The Nigerian Exchange Limited (NGX) lost ₦256 billion in market capitalisation in its latest full trading session, extending a five-day decline, while Fidelity Bank Plc secured another extension to publish its audited half-year financial statements after missing the September 30 deadline.
Key Highlights
- NGX market capitalisation fell by ₦256 billion to ₦162.495 trillion.
- The All-Share Index declined 0.16% to 250,273.50 points.
- The market has recorded losses in five consecutive sessions since September 29.
- Banking stocks led the decline, with the NGX Banking Index falling 1.25%.
- Trading volume dropped about 34% to approximately 579 million shares.
- Fidelity Bank received another extension to publish its audited half-year results.
- Fidelity said the delay was due to outstanding regulatory approvals.
NGX Market Capitalisation Falls to ₦162.495tn
Trading on Tuesday, October 6, saw the NGX market capitalisation decline 0.16%, falling from ₦162.751 trillion to ₦162.495 trillion.
The All-Share Index also dropped by 394.36 points, representing a 0.16% decline, to close at 250,273.50 points from 250,667.86 points.
The market’s year-to-date return eased to 60.83%, while the losing streak extended to five sessions, dating back to September 29.
Market breadth was negative, with 34 stocks recording losses compared with 26 gainers.
Critical Minerals Financing Corporation Leads Decliners
Critical Minerals Financing Corporation led the decliners, losing 9.88% to close at ₦3.65 per share.
ABC Transport followed with a 9.70% decline to ₦6.05, while Computer Warehouse Group fell 7.23% to ₦19.25.
Zichis Agro-Allied dropped 6.58% to ₦17.05, while Neimeth declined 6.17% to ₦7.60.
On the gainers’ side, Tripple Gee rose 9.77% to ₦2.81, Livestock Feeds gained 9.74% to ₦10.70, while NPF Microfinance Bank advanced 9.52% to ₦4.60.
Trading Activity Falls as Banking Stocks Drag NGX
Trading activity also weakened during the session, with volume falling by about 34% to approximately 579 million shares.
The transactions were valued at about ₦36.07 billion across roughly 41,000 deals.
The banking sector was the biggest drag on the market, with the NGX Banking Index falling 1.25%.
First HoldCo declined 5.09% to ₦142.50, Ecobank Transnational fell 2.72% to ₦68, while Wema Bank dropped 1.43% to ₦31.50.
Despite the weakness in banking stocks, insurance stocks and some smaller companies recorded gains, suggesting that the session was more concentrated around profit-taking in selected sectors rather than a broad-based market sell-off.
Read also:
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Fidelity Bank Gets Further Extension for Audited Results
Meanwhile, Fidelity Bank has received another extension from the NGX to publish its audited financial statements for the half-year ended June 30, 2026.
The bank disclosed the development to the market on October 5 in a filing signed by its Company Secretary, Ezinwa Unuigboje.
Fidelity Bank had previously been granted an extension until September 30 after making a request disclosed on August 21. However, the bank did not publish the audited results by the revised deadline.
The lender said the audited accounts would be released once outstanding regulatory approvals are obtained but did not provide a new publication deadline.
Fidelity Bank Maintains Closed Period
The bank also said its closed period for insiders and connected persons would remain in force until 24 hours after the publication of both the audited half-year financial statements and the unaudited financial statements for the period ended September 30, 2026.
The latest development represents the second extension granted to Fidelity Bank for the publication of its June 2026 audited results.
Investors currently have access to the bank’s first-quarter financial performance, which showed gross earnings of ₦434.95 billion, representing a 37.9% year-on-year increase.
Profit before tax stood at ₦92.48 billion during the period.
The audited half-year results are expected to provide investors with a clearer picture of the bank’s six-month earnings, asset quality and capital position.
Fidelity Bank Shares Remain Near 52-Week High
Despite the delay in publishing the audited results, Fidelity Bank’s share price has so far remained relatively strong.
The stock traded around ₦24.20 on October 7, just below its 52-week high of ₦24.25.
The share price movement suggests that investors have not yet treated the delayed filing as a major negative market event, although attention is likely to remain focused on the bank’s eventual results and the reasons for the outstanding regulatory approvals.
The NGX’s continued five-day decline, meanwhile, leaves investors watching closely for signs of renewed buying interest as the market enters the next trading sessions.
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