Nigeria: Nigerian Stocks Slip 0.52 Percent As Profit-Taking Halts Rally

What the report says

Nigerian equities ended the week to October 2 in the red, as investors locked in profits after several weeks of gains, according to Daba Finance as republished by AllAfrica. The NGX All-Share Index fell 0.52% to 250,808.27 points, while market capitalization slipped 0.50% to about ₦162.843 trillion. The report noted that the market traded for only four sessions because October 1 was a public holiday for Nigeria’s Independence Day.

Trading activity also eased from the previous week. Turnover dropped to 3.166 billion shares worth ₦155.023 billion across 206,662 deals, compared with 4.689 billion shares worth ₦240.824 billion a week earlier. Financial services dominated activity, and names including Fidelity Bank, VFD Group and Access Holdings accounted for a large share of volume. Most sector indices declined, led by losses in banking, premium and corporate governance, though insurance, oil and gas, growth and the main board posted modest gains.

The weekly pullback came after three straight weeks of advances and followed the Central Bank of Nigeria’s September rate cut to 23%, which has helped support equities relative to fixed income. Even with the setback, the benchmark remained up more than 61% for 2026, and some sectors such as oil and gas have delivered much stronger year-to-date gains. The report suggests investors are becoming more selective after a strong rally, with individual stocks still seeing sharp moves in both directions.