Nigerian equities extend rally as ASI crosses 246,000 points, gain N1.22 trillion

The Nigerian equities market sustained its bullish momentum on Tuesday, September 1, 2026, with the benchmark NGX All-Share Index (ASI) rising above the 246,000-point mark once again since August 11 when it closed at 246,723.57 points, extending gains from the previous session.

The ASI advanced 0.77% to close at 246,082.63 points, up from 244,199.39 points in the previous session, gaining 1,883.24 points during the trading day.

Market capitalisation rose to N158.96 trillion from N157.74 trillion, adding approximately N1.22 trillion to investor wealth, while the market’s year-to-date return strengthened to 58.14%.

Market summary:

• All-Share Index (ASI): 246,082.63 points, up 0.77%.
• Market capitalisation: N158.96 trillion, up 0.77%.
• Market value gained: Approximately N1.22 trillion.
• Year-to-date (YTD) market return: +58.14%.
• Trading volume: 651.32 million shares, up 7.44%.
• Market turnover (value traded): N40.77 billion, up 5.35%.
• Total deals: 43,760, down 18.16%.
• Market breadth: 40 stocks gained during the session, while 19 declined.

Top 5 Gainers:

• FTN Cocoa Processors: up 10.00% to N8.25, from N7.50.
• McNichols: up 10.00% to N4.95, from N4.50.
• SUNU Assurances: up 9.94% to N3.43, from N3.12.
• Sovereign Trust Insurance: up 9.57% to N2.06, from N1.88.
• Caverton Offshore Support Group: up 9.52% to N4.60, from N4.20.

Top 5 Losers:

• Tripple Gee & Company: down 9.72% to N2.60, from N2.88.
• ABC Transport: down 9.52% to N4.75, from N5.25.
• NAHCO: down 9.22% to N136.35, from N150.20.
• RT Briscoe: down 9.21% to N10.35, from N11.40.
• UPDC REIT: down 4.93% to N13.50, from N14.20.

Driving the numbers:

The session’s gains were led by a sharp rally in Aradel Holdings and Nestlé Nigeria, whose advances outpaced even the banking heavyweights that also closed broadly positive.

• Aradel Holdings surged 8.83% to close at N1,539.90 from N1,415.00, standing out as the most significant large-cap mover of the session and driving much of the strength in the Oil & Gas Index.
• Nestlé Nigeria advanced 5.83% to N2,995.00 from N2,830.00, its strongest single-session gain in recent weeks.
• HBM Nigeria added 4.5%, while Oando gained 2.94% to N35.00.
• Banking stocks also had a broadly positive session, with Access Holdings up 1.25% to N32.50.
• First HoldCo advanced 1.17% to N146.70.
• UBA gained 1.06% to N47.85.
• Zenith Bank rose 0.71% to N128.30.
• GTCO appreciated 0.45% to N133.60.
• Stanbic IBTC edged up 0.26% to N156.50.
• Nigerian Breweries gained marginally, up 0.13% to N75.10.

On the downside, Unilever Nigeria stood out as the session’s most notable large-cap decliner, falling 3.51% to N110.00, a particularly significant move given its size within the consumer goods space. Transcorp declined 1.63% to N36.15, and FCMB eased 0.43% to N11.65.

Sector performance:

Sectoral performance was broadly positive across the board, with the Oil & Gas Index emerging as the standout performer.

• The NGX Oil & Gas Index surged 3.87% to close at 5,458.84 points, from 5,255.56 points, the session’s strongest sectoral move.
• The Insurance Index advanced 3.34% to 1,125.41 points, followed by the Commodity Index, up 2.58% to 1,804.59 points.
• The Banking Index rose 0.87% to 2,646.98 points, matched by the Consumer Goods Index, also up 0.87% to 4,117.44 points.
• The Industrial Index gained 0.71% to 10,385.06 points, while the CG Index advanced to 7,242.68 points from 7,182.52 points.

Market breadth remained strongly positive, with 40 gainers comfortably outpacing 19 decliners, reflecting broad-based buying interest across the market for a second consecutive session.

Volume and value contribution:

Trading activity was mixed but generally supportive of the rally.

• Total volume traded rose 7.44% to 651.32 million shares, while turnover value increased 5.35% to N40.77 billion.
• However, the deal count declined 18.16% to 43,760 transactions.

Access Holdings was the most traded stock by volume at 129.89 million units, while MTN Nigeria led by value at N4.69 billion.

What you should know:

Tuesday’s rally extends the market’s positive momentum into September, with the ASI now up 0.77% month-to-date, building on August’s strong finish and continued optimism following the FTSE Russell reclassification confirmation.

• Aradel Holdings’ and Nestlé Nigeria’s exceptional gains stood out as the market performance driver amid a generally bullish trend.
• Unilever Nigeria’s 3.51% decline seems to continue the stock’s weak run through August, when it posted one of the sharpest monthly declines among major consumer goods names.
• With Oil & Gas and Insurance leading sector gains for a second straight session, investor rotation into previously underperforming segments appears to be gaining traction ahead of the market’s September 21 return to Frontier Market status.

Looking ahead, the market is expected to sustain its positive momentum as investor sentiment continues to improve, buoyed by the FTSE Russell reclassification confirmation.