NGX gains 0.10% as banking stocks lift index on first day of Dangote Refinery IPO

On Monday, September 14, 2026, the Nigerian equities market opened the week with a mildly bullish trend, as the All-Share Index climbed 0.10% to reach 243,299.24 points. The market capitalization increased by N159.8 billion, closing at N157.75 trillion, marking a fourth consecutive day of recovery and pushing the year-to-date return to +56.35%. The Dangote Refinery IPO, which launched for subscription on the same day, seems to have contributed to this positive momentum.

However, market breadth turned negative, with 28 stocks falling and 19 gaining. NGX Group emerged as the top performer, surging 10% to hit the daily limit and continuing its strong rally, having topped last week's best-performers' list with a 13.85% weekly gain. In contrast, John Holt led the decliners, falling by 10.00%, while Daar Communications dropped 9.8%.

Ellah Lakes, Regency Alliance Insurance, and Learn Africa were among the weakest performers, marking a reversal for Ellah Lakes and Learn Africa, both of which had been among last week's top gainers.

The NGX Banking Index showed the strongest sector performance, rising 0.68% to 2,546.04 points from 2,528.80 points. Meanwhile, the NGX Industrial Index and NGX Commodity Index remained flat, sitting at 9,994.54 points and 1,888.79 points, respectively. Trading activity softened compared to Friday's already-reduced levels. Sterling Financial Holdings was the most traded stock by volume, with 78.05 million units, while Aradel Holdings led in terms of value, with N2.48 billion in trading.