{
  "id": 7901350,
  "title": "Stock Market Gains N316bn to Sustain Positive Momentum",
  "url": "https://urgent.news/2026/09/16/stock-market-gains-n316bn-to-sustain-positive-momentum",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T23:21:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/17/stock-market-gains-n316bn-to-sustain-positive-momentum/"
  },
  "original_language": "en",
  "account": "The Nigerian stock market continued its upward trajectory for a third consecutive day this week, fueled by optimism surrounding the Dangote Refinery's N2.15 trillion Initial Public Offering (IPO). The All-Share Index surged by 487.28 basis points, or 0.20%, to close at 244,791.79 basis points. The market capitalization value also increased by N316 billion, reaching N158.715 trillion.\n\nThe Insurance, Consumer Goods, and Banking indices showed positive gains, with Insurance up by 1.6%, Consumer Goods by 0.8%, and Banking up by 0.2%. Meanwhile, Industrial Goods and Oil & Gas indices remained unchanged. Investor sentiment remained bullish, with 34 stocks gaining and 25 stocks declining. Sovereign Trust Insurance emerged as the top gainer, climbing 9.69% to close at N2.15 per share. Champion Breweries and Livestock Feeds followed with gains of 9.50% and 9.42%, respectively.\n\nHowever, Industrial & Medical Gases Nigeria experienced the steepest decline among gainers, dropping 9.93% to close at N27.65 per share. John Holts and LivingTrust Mortgage Bank also saw significant declines of 9.88% and 9.84%, respectively. Fidson Healthcare and Royal Exchange recorded the lowest gains among the losers, with Fidson Healthcare shedding 9.19% and Royal Exchange falling 9.00% to close at 91 kobo.\n\nTrading activity saw a 31.1% increase, with 662.43 million units traded, valued at N37.45 billion, across 63,271 deals. Sterling Financial Holdings Company saw the highest trading volume, with 142.041 million shares traded, amounting to N1.072 billion. AIICO Insurance and Fidelity Bank were among the other notable traders.\n\nLooking forward, Cowry Assets Management Limited noted that the market is expected to maintain its bullish trend as investor sentiment becomes increasingly positive. However, they cautioned that residual profit-taking activity could potentially slow the pace of any recovery.",
  "summary": "Kayode Toekde The Nigerian stock market extended its rally for a third consecutive session this week, as investor optimism around the Dangote Refinery’s N2.15 trillion Initial Public Offer (IPO) sustained",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}