The Nigerian stock market gains recorded on Monday, October 26, pushed total market capitalisation up by ₦2.64 trillion to ₦163.16 trillion. The All-Share Index also rose by 1.65% to close at 251,290.54 points, extending the market’s positive performance.
The latest rally increased the market’s value from ₦160.52 trillion recorded on Friday, October 23. It also pushed the All-Share Index above the 250,000-point mark, extending the market’s recovery at the start of the new trading week. However, the gains did not extend to every listed company, as several stocks recorded losses during the session.
Dangote Cement Leads Major Market Gains
Dangote Cement played a significant role in Monday’s market rally after its share price increased by 10% to close at ₦1,222.10. The company’s strong performance helped drive the NGX Industrial Index up by 5.37% to 11,218.05 points.
Other companies also recorded notable gains. Honeywell Flour Mill rose by 9.78% to ₦19.65 per share, while Royal Exchange gained 9.18% to close at ₦1.07. Nigerian Exchange Group advanced by 8.20% to ₦165, and First HoldCo increased by 7.56% to ₦155.
The banking sector also supported the positive performance. The NGX Banking Index climbed by 2.34% to 2,574.45 points, reflecting gains across several major financial institutions.
Access Holdings rose by 4.15%, while Guaranty Trust Holding Company (GTCO) gained 2.54%. Zenith Bank also recorded a 1.26% increase.
These advances helped lift the overall market value and pushed the benchmark index to a new high. According to market data reported by Nairametrics, the latest market capitalisation surpassed the previous record of ₦163.06 trillion recorded on September 23.
Nigerian Stock Market Records Mixed Trading Activity
Despite the strong headline figures, not every stock benefited from Monday’s rally. ABC Transport recorded the steepest decline among the reported major losers, falling by 9.59% to ₦6.60 per share.
Caverton Offshore Support Group dropped by 9.38% to ₦4.35, while Livestock Feeds declined by 9.09% to ₦15.50. Champion Breweries also lost 8.16%, closing at ₦9, while PZ Cussons Nigeria fell by 7.61% to ₦63.70.
Trading activity presented a mixed picture. The total number of deals increased by 30.14% to 43,647, compared with 33,540 in the previous session. However, trading volume fell by 46.13% to approximately 329.5 million shares.
The figures suggest that buying interest in selected heavyweight stocks played a major role in the market’s advance, even as other shares struggled.
Monday’s performance marks a significant milestone for the Nigerian Exchange. Investors will now watch whether the positive momentum continues and spreads across more listed companies in subsequent trading sessions.
