The Nigerian Exchange (NGX) closed Wednesday, September 16, with investors trading 662.35 million shares across 63,167 deals, pushing market capitalisation up by roughly N315.9 billion to N158.7 trillion from N158.4 trillion the previous day.
The NGX All-Share Index (ASI) advanced 0.20% to close at 244,791.79 points, up from 244,304.51 points on Tuesday. The positive session was driven by sustained buying interest in banking, insurance, and financial services stocks, according to a report by Punch.
Trading Volume Jumps 27% as Deals Decline
Trading volume surged 27.22% compared to the 520.65 million shares exchanged on Tuesday. However, the number of deals fell 12.24% from the 71,977 recorded in the previous session, reflecting a concentration of activity in fewer, larger transactions.
Financial services stocks accounted for the bulk of the day's activity, with the sector recording 422 million shares traded in 20,251 deals.
Sterling and AIICO Lead Banking and Insurance Activity
Sterling Financial Holdings topped banking activity with 142.04 million shares traded. Fidelity Bank followed with 43.33 million shares, GTCO posted 40.55 million shares, Zenith Bank attracted 34.87 million shares, and Access Holdings recorded 26.56 million shares.
In the insurance segment, AIICO Insurance led with 73.63 million shares. Veritas Kapital Assurance traded 10.61 million shares, International Energy Insurance recorded 7.75 million shares, and Regency Alliance Insurance exchanged 5.77 million shares.
Gainers and Losers on the NGX
Sovereign Trust Insurance topped the gainers list, rising 9.69% to N2.15. Champion Breweries gained 9.50% to close at N10.95, Livestock Feeds advanced 9.42% to N7.55, Learn Africa added 9.09% to reach N8.40, and Mbenefit Assurance climbed 8.93% to N3.05. Prestige Assurance also featured among notable gainers with a 9.56% rise.
On the losing side, IMG shed 9.93% to close at N27.65, John Holt fell 9.88% to N7.30, and LivingTrust Mortgage Bank dropped 9.84% to N2.84. Fidson Healthcare declined 9.19% to N72.65, Royal Exchange lost 9.00% to N0.91, and Ellah Lakes dropped 8.79%.
Dangote Refinery IPO Raises N1.5trn in Six Hours
Earlier, Legit.ng reported that the initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE drew roughly N1.5 trillion in subscriptions within six hours of opening on the Nigerian Exchange in Lagos on Monday, September 14, 2026, in what is described as the largest IPO in Africa.
The offer is priced at N525 per share, with a minimum subscription of 10 shares, meaning retail investors can enter for as little as N5,250. The surge in demand caused serious problems for two popular fintech investment platforms.
