The Nigerian Exchange (NGX) wrapped up September with strong gains, propelled by heightened investor enthusiasm that boosted overall market value by nearly N179 billion. Starting the month on September 1 with a market capitalization of N88.41 trillion and an All-Share Index (ASI) at 139,722.19 points, the exchange ended on September 30 at N90.58 trillion, with the ASI climbing to 142,710.48 points.
The final trading day of the month saw a significant uptick in activity, with investors exchanging 1.24 billion shares valued at N29.82 billion across 27,982 transactions. This marked a sharp 223% jump in share volume and a 157% increase in transaction value compared to the prior session.
A total of 128 stocks saw action, resulting in 28 stocks posting advances and 32 experiencing declines. Leading the advances was UPDC, which rose 9.98% to N6.61 per share, closely trailed by Nigerian Enamelware at 9.97% higher to N38.60, Eterna up 9.95% to N33.70, and Aradel Holdings advancing 9.82% to N615.00 per share. Among the decliners, Union Dicon Salt dropped the most at 10% to N8.10 per share, followed by Champion Breweries down 7.09% to N13.75, Royal Exchange falling 5.96% to N2.05, and Wema Bank slipping 5.56% to N17.00 per share.
Fidelity Bank captured the bulk of trading interest, with 793 million shares changing hands for N15.88 billion, making it the volume leader. Trailing it were NCR Nigeria with 66.8 million shares, Zenith Bank at 49.4 million shares, and Sterling Bank with 28.3 million shares. In terms of monetary value, Zenith Bank led with N3.42 billion in trades, followed by Lafarge Africa at N1.27 billion, NCR Nigeria at N1.07 billion, and Aradel Holdings at N911.74 million.
On the performance front, the flagship All-Share Index rose 332.90 points, or 0.23%, to end at 142,710.46 points. This contributed to a weekly increase of 1.26%, a monthly gain of 2.14%, and a year-to-date rise of 38.65%. The Top 30 Index advanced 0.35%, the Oil and Gas Index surged 3.66%, and the Pension Index grew 0.77%. However, the Industrial Index edged down 0.11%, and the Banking Index dipped 0.14%.
This ongoing bullish trend highlights growing demand for major established stocks and a brighter outlook across major market segments, setting the stage for a promising kickoff to the year’s closing quarter.
