The Industrial Goods Index led the Nigerian Exchange (NGX) sectoral efficiency in October 2026, gaining 16.85% as banking shares recorded the steepest decline, with the Banking Index falling 10.42% in the course of the month.
The NGX All-Share Index (ASI) and NGX 30 Index additionally closed greater, gaining 1.23% and 1.46%, respectively.
However, an evaluation of NGX market knowledge by Nairametrics Research reveals that 4 of the 5 main sector indices recorded losses, leaving Industrial Goods as the one sector in optimistic territory.
What the info is saying
Between September 30 and October 30, 2026, the 5 main sector indices recorded the next performances:
- Industrial Goods Index: Gained 16.85%, from 10,440.27 to 12,199.20 factors.
- Consumer Goods Index: Declined 1.09%, from 4,058.25 to 4,014.03 factors.
- Oil and Gas Index: Fell 2.58%, from 6,246.86 to six,085.42 factors.
- Insurance Index: Lost 5.52%, from 1,087.10 to 1,027.06 factors.
- Banking Index: Recorded the most important decline of 10.42%, from 2,712.10 to 2,429.46 factors.
The 27.27 percentage-point hole between Industrial Goods and Banking highlighted the sharp distinction in sector efficiency. Meanwhile, the NGX ASI rose from 251,211.67 to 254,299.49 factors, whereas the NGX 30 superior from 9,241.53 to 9,376.41 factors.
Industrial Goods leads as Dangote Cement beneficial properties 33.12%
Dangote Cement Plc led notable industrial inventory beneficial properties, appreciating 33.12% from N1,066.70 to N1,420. CAP Plc gained 10%, Meyer Plc superior 9.72%, and Austin Laz & Company Plc rose 6.82%.
Other shares recorded modest losses, together with Cutix Plc (-2.17%), HBM Nigeria Plc (-1.41%) and BUA Cement Plc (-1.21%). Berger Paints Plc and Premier Paints Plc closed unchanged. Overall, 4 of the 9 firms gained, three declined, and two have been unchanged.
First HoldCo leads banking losses as insurance coverage and oil & gasoline shares decline
Banking shares recorded widespread declines, led by First HoldCo Plc, which fell 25.48%. Zenith Bank Plc misplaced 11.19%, GTCO declined 9.09%, United Bank for Africa Plc shed 7.59%, and Access Holdings Plc dropped 5.92%.
Other decliners included NPF Microfinance Bank Plc (-4.55%), Jaiz Bank Plc (-3.09%) and FCMB Group Plc (-2.18%). However, Fidelity Bank Plc gained 10.85%, Ecobank Transnational Incorporated superior 4.41%, and Wema Bank Plc rose 1.59%.
Insurance shares additionally recorded broad losses. Cornerstone Insurance Plc fell 18.75%, International Energy Insurance Plc declined 13.33%, Veritas Kapital Assurance Plc misplaced 9.91%, and Consolidated Hallmark Holdings Plc shed 8.71%. AIICO Insurance Plc and NEM Insurance Plc declined 6.58% and 4.18%, respectively.
Guinea Insurance Plc was the best-performing insurer, gaining 10%, adopted by Sovereign Trust Insurance Plc at 6.82% and Lasaco Assurance Plc at 1.69%. Of the 18 insurance coverage firms reviewed, 13 declined, three gained and two closed unchanged.
Oil and Gas shares additionally ended the month decrease, with not one of the seven firms reviewed recording a gain. Japaul Gold & Ventures Plc fell 12.76%, Oando Plc misplaced 10%, Aradel Holdings Plc declined 5.89%, and Eterna Plc shed 2.84%. Seplat Energy Plc, TotalEnergies Nigeria Plc and Conoil Plc closed unchanged.
Consumer Goods shares report combined efficiency
Multi-Trex Integrated Foods Plc doubled its share value from N0.36 to N0.72, whereas Honeywell Flour Mill Plc gained 25.28% and Guinness Nigeria Plc superior 9.93%. McNichols Plc and Unilever Nigeria Plc additionally rose 5.94% and three.91%, respectively.
On the dropping facet, Vitafoam Nigeria Plc declined 10%, Nigerian Enamelware Plc fell 9.95%, Champion Breweries Plc misplaced 9.09%, Nigerian Breweries Plc shed 5.26%, and Nestlé Nigeria Plc dropped 5.17%. Among the 19 firms reviewed, 9 declined, 5 gained, and 5 remained unchanged.
Top gainers and losers on the NGX
Beyond the sector indices, Multi-Trex Integrated Foods Plc was the best-performing inventory among the many firms reviewed, whereas Critical Minerals Financing Corp Plc recorded the steepest decline.
The 10 best-performing shares in October have been:
- Multi-Trex Integrated Foods Plc – 100.00%
- Livestock Feeds Plc – 64.20%
- E-Tranzact International Plc – 33.61%
- Dangote Cement Plc – 33.12%
- Ava Capital Plc – 32.74%
- Honeywell Flour Mill Plc – 25.28%
- Learn Africa Plc – 19.61%
- Fidelity Bank Plc – 10.85%
- CAP Plc – 10.00%
- Guinea Insurance Plc – 10.00%
Sterling Financial Holdings Plc was excluded as a result of its September and October costs have been affected by share reconstruction and relisting.
The 10 worst-performing shares have been:
- Critical Minerals Financing Corp Plc – 30.56% decline
- First HoldCo Plc – 25.48% decline
- Cornerstone Insurance Plc – 18.75% decline
- Zichis Agro Allied Industries Plc – 16.28% decline
- Ellah Lakes Plc – 15.66% decline
- Red Star Express Plc – 15.19% decline
- Royal Exchange Plc – 14.78% decline
- Legend Internet Plc – 13.70% decline
- International Energy Insurance Plc – 13.33% decline
- Japaul Gold & Ventures Plc – 12.76% decline
What it’s best to know
In a beforehand reported article, Nairametrics famous that the Oil and Gas Index led NGX sectoral performance in September 2026, gaining 18.86%, whereas the Banking and Industrial Goods indices rose by 3.36% and 1.25%, respectively.
The October figures present a reversal in sector efficiency, with Industrial Goods taking the lead at 16.85% whereas Banking recorded the steepest decline.
Sterling Financial Holdings Plc’s 1-for-10 share reconstruction lowered its excellent shares from 68.5 billion to six.85 billion.
The firm relisted on the NGX on October 9 at N77 and closed at N76.35 on October 30, down 0.84%. Excluding Sterling, 9 of the 14 banking shares declined, three gained, and one was unchanged.
