By Business Correspondent

Nigerian equities market extended its bearish performance on Tuesday, October 13, 2026, as renewed selling pressure pushed the benchmark All-Share Index down by 0.25 per cent, while market capitalisation remained below the ₦161 trillion mark.
Market data showed that the Nigerian Exchange (NGX) All-Share Index declined by 627.31 points to close at 247,736.24 points, compared with 248,363.55 points recorded at the previous Friday’s close.
The downturn left the market capitalisation of listed equities at approximately ₦160.85 trillion, reflecting a loss of about ₦407.30 billion in market value relative to the previous close.
The performance extended the weakness that characterised trading at the start of the week, raising concerns about the market’s near-term direction as investors assess valuations, corporate earnings prospects and broader economic conditions.
Trading Activity Remains Elevated
Despite the decline in the benchmark index, trading activity remained relatively strong.
Available market figures showed that investors exchanged approximately 405.36 million shares in 52,891 deals, indicating continued participation in the equities market despite the negative price movement.
The combination of increased trading activity and a falling benchmark suggests that investors remained active but that buying interest was insufficient to reverse the prevailing downward pressure.
However, elevated turnover alone does not establish whether investors are accumulating shares at lower prices or repositioning their portfolios in response to market uncertainty.

While the broader market closed lower, some equities recorded notable price advances.
UPDC Real Estate Investment Trust led the gainers, appreciating by 10.00 per cent to close at ₦26.40 per share.
Neimeth International Pharmaceuticals Plc also gained 10.00 per cent to close at ₦7.70, while Guinness Nigeria Plc advanced by 9.93 per cent to ₦423.00.
The gains provided pockets of positive performance amid the broader market weakness, suggesting that investor interest remained selective rather than uniformly negative.
The performance of individual stocks also highlights the importance of company-specific factors in determining returns, even when the overall market is under pressure.
Insurance and Oil Stocks Face Selling Pressure
On the losing side, Sunu Assurances Nigeria Plc declined by 9.85 per cent to close at ₦2.93 per share, emerging as the session’s weakest performer among the reported stocks.
Critical Minerals Financing Corporation Plc fell by 9.78 per cent to ₦3.23, while Oando Plc lost 7.55 per cent to close at ₦33.65.
The declines point to continued volatility in selected equities, although the available figures do not establish a single cause for the losses.
Investors will need to assess company disclosures, financial results and other relevant developments to determine whether the price movements reflect changes in fundamentals, profit-taking or broader market sentiment.

The latest decline places renewed attention on the factors likely to influence the direction of Nigerian equities in the coming sessions.
Investors are expected to monitor corporate earnings, dividend prospects, interest-rate expectations, inflation, exchange-rate developments and the relative attractiveness of equities compared with fixed-income investments.
The ability of major listed companies to sustain earnings growth and maintain attractive shareholder returns could also influence investor appetite.
Meanwhile, the contrasting performances of individual stocks suggest that stock selection and company fundamentals may remain important considerations in a market experiencing uneven price movements.
Although the latest decline indicates continued weakness in the benchmark index, further trading sessions will be needed to determine whether the market is entering a sustained correction or experiencing a temporary period of consolidation.
For investors, the immediate challenge is to distinguish between fundamentally driven price adjustments and short-term market volatility while maintaining appropriate risk management.
Source: Nigerian Exchange market information and published market reports for October 13, 2026.
Editorial note: Before publication, verify the closing figures against the NGX’s official daily market report. The available reports contain inconsistent references to the trading date, so the figures and session date should be confirmed before the story is printed. The reported closing figures above are attributed to the available market summary and should not be treated as independently verified official exchange data.