BREAKING: NGX market cap hits N162 trillion for the first time ever

The Nigerian Stock Exchange (NGX) has reached a record market capitalization of N162.2 trillion for the first time ever, as stocks closed the week on a high. This marks a significant increase from the previous all-time high of N161.8 trillion, which was achieved on May 13, 2026. Trading activity on the NGX was strong throughout the week, with investors participating in a significant number of deals.

On Friday, September 18, 2026, the market saw a remarkable surge in trading volume, with 525,991,720 shares exchanged across 44,239 distinct deals. This led to the total equity market capitalization reaching N162.16 trillion, a 1.42% increase from Thursday's close of N159.89 trillion. The All-Share Index also reached new heights, peaking at 249,804.56 points, an increase of 1.42% from the previous week's close of 246,315.38 points.

This impressive performance was largely driven by high-volume trades in key sectors such as financial infrastructure and telecommunications. Despite the overall positive market sentiment, some high-priced stocks experienced slight declines. The Premium Board Banking sub-sector, for instance, saw a decrease of 0.22% from UBA and 0.08% from Zenith Bank.

However, this was far outweighed by the gains in other sectors, with Dangote Sugar Refinery leading the charge with a 1.63% increase. The market breadth, which measures the ratio of stocks that gained value to those that lost value, was exceptionally high at 1.64x, signifying strong, widespread buying interest across the market.

The positive trend was consistent across all market tiers, confirming the structural health of the bull run. The rally was not confined to the main equity boards; Exchange Traded Funds (ETFs) contributed 397,194 shares to the market, while the debt instruments market saw a turnover of 51,151 units in bonds.