The Nigerian Exchange (NGX) recorded a ₦2.01 trillion increase in equity market capitalisation in October 2026, closing the month at ₦165.11 trillion, compared with ₦163.10 trillion at the end of September.
The 1.23 per cent increase was supported by gains in Dangote Cement and selected mid-cap stocks, although several sectors and a majority of the securities tracked recorded declines.
According to Nairametrics’ October market review, the NGX All-Share Index rose from 251,211.67 points at the end of September to 254,299.49 points on October 30, representing a gain of 3,087.82 points.
Dangote Cement Among October’s Strongest Performers
Dangote Cement recorded a 33.12 per cent increase in its share price during the month, rising from ₦1,066.70 at the end of September to ₦1,420 on October 30.
The increase lifted the company’s market capitalisation to approximately ₦24 trillion, making it one of the major contributors to the market’s overall advance.
Other notable gainers included Livestock Feeds, whose share price increased by 64.20 per cent, and E-Tranzact International, which gained 33.61 per cent. Honeywell Flour Mills advanced by 25.28 per cent, while Fidelity Bank rose by 10.85 per cent.
Multi-Trex Integrated Foods recorded the highest percentage gain among the securities tracked, doubling its share price from ₦0.36 to ₦0.72.
Most Tracked Securities Still Recorded Losses
Despite the increase in overall market value, the gains were not widespread. Of the 146 securities tracked in the monthly review, 28 advanced, 72 declined and 46 remained unchanged.
The banking, insurance and consumer goods indices also recorded declines, contrasting with gains in industrial and selected large-cap stocks.
BusinessDay’s coverage of the October market close also highlighted the market’s uneven performance as its total capitalisation crossed ₦165 trillion.
The figures show that the market ended October with a higher overall valuation, but the increase was concentrated in a limited number of stocks rather than reflecting gains across the majority of listed companies.
