Nigerian Stock Market adds ₦1.75 trillion as all-share index rises 1.07%

By Boluwatife Oshadiya │ October 28, 2026

Key Points

• NGX All-Share Index rises 1.07% to 253,990.06, adding ₦1.75 trillion to market capitalisation
• Industrial goods stocks gain 5.50%, while market breadth remains negative with 19 advancers and 36 decliners
• Trading activity increases sharply, with approximately 5.23 billion shares worth ₦441.47 billion changing hands

Main Story

The Nigerian Exchange (NGX) All-Share Index rose 1.07% on Tuesday to close at 253,990.06, while market capitalisation increased by ₦1.75 trillion to ₦164.91 trillion amid buying interest in selected stocks.

The index gained 2,699.52 points, while market activity rose sharply, with approximately 5.23 billion shares valued at ₦441.47 billion traded across 35,946 deals. The supplied market report put increases in trading volume and value at 1,488.15% and 1,634.62%, respectively.

DANGCEM, STANBIC, HONYFLOUR and ACCESSCORP were among the stocks attracting investor interest. Dangote Cement led trading by value, accounting for 19.15% of the total value traded, while Honeywell Flour Mill led by volume with 8.69%, followed by GTCO at 8.17%, Zenith Bank at 7.34%, UBA at 5.77% and First HoldCo at 5.41%.

Despite the broader market advance, decliners outnumbered advancers. Nineteen stocks gained, while 36 declined. Dangote Cement rose 9.80%, followed by Honeywell Flour Mill at 9.67%, AVA Capital at 9.42% and NAHCO at 8.00%. Presco led the losers, falling 10.00%, followed by Tripple Gee at 9.93% and Thomas Wyatt at 9.85%.

Sector performance was mixed but predominantly positive. The industrial goods index rose 5.50%, consumer goods gained 0.05% and banking advanced 0.01%. Insurance declined 2.44%, while oil and gas slipped 0.01%.

The session’s figures point to strong gains in overall market value, even as the number of declining stocks exceeded the number of advancers. The supplied report links investor activity to third-quarter earnings releases but does not identify specific earnings announcements or provide a direct statement from the NGX confirming that they drove the rally.

What’s Being Said

The supplied market report attributes the positive close to sustained interest in risk assets during the Q3 earnings season. However, it does not include a direct quotation from the NGX, a named stockbroker or an independent market analyst. A verified market comment would strengthen the explanation for the rally and the negative market breadth.

What’s Next

• Investors will assess further third-quarter earnings releases for their implications for listed companies’ valuations and future performance.
• Market participants will monitor whether buying interest broadens beyond the stocks and sectors that led Tuesday’s gains.
• Subsequent NGX sessions will show whether the index can sustain its advance despite the higher number of declining stocks.

Bottom Line

The Bottom Line: The ₦1.75 trillion increase in market capitalisation signals a strong session, but negative market breadth shows that the gains were not shared across the majority of listed stocks. Investors should distinguish a rise in the overall index from broad-based market strength when assessing the rally.