The Nigerian Exchange Limited (NGX) experienced a downturn on September 30, 2026, with the All-Share Index (ASI) declining by 701.53 points to close at 251,211.67 points. This drop marked a significant reduction from the previous day's close of 251,913.20 points.
Financial stocks were the primary culprits behind the market's decline, contributing to a total market capitalization loss of N425.73 billion, bringing it down from N163.53 trillion to N163.10 trillion. Despite the overall negative performance, trading activity remained robust, with a total of 1.03 billion shares exchanged across 44,398 deals.
The day's trading was led by VFD Group Plc, which recorded the highest volume with 367.3 million shares traded. Other notable performers included UAC of Nigeria Plc and Abbey Bank Plc, contributing significantly to the trading volume.
Sector performance was mixed, with the NGX Industrial Goods Index gaining ground, while major financial sectors, including the NGX Banking and Insurance Indices, faced declines. This trend reflected broader market pressures, as 28 stocks fell in price compared to 25 that gained.
This decline in market capitalization marks the second consecutive drop within a week, following a previous loss of N468.63 billion. Investors will be watching closely to see if this trend continues or if the market can rebound in the coming days.