hallmark Holdings (-7.14%), Regency Alliance Insurance (-6.41%), and Sovereign Trust Insurance (-5.58%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Negative market breadth further sustained the downturn, with 37 declining equities overwhelming 18 gainers and driving widespread losses across technology, real estate, and healthcare listings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sharp double-digit and near-limit drops in stocks like Computer Warehouse Group (-9.98%), UPDC Real Estate Investment Trust (-9.93%), Austin Laz &amp; Company (-9.92%), and Neimeth International Pharmaceuticals (-9.52%) significantly eroded equities capitalization.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Modest increases in counters like Livingtrust Mortgage Bank (+9.90%) and a 0.12% uptick in the NGX Oil\/Gas Index were insufficient to counteract losses across the NGX Consumer Goods Index (-0.43%) and the NGX Main-Board Index (-0.07%).<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Sectoral performance<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Sectoral performance on October 21, 2026, was predominantly bearish, driven by downward adjustments across major sector and board benchmarks.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The financial sector experienced the sharpest pressure, as the NGX Banking Index declined by 1.49% from 2,493.34 points to 2,456.31 points, while the NGX Insurance Index fell 1.41% from 1,068.32 points to 1,053.31 points.<\/li>\n\n\n\n<li>Underperformance extended across key governance and thematic indices, with the NGX CG Index dropping 1.05% to 7,104.12 points and the NGX Premium Index receding 0.69% to 30,330.55 points.<\/li>\n\n\n\n<li>Additionally, the NGX Consumer Goods Index decreased by 0.43% to close at 4,024.83 points, the NGX Pension Broad Index slid 0.30% to 4,925.56 points, and the NGX Main-Board Index trimmed 0.07% to finish at 10,769.39 points.<\/li>\n\n\n\n<li>In contrast, the energy sector provided a notable buffer against deeper market losses. The NGX Oil\/Gas Index advanced 0.12% to close at 6,197.74 points (up from 6,190.61 points), supported by price appreciation in Oando Plc (+4.50%) and Japaul Gold &amp; Ventures (+0.80%).<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, the NGX Industrial Index closed virtually flat at 10,258.94 points compared to 10,258.95 points on Tuesday, as strong gains in Meyer Plc (+9.72%) offset sharp losses in Austin Laz &amp; Company (-9.92%). Other specialized indicators saw minimal changes, including the NGX Lotus Islamic Index, which eased slightly from 23,167.70 points to 23,166.06 points.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/10\/21\/ngx-reverses-gains-as-bearish-pressure-wipes-out-n516-billion-in-market-value\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Exchange Limited (NGX) reversed its brief upward traction on Wednesday, returning to negative territory as N515.95 billion was wiped out of equities market capitalisation. The main benchmark All-Share Index (ASI) shed 794.64 points or 0.32%, closing at 245,116.49 points compared to 245,911.13 points recorded on Tuesday. Total market capitalisation dropped from N159.67 trillion&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/10\/22\/ngx-reverses-gains-as-bearish-pressure-wipes-out-n516-billion-in-market-value\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":10978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-10977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/10\/image-44.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=10977"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10977\/revisions"}],"predecessor-version":[{"id":10980,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10977\/revisions\/10980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/10978"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=10977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=10977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=10977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}