The Nigerian Exchange closed lower on Thursday, 22 October 2026, as profit-taking in selected stocks extended the previous session’s decline.
The All-Share Index slipped 0.07% to 244,956.94 points, down from 245,116.49 on Wednesday. Market capitalisation fell by about ₦103.60 billion, while the year-to-date return eased to 57.41%. Despite the weaker tone, trading activity increased, with volume rising 1.87% to 360.75 million shares valued at ₦20.32 billion across 31,401 deals.
Losers Outpace Gainers
Market breadth remained negative, with 22 stocks declining against 16 advancers. NGX Group fell 4.69%, Oando dropped 4.17% and Wema Bank declined 3.33%. Zenith Bank, Guaranty Trust Holding Company and United Bank for Africa also closed in the red.
Cornerstone Insurance and International Breweries traded at ₦4.60 and ₦9.05 respectively, both below their 52-week lows.
On the upside, Access Holdings rose 9.85% to ₦7.25, PZ Cussons Nigeria gained 8.58% to ₦68.95, Tantalizers advanced 5.85% to ₦3.98, and International Energy Insurance increased 5.42% to ₦2.14.
Among the sharpest decliners, Thomas Wyatt Nigeria fell 10% to ₦2.52, Austin Laz & Company dropped 8.81% to ₦2.90, Nascon Allied Industries lost 6.85% to ₦0.68, UPDC declined 6.49% to ₦3.60, and Cornerstone Insurance fell 6.12% to ₦4.60.
Dangote Foundation Launches Student Share Grant
In a separate development, the Aliko Dangote Foundation unveiled a Student Share Grant Initiative linked to the ongoing initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE.
Under the scheme, qualifying Nigerian students will receive 10 free shares in the company after they subscribe to the IPO. The programme is open to students aged 18 and above who are enrolled in public or private tertiary institutions across Nigeria. To qualify, a student must complete a verification process and subscribe to at least 10 shares; the foundation will then fund an additional 10 shares in the student’s name at no cost.
Market Takeaway
Thursday’s modest decline kept the broader market under pressure, with banking and energy names among those weighing on the index. Higher volume alongside falling prices pointed to active selling rather than a quiet drift lower. Investors will be watching whether profit-taking eases in the coming sessions or whether further pressure emerges in large-cap and mid-cap stocks.
The Dangote student share grant, meanwhile, adds a retail and youth-participation angle to the refinery IPO, potentially broadening ownership among a new generation of Nigerian investors.
—
**Hashtags**:
#NGX #StockMarket #NigerianStocks #Dangote #IPO #StudentShares #ProfitTaking #ASI #NigeriaEconomy
