Nigerian Exchange Market Cap Hits Record N163 Trillion

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AFRICAN STOCKS AND FINANCESeptember 23, 2026 at 6:33 PM UTC

TLDR

Nigerian Exchange market capitalization reached a record 163.06 trillion naira.
The All-Share Index rose 0.23% to 251,191.02 points.
Trading volume totaled 1.59 billion shares across 49,736 deals.

Nigerian Exchange Limited market capitalization reached 163.06 trillion naira on Wednesday, September 23, 2026. This marked a 0.23% increase from 162.68 trillion naira recorded on Tuesday. The NGX All-Share Index appreciated 0.23%, adding 576.36 points to close at 251,191.02 points.

Equity trading volume reached 1.59 billion shares across 49,736 deals. Buying pressure in banking and tier-one equities drove activity. The Main Board accounted for 1.46 billion shares in 31,617 deals. The Premium Board contributed 113.01 million shares across 15,135 deals.

Fortis Global Insurance Plc led volume with 860.31 million shares traded. Fidelity Bank Plc followed with 170.72 million shares. Guaranty Trust Holding Company Plc (GTCO) saw 86.19 million shares traded across 3,220 deals. Other active equities included Dangote Sugar Refinery Plc, Chams Holding Company Plc, and Zenith Bank Plc.

Sector performance was bullish, driven by buying interest in financial, insurance, and consumer stocks. The NGX Industrial Index contracted to 10,463.54 points. This reflected price pullbacks in Dangote Cement Plc and HBM Nigeria Plc. Market breadth was positive, with 43 equities gaining against 20 decliners.

ETERNA led gainers, advancing 10.00% to 38.50 naira. Caverton Offshore Support Group Plc led decliners, falling 9.09% to 4.00 naira. This market capitalization record comes one week after the NGX market cap hit 162 trillion naira. The previous high was 161.8 trillion naira on May 13.

Key Takeaways

The Nigerian Exchange's record market capitalization reflects broader shifts in the Nigerian capital market. The NASD, a platform for unlisted securities, plans a 12 billion naira rights issue to fund technology and market expansion. This indicates a wider push for growth and modernization across different segments of the Nigerian financial landscape. Concurrently, the Central Bank of Nigeria's 350 basis points rate cut reshapes the outlook for stocks, bonds, and bank earnings. Lower interest rates typically make equities more attractive compared to fixed-income instruments, potentially driving investor funds into the stock market. This monetary policy action can contribute to the buying pressure observed on the NGX, particularly in banking and tier-one equities, as investors seek higher returns in a lower-yield environment. It also impacts bank profitability, influencing their stock performance and overall market sentiment. These factors together create a dynamic environment for market growth and investor participation.