Reported by Weng Patrick Atokor l Journalist at Weng Global
The Nigerian Exchange Limited (NGX) closed higher on Thursday, October 15, 2026, as the All-Share Index gained 33.48 points to settle at 247,707.13 points, extending the market’s recovery for a second consecutive trading session.
The benchmark index rose from 247,673.65 points recorded on Wednesday, while the market capitalisation of listed equities increased from ₦160.81 trillion to ₦160.83 trillion, adding approximately ₦21.74 billion to the market’s total value.
According to market reports published by Nairametrics and Proshare, the latest advance reflected gains in selected equities, particularly Aradel Holdings, CWG and other listed companies.
NGX Records Gains Despite Lower Trading Activity
Although the market closed in positive territory, trading activity declined during the session.
Nairametrics reported that investors exchanged approximately 286.68 million shares in 30,186 deals, compared with 314.90 million shares traded in the previous session.
The decline in trading volume indicates that fewer shares changed hands despite the benchmark index recording another gain.
The market’s performance therefore presented a mixed picture: the overall value of listed equities increased, but trading activity weakened compared with the previous session.
Aradel Holdings, CWG Lead Selected Stock Gains
Several listed companies recorded positive price movements during Thursday’s session.
Aradel Holdings Plc gained 7.14 per cent to close at ₦1,499.90 per share, while CWG Plc advanced 9.86 per cent. International Breweries Plc also recorded gains, rising 4.74 per cent.
Other advancing stocks included First HoldCo Plc, Ecobank Transnational Incorporated, Fidelity Bank Plc and United Bank for Africa Plc, according to market reports.
However, not all equities benefited from the positive close. MTN Nigeria Communications Plc declined by 2.84 per cent, while NASCON Allied Industries Plc recorded a 9.48 per cent loss, reflecting continued pressure on selected stocks.
The contrasting performances show that the market’s overall advance did not translate into gains for every listed company.
Oil and Gas Stocks Support Market Performance
The oil and gas sector was among the strongest performers during the session.
According to Nairametrics, the NGX Oil and Gas Index advanced from 6,034.68 points to 6,194.16 points, supported by gains in energy-related stocks, including Aradel Holdings and Oando Plc.
The banking index also recorded a modest increase, while other market indices posted mixed results.
The performance highlights the influence of individual sectors and large price movements in selected equities on the broader market.
What the Market Movement Means for Investors
The NGX’s second consecutive daily gain provides a positive development for the Nigerian equities market, although the increase remained modest at approximately 0.01 per cent.
The rise in market capitalisation reflects the higher aggregate value of listed equities at the close of trading. It does not mean that all investors recorded profits or that every stock increased in value.
Investors will need to monitor subsequent trading sessions, corporate earnings, company announcements and broader economic developments to determine whether the market can sustain its recovery.
For individual investors, the latest performance reinforces the importance of evaluating companies on their financial performance, valuations and business prospects rather than relying solely on daily movements in the All-Share Index.
The NGX’s latest close therefore reflects a marginal improvement in overall market performance, supported by gains in selected equities, while weaker trading activity and losses in other stocks underline the mixed conditions within the market.
Weng Global – Stories beyond borders
Sources
Punch Newspapers, “NGX gains as equities rally across sectors,” October 16, 2026.
Nairametrics, “NGX extends rally for second day as Aradel, Oando lift market,” October 15, 2026.
Proshare, “NGXASI Edges Higher as Selective Buying Lifts Market Capitalisation by ₦21.74bn,” October 15, 2026.
