NGX extends rally for second day as Aradel, Oando lift market

The Nigerian equity market continued its upward trend for a second consecutive day on Thursday, October 15, 2026, as the Nigerian Exchange Group (NGX) extended its rally. The benchmark All-Share Index (ASI) rose by 33.48 points, or 0.01%, to close at 247,707.13 points, up from 247,673.65 points on Wednesday. Simultaneously, the market capitalization expanded from N160.81 trillion to N160.83 trillion, driven by investors trading 286.68 million shares across 30,186 transactions in the equities segment.

The NGX Oil/Gas Index led the market's gains, climbing from 6,034.68 to 6,194.16 points, while the NGX Premium Index experienced a decline of 214.48 points, closing at 30,909.21 points, after surging by 214.48 points on Wednesday. The NGX Industrial Index remained relatively stable, closing at 10,442.87 points, unchanged from the previous day.

Aradel Holdings Plc and Oando Plc emerged as the market's top gainers on Thursday. Aradel reported a 7.14% increase, up N99.90 to reach N1,499.90, while Oando rose by 1.16% to close at N34.95. Apart from these heavyweights, the overall market showed positive breadth, with 26 stocks gaining against 24 that declined, indicating sustained investor interest in mid-cap and growth equities.

However, not all stocks performed well. MTN Nigeria Communications Plc faced a 2.84% decline, losing N24.00 to close at N820.00, while NASCON Allied Industries Plc saw a 9.48% drop, falling to N171.00. The NGX Insurance Index and NGX Corporate Governance Index also experienced slight declines.

Sectoral performance revealed that the NGX Oil/Gas Index drove the market's gains, while insurance and corporate governance sectors faced mild sell-offs. The NGX Pension Broad Index also experienced a minor pullback. Fixed-income benchmarks, including the NGX Sovereign Bond Index, remained unchanged at 661.50 points.