The Nigerian Exchange Limited (NGX) added ₦2.01 trillion to its market capitalisation in October 2026, as renewed demand for selected heavyweight stocks pushed the benchmark All-Share Index above the 250,000-point mark.
Market capitalisation increased from ₦163.104 trillion at the end of September to ₦165.114 trillion on October 30, representing a 1.23 per cent monthly gain.
The NGX All-Share Index also rose by 3,087.82 points, moving from 251,211.67 points to 254,299.49 points during the period.
Dangote Cement was among the major contributors to the rally, recording a 33.12 per cent share-price increase to close at ₦1,420. Other notable gainers included Livestock Feeds, which rose by 64.2 per cent, E-Tranzact International by 33.61 per cent and Honeywell Flour Mills by 25.28 per cent.
However, the market’s overall growth was not shared across most listed companies. Of the 146 securities tracked in October, 72 recorded losses, 28 appreciated, while 46 remained unchanged.
The performance indicates that gains were concentrated in selected stocks rather than reflecting a broad-based market rally.
On a week-on-week basis, the exchange added approximately ₦4.595 trillion in market value during the final trading week of October, with market capitalisation closing at ₦165.114 trillion.
Analysts attributed the market’s performance to investor interest in large-capitalisation companies, improved corporate earnings and changing investment conditions.
Market watchers are expected to monitor corporate results, interest-rate developments, inflation and foreign exchange conditions as investors assess the outlook for Nigerian equities.
