ABC Transport led Nigerian stock market gainers in the week ended October 23, 2026, even as the overall market recorded its fourth consecutive weekly decline.
The Nigerian Exchange All-Share Index fell by 317.46 points, or 0.13 percent, to close at 247,222.27 points, down from 247,539.73 points in the previous week.
The decline reduced the market’s capitalisation by about N210.89 billion to N160.52 trillion. However, a strong recovery on Friday added N1.47 trillion to market value, lifting capitalisation from N159.05 trillion to N160.52 trillion.
Despite the recent losses, the market has gained 58.87 percent since the beginning of 2026. ABC Transport recorded the biggest gain during the week, with its share price rising by 20.66 percent to N7.30 from N6.05.
AVA Capital followed with a 17.74 percent increase to N7.30, while Caverton Offshore Support Group gained 17.07 percent to N4.80.
Fidelity Bank also recorded a strong performance, rising by 14.01 percent to N24 per share
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UPDC REIT leads percentage losers
UPDC Real Estate Investment Trust recorded the biggest percentage decline, losing 17.26 percent as its share price fell to N17.50 from N21.15.
Omatek Ventures dropped by 12.50 percent to N1.40, while University Press declined by 12.12 percent to N4.35.
Regency Alliance Insurance lost 11.25 percent to close at 71 kobo, while Nigerian Exchange Group fell by 10.29 percent to N152.50.
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Other major losers included Livestock Feeds, which dropped by 10.26 percent to N17.05, and Vitafoam Nigeria, which declined by 10 percent to N174.60.
CWG lost 9.98 percent to close at N18.05, International Breweries fell by 9.50 percent to N9.05, while Tripple Gee and Company declined by 8.74 percent to N2.82.
In terms of the actual amount lost per share, Aradel Holdings recorded the largest decline. Its share price dropped by N94.90, or 6.33 percent, to N1,405 from N1,499.90.
Vitafoam Nigeria lost N19.40 per share, while Nigerian Exchange Group shed N17.50. Custodian Investment, Ecobank Transnational, UAC of Nigeria and GTCO also recorded losses.
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More stocks decline than rise
The number of stocks that fell during the week increased, indicating that selling pressure spread across more companies.
A total of 55 stocks declined, compared with 30 in the previous week. Only 20 stocks gained, down from 50 a week earlier, while 71 stocks closed unchanged.
In simple terms, more shares lost value than gained value, even though some companies recorded significant price increases.
Trading activity, however, increased. Investors exchanged 2.024 billion shares valued at N110.773 billion in 173,113 deals, compared with 1.659 billion shares worth N98.088 billion in 184,632 deals in the previous week.
This represented a 22 percent increase in the number of shares traded and a 13 percent rise in transaction value.
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The financial services sector accounted for the largest share of activity, with 1.111 billion shares valued at N53.908 billion traded in 81,787 deals. This represented 54.89 percent of total trading volume and 48.66 percent of transaction value.
Consumer goods stocks followed with 394.039 million shares worth N9.811 billion, while agriculture stocks recorded 147.170 million shares valued at N2.821 billion.
Multi-Trex Integrated Foods, Zenith Bank and Livestock Feeds were the three most actively traded stocks by volume. Together, they accounted for 521.565 million shares worth N19.093 billion.
Industrial goods stocks record gains
The industrial goods sector was the strongest performer during the week, with its index rising by 1.95 percent to 10,646.68 points. Its gain since the beginning of the year stood at 87.56 percent.
The insurance index fell by 2.79 percent to 1,049.43 points, while the oil and gas index declined by 2.55 percent to 6,035.77 points.
Despite the weekly decline, oil and gas stocks remained the best-performing sector year to date, with a gain of 126.04 percent.
The commodities index dropped by 1.78 percent, while the banking index lost 0.67 percent to close at 2,515.47 points. Consumer goods stocks also weakened, with their index falling by 0.55 percent to 4,014.81 points.
Friday recovery limits weekly losses
The market experienced mixed movements during the week. The All-Share Index fell to 245,278.34 points on Monday, recovered by 0.26 percent on Tuesday, and declined on Wednesday and Thursday to reach a weekly low of 244,956.94 points.
A 0.92 percent increase on Friday added 2,265.33 points to the index, helping market capitalisation return above N160 trillion.
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The rebound followed a N103.6 billion market loss on Thursday. However, the strong finish was not enough to prevent a fourth consecutive weekly decline.
Although the weekly losses have narrowed in recent weeks, the fact that 55 stocks declined against only 20 gainers suggests that investors remained cautious.
The market’s year-to-date gain of 58.87 percent remains substantial, but the recent trend shows that some investors are selling shares after the strong gains recorded earlier in the year.
