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Nigeria’s equities market extended its recovery on Tuesday, September 15, 2026, as renewed buying interest pushed the Nigerian Exchange (NGX) All-Share Index above the 244,000-point mark and added approximately ₦650 billion to investors’ wealth.
The benchmark NGX All-Share Index (ASI) advanced by 1,005.27 points, or 0.41 per cent, to close at 244,304.51 points, compared with 243,299.24 points in the previous session.
Consequently, total market capitalisation rose from ₦157.75 trillion to ₦158.4 trillion, representing a corresponding 0.41 per cent increase.
The latest advance marked the market’s fourth consecutive positive trading session, placing the equities market at its highest level since Wednesday, September 9, after the ASI had touched a weekly low of 242,223.10 points.
Trading Activity Strengthens
Beyond the movement in the benchmark index, trading activity also improved significantly during the session.
Investors exchanged 520.65 million shares in 71,977 deals, compared with 428.97 million shares traded in 54,592 deals in the previous session.
That represents a 21.37 per cent increase in trading volume, while the number of deals jumped by 31.85 per cent.
The stronger activity indicates increased participation as investors continued repositioning across selected equities.
The latest session also came during the opening week of the Dangote Petroleum Refinery and Petrochemicals IPO, one of the major capital-market events currently attracting attention on the Nigerian Exchange.
Oil and Gas Sector Leads Gains
The NGX Oil and Gas Index emerged as one of the strongest-performing sectoral benchmarks during the session, rising from 5,814.57 points to 6,035.23 points.
The sector’s performance provided additional support for the broader market as investors accumulated selected oil and gas counters.
The movement comes at a time when the domestic energy market is receiving heightened investor attention, particularly following the commencement of the Dangote Refinery IPO and ongoing developments in Nigeria’s downstream petroleum industry.
NGX Group, Aradel Lead Gainers
Among individual stocks, Nigerian Exchange Group Plc was the standout gainer, climbing 9.95 per cent to ₦179.00 per share.
Aradel Holdings Plc also recorded a strong advance, closing at ₦1,550.00 per share.
The gains in these large and closely watched counters contributed to the positive direction of the overall market.
On the other side of the market, Ecobank Transnational Incorporated (ETI) recorded the session’s maximum permitted decline, falling 10 per cent to ₦66.60 per share.
The contrasting movements underline the selective nature of investor positioning, even as the broader benchmark continued higher.
Financial Services Remain Most Traded
The financial services sector maintained its position as the market’s most actively traded segment.
Stocks in the sector accounted for 285.13 million shares traded on the Main Board, reflecting continued investor activity around banking and other financial-services counters.
The increased trading volume across the market suggests that Tuesday’s gain was accompanied by stronger participation rather than being driven solely by thin trading.
For the broader market, the combination of higher prices and increased turnover provided additional momentum to the four-session recovery.
Market Rebounds From September Low
The latest performance represents a rebound from the weakness recorded earlier in September.
The ASI’s weekly low of 242,223.10 points on September 9 came after a period of selling pressure had pushed the market away from its earlier highs.
Since then, successive gains have gradually lifted the benchmark back above 244,000 points.
The market’s current level, however, remains subject to daily movements as investors respond to corporate earnings, monetary conditions, interest rates, commodity prices and developments surrounding major listed companies.
Dangote IPO Adds Capital-Market Interest
The equities rally is also unfolding alongside the launch of the Dangote Refinery and Petrochemicals IPO.
The offer involves 4.1 billion ordinary shares priced at ₦525 each, with the subscription period running from September 14 to October 13, 2026. The transaction is seeking to raise about ₦2.15 trillion if fully subscribed.
The IPO has brought fresh attention to Nigeria’s capital market and is expected to broaden participation by providing retail and institutional investors with access to Africa’s largest oil refinery.
However, the NGX’s recent correction regarding previously published Dangote IPO subscription figures also highlights the importance of relying on verified exchange data when assessing investor demand. The Exchange said figures earlier posted on its official X account were incorrectly published and did not represent actual subscriptions.
Investors Add ₦650bn to Market Value
Tuesday’s session ultimately left the Nigerian equities market with a ₦650 billion increase in market capitalisation, taking the total value of listed equities to ₦158.4 trillion.
With the ASI gaining 0.41 per cent and trading activity strengthening substantially, the session extended the market’s positive run to four consecutive days.
The immediate focus will now shift to whether buying interest can be sustained across sectors, particularly as investors assess corporate fundamentals, the Dangote Refinery IPO and broader economic developments.
For now, the latest session has restored the market to a stronger position after its September 9 low, while the rise in both trading volume and deal count points to a more active trading environment on the NGX.
