By Boluwatife Oshadiya | September 1st, 2026
Key Points
- NGX All-Share Index gained 1.20% to close at 244,199.39 points
- Market capitalisation increased by ₦1.91 trillion to ₦157.74 trillion as 43 stocks gained against 16 decliners
- Sterling Financial Holdings and Coronation Insurance listed additional shares from private placements while Sunu Assurance and Sovereign Trust Insurance listed rights-issue shares
Main Story
The Nigerian Exchange (NGX) All-Share Index rose 1.20% on Monday to 244,199.39 points, while market capitalisation increased by ₦1.91 trillion to ₦157.74 trillion as investors returned to major banking, consumer goods and oil stocks.
The index gained 2,900.92 points from Friday’s 241,298.47 points, while the market’s year-to-date return strengthened to 56.93%. Trading activity also increased, with 606.19 million shares valued at ₦38.70 billion exchanged in 53,471 deals.
The market breadth was positive, with 43 stocks advancing against 16 decliners. Banking stocks led sectoral gains, rising 3.11%, followed by consumer goods at 1.72%, oil and gas at 1.35% and insurance at 0.88%. Industrial goods was the only major sector to decline, falling 0.65%.
The session also featured additional share listings from four financial institutions. Sunu Assurance listed 2.075 billion ordinary shares from its rights issue, while Sovereign Trust Insurance listed 2.511 billion shares from its rights issue.
Sterling Financial Holdings listed 2.573 billion ordinary shares from a private placement at ₦4.00 per share, while Coronation Insurance listed 4.534 billion ordinary shares from a private placement at ₦2.16 per share.
Accesscorp accounted for 20.90% of total trading volume, followed by GTCO, UBA, NB and Veritaskap. MTNN accounted for 14.80% of total traded value.
What’s Being Said
Proshare Research said the session reflected “a broader recovery in investor sentiment and reduced selling pressure across the market,” following the improvement in market breadth.
Market analysts are also watching whether the recovery can extend into September after the NGX experienced a three-week sell-off during August. Tribune reported that the August rally was not sufficient to prevent the index from recording a 0.44% monthly decline.
What’s Next
- Investors will monitor whether the NGX can sustain the renewed buying interest during the opening sessions of September.
- Market participants will also assess the effect of the newly listed shares on trading liquidity, valuations and sector performance.
Bottom Line
The Bottom Line: Monday’s rally restored momentum to the NGX at the close of August, but the broader monthly performance shows that investor confidence remains uneven. Sustained gains will depend on whether the renewed demand for large-cap stocks continues into September.
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