Nigerian Exchange Advances, Banking Sector Leads Gains

A chart showing the performance of the Nigerian Exchange All-Share Index.

AFRICAN STOCKS AND FINANCESeptember 22, 2026 at 7:00 PM UTC

TLDR

Nigerian Exchange All-Share Index gained 0.18% on Tuesday.
Market capitalization rose by ₦297.21 billion.
Banking sector index advanced 2.50%, reaching a new 52-week high.

The Nigerian Exchange All-Share Index gained 457.86 points, or 0.18%, to close at 250,614.66 on Tuesday, September 22, 2026. Market capitalization rose by ₦297.21 billion, reaching ₦162.68 trillion. Trading activity saw 837.22 million shares valued at ₦48.53 billion exchanged in 52,054 deals.

Market breadth was positive, with 39 stocks advancing against 29 declines, while 78 stocks remained unchanged. SOVRENINS led gainers, rising 9.95% to ₦2.21. MULTIVERSE paced losers, falling 9.86% to ₦19.20. Fidelity Bank was the most active by volume, trading 165.43 million shares. Zenith Bank led by value.

The banking sector index advanced 2.50%, closing at 2,725.39 basis points. This performance pushed the index past its resistance level, creating a new 52-week high. Top gainers in the sector included Stanbic IBTC Holdings, United Bank for Africa, Fidelity Bank, FBN Holdings, Zenith Bank, Access Holdings, Wema Bank, and Guaranty Trust Holding Company. Ecobank Transnational was a top loser.

Other sectors also recorded gains. The consumer goods index rose 1.04% to 7,607.89 basis points, establishing a new 52-week high. NEIMETH and UCAP were among its top gainers. The industrial index gained 1.20% to 10,479.35 basis points, with Dangote Cement among its advancers. The oil and gas index saw a fractional gain of 0.03%, closing at 6,010.75.

Conversely, the insurance sector index declined 1.94% to 1,081.54 basis points, suggesting profit-taking. SOVRENINS, Linkage Assurance, and NEM Insurance were top gainers within the sector. Mutual Benefits Assurance, Regal Insurance, and Mansard Insurance were among the top losers.

Key Takeaways

The Nigerian Exchange market continues its upward trend, establishing new all-time highs and demonstrating resilience within its critical zone. Strong momentum, volume, and liquidity are attracting investment opportunities across various sectors. The banking sector emerged as a significant driver, surpassing its resistance level and reaching a new 52-week high, a performance analysts attribute to investors positioning ahead of upcoming third-quarter results. Similarly, the consumer goods index sustained its markup phase, also achieving a new 52-week high with improved volume and liquidity. The industrial sector is in a recovery phase, showing strong volume and momentum, prompting investors to consider fundamentally strong companies within this segment. While the oil and gas sector saw fractional gains with strong volume, its liquidity remained low, indicating a need for improved recovery conditions. The insurance sector experienced a pullback, suggesting profit-taking, yet it maintained resilience above its moving average, with its MACD sustaining bullish momentum despite declining liquidity.