Nigeria’s equities market closed sharply lower on today the 19, October, with investors losing N1.47 trillion in a single session as sell-offs hit Dangote Cement and several banking stocks.
According to NGX trading data reported by Nairametrics, market capitalisation on the Nigerian Exchange Limited (NGX) fell by 0.91 per cent to N159.26 trillion on Monday, October 19, 2026, from N160.73 trillion at Friday’s close.
Dangote Cement, whose market value exceeds N17 trillion, shed 5.50 per cent, or N58.70 per share, to close at N1,008.00.
The decline pulled down the industrial sector, with the NGX Industrial Index dropping from 10,442.95 to 10,140.51 points, the steepest fall among the key sector gauges.
Banking stocks also came under pressure. The NGX Banking Index slipped from 2,532.47 to 2,497.01 points, with sell-offs in Ecobank Transnational Incorporated (-4.76 per cent), Wema Bank (-3.55 per cent), United Bank for Africa (-2.33 per cent), Access Holdings (-1.93 per cent) and Zenith Bank (-1.59 per cent).
Trading was active despite the decline. Investors exchanged 349,343,580 shares across 43,115 deals.
Monday’s loss is far larger than recent daily moves. On Friday, October 16, the market shed just N108.70 billion, or 0.07 per cent, as profit-taking in tier-one banks weighed on the market. Earlier in the month, the market had also recorded a five-session losing streak that ended around October 6.
The latest sell-off also follows a strong run for Dangote Cement. The stock gained 10.8 per cent between June 30 and September 30, 2026, rising from N963 to N1,066.70. That suggests some investors may be taking profits on the heavyweight stock.
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