NGX market cap hits record N164 trillion as trading volume surges

Trading activity on the Nigerian Exchange Limited (NGX) experienced a surge in liquidity on Monday, September 28, 2026, as total equity trading volume crossed the one-billion mark, reaching 1,024,773,814 shares exchanged across 61,661 deals.

Total market capitalization of listed equities expanded to a record N163.999 trillion (approx. N164.00 trillion), from N163.655 trillion recorded in the preceding trading session on September 25.

Similarly, the benchmark NGX All-Share Index (ASI) appreciated by 521.70 points (+0.21%) to close at 252,635.11 points, up from 252,113.41 points.

Market summary

• All-Share Index (ASI): Appreciated to 252,635.11 points, up 0.21% from 252,113.41 points.
• Market capitalisation: Rose to N164.00 trillion, up 0.21% from N163.655 trillion
• Market value gained: N345 billion
• Trading volume: 1.024 billion shares, up 44.47% from 708.81 million shares
• Total deals: 61,661 deals, up 45.31% from 42,434 deals

Top 5 gainers

• University Press Plc (UPL): Up 9.89% to N5.00 from N4.55
• Critical Minerals Financing Corp Plc: Up 9.82% to N3.58 from N3.26
• ABC Transport Plc: Up 9.80% to N5.60 from N5.10
• Eterna Plc: Up 9.62% to N42.75 from N39
• Sovereign Trust Insurance Plc: Up 9.17% to N2.62 from N2.40

Top 5 losers

• Fortis Global Insurance Plc: Down 9.50% to N1.81 from N2
• Trans-Nationwide Express Plc: Down 8.47% to N2.70 from N2.95
• R. T. Briscoe (Nigeria) Plc: Down 6.07% to N10.05 from N10.70
• Coronation Insurance Plc: Down 4.74% to N2.21 from N2.32
• Omatek Ventures Plc: Down 4.73% to N1.41 from N1.48

Driving the numbers

Market turnover was dominated by Fidelity Bank Plc, which witnessed large trading activity of 528,004,480 shares valued across 1,252 deals.

• Other notable volume drivers included Access Holdings Plc with 56,989,632 shares, Chams Holding Company Plc with 41,438,358 shares, Zenith Bank Plc with 25,242,600 shares, Guaranty Trust Holding Company Plc (GTCO) with 23,815,927 shares, Critical Minerals Financing Corp Plc with 22,995,110 shares, FCMB Group Plc with 22,256,347 shares, and United Bank for Africa Plc (UBA) with 20,703,073 shares.
• Trading distribution across exchange boards revealed that the Main Board accounted for the lion’s share of activity, recording 890,935,193 shares traded in 37,090 deals.
• The Premium Board contributed 116,158,667 shares across 20,418 deals, while the Growth Board logged 8,719,843 shares in 1,557 deals.

Real Estate Investment Trusts (REITs) & Closed-End Funds recorded 2,586,950 shares across 790 deals, and the Non-Interest Finance Board registered 6,373,161 shares in 1,806 deals.

Sectoral performance

Sectoral indicators reflected a predominantly bullish tone, led by gains in financial institutions.

• NGX Banking Index (+1.14%) advanced to 2,752.82 points from 2,721.83 points. The index was bolstered by broad-based buying in tier-1 and tier-2 banks, including Fidelity Bank Plc (+6.48%), First Holdco Plc (+2.11%), United Bank for Africa Plc (+1.77%), Ecobank Transnational Inc. (+1.45%), Access Holdings Plc (+1.11%), and Zenith Bank Plc (+0.37%).
• NGX Insurance Index (+0.04%) rose marginally to 1,094.10 points. Upside momentum from Sovereign Trust Insurance Plc (+9.17%), AXA Mansard Insurance Plc (+3.08%), and Sunu Assurances Nigeria Plc (+2.67%) successfully offset declines in Fortis Global Insurance Plc (-9.50%) and Coronation Insurance Plc (-4.74%).
• NGX Oil & Gas Index (+0.01%) closed slightly higher at 6,244.45 points, supported by price appreciations in Eterna Plc (+9.62%) and Japaul Gold & Ventures Plc (+4.15%), which counterbalanced profit-taking in Oando Plc (-1.83%).
• NGX Growth Index (+0.44%) gained to reach 27,031.30 points, propelled by strong interest in Zichis Agro Allied Industries Plc (+8.98%).
• NGX Consumer Goods Index (-0.10%) edged down to 4,090.41 points, pulled back by losses in Dangote Sugar Refinery Plc (-1.41%) and Unilever Nigeria Plc (-0.09%), despite price appreciations in UAC of Nigeria Plc (+3.19%) and Honeywell Flour Mill Plc (+1.48%).

NGX Industrial Index (0.00%) closed practically flat at 10,467.53 points, as major cement manufacturers Dangote Cement Plc and BUA Cement Plc closed unchanged.

What you should know

Monday’s performance is an improvement from Friday’s marginal decline.

Monday’s trading remained broad-based, with investor sentiment closing on a positive note, as market breadth reflected 33 gainers against 24 losers.