Nigeria: Investor Confidence Fuels NGX Market Gains of N178bn

The Nigerian Exchange (NGX) ended September on a strong footing, buoyed by renewed investor confidence that added N178.99bn to market value. Market capitalisation rose from N88.41tn at the start of the month, with an All-Share Index (ASI) of 139,722.19 points, to N90.58tn and 142,710.48 points respectively by September 30, 2025.

Trading activity in the final session of the month reflected heightened momentum, as investors exchanged 1.24bn shares worth N29.82bn across 27,982 deals. This marked a 223 per cent surge in volume and a 157 per cent rise in turnovercompared to the previous day.

Out of the 128 equities traded, 28 closed in the green while 32 declined. UPDC topped the gainers’ chart with a 9.98 per cent increase to N6.61 per share, followed by Nigerian Enamelware (9.97%), Eterna (9.95%), and Aradel Holdings (9.82%). On the downside, Union Dicon Salt led the laggards with a 10 per cent drop to N8.10 per share, while Champion Breweries (-7.09%), Royal Exchange (-5.96%), and Wema Bank (-5.56%) also posted losses.

Fidelity Bank dominated market activity, recording the highest volume with 793m shares worth N15.88bn. It was followed by NCR Nigeria (66.8m shares), Zenith Bank (49.4m shares), and Sterling Bank (28.3m shares). By value, Zenith Bank led trades at N3.42bn, ahead of Lafarge Africa (N1.27bn), NCR Nigeria (N1.07bn), and Aradel Holdings (N911.74m).

In terms of performance indicators, the benchmark ASI advanced by 332.90 points (0.23%) to close the day at 142,710.46 points, bringing weekly gains to 1.26 per cent, a four-week gain of 2.14 per cent, and a year-to-date growth of 38.65 per cent. Among the sectoral indices, the Top 30 Index rose 0.35 per cent, the Oil and Gas Index climbed 3.66 per cent, and the Pension Index gained 0.77 per cent. However, the Industrial Index slipped 0.11 per cent, while the Banking Index fell 0.14 per cent.

The sustained rally underscores rising investor appetite for blue-chip stocks and improving sentiment across key sectors, setting the stage for a strong start to the final quarter of the year.

Earlier, trading on the NGX opened the week on a positive note, with investors gaining N115bn in market value on Monday, spurred by robust performances in the banking and oil and gas sectors.