NGX sell-off wipes N1.33 trillion from investors’ wealth in one day
Negative sentiment persisted on the floor of the Nigerian Exchange Limited (NGX) on Thursday, October 8, 2026, as aggressive profit-taking and sell-offs wiped N1.33 trillion off the total valuation of listed equities in a single trading session. The post NGX sell-off wipes N1.33 trillion from investors’ wealth in one day appeared first on Nairametrics .
On Thursday, October 8, 2026, the Nigerian Exchange Limited (NGX) experienced a significant sell-off that resulted in the loss of N1.33 trillion from investors' wealth. The total market capitalization of listed equities dropped by 0.82% to N161.05 trillion, down from N162.39 trillion the previous day. The NGX All-Share Index (ASI) fell 0.82% to close at 248,042.50 points, marking the lowest index point of the week.
Trading activity was robust, with 492.14 million shares exchanged across 38,644 deals, a number that increased by 10.12% from the previous day's 446.91 million shares. However, the majority of trades were for declining stocks. The decline was primarily driven by profit-taking and sell-offs in key sector heavyweights, particularly in the oil and gas industry where Aradel Holdings Plc and Eterna Plc both hit maximum daily loss limits of 10%.
Other affected sectors included telecommunications, financial services, and consumer goods. Despite the overall negative sentiment, the NGX Consumer Goods Index was the only sector that showed a marginal increase.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
