The Nigerian equities market maintained its winning streak into a third consecutive week, with the benchmark NGX All-Share Index (ASI) rising 2,308.85 basis points or approximately 0.92%, to close at 252,113.41 points on Friday, September 25, up from 249,804.56 points the previous week.
Market capitalisation rose by N1.498 trillion, or approximately 0.92%, to close at N163.655 trillion, pushing the year-to-date return to +62.01% as renewed buying interest in oil & gas and banking stocks sustained the market rally.
The market performance was supported by strength in Seplat Energy (+7.3%), Dangote Cement (+1.6%), HBMNG (+4.4%), GTCO (+5.4%) and Zenith Bank (+5.1%), even as the index closed the final session of the week marginally lower.
Critical Minerals Financing Corp Plc emerged as the week’s standout performer, surging 59.80% to close at N3.26 from N2.04, while Haldane McCall Plc led the losers with a 16.67% decline.
However, on the final trading day, Friday, September 25, the ASI edged down 0.01% to close the week at 252,113.41 points, trimming N23.77 billion from market capitalisation even as breadth remained positive with 39 gainers led by Zichis, CMFC, RTBRISCOE, ABCTRANS and ROYALEX outpacing 27 losers.
Trading activity picked up sharply, with total turnover rising to 4.689 billion shares worth N240.824 billion in 261,198 deals, compared with 3.249 billion shares valued at N237.986 billion in 287,919 deals the previous week — volume up 45.0% even as deal count declined.
The top three equities by volume — Fidelity Bank, Fortis Global Insurance and Zenith Bank — accounted for 2.020 billion shares worth N54.057 billion in 21,385 deals, representing 43.08% of total volume and 22.45% of total value.
Sixty-one equities appreciated in price during the week, higher than the 52 recorded the previous week. Thirty-two equities depreciated, unchanged from the week before, while 53 equities remained unchanged, lower than the 63 recorded previously.
Sector performance was broadly positive, with Oil & Gas once again leading the advance.
All other indices finished higher except NGX Insurance, NGX Lotus II and NGX Sovereign Bond, which depreciated 0.52%, 0.13% and 0.003% respectively.
Neimeth International Pharmaceuticals listed an additional 610,443,515 ordinary shares of 50 kobo each on Monday, September 21, 2026, arising from its Rights Issue at N4.00 per share, taking total issued shares from 4,273,104,607 to 4,883,548,122.
Advans La Fayette Microfinance Bank listed N845.86 million (Tranche A) and N5.91 billion (Tranche B) in Commercial Paper on Friday, September 25, 2026, under its N20 billion Commercial Paper Issuance Programme.
The week’s 0.92% ASI gain came as the Central Bank of Nigeria (CBN) cut the benchmark monetary policy rate (MPR) by hefty 350 basis points on Tuesday September 22 resulting sharp stop-rate declines in Treasury Bills yields the following day and helping to fuel rotation into equities across sectors.
Nascon Allied Industries recorded the largest absolute gain among the listed stocks at N28.50, while The Okomu Oil Palm Company recorded the largest absolute price loss at N141.80.
Analysts expect investor risk appetite to gradually improve in the coming week as the recent 350-basis-point rate cut supports further downward repricing of market yields, reducing the opportunity cost of holding equities, with focus likely to remain on inflation and exchange-rate stability, alongside gradual portfolio repositioning ahead of the 9M-26 earnings season.
