By Annette Ikponmwonba | September 24, 2026
Key Points
- NGX All-Share Index rises 0.23% to 251,191.02 points in tenth straight positive session
- Market capitalisation gains ₦374.14 billion to reach ₦163.06 trillion
- ETERNA leads gainers with a 10.00% rise as 43 stocks advance against 20 decliners
Main Story
Nigerian equities extended their rally on Wednesday as the NGX All-Share Index rose 0.23% to 251,191.02 points, lifting total market capitalisation by ₦374.14 billion to ₦163.06 trillion.
The gain extended the market’s positive run to ten consecutive sessions. The index added 576.36 points from Tuesday’s close of 250,614.66, while trading volume rose sharply to about 1.59 billion shares.
Market breadth remained positive, with 43 stocks gaining against 20 decliners. ETERNA led the gainers, rising 10.00%, followed by Thomas Wyatt Nigeria at 9.88%, Critical Minerals Financing Corporation at 9.76%, Haldane McCall at 9.70% and Omatek Ventures at 9.63%.
On the activity side, the market recorded about 49,736 deals, while the value of transactions stood at approximately ₦45.82 billion. FTGINSURE accounted for the largest share of traded volume, while GTCO led the value chart.
Sector performance was broadly positive. Insurance gained 1.08%, Banking rose 0.85%, Consumer Goods advanced 0.17% and Oil & Gas increased 0.06%. Industrial Goods was the only major sector to decline, falling 0.15%.
The session followed the Central Bank of Nigeria’s recent 350-basis-point reduction in the Monetary Policy Rate to 23.00%, which Proshare identified as an operational realignment with market rates.
The Issues
The latest advance extends an already significant recovery in Nigerian equities, but the distribution of gains remains important. The positive market breadth shows participation across a wider group of stocks, while strong activity in selected mid-cap and banking names continues to support the index.
The rally is also taking place against a changing monetary-policy environment. The CBN’s recent rate reduction changes the interest-rate backdrop for equities, although the effect on asset allocation will depend on how investors reassess returns across equities, fixed income and money-market instruments.
Trading volume is another factor to watch. Wednesday’s roughly 1.59 billion shares represented a substantial increase from the previous session, indicating stronger market participation even as the benchmark index recorded a relatively modest daily gain.
What’s Being Said
NGX’s published market information confirms continued trading activity across listed equities, with individual securities recording significant price movements during Wednesday’s session. NGX’s market-data platform provides real-time and historical equity information for investors and market participants.
“The Line Holds.” TRW Stockbrokers, in its September 23 market report, described 251,218 points as a key resistance level after the index closed at 251,191.02 points.
What’s Next
- Investors will assess whether the NGX All-Share Index can sustain its tenth-session advance in the next trading session
- Market participants will continue evaluating the effect of the CBN’s 350-basis-point policy-rate reduction on equities and fixed-income positioning
- Investors will monitor whether elevated trading volume broadens participation across sectors or remains concentrated in selected counters
The Bottom Line:
The NGX rally is becoming a sustained market trend rather than a single-session move, with the index now supported by ten consecutive positive sessions and broader participation. The combination of strong trading activity, positive breadth and a lower policy-rate environment will be important in determining whether the current momentum can be maintained.
