RismadarVoice Reporters
October 19, 2026
The Nigerian stock market has recorded its third consecutive weekly decline, with investors losing more than ₦535 billion amid sustained selling pressure, despite a continued slowdown in inflation.
Trading data from the Nigerian Exchange Limited (NGX) showed that the All-Share Index fell by 0.33 per cent to 247,539.73 points, compared with 248,363.55 points in the preceding week.
The downturn followed losses in major equities, including Zenith Bank, which declined by 6.5 per cent, Guaranty Trust Holding Company (GTCO) by 4.4 per cent, First HoldCo by 3.9 per cent and MTN Nigeria by 1.8 per cent.
The market’s month-to-date return stood at negative 1.5 per cent, while its year-to-date gain remained positive at 59.1 per cent.
Trading activity also weakened, with transaction volume declining by 39 per cent and trading value falling by 38 per cent compared with the previous week.
Sectoral performance was mixed. The Banking Index dropped by 3.1 per cent, while Insurance declined marginally by 0.1 per cent. Oil and Gas gained 3.1 per cent, Consumer Goods advanced by 0.1 per cent, and Industrial Goods remained unchanged.
The losses occurred despite September’s headline inflation reportedly declining for the fourth consecutive month, indicating that easing inflation has yet to translate into sustained investor confidence.
Analysts at Cordros Capital expect sentiment to improve as investors seek undervalued stocks ahead of third-quarter earnings announcements and upcoming dividend qualification dates.
InvestData Consulting also identified movements in global oil prices as a factor that could influence inflation expectations, operating costs and corporate profitability.
Market observers will be watching upcoming earnings releases and investor demand for signs of a recovery following three weeks of declining share prices.
