The Nigerian Exchange Limited (NGX) extended its decline on Thursday, October 8, 2026, as selling pressure in major stocks dragged the All-Share Index lower by 0.82 percent.
The benchmark index closed at 248,042.50 points, while equity market capitalisation settled at N161.052 trillion at the end of the trading session.
Trading activity remained substantial despite the decline with investors exchanging 492.23 million shares valued at N38.02 billion across 38,711 deals.
The market’s weakness was reflected in sharp losses recorded by Eterna Plc and Aradel Holdings Plc with both stocks declining by the maximum 10 percent during the session.
Eterna fell from N46.00 to N41.40, shedding N4.60 per share, while Aradel dropped N153 from N1,530 to N1,377 per share.
Cutix Plc followed with a 9.02 percent decline from N2.44 to N2.22.
Critical Minerals Financing Corporation Plc (CMFC), which Investors King has tracked through its recent rally, also came under renewed selling pressure.
CMFC declined 8.98 percent from N4.01 to N3.65, extending the reversal that followed its strong run in late September and early October.
NPF Microfinance Bank completed the five biggest decliners supplied for the session after losing 8.70 percent to close at N4.20, down from N4.60.
However, some stocks recorded strong gains despite the broader market decline.
E-Tranzact International Plc led the equities gainers, appreciating by the maximum 10 percent from N11 to N12.10.
Livestock Feeds Plc followed with a 9.09 percent increase from N11 to N12, while Guinea Insurance Plc gained 8.97 percent from N0.78 to N0.85.
Learn Africa Plc advanced 8.93 percent from N8.40 to N9.15.
The data also showed Lotus Halal Equity ETF rising 8.79 percent from N125 to N135.99. However, the security is an exchange-traded fund rather than an ordinary equity and is therefore separate from the stock gainers.
Zenith Bank Leads Trading
Zenith Bank Plc emerged as the most actively traded stock among the securities supplied for the session with investors exchanging 47.80 million shares worth N6.50 billion.
Wema Bank followed with 43.64 million shares valued at N1.35 billion, while Access Holdings recorded 42.94 million shares worth N1.27 billion.
FCMB Group accounted for 32.67 million shares valued at N357.46 million, while Multitrex Industries recorded 27.20 million shares worth N11.42 million.
Together, the five stocks accounted for approximately 194.25 million shares, representing about 39.5 percent of the 492.23 million shares traded across the market during the session.
Zenith Bank was particularly significant by transaction value with its N6.50 billion turnover alone accounting for approximately 17.1 percent of the entire N38.02 billion equity-market turnover recorded on Thursday.
ETFs Record Gains
Activity outside ordinary equities also showed strong price movements.
NewGold ETF increased from N84,500.04 to N89,888, representing a gain of N5,387.96.
Meristem Growth ETF advanced from N130 to N137.90, while Vetiva Industrial ETF rose from N117.80 to N122.90.
Meristem Value ETF edged higher from N135 to N135.10, while Vetiva S&P Nigerian Sovereign Bond ETF remained unchanged at N213.
The bond securities supplied for the session, FGS202915, LAB2033S1, LFZ2041S1, NMR2027S3 and UBN2029S3, were unchanged at N100.
At the close of trading, the bond market was valued at N60.253 trillion, while ETF market capitalisation stood at N50.313 billion.
Thursday’s performance ultimately reflected continued pressure on Nigerian equities with the 0.82 percent decline in the NGX All-Share Index accompanied by steep losses in Eterna, Aradel, Cutix and CMFC, even as E-Tranzact, Livestock Feeds and Guinea Insurance attracted buying interest.
