Nigeria's equities market extended its bullish run on Tuesday, September 22, 2026, adding N297.21 billion to investors' wealth as the NGX All-Share Index climbed 0.18% to close at 250,614.66 points. The market's year-to-date return hit 61.05%, reflecting sustained buying interest across major stocks on the Nigerian Exchange.
Stocks That Drove Tuesday's Rally
Several large and mid-cap stocks fuelled the day's positive performance. Cadbury Nigeria topped the gainers with an 8.29% rise, followed by Stanbic IBTC Holdings at 7.09%. UBA climbed 4.07%, while Custodian Investment, Zenith Bank, and GTCO added 2.71%, 2.64%, and 2.54%, respectively.
Other notable gainers included HBMNG, First HoldCo, Dangote Cement, PZ Cussons Nigeria, NGX Group, Oando, NEM Insurance, Access Holdings, Nigerian Breweries, and Wema Bank. Sovereign Trust Insurance was the best-performing stock of the session, while Multiverse Mining and Exploration posted the sharpest decline.
Market breadth favoured buyers, with 36 stocks advancing against 26 that fell. Regency Alliance Insurance hit a new 52-week low of N0.70, and Legend Internet also dipped below its previous 52-week low before closing at N3.40.
Trading Activity Surges
Trading activity rose sharply during the session. Total volume climbed 45.82% to 837.26 million units across 52,126 deals, with total value reaching N48.57 billion. Fidelity Bank led by volume, with 165.43 million shares traded, making up 19.76% of the day's total. Zenith Bank dominated by value, recording N13.73 billion, or 28.27% of the session's total traded value.
CBN Explains MPR Cut to 23%
Earlier, Legit.ng reported that the market gains coincided with the Central Bank of Nigeria explaining why its Monetary Policy Committee cut the Monetary Policy Rate from 26.5% to 23% at its 307th meeting in Abuja. The CBN said the old rate had drifted away from the interest rates actually being applied across financial markets, with the Standing Deposit Facility rate effectively replacing the MPR as the benchmark banks used to price transactions.
This gap, the apex bank said, was weakening the ability of monetary policy decisions to reach the real sector of the economy. The CBN described the 350-basis-point reduction not as conventional easing but as an "operational realignment" intended to restore the MPR as the effective signal for interest rates across the economy. Alongside the reset, the MPC recalibrated the Standing Facilities Corridor to +50/-300 basis points around the new rate, while leaving the Cash Reserve Requirement unchanged. The CBN's move is expected to influence borrowing costs and market sentiment in the coming sessions, as investors watch for further policy adjustments.
