Nigeria’s equities market extended its recent rally on Thursday, September 17, with the Nigerian Exchange (NGX) recording another strong session as market capitalisation climbed to approximately ₦159.9 trillion.
The market added about ₦1.18 trillion in value during the session, rising from ₦158.71 trillion recorded at the previous close. The NGX All-Share Index also advanced 0.62% to 246,315.38 points, marking its fifth consecutive day of gains.
Trading activity also accelerated sharply. Investors exchanged approximately 1.1 billion shares across more than 54,000 deals, with trading volume increasing by roughly 66% compared with the previous session.
The market’s increase in capitalisation was partly supported by the listing of an additional 26.56 billion Abbey Mortgage Bank shares, which contributed significantly to the increase in total market value.
Industrial and financial stocks drive gains
The rally was broad-based, with the NGX Industrial Index recording one of the strongest sectoral performances, rising to 10,224.02 points from 9,936.78.
The NGX Banking Index also advanced to 2,583.31 points, while the Insurance Index climbed to 1,088.09 points. The Consumer Goods Index, however, recorded a marginal decline, while the Oil and Gas Index remained broadly flat.
Among individual stocks, Beta Glass, UPDC REIT, Consolidated Hallmark Holdings and BUA Cement all gained 10%, reaching the daily maximum permitted increase.
On the other side of the market, Transcorp Power recorded the largest decline, falling 9.97%, followed by Legend Internet and Omatek Ventures.
Banking stocks dominate trading activity
Financial services remained the most actively traded segment during the session.
Zenith Bank recorded more than 78.5 million shares traded, while Access Holdings contributed approximately 44.7 million shares. The Main Board accounted for the majority of trading volume, with more than 949 million shares exchanged.
The latest rally has pushed the NGX to a new high for the week, reflecting sustained buying interest across several major sectors.
With the All-Share Index now at 246,315.38 points, the latest session further highlights the strength of activity on Nigeria’s equities market as investors continue to reposition across banking, industrial and other sectors.
