The Nigerian equities market concluded the week ended September 18, 2026, on a positive note, with the NGX All-Share Index advancing 2.78% to 249,804.56 points. This significant rebound was driven by strong buying interest across various stocks, pushing the market capitalization to N162.157 trillion. The year-to-date return improved to 60.53%, reflecting a substantial increase in investor confidence.
The market started the week on a positive note, gaining 0.10% on Monday to 243,299.24 points. NGXGROUP led the gainers, while JOHNHOLT recorded the biggest decline. Trading volume fell 22.41% to 428.97 million shares worth N20.52 billion in 54,592 deals. This relatively low trading volume did not deter the market's upward momentum, which continued throughout the week.
The market extended its gains on Tuesday, with the ASI rising another 0.41% to 244,304.51 points, extending its winning streak to four sessions. NGXGROUP and ARADEL led the gainers, while ETI posted the largest decline. Trading activity improved, with 520.65 million shares valued at N37.14 billion exchanged in 71,977 deals. Wednesday saw the ASI add 0.20% to close at 244,791.79 points, with NB, NGXGROUP, and TRANSCORP among the major gainers.
Thursday witnessed a significant gain, with the ASI rising 0.62% to 246,315.38 points, marking six consecutive sessions of gains. BETAGLAS and BUACEMENT gained 10.00% each, while TRANSPOWER recorded the largest decline. Market breadth remained positive with 34 gainers and 23 decliners. The last trading day of the week closed stronger, with the ASI jumping 1.42% to 249,804.56 points, driven by MTNN, WEMABANK, and FIRSTHOLDCO.
Overall, investors traded 3.249 billion shares worth N237.986 billion in 287,919 deals during the week, compared with 3.647 billion shares valued at N130.151 billion in 244,777 deals the previous week. The Financial Services Industry dominated activity, accounting for 2.581 billion shares worth N97.212 billion in 138,900 deals, representing 79.43% of total equity turnover volume and 40.85% of value.
Market breadth improved significantly, with 52 stocks gaining during the week, compared with nine in the previous week. Decliners fell to 32 from 80, while 63 stocks remained unchanged, against 58 previously. All major indices closed higher, except the NGX Growth Index, which slipped 0.14%. The NGX All-Share Index has gained 2.78% week-to-date, with the Banking Index increasing by 4.43% and the Oil and Gas Index recording a positive return of 3.71%.
Several stocks recorded significant gains, including UPDC Real Estate Investment Trust, which rose from N13.75 to N18.55, a gain of N4.80 or 34.91%. Sovereign Trust Insurance advanced from N1.68 to N2.20, gaining N0.52 or 30.95%. Mutual Benefits Assurance increased from N2.95 to N3.60, up N0.65 or 22.03%. Conversely, Transcorp Power fell from N219.60 to N178.00, losing N41.60 or 18.94%.
Key points
- The NGX All-Share Index gained 2.78% to reach 249,804.56 points.
- Market capitalization rose 2.90% to N162.157 trillion.
- The Financial Services Industry dominated trading activity with 2.581 billion shares worth N97.212 billion.
