The Nigerian equities market closed last week at a record N162.157 trillion in market capitalisation, as the benchmark All-Share Index (ASI) rose 2.78 per cent week-on-week to 249,804.56 points.
The latest market capitalisation surpassed the previous record of N161.8 trillion recorded on May 13, 2026, reflecting renewed buying interest across several sectors of the market.
The ASI had closed the previous week at 243,052.74 points, while market capitalisation stood at N157.587 trillion.
Trading activity was also substantial, with 3.249 billion shares worth N237.986 billion exchanged in 287,919 deals during the week.
UPDC REIT, Sovereign Trust Lead Gainers
UPDC Real Estate Investment Trust led the gainers with a 34.91 per cent increase, rising from N13.75 to N18.55 per share.
Sovereign Trust Insurance followed with a 30.95 per cent gain, moving from N1.68 to N2.20, while Mutual Benefits Assurance appreciated by 22.03 per cent from N2.95 to N3.60.
Nigerian Exchange Group gained 21.55 per cent to close at N179.90, while First HoldCo rose 17.65 per cent to N160.
McNichols Consolidated advanced 16.85 per cent to N5.20, while Livestock Feeds gained 16.79 per cent to N8.
Fortis Global Insurance rose 13.79 per cent to N1.65, Consolidated Hallmark Holdings increased 13.38 per cent to N7.37, and NPF Microfinance Bank appreciated 11.11 per cent to N4.
In total, 52 equities recorded price gains during the week, compared with 32 that declined.
Transcorp Power Leads Decliners
Transcorp Power recorded the steepest decline, falling 18.94 per cent from N219.60 to N178.
John Holt followed with an 18.89 per cent decline to N7.30, while Ellah Lakes fell 18.14 per cent to N8.35.
LivingTrust Mortgage Bank declined 17.46 per cent to N2.60, while Omatek Ventures dropped 12.41 per cent to N1.20.
PZ Cussons Nigeria shed 11.33 per cent to N73.60, Learn Africa declined 11.11 per cent to N8, while Industrial and Medical Gases Nigeria fell 9.93 per cent to N27.65.
Ecobank Transnational Incorporated lost 9.46 per cent to close at N67, while Cadbury Nigeria declined 9.32 per cent to N53.
Financial Services Dominate Trading
The Financial Services Industry maintained its dominance in trading activity, accounting for 2.581 billion shares worth N97.212 billion in 138,900 deals.
The sector contributed 79.43 per cent of total market volume and 40.85 per cent of total value traded.
The Services Industry followed with 131.102 million shares valued at N2.731 billion in 15,084 deals, while the ICT Industry ranked third with 114.622 million shares worth N21.541 billion in 29,152 deals.
Fidelity Bank, Sterling Financial Holdings and Mutual Benefits Assurance were the three most actively traded stocks by volume, collectively accounting for 1.229 billion shares valued at N15.942 billion in 7,796 deals.
The trio represented 37.83 per cent of total volume and 6.70 per cent of total value traded during the week.
Consumer Goods, Banking Indices Post Strong Gains
Sectoral performance was broadly positive, with all major sectoral indices recording gains except the NGX Growth Index, which declined 0.14 per cent.
The Consumer Goods Index recorded the largest sectoral increase, rising 4.87 per cent to 7,484.58 points.
The Banking Index gained 4.43 per cent to close at 2,640.90 points, taking its year-to-date return to 74.22 per cent.
The Insurance Index advanced 3.79 per cent to 1,099.33 points, although its year-to-date performance remained negative at 7.57 per cent.
The Oil and Gas Index rose 3.71 per cent to 6,033.10 points, maintaining its position as the strongest-performing sector year-to-date, with a 125.94 per cent return.
The Industrial Goods Index increased 3.12 per cent to 10,306.65 points, while the Commodity Index gained 1.24 per cent to 1,912.16 points.
The NGX Premium Index recorded a 5.06 per cent weekly gain, while the ASI’s 2.78 per cent rise lifted its year-to-date return to 60.53 per cent.
Market Activity Increases in Value
Although weekly volume declined from 3.647 billion shares to 3.249 billion, the value of transactions increased significantly from N130.151 billion to N237.986 billion.
The number of deals also rose from 244,777 in the previous week to 287,919.
Market breadth improved considerably compared with the preceding week, when only nine stocks gained against 80 decliners. Sixty-three equities remained unchanged during the latest week, compared with 58 previously.
New Listings Added to Exchange
Two corporate listings were recorded during the week.
Abbey Bank Plc listed 26.563 billion ordinary shares issued through a private placement at N2.43 per share on September 17. The transaction increased the bank’s total issued shares from 10.154 billion to 36.716 billion.
Critical Minerals Financing Corporation Plc also listed 1.069 billion ordinary shares at N1.69 per share following the conversion of N1.807 billion in debt to equity. The transaction increased the company’s total issued shares to approximately 2.570 billion.
Market Closes at New Record
The record Friday close marked a new high for the NGX, with market capitalisation rising by about N4.57 trillion over the week.
The latest performance also came amid renewed activity in several stocks that had previously experienced significant selling pressure.
Attention now turns to developments surrounding the Dangote Refinery IPO subscription window, which runs through October 13, as well as Nigeria’s reclassification to Frontier Market status by FTSE Russell, effective September 21.
