Rising Investor Confidence Lifts Stock Market to N165trn, Adds N65.7trn in 10 Months.
The Nigerian economy has so far in 2026 witnessed relative stability in the foreign exchange market, renewed investor confidence, impressive corporate earnings, easing inflation, a cut in the Monetary Policy Rate (MPR) to 23 per cent by the Monetary Policy Committee of the Central Bank of Nigeria (CBN), and improved liquidity in the financial sector.
Market capitalisation, which opened trading in 2026 at N99.376 trillion, has gained N65.74 trillion, representing a 66.15 per cent increase, to close at N165.114 trillion yesterday.
Similarly, the NGX All-Share Index advanced by 98,686.46 basis points, or 63.42 per cent Year-to-Date (YtD), from 155,613.03 basis points at the beginning of the year to 254,299.49 basis points.
Key market sectoral indicators showed that the NGX Oil/Gas Index led other indices as the best performer, while the NGX Insurance Index emerged as the worst performer in its YtD performance. The NGX Oil/Gas Index gained 127.9 per cent YtD to close at 6,085.42 basis points as of October 30, 2026, while the NGX Insurance Index declined by 13.6 per cent YtD to close at 1,027.06 basis points. The NGX Industrial Index, NGX Banking Index and NGX Consumer Goods Index advanced by 114.9 per cent, 60.27 per cent and 0.97 per cent YtD, respectively. Checks by THISDAY showed that Airtel Africa Plc, Dangote Cement Plc and MTN Nigeria Communications Plc contributed an estimated N65.48 trillion, or 39.7 per cent, of the overall N165.114 trillion market capitalisation as of October 30, 2026.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.