{
  "id": 12494540,
  "title": "Stock Market Extends Downturn, Plummets by N256.05bn",
  "url": "https://urgent.news/2026/10/06/stock-market-extends-downturn-plummets-by-n256-05bn",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T23:27:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/07/stock-market-extends-downturn-plummets-by-n256-05bn/"
  },
  "original_language": "en",
  "account": "The Nigerian stock market plunged by N256.05 billion, marking the fifth consecutive day of losses as risk-averse sentiment dominated. The NGX All-Share Index slipped 0.16%, closing at 250,273.50 points, while total market capitalization shrank by N256.05 billion to N162.496 trillion. While some sectors, such as Banking and Insurance, saw modest gains, others, including Consumer Goods and Oil & Gas, remained flat. The downturn stemmed from declining prices of major stocks like First Holdco, Unilever Nigeria, and Fidson Healthcare. Investor sentiment remained negative, with 34 companies falling for every 26 that rose. Triple Gee & Company saw the largest gain, up 9.77%, while Livestock Feeds and NPF Microfinance Bank also posted gains. Conversely, Critical Minerals Financing Corporation led the decliners, falling 9.88%. Trading volume dropped 33.8% to 579.25 million units, with Fidelity Bank and United Bank for Africa leading in transaction activity. Analysts attributed the slump to bearish sentiment and reduced trading activity, with continued profit-taking and cautiousness among investors. They also noted that the Central Bank of Nigeria's recent MPR reset of 23.0% could provide some medium-term support, but liquidity constraints remain a challenge. The market's near-term direction will likely be influenced by bargain hunting in strong companies and earnings reports in October.",
  "summary": "Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) dropped by N256.05 billion to extend its losing streak for the fifth consecutive session as sustained risk-off sentiment dragged",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}