Nigerian Stock Market Gains ₦2.01 Trillion in October, Market Capitalisation Hits ₦165.11 Trillion

Nigeria’s stock market added ₦2.01 trillion in value in October, pushing the Nigerian Exchange’s total market capitalisation above ₦165 trillion as investors increased demand for selected highly capitalised stocks.

Market capitalisation rose from ₦163.10 trillion at the end of September to ₦165.11 trillion in October, reflecting the positive performance recorded during the month.

The All-Share Index also advanced by 1.23 per cent to close October at 254,299.49 points, while the market’s year-to-date return increased to 63.42 per cent.

Dangote Cement emerged as one of the major contributors to the rally, recording a 33.12 per cent gain during the month to close at ₦1,420 per share.

Buying interest in selected industrial and mid-cap stocks also supported the market’s overall performance, although the gains were concentrated in a relatively small number of securities.

Data covering 146 securities showed that only 28 recorded price increases in October, while 72 declined and 46 remained unchanged.

The figures highlight a mixed market performance, with the increase in overall capitalisation not translating into gains for most listed securities.

Analysts say investors remain selective, weighing company earnings, valuations and broader market conditions when making investment decisions.

Despite the uneven performance across individual stocks, the October rally lifted the market’s year-to-date return to 63.42 per cent, reinforcing the Nigerian Exchange’s strong overall performance in 2026.