The Nigerian stock market wrapped up September on a positive note, as the All-Share Index (ASI) gained 1.72% to close the month and the third quarter in the green.
Tracked by the All-Share Index, the market opened September at 140,295.5 points and supported by a trading volume of 13.6 billion shares, closed at 142,710.5 points on September 30.
Despite starting the month slowly, with a 0.94% decline in the first week, the index quickly regained momentum.
The remaining weeks stayed positive, with the second week standing out as the strongest in September.
On a quarterly basis, the market delivered a strong showing.
- The ASI advanced 18.95% in Q3, its strongest quarterly performance so far this year.
For the quarter, July was the standout month, posting a 16.57% gain, not only the best of the quarter but also the highest monthly return of the year.
On a year-to-date basis, the third-quarter surge has helped lift the All-Share Index well above the gains seen in the first two quarters.
- Year-to-date, the All-Share Index now stands 38.65% higher, reflecting a robust run for Nigerian equities in 2025.
A closer look at sectoral performance in the third quarter reveals even more about where the market’s strength truly lies.
NGX Insurance leads
The NGX Insurance Index topped the third quarter, rising 57.65% quarter-to-date and recording a trading volume of 18.7 billion shares.
Although September closed in the red with a 7.21% decline, the strong gains from August (44.30%) kept the sector afloat.
Quarterly performance was driven by standout rallies in individual stocks, including Regency Alliance Insurance (+150%), Sovereign Trust Insurance (+123.88%), AIICO Insurance (+121.52%), and Veritas Kapital Assurance (+100%).
Other notable performers with gains between 50% and 100% included Universal Insurance, Guinea Insurance, Prestige Assurance, AXA Mansard, and NEM Insurance.
Stocks with under 50% gains included Cornerstone Insurance, Consolidated Hallmark, and Sunu Assurance.
Year-to-date, the NGX Insurance Index is up 65.88%.
NGX Industrial Goods
The NGX Industrial Goods sector posted a robust 39.32% gain quarter-to-date, tracked by the NGX Industrial Index, with 1.1 billion shares traded.
Most of the gains came in July, which saw the sector rise 34.28%, while September contributed a modest 1.89% increase.
Top quarterly gainers included Tripple GEE (+148.89%), BUA Cement (+67.71%), and Meyer (+66.67%).
Other stocks posting 30–50% gains were Lafarge, Beta Glass, Austin Laz, and Chemical & Allied Products.
Dangote Cement and Cutix were the under-20% performers.
Year-to-date, the NGX Industrial Index has risen 41.89%.
NGX Consumer Goods
The NGX Consumer Goods Index rose 27.89% quarter-to-date, exchanging 2.7 billion shares.
July was the sector’s strongest month in Q3 at 11.14%, with September closing at 5.65%.
Leading the rally were Guinness Nigeria (+108.98%), McNichols (+56.52%), and Cadbury Nigeria (+51.81%).
Other stocks gaining between 20% and 50% included Unilever Nigeria, Champion Breweries, BUA Foods, NASCON Allied Industries, Nestlé Nigeria, Dangote Sugar, and Nigerian Breweries.
Modest gains came from Vitafoam Nigeria (+7.84%) and Honeywell Flour Mills (+2.33%).
Year-to-date, the Consumer Goods Index is up 94.66%.
NGX Banking
The NGX Banking Index posted an 18.25% gain in Q3, with 16.3 billion shares traded.
Despite a decline in September (-0.95%), strong early gains in July (25.78%) drove the sector’s quarterly performance.
Over 20% performers were Stanbic (+28.24%), UBA (+22.12%), Zenith Bank (+21.16%), and First HoldCo (+21.15%).
Other notable contributors included FCMB (+17.30%), Ecobank (+16.50%), Access Holdings (+16.06%), GTCO (+15.57%), Wema Bank (+13.71%), and Fidelity (+5.00%).
Year-to-date, the NGX Banking Index is up 39.61%.
NGX Oil & Gas
The NGX Oil & Gas Index rose 3.51% quarter-to-date, with 536 million shares traded.
The sector rebounded in September with a 5.94% gain, offsetting a 3.95% decline in August.
Aradel was the standout gainer, up 19.53%.
Year-to-date, the Oil & Gas Index remains down 6.97%.
