NGX rallies as equity market cap reaches record N163.1 trillion

The Nigerian Exchange Limited (NGX) market capitalisation reached a record N163.16 trillion on Monday, October 26, 2026.

Total equity market capitalisation expanded by N2.64 trillion in a single trading session, rising from N160.52 trillion recorded on Friday, October 23, to close at N163.16 trillion on Monday.

Concurrently, the benchmark NGX All-Share Index (ASI) surged by 4,068.27 points (or 1.65%) to reach a record high of 251,290.54 points, up from 247,222.27 points in the previous session.

The latest milestone beat the previous market cap record of N163.06 trillion reached on September 23.

The primary catalyst behind the market’s valuation expansion was a sharp surge in the NGX Industrial Index, which jumped 5.37% from 10,646.68 to 11,218.05 points.

Heavyweight Dangote Cement PLC anchored this movement by hitting its maximum allowable daily gain of 10.00%, adding N111.10 to close at N1,222.10 per share and elevating its market capitalisation to N20.62 trillion.

These industrial and banking gains easily absorbed localized profit-taking in stocks like ABC Transport PLC (-9.59%) and Caverton Offshore Support Group PLC (-9.38%).

Sectoral performance on the Nigerian Exchange was overwhelmingly bullish on October 26, 2026, headlined by a remarkable surge in the NGX Industrial Index, which jumped 5.37% from 10,646.68 to 11,218.05 points.

This expansion was driven primarily by Dangote Cement PLC, which surged 10.00% to close at N1,222.10 per share.

In contrast, select consumer-facing and specialized segments experienced mild pullbacks as profit-taking muted overall sector gains.

Meanwhile, the NGX Oil/Gas Index gained 0.88% to reach 6,089.08 points, bolstered by Aradel Holdings PLC rising 2.48% to N1,439.90, while the NGX Insurance Index logged a modest 0.67% increase to 1,056.47 points, aided by advances in AIICO Insurance PLC (+4.18%) and Coronation Insurance PLC (+2.88%).

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