The Nigerian equity market faced a significant downturn on Tuesday, September 29, 2026, with market capitalization dropping by N468.63 billion to settle at N163.53 trillion. This bearish trend occurred despite substantial liquidity in the market.
Trading activity saw a total of 548,646,300 equity shares exchanged over 47,203 transactions. Key market indicators were negatively impacted primarily by declines in banking, industrial goods, and consumer goods stocks.
The NGX All-Share Index (ASI) fell by 721.91 points, or 0.29%, closing at 251,913.20 points. This decline was mirrored in various sector indices, particularly the NGX Banking Index, which decreased by 0.91% due to losses in major banks.
Among the top gainers were NPF Microfinance Bank and LivingTrust Mortgage Bank, each rising by 10%. Conversely, Sovereign Trust Insurance and Unilever Nigeria led the losses, down 9.92% and 8.55%, respectively.
Overall, market breadth was negative, with 32 stocks declining against 27 gainers, reflecting a challenging trading environment compared to the previous day's surge in liquidity.