Stock Market Down 0.06% on Profit-taking in Nestle, 28 Others
Kayode Tokede The Nigerian stock market commenced the second week trading in October 2026 on a negative note, as the major index declined by 0.06 per cent on investors’ profit-taking
The Nigerian stock market opened the second week of October 2026 on a negative note, with the main index falling by 0.06 percent due to investors taking profits in several companies. Nestle Nigeria Plc led the decline, shedding 5.2 percent of its value. The Nigerian Exchange Limited All-Share Index (NGX ASI) fell by 140.41 basis points, or 0.06 percent, to close at 250,667.86 points.
The overall market capitalization also dropped by N91 billion, closing at N162.752 trillion. While some sectors fared worse, others saw mixed performance. Insurance, Consumer Goods, and Oil & Gas indices declined, while Banking advanced. Industrial Goods remained flat. Market breadth indicated negative sentiment, with 24 stocks gaining and 29 losing.
Notable gainers included Sovereign Trust Insurance, FTN Cocoa Processors, and Tripple Gee & Company. Conversely, CMFC, ABC Transport, and Africa Prudential led the losers. Trading volume fell by 59.3 percent to 875.28 million units, totaling N40.88 billion in trades across 53,887 deals. The Access Holdings shares saw the highest activity with 440.653 million shares traded, valued at N13.229 billion.
Experts expect the market to gradually recover, but profit-taking and selective selling might slow the gains in the near term.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
